PROG (PRG) financial statements
PROG reported revenue of $2.4B in fiscal 2025, up 2.4% a year over 7 years.
Net income was $147M and the operating margin 8.6%, against 7.7% in 2018.
Free cash flow was $325M, and the company returned $21M in dividends and $52M in net buybacks.
The diluted share count fell 42% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from PROG's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.0B | $2.2B | $2.5B | $2.7B | $2.6B | $2.3B | $2.4B | $2.4B |
| Selling, general and admin | — | — | — | — | $366M | $341M | $339M | $379M |
| Operating income | $157M | $28M | $272M | $334M | $186M | $219M | $195M | $207M |
| Interest expense | $0 | $0 | $187,000 | $5M | $37M | $39M | $39M | $49M |
| Pre-tax income | $157M | $28M | $272M | $328M | $148M | $189M | $163M | $175M |
| Income tax | $31M | $52M | $38M | $85M | $50M | $55M | -$34M | $50M |
| Net income | $196M | $31M | -$61M | $244M | $99M | $139M | $197M | $147M |
| EPS (diluted) | $2.78 | $0.47 | -$0.90 | $3.67 | $1.90 | $2.98 | $4.53 | $3.59 |
| Diluted shares | 71M | 67M | 68M | 66M | 52M | 47M | 44M | 41M |
| Operating margin | 7.7% | 1.3% | 10.9% | 12.5% | 7.1% | 9.3% | 8.1% | 8.6% |
| Net margin | 9.6% | 1.5% | -2.5% | 9.1% | 3.8% | 5.9% | 8.2% | 6.1% |
Balance sheet
Fiscal years, from PROG's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $15M | $58M | $37M | $170M | $132M | $155M | $91M | $309M |
| Inventory | — | — | — | — | — | — | — | $0 |
| Property, plant and equipment | — | $30M | $27M | $26M | $24M | $24M | $20M | $20M |
| Goodwill | — | $289M | $289M | $306M | $296M | $296M | $296M | $296M |
| Total assets | — | $3.3B | $1.3B | $1.6B | $1.5B | $1.5B | $1.5B | $1.6B |
| Total liabilities | — | $1.6B | $331M | $942M | $921M | $900M | $863M | $864M |
| Shareholders' equity | $1.8B | $1.7B | $986M | $679M | $570M | $591M | $650M | $746M |
| Net debt | -$15M | -$58M | -$37M | -$170M | -$132M | -$155M | -$91M | -$309M |
Cash flow
Fiscal years, from PROG's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $356M | $317M | $456M | $246M | $242M | $204M | $139M | $335M |
| Capital spending | $79M | $93M | $64M | $10M | $10M | $10M | $8M | $10M |
| Free cash flow | $278M | $224M | $392M | $236M | $233M | $195M | $130M | $325M |
| Stock-based compensation | $28M | $27M | $41M | $21M | $18M | $25M | $29M | $29M |
| Dividends paid | $6M | $9M | $14M | $0 | $0 | $0 | $20M | $21M |
| Share buybacks (net) | -$169M | -$69M | $0 | -$142M | -$224M | -$140M | -$139M | -$52M |
| Net borrowing | — | — | -$285M | — | — | — | — | — |
| Free cash flow margin | 13.6% | 10.4% | 15.8% | 8.8% | 9.0% | 8.3% | 5.4% | 13.5% |
| Dividends per share | $0.09 | $0.14 | $0.20 | — | — | — | $0.47 | $0.51 |
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Open PRG in InvestinglyQuestions
What was PROG's revenue in 2025?
$2.4B in fiscal 2025, from its 10-K filing.
How much free cash flow does PROG generate?
$325M in fiscal 2025 (operating cash flow minus capital spending).
From PROG's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.