PROG Holdings (PRG) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

PROG Holdings

NYSE•Industrials•Rental & Leasing Services

$31.83+1.18(0.04%)After hours

Market Cap

$1.38B

P/E

9.1x

P/S

0.5x

P/B

1.7x

PROG Holdings, Inc., a financial technology holding company, provides payment options to consumers in the United States. The company operates through two segments: Progressive Leasing and Four. It owns Progressive Leasing, an in-store, app-based, and e-commerce point-of-sale lease-to-own solutions provider; and Four, which enables consumers of all credit backgrounds to pay for purchases over time through short-term, interest-free instalment buy-now-pay-later BNPL plans. The company offers Purchasing Power, that provides these underserved customers with alternatives to traditional financing options. The company was formerly known as Aaron's Holdings Company, Inc. and changed its name to PROG Holdings, Inc. in December 2020. PROG Holdings, Inc. was founded in 1955 and is based in Draper, Utah.

How this company scores

AverageMetricSide Score: 59/100

Strongest: Cash & Earnings Quality (21/25); weakest: Profitability (12/25).

Profitability12/25

Growth13/25

Balance Sheet & Red Flags13/25

Cash & Earnings Quality21/25

Strengths

High ROECash-backed earningsNo share dilution

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 9.1x5y range 5.2x – 13.6x

Currently near its 20-quarter median.

P/S · 0.5x5y range 0.3x – 1.1x

Currently near its 20-quarter median.

P/B · 1.7x5y range 1.4x – 4.2x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Cash Burn

Watch

FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.

Price & Volume

Market Cap $1.38B

Metrics at a Glance

as of September 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $2.71B
Q. Revenue: $725.78M
TTM EBITDA: $274.42M
TTM Op. Income: $233.12M
Q. Op. Income: $65.98M
TTM Net Income: $150.79M
Q. Net Income: $37.24M
EPS: $0.94
Shares Out.: $39.63M

$2.71B in TTM revenue grew 8.2% YoY, reaching $725.78M last quarter. TTM EBITDA of $274.42M and TTM operating income of $233.12M show growth is flowing through to the bottom line. TTM net income of $150.79M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 3 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 10.5%
Op. Margin: 9.1%
Net Margin: 5.1%

Op. margin of 9.1% is up 0.1% YoY — cost efficiency is improving. Net margin at 5.1% Over the past year, operating margin is up 1% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 9.1x
P/S Ratio: 0.5x
P/B Ratio: 1.7x

At 9.1x P/E, the stock trades below typical market levels. P/S of 0.5x and P/B of 1.7x provide additional context. P/E sits below typical market levels while revenue is growing. Over the past year, P/E is up 15% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $2.06B
Cash: $108.92M
Long-Term Debt: $865.84M
Book Value: $808.00M
D/E Ratio: 1.1
Debt/EBITDA: 11.3

With $2.06B in assets and $865.84M in long-term debt, D/E is 1.1and book value is $808.00M — moderate leverage. Across the last 5 quarters, debt/equity has fallen for 2 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $108.22M
TTM Free Cash Flow: $315.64M
FCF Margin: 11.6%
FCF / Net Income: 2.1

TTM FCF of $315.64M on $108.22M in operating cash flow. The FCF / Net Income ratio of 2.1x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 7% — a weakening trend.