Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Progress SoftwarePRGS -2.68%79 EV-to-EBITDA is 9.26 as of Aug. 17, 2026, which is 39% below its 10-year median of 15.12. GuruFocus rates PRGS with a GF Score™ of 79/100 and a GF Value™ of $78.84 (Possible Value Trap). The stock has 7 warning signs investors should review. Among 1,962 Software companies, Progress Software ranks better than 55.4% on this metric.
EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, Progress Software's enterprise value is $2,971 Mil.
Progress Software's EBITDA for the trailing twelve months (TTM) ended in May. 2026 was $321 Mil. Therefore, Progress Software's EV-to-EBITDA for today is 9.26.
The historical rank and industry rank for Progress Software's EV-to-EBITDA or its related term are showing as below:
PRGS'
s EV-to-EBITDA Range Over the Past 10 Years
Min: 7.61 Med: 15.12 Max: 499.83
Current: 9.26
During the past 13 years, the highest EV-to-EBITDA of Progress Software was 499.83. The lowest was 7.61. And the median was 15.12.
PRGS's EV-to-EBITDA is ranked better than 55.4% of 1962
companies
in the Software industry
Industry Median: 10.545
vs PRGS: 9.26
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio to determine the fair market value of a company.
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Progress Software's PE Ratio (TTM) for today is calculated as:
Progress Software's share price for today is $42.605.
Progress Software's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in May. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $2.060.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Study has found that the companies with the lowest EV-to-EBITDA outperforms companies measured as cheap by other ratios such as PE Ratio (TTM).
The historical data trend for Progress Software's EV-to-EBITDA can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Software - Infrastructure subindustry, Progress Software's EV-to-EBITDA, along with its competitors' market caps and EV-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Progress Software EV-to-EBITDA vs Software Industry
For the Software industry and Technology sector, Progress Software's EV-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Progress Software's EV-to-EBITDA falls into.
Progress Software's current Enterprise Value is $2,971 Mil.
Progress Software's EBITDA for the trailing twelve months (TTM) ended in May. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $321 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Progress Software (PRGS) has a EV-to-EBITDA of 9.26 as of Aug. 17, 2026. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Progress Software. This is 39% below median its historical median of 15.12. Over the past decade, Progress Software's EV-to-EBITDA has ranged from 7.61 to 499.83. According to the industry distribution chart, Progress Software ranks #875 out of 1962 companies in the Software industry, placing it in the top 44.6%.
Is Progress Software's EV-to-EBITDA too high?
Progress Software's current EV-to-EBITDA of 9.26 is 39% below median its 10-year median of 15.12. Over the past 10 years, this metric has ranged from a low of 7.61 to a high of 499.83. The Software industry median EV-to-EBITDA is 10.55. Progress Software's value of 9.26 is 12.2% below this industry median. Based on the distribution chart, Progress Software ranks #875 out of 1962 companies in the Software industry, which is above the industry midpoint. Overall, Progress Software has a GF Score™ of 79/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Progress Software's EV-to-EBITDA compare to PICS and NN?
According to the Software industry distribution chart, Progress Software ranks #875 out of 1962 companies for EV-to-EBITDA. This puts Progress Software in the upper half of its industry. The industry median EV-to-EBITDA is 10.55. Progress Software's value of 9.26 is 12.2% below this benchmark. Historically, Progress Software's own EV-to-EBITDA has ranged from 7.61 to 499.83 over the past decade. While the company's 10-year median is 15.12 vs. the industry median of 10.55, Progress Software has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-EBITDA for a Software company?
The median EV-to-EBITDA among Software companies is 10.55, based on 1,962 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, EV-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Progress Software's current EV-to-EBITDA of 9.26 is 12.2% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-EBITDA mean?
A high EV-to-EBITDA can signal that a stock is expensive relative to its fundamentals. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Progress Software. For the Software industry, the median EV-to-EBITDA is 10.55 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Progress Software's current EV-to-EBITDA is 9.26, which is 39% below median its own 10-year median of 15.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Progress Software stock overvalued right now?
Based on GuruFocus' analysis, Progress Software (PRGS) is currently considered Possible Value Trap. The stock's GF Value™ is $78.84, compared to a current price of $42.61 — trading 46% below its estimated fair value. The current EV-to-EBITDA is 9.26, which is 39% below median its 10-year median of 15.12 and 12.2% below the Software industry median of 10.55. Progress Software's overall GF Score™ is 79/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-EBITDA calculated?
EV-to-EBITDA is calculated from a company's financial statements. For Progress Software (PRGS), the current EV-to-EBITDA is 9.26 as of Aug. 17, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Progress Software (PRGS) Overvalued in 2026?
Based on GuruFocus' analysis, Progress Software stock appears to be undervalued.
The current stock price of $42.61 is trading 46% below its estimated GF Value™ of $78.84.
GuruFocus considers Progress Software to be Possible Value Trap.
Key valuation signals for PRGS:
EV-to-EBITDA: 9.26 (39% below median its 10-year median of 15.12)
GF Value™: $78.84 vs. price of $42.61 (46% below fair value)
Industry Position: 12.2% below the Software median (#875 of 1962)
No single metric tells the full story. See the PRGS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Progress Software Corp provides software products that enable customers to develop, deploy, and manage AI-powered applications and digital experiences. The Company operates across North America, Latin America, Europe, the Middle East and Africa (EMEA), and Asia Pacific through subsidiaries and distributors, generating a majority of its revenue from the United States. Its product portfolio includes Progress Agentic RAG, Automate MFT, Chef, Corticon, DataDirect, Developer Tools, Flowmon, Kemp LoadMaster, MarkLogic, MOVEit, OpenEdge, Semaphore, ShareFile, Sitefinity, and WhatsUp Gold, offering solutions for application development, data connectivity, DevOps automation, managed file transfer, network security, and digital experience. It generates maximum revenue from the United States.
79GF Score
Get the complete analysis for PRGS
EV-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
PRGS has been successfully added to your 
