PROG Holdings, Inc. PRG R2K

Industrials · Rental & Leasing Services · United States

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.

Market & Price

Market Cap

$1.47B

Current Price

$36.77

High / Low (52W)

$40.14 / $25.95

Beta

1.83

Valuation

Stock P/E

9.36

Industry PE

28.38

Forward P/E

6.90

PEG Ratio

0.93

Book Value

$19.33

Price to Book

1.90

P/S

0.59

EV/EBITDA

5.67

Dividend Yield

1.52%

Profitability & Returns

ROCE

14.52%

ROE

17.63%

ROA

13.78%

Profit Margin

5.96%

Op Margin

14.67%

EPS (Latest Qtr)

$0.89

EPS (TTM)

$3.93

Balance Sheet & Liquidity

Debt/Equity

1.21

Quick Ratio

3.69

Current Ratio

4.83

Debt

$936.12M

Total Assets

$1.61B

Current Assets

$1.20B

Working Capital

$1.06B

Ownership

Promoter Holding

4.16%

Chg in Prom Hold

FII / Inst Holding

107.73%

Chg in FII Hold

Financial Snapshot

Enterprise Value

$2.34B

Total Revenue (TTM)

$2.48B

EBITDA

$412.87M

Free Cash Flow

$1.49B

Operating Cash Flow

$296.73M

Shares Outstanding

40.07M

Gross Margin

34.77%

Payout Ratio

13.49%

Growth (CAGR)

Revenue 5Y

-2.48%

Profit 5Y

14.14%

Revenue (YoY)

11.10%

Earnings (YoY)

6.40%

PROS

Profit CAGR of 14.1% over 5 years.
Generates positive free cash flow.
In a confirmed uptrend (50-DMA above 200-DMA).

CONS

Revenue declined at -2.5% CAGR over 5 years.

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Industrials).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	PRG PROG Holdings, Inc. R2K	36.77	9.36	$1.47B	1.52%	14.52%	17.63%	-2.48%	14.14%
2	CAT Caterpillar Inc. SPX	875.87	43.66	$403.42B	0.69%	19.42%	51.33%	4.38%	9.83%
3	GE GE Aerospace SPX	323.76	40.17	$338.27B	0.58%	11.89%	45.43%	16.32%	195.89%
4	GEV GE Vernova Inc. SPXAI	968.32	28.33	$260.21B	0.21%	6.30%	75.71%	8.68%	92.84%
5	RTX RTX Corporation SPX	179.66	33.64	$241.95B	1.54%	9.41%	11.57%	9.72%	9.01%
6	UNP Union Pacific Corporation SPX	262.64	21.60	$155.93B	2.10%	16.19%	40.69%	-0.49%	0.66%
7	ETN Eaton Corporation plc SPXAI	400.60	39.20	$155.55B	1.10%	16.23%	20.84%	9.77%	18.41%
8	HON Honeywell International Inc. NDXSPX	237.86	38.00	$150.72B	2.00%	13.57%	24.26%	1.82%	-1.62%
9	DE Deere & Company SPX	542.18	30.67	$146.45B	1.20%	12.82%	18.35%	-4.50%	-11.00%

Quarterly Results

Figures in USD.

Metric	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Mar 2022	Jun 2022	Sep 2022	Mar 2023	Jun 2023	Sep 2023	Mar 2024	Jun 2024	Sep 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	668.43M	604.66M	595.11M	525.36M	742.67M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	62.51M
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	668.43M	-	-	-	680.17M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	564.07M	498.46M	493.22M	443.80M	583.38M
Operating Income	-	-	55.50M	-	49.83M	59.76M	95.65M	-	106.11M	92.31M	78.32M	49.47M	36.94M	36.81M	76.08M	59.30M	54.88M	39.82M	55.68M	-	104.36M	106.20M	101.89M	81.56M	96.79M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	523.29M	453.46M	440.08M	411.23M	487.79M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9.48M	9.79M	9.79M	9.77M	17.07M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	47.25M	52.58M	45.65M	29.07M	47.56M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	12.66M	14.09M	12.53M	11.04M	11.35M
Net Income	56.08M	42.65M	39.80M	-107.06M	-280.00M	68.38M	109.34M	40.82M	79.49M	68.84M	57.41M	27.14M	19.48M	16.00M	48.03M	37.22M	35.01M	21.97M	33.77M	-	34.72M	38.48M	33.12M	40.47M	36.05M
Diluted EPS	0.81	0.62	0.58	-1.60	-4.13	1.01	1.61	0.60	1.16	1.02	0.86	0.49	0.37	0.32	1.00	0.79	0.76	0.49	0.77	-	0.83	0.95	0.82	1.00	0.89

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	2.04B	2.16B	2.48B	-	2.60B	2.34B	2.40B	2.41B
Cost of Revenue	-	-	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-	-	-
Operating Expenses	-	-	-	-	2.19B	1.94B	1.99B	2.01B
Operating Income	156.80M	27.61M	271.76M	-	411.21M	397.78M	409.96M	403.90M
EBITDA	-	-	-	-	1.98B	1.83B	1.85B	1.83B
Interest Expense	-	-	-	-	38.67M	29.41M	38.82M	39.32M
Pretax Income	-	-	-	-	148.24M	189.30M	163.44M	174.52M
Tax Provision	-	-	-	-	49.53M	55.41M	-33.88M	50.17M
Net Income	196.21M	31.47M	-61.47M	-	98.71M	138.84M	197.25M	146.79M
Diluted EPS	2.78	0.47	-0.90	-	1.90	2.98	4.53	3.59

Compounded Sales Growth

5 Years:	-2.48%
1 Year:	11.10%

Compounded Profit Growth

5 Years:	14.14%
1 Year:	6.40%

Stock Price Performance

1 Year:	+29.81%
6 Months:	+27.09%
3 Months:	+5.36%
1 Month:	+3.02%

Balance Sheet (Annual)

Figures in USD.

Metric	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	-	3.30B	1.32B	1.62B	1.49B	1.49B	1.51B	1.61B
Current Assets	-	-	-	-	-	1.03B	1.05B	1.10B	1.20B
Cash & Equivalents	-	-	57.76M	36.65M	170.16M	131.88M	155.42M	90.92M	308.77M
Inventory	-	-	-	-	-	648.04M	633.43M	680.24M	609.01M
Receivables	-	-	-	-	-	64.52M	67.88M	80.21M	74.23M
Total Liabilities	-	-	1.56B	331.27M	942.35M	921.45M	899.92M	863.49M	863.99M
Current Liabilities	-	-	-	-	-	172.10M	186.97M	181.10M	138.12M
Long Term Debt	-	-	-	50.00M	589.65M	590.97M	592.26M	596.76M	597.46M
Total Debt	-	-	-	-	-	612.09M	608.11M	654.87M	602.12M
Total Equity	1.73B	1.76B	1.74B	986.14M	679.41M	570.46M	591.33M	650.28M	746.42M
Shares Outstanding	-	-	-	-	-	82.08M	82.08M	82.08M	82.08M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	356.50M	317.19M	455.96M	-	242.48M	204.24M	138.53M	334.96M
Investing Cash Flow	-263.13M	-106.28M	-114.53M	-	-53.53M	-38.83M	-79.17M	6.64M
Financing Cash Flow	-128.97M	-168.55M	-362.55M	-	-227.22M	-141.87M	-119.12M	-128.49M
Capital Expenditure	-78.84M	-92.96M	-64.34M	-	-9.67M	-9.62M	-8.32M	-10.04M
Free Cash Flow	277.65M	224.22M	391.62M	-	232.81M	194.62M	130.21M	324.92M
Net Change in Cash	-	-	-	-	-38.28M	23.54M	-59.76M	213.12M
Share Buybacks	168.74M	69.25M	0	142.36M	223.60M	139.57M	138.65M	51.77M

Ratios (Annual)

Figures in %.

Metric	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	-	-	-	-	-	-	-
Operating Margin %	7.7%	1.3%	10.9%	-	15.8%	17.0%	17.1%	16.8%
Net Margin %	9.6%	1.5%	-2.5%	-	3.8%	5.9%	8.2%	6.1%
ROE %	11.1%	1.8%	-6.2%	-	17.3%	23.5%	30.3%	19.7%
ROCE %	-	-	-	-	31.2%	30.5%	30.8%	27.4%

Shareholding Pattern

Insiders

4.16%

Institutions

107.73%

Public Float

112.41%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Blackrock Inc.	15.54%	6.23M	$229.00M
2	Vanguard Portfolio Management LLC	6.16%	2.47M	$90.80M
3	Vanguard Capital Management LLC	4.18%	1.67M	$61.54M
4	State Street Corporation	4.17%	1.67M	$61.36M
5	Allianz Asset Management GmbH	3.41%	1.37M	$50.28M
6	Dimensional Fund Advisors LP	3.13%	1.26M	$46.18M
7	LSV Asset Management	2.94%	1.18M	$43.34M
8	FMR, LLC	2.89%	1.16M	$42.55M
9	Goldman Sachs Group Inc	2.75%	1.10M	$40.56M
10	Breach Inlet Capital Management, LLC	2.51%	1.01M	$37.03M

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