(PRG) PROG Holdings - NYSE
Sector: Industrials | Industry: Rental & Leasing Services | Exchange: NYSE (USA) | Market Cap: 1.412m USD | Total Return: 27.1% in 12m
Avg Turnover: 13.5M
EPS Trend: -19.3%
Qual. Beats: 4
Rev. Trend: 57.3%
Qual. Beats: 0
Warnings
Choppy
Tailwinds
No distinct edge detected
PROG Holdings, Inc. (NYSE: PRG) is a financial technology firm specializing in alternative financing and point-of-sale payment solutions. The company operates primarily through two segments: Progressive Leasing, which facilitates lease-to-own transactions for e-commerce and physical retail, and Four, a Buy Now, Pay Later (BNPL) platform offering interest-free installments. Formerly known as Aarons Holdings Company, Inc., the firm rebranded in 2020 to focus on its digital-first financial services.
The company operates within the consumer finance sector, specifically targeting credit-underserved populations who may not qualify for traditional revolving credit. Lease-to-own models typically involve the provider purchasing the merchandise from the retailer and leasing it to the customer, while BNPL services generate revenue through merchant discount rates and late fees. For a more granular view of these revenue streams, investors can explore the detailed financial breakdowns on ValueRay. This business model relies heavily on proprietary credit scoring algorithms to manage risk across various consumer credit backgrounds.
- Lease-to-own GMV growth tied to retail partner point-of-sale volume
- Credit quality trends and provision for loan losses impact net margin
- Buy-now-pay-later adoption rates influence long-term revenue diversification strategy
- Regulatory oversight of alternative financing fees poses significant compliance risk
- Macroeconomic pressure on subprime consumers dictates demand for credit alternatives
| Net Income: 148.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.14 > 0.02 and ΔFCF/TA 0.06 > 1.0 |
| NWC/Revenue: 38.42% < 20% (prev 35.50%; Δ 2.92% < -1%) |
| CFO/TA 0.15 > 3% & CFO 296.7m > Net Income 148.1m |
| Net Debt (863.9m) to EBITDA (1.79b): 0.48 < 3 |
| Current Ratio: 8.06 > 1.5 & < 3 |
| Outstanding Shares: last quarter (40.8m) vs 12m ago -2.49% < -2% |
| Gross Margin: 35.85% > 18% (prev 33.65%; Δ 2.20% > 0.5%) |
| Asset Turnover: 143.3% > 50% (prev 170.5%; Δ -27.15% > 0%) |
| Interest Coverage Ratio: 4.95 > 6 (EBIT TTM 221.4m / Interest Expense TTM 44.7m) |
| A: 0.47 (Total Current Assets 1.10b - Total Current Liabilities 137.0m) / Total Assets 2.04b |
| B: 0.80 (Retained Earnings 1.62b / Total Assets 2.04b) |
| C: 0.13 (EBIT TTM 221.4m / Avg Total Assets 1.76b) |
| D: 0.61 (Book Value of Equity 774.4m / Total Liabilities 1.27b) |
| Altman-Z'' = 7.19 = AAA |
| DSRI: 2.32 (Receivables 493.2m/211.3m, Revenue 2.52b/2.51b) |
| GMI: 0.94 (GM 33.65% / 35.85%) |
| AQI: 1.61 (AQ_t 0.45 / AQ_t-1 0.28) |
| SGI: 1.00 (Revenue 2.52b / 2.51b) |
| TATA: -0.07 (NI 148.1m - CFO 296.7m) / TA 2.04b) |
| Beneish M = -1.64 (Cap -4..+1) = CCC |
As of June 10, 2026, the stock is trading at USD 36.91 with a total of 277,272 shares traded.
Over the past week, the price has changed by +2.58%,
over one month by +4.97%,
over three months by +13.81% and
over the past year by +27.13%.
PROG Holdings has received a consensus analysts rating of 4.29. Therefore, it is recommended to buy PRG.
- StrongBuy: 4
- Buy: 1
- Hold: 2
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 45.8 | 24.1% |
P/E Trailing = 8.9695
P/E Forward = 8.726
P/S = 0.5687
P/B = 1.8239
P/EG = 0.9304
Revenue TTM = 2.52b USD
EBIT TTM = 221.4m USD
EBITDA TTM = 1.79b USD
Long Term Debt = 886.1m USD (from longTermDebt, last quarter)
Short Term Debt = 50.0m USD (from shortLongTermDebt, last quarter)
Debt = 943.4m USD (from shortLongTermDebtTotal, last quarter) + Leases 7.26m
Net Debt = 863.9m USD (calculated: Debt 943.4m - CCE 79.5m)
Enterprise Value = 2.28b USD (1.41b + Debt 943.4m - CCE 79.5m)
Interest Coverage Ratio = 4.95 (Ebit TTM 221.4m / Interest Expense TTM 44.7m)
EV/FCF = 7.97x (Enterprise Value 2.28b / FCF TTM 285.5m)
FCF Yield = 12.54% (FCF TTM 285.5m / Enterprise Value 2.28b)
FCF Margin = 11.34% (FCF TTM 285.5m / Revenue TTM 2.52b)
Net Margin = 5.88% (Net Income TTM 148.1m / Revenue TTM 2.52b)
Gross Margin = 35.85% ((Revenue TTM 2.52b - Cost of Revenue TTM 1.61b) / Revenue TTM)
Gross Margin QoQ = 34.61% (prev 35.19%)
Tobins Q-Ratio = 1.11 (Enterprise Value 2.28b / Total Assets 2.04b)
Interest Expense / Debt = 4.74% (Interest Expense 44.7m / Debt 943.4m)
Taxrate = 27.91% (49.5m / 177.2m)
NOPAT = 159.6m (EBIT 221.4m * (1 - 27.91%))
Current Ratio = 8.06 (Total Current Assets 1.10b / Total Current Liabilities 137.0m)
Debt / Equity = 1.22 (Debt 943.4m / totalStockholderEquity, last quarter 774.4m)
Debt / EBITDA = 0.48 (Net Debt 863.9m / EBITDA 1.79b)
Debt / FCF = 3.03 (Net Debt 863.9m / FCF TTM 285.5m)
Total Stockholder Equity = 723.3m (last 4 quarters mean from totalStockholderEquity)
RoA = 8.43% (Net Income 148.1m / Total Assets 2.04b)
RoE = 20.48% (Net Income TTM 148.1m / Total Stockholder Equity 723.3m)
RoCE = 13.76% (EBIT 221.4m / Capital Employed (Equity 723.3m + L.T.Debt 886.1m))
RoIC = 8.74% (NOPAT 159.6m / Invested Capital 1.83b)
WACC = 7.23% (E(1.41b)/V(2.36b) * Re(9.78%) + D(943.4m)/V(2.36b) * Rd(4.74%) * (1-Tc(0.28)))
Discount Rate = 9.78% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -73.33 | Cagr: -4.32%
[DCF] Terminal Value 77.97% ; FCFF base≈253.1m ; Y1≈290.2m ; Y5≈427.0m
[DCF] Fair Price = 138.8 (EV 6.43b - Net Debt 863.9m = Equity 5.56b / Shares 40.1m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: -19.27 | EPS CAGR: -0.76% | SUE: 4.0 | # QB: 4
Revenue Correlation: 57.32 | Revenue CAGR: 1.24% | SUE: 0.40 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.94 | Chg30d=-15.70% | Revisions=-43% | Analysts=7
EPS next Quarter (2026-09-30): EPS=1.06 | Chg30d=+0.09% | Revisions=-25% | Analysts=7
EPS current Year (2026-12-31): EPS=4.65 | Chg30d=+10.14% | Revisions=+43% | GrowthEPS=+32.5% | GrowthRev=+26.4%
EPS next Year (2027-12-31): EPS=5.33 | Chg30d=+4.68% | Revisions=+25% | GrowthEPS=+14.7% | GrowthRev=+8.0%
[Analyst] Revisions Ratio: -43%