PROG
Runs lease-to-own, payroll-purchase, and BNPL payments for underserved consumers.
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Profile
Runs Progressive Leasing, Purchasing Power, and Four, with MoneyApp as a smaller app outside reportable segments. The business is concentrated in the U.S. and depends on retail partners, employer clients, underwriting, and working-capital funding.
Runs Progressive Leasing, Purchasing Power, and Four, with MoneyApp reported inside Other rather than as a reportable segment. Progressive Leasing provides in-store, app-based, and e-commerce lease-to-own options for durable goods bought through retail partners, while Purchasing Power lets employees buy products through payroll deductions and Four offers interest-free installment payments.
The footprint is concentrated in the United States, including partner locations, e-commerce sites, employer relationships, and digital channels. Its operating edge is software-led point-of-sale decisioning and partner integration across retailers, employers, and shoppers who may not fit traditional credit offers.
The model depends on retailer and employer-client relationships, credit and lease underwriting, liquidity to purchase merchandise or originate receivables, and consumer-finance rules around alternative payment products.
Company facts
Key statistics
Year to date +33.1% · Average volume (30d) 526.3K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 30, 2026 | KeyBanc | Reiterate | Overweight | $55 | $50 | |
| Jul 8, 2026 | Jefferies | Upgrade | Hold | Buy | $35 | $60 |
| Jul 1, 2026 | Loop Capital Markets | Downgrade | Buy | Hold | $55 | $48 |
| Jul 1, 2026 | Loop Capital | Downgrade | Buy | Hold | ||
| Apr 30, 2026 | Raymond James | Target | $48 | $45 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 29, 2026Q2 FY26 | $0.95 | $1.19 | +25.7% | $713.5M | $719.7M | +0.9% | −5.10% |
| Apr 29, 2026Q1 FY26 | $0.78 | $1.24 | +59.0% | $732.7M | $742.7M | +1.4% | −0.03% |
| Feb 18, 2026Q4 FY25 | $0.60 | $0.74 | +23.3% | $584.0M | $574.6M | −1.6% | +11.90% |
| Oct 22, 2025Q3 FY25 | $0.73 | $0.90 | +23.3% | $581.8M | $595.1M | +2.3% | −4.42% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $684.1M | $604.7M | $595.1M | $574.6M | $742.7M | $611.3M | |
| Gross profit | $223.6M | $219.6M | $216.6M | $202.2M | $257.0M | $263.8M | |
| Operating income | $56.3M | $60.7M | $53.5M | $46.6M | $57.0M | $73.9M | |
| Net income | $34.7M | $38.5M | $33.1M | $40.5M | $36.1M | $37.0M | |
| Diluted EPS | $0.83 | $0.95 | $0.82 | $1.00 | $0.88 | $0.91 | |
| Gross margin | 32.7% | 36.3% | 36.4% | 35.2% | 34.6% | 43.2% | |
| Operating margin | 8.2% | 10.0% | 9.0% | 8.1% | 7.7% | 12.1% |
Fiscal years (4-quarter sums)FY21 $2.68B · FY22 $2.60B · FY23 $2.41B · FY24 $2.46B · FY25 $2.46B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $85.2M · Total debt $887.1M · Total assets $2.05B · Shareholders' equity $805.3M
Dividends
Last raised to $0.14 from $0.13 in Mar 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 18, 2026 | Aug 18 | Sep 3 | $0.14 | |
| May 19, 2026 | May 19 | Jun 2 | $0.14 | |
| Mar 12, 2026 | Mar 12 | Mar 24 | $0.14 | raised from $0.13 |
| Nov 18, 2025 | Nov 18 | Dec 2 | $0.13 | |
| Aug 19, 2025 | Aug 19 | Sep 4 | $0.13 | |
| May 20, 2025 | May 20 | Jun 3 | $0.13 | |
| Mar 13, 2025 | Mar 13 | Mar 25 | $0.13 | raised from $0.12 |
| Nov 19, 2024 | Nov 19 | Dec 3 | $0.12 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 39.83M · Float 38.34M · 96.3% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 6.84M | 17.18% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 2.51M | 6.30% | 13F | Aug 13, 2026 |
| Vanguard Capital Management | 2.00M | 5.00% | 13G | Jul 31, 2026 |
| State Street Corp | 1.73M | 4.33% | 13F | Aug 7, 2026 |
| Allianz Asset Management GmbH | 1.49M | 3.74% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 5, 2026 | Michael Todd King | officer: Chief Legal and Compliance Off | −1,070 | $46.00 |
| Aug 4, 2026 | Michael Todd King | officer: Chief Legal and Compliance Off | −930 | $46.00 |
| Aug 5, 2026 | George M. Sewell | officer: CAO, SVP Fin Rep | −2,000 | $45.53 |
Peers
- Upbound Group
Closest public LTO peer through Acima and Rent-A-Center
- Katapult
E-commerce LTO platform for non-prime durable-goods shoppers
- Affirm
Large BNPL and installment-loan network at merchant checkout
- Synchrony Financial
Retail credit and installment financing for merchant partners
- Paychex
Payroll-linked benefits marketplace competing for employer channels
- Block
Afterpay and Cash App pressure BNPL, wallet, and cash-advance use
- PayPal
Broad wallet distribution with Pay in 4 and Pay Monthly
- Klarna
Global BNPL platform now trading publicly on NYSE
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| PROG | $39.10 | +0.01% | $1.56B | 10.8 | 7.7 | 0.6 | +19.0% |
| Upbound Group | $19.22 | 0.00% | $1.12B | 12.5 | 4.4 | 0.2 | +0.5% |
| Katapult | $5.69 | −0.96% | $27.1M | 3.8 | — | 0.1 | +4.0% |
| Affirm | $77.40 | −0.37% | $26.04B | 70.7 | 44.6 | 6.6 | +33.0% |
| Synchrony Financial | $80.54 | +3.19% | $25.40B | 8.0 | 8.2 | 1.3 | −21.1% |
| Paychex | $127.04 | +0.02% | $45.19B | 26.0 | 21.3 | 6.9 | +12.5% |
| Block | $83.54 | −0.05% | $49.74B | 149.2 | 18.3 | 2.0 | +9.3% |
| PayPal | $53.74 | +0.15% | $45.90B | 10.1 | 9.7 | 1.3 | +4.8% |
| Klarna | $14.33 | +1.06% | $5.36B | — | 106.9 | 1.3 | — |
| Median | 12.5 | 18.3 | 1.3 | +4.8% |