Pegasystems Inc. (PEGA) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.43	$0.35	-18.6%	—	$420.7M	—
Q1 26	$0.69	$0.46	-33.3%	—	$430M	—
Q4 25	$0.73	$0.76	+4.1%	—	$504.3M	—
Q3 25	$0.2	$0.3	+50.0%	—	$381.4M	—
Q2 25	$0.24	$0.28	+16.7%	—	$384.5M	—
Q1 25	$0.25	$0.77	+208.0%	—	$475.6M	—
Q4 24	$0.74	$0.81	+9.5%	—	$490.8M	—
Q3 24	$0.17	$0.2	+17.6%	—	$325.1M	—
Q2 24	$0.15	$0.26	+73.3%	—	$351.2M	—
Q1 24	$0.22	$0.24	+9.1%	—	$330.1M	—
Q4 23	$0.5	$0.89	+78.0%	—	$474.2M	—
Q3 23	$0.01	$0.44	+4300.0%	—	$334.6M	—
Q2 23	$0.03	$0.01	-66.7%	—	$298.3M	—
Q1 23	$0.37	$0.23	-37.8%	—	$325.5M	—
Q4 22	$0.11	$0.82	+645.5%	—	$396.5M	—
Q3 22	-$0.29	-$0.34	-17.2%	—	$270.7M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$2.3	—	—	$1.7B	—
FY24	—	$0.58	—	—	$1.5B	—
FY23	—	$0.82	—	—	$1.4B	—
FY22	—	-$4.22	—	—	$1.3B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$762.2M	$888.5M	$891.6M	$911.4M	$1B	$1.2B	$1.3B	$1.4B	$1.5B	$1.7B
YoY change	+11.7%	+16.6%	+0.35%	+2.22%	+11.6%	+19.1%	+8.76%	+8.71%	+4.51%	+16.6%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	762.2M	888.5M	891.6M	911.4M	1B	1.2B	1.3B	1.4B	1.5B	1.7B
Cost of revenue	239.3M	279.7M	301.8M	310M	310.9M	336.4M	368.6M	378.5M	390.7M	421.4M
Gross profit	523M	608.8M	589.8M	601.4M	706.6M	875.3M	949.2M	1.1B	1.1B	1.3B
Gross margin	68.6%	68.5%	66.2%	66%	69.4%	72.2%	72%	73.6%	73.9%	75.9%
Research & development	145.5M	162.9M	181.7M	205.2M	237M	260.6M	294.3M	295.5M	298.1M	312.7M
Selling, general & administrative	323.9M	352.7M	425.1M	531M	613.1M	709.4M	742.5M	655.9M	647.6M	727.4M
Operating expenses	469.4M	515.6M	606.8M	736.2M	850.1M	970M	1B	951.4M	945.7M	1B
Operating income	53.5M	93.2M	-17M	-134.9M	-143.5M	-94.7M	-87.7M	102.7M	160.8M	284.4M
Operating margin	7.03%	10.5%	-1.91%	-14.8%	-14.1%	-7.82%	-6.65%	7.17%	10.7%	16.3%
Non-operating income, net	877K	-7.8M	2.8M	-1.8M	36.8M	-30M	-68M	-9.6M	-37.1M	-16.1M
Pretax income	55.3M	86.2M	-11.5M	-134.8M	-124.9M	-132M	-161.8M	95.4M	142.6M	280.6M
Income tax	10.3M	-12.3M	-22.2M	-44.4M	-63.5M	-68.9M	183.8M	27.6M	43.4M	-112.8M
Net income	45M	98.5M	10.6M	-90.4M	-61.4M	-63M	-345.6M	67.8M	99.2M	393.4M
Net margin	5.91%	11.1%	1.19%	-9.92%	-6.03%	-5.2%	-26.2%	4.73%	6.63%	22.5%
EBITDA	71.2M	124.3M	11.3M	-110.9M	-119.6M	-65.3M	-60.7M	149.4M	223.4M	344.2M
EPS	0.35	0.43	0.14	-1.14	-0.76	-0.77	-4.22	0.82	0.58	2.3
Diluted EPS	0.34	0.4	0.13	-1.14	-0.76	-0.77	-4.22	0.73	0.56	2.13

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	334.6M	474.2M	330.1M	351.2M	325.1M	490.8M	475.6M	384.5M	381.4M	504.3M	430M	420.7M
Cost of revenue	93.8M	90.6M	94.7M	96.9M	96.7M	102.4M	102.5M	109.6M	105.9M	103.5M	106.8M	108M
Gross profit	240.9M	383.6M	235.5M	254.2M	228.3M	388.5M	373.2M	274.9M	275.5M	400.9M	323.2M	312.7M
Gross margin	72%	80.9%	71.3%	72.4%	70.2%	79.1%	78.5%	71.5%	72.2%	79.5%	75.2%	74.3%
Research & development	75M	71.3M	72.1M	75.4M	74.2M	76.4M	74.3M	78.8M	78.8M	80.9M	82M	84.2M
Selling, general & administrative	158.9M	156.8M	151.2M	165.2M	163.4M	167.9M	171.9M	178.9M	182.2M	194.3M	204.2M	209.1M
Operating expenses	233.9M	228M	223.3M	240.6M	237.5M	244.2M	246.2M	257.7M	261M	275.2M	286.2M	293.3M
Operating income	7M	155.6M	12.2M	13.6M	-9.2M	144.2M	127M	17.2M	14.5M	125.7M	37M	19.4M
Operating margin	2.09%	32.8%	3.68%	3.87%	-2.82%	29.4%	26.7%	4.48%	3.79%	24.9%	8.6%	4.6%
Non-operating income, net	-11.7M	-2.4M	-30.8M	-3.5M	-7.6M	4.8M	-5M	4.8M	7.1M	-23M	-201K	-3.3M
Pretax income	-3.7M	154.9M	-15.2M	15.3M	-11.6M	154.2M	126.3M	25.2M	24.1M	105M	39.7M	18.5M
Income tax	3.5M	12.2M	-3M	8.6M	2.8M	35.1M	40.9M	-4.8M	-19.3M	-129.6M	6.9M	5.2M
Net income	-7.3M	142.7M	-12.1M	6.6M	-14.4M	119.1M	85.4M	30.1M	43.4M	234.6M	32.8M	13.3M
Net margin	-2.18%	30.1%	-3.67%	1.88%	-4.43%	24.3%	18%	7.82%	11.4%	46.5%	7.62%	3.17%
EBITDA	20.5M	163.6M	23.4M	21.5M	-2.4M	173M	138.9M	45.4M	23.4M	136.6M	44.1M	29M
EPS	-0.09	—	-0.14	0.08	-0.09	0.69	0.49	0.18	0.25	1.38	0.19	0.08
Diluted EPS	-0.09	—	-0.14	0.07	-0.09	0.63	0.46	0.17	0.24	1.27	0.18	0.08

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	1.4B	1.8B	1.9B	3.1B	5.4B	4.6B	1.4B	2B	—	10.2B	5.5B
Enterprise value	1.2B	1.6B	1.7B	3.1B	5.5B	4.9B	1.8B	2.2B	—	9.8B	5.3B
Shares outstanding	76.3M	77.4M	78.6M	79.1M	80.3M	81.4M	81.9M	83.2M	170.5M	170.8M	170.8M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	30.5	18.5	177	—	—	—	—	30	—	25.9	19.2
P/S	1.8	2.05	2.11	3.45	5.26	3.76	1.06	1.42	—	5.84	3.2
P/B	4.09	2.78	3.02	5.84	9.87	10.9	10.7	5.74	—	13	9.9
EV/EBITDA	17.4	12.9	147.4	-28.2	-45.9	-74.6	-29.6	14.7	—	28.6	25.1
EV/Sales	1.63	1.8	1.87	3.44	5.39	4.02	1.36	1.53	—	5.64	3.03
Earnings yield	3.28%	5.4%	0.57%	—	—	—	—	3.34%	—	3.86%	5.22%
FCF yield	1.51%	7.92%	4.92%	-1.68%	-0.48%	0.63%	-0.93%	9.89%	—	4.81%	9.29%
PEG	—	—	—	—	—	—	—	—	—	—	-0.35

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	68.6%	68.5%	66.2%	66%	69.4%	72.2%	72%	73.6%	73.9%	75.9%	74.3%
Operating margin	7.03%	10.5%	-1.91%	-14.8%	-14.1%	-7.82%	-6.65%	7.17%	10.7%	16.3%	4.6%
Net margin	5.91%	11.1%	1.19%	-9.92%	-6.03%	-5.2%	-26.2%	4.73%	6.63%	22.5%	18.7%
ROE	13.4%	15%	1.71%	-16.8%	-11.3%	-15.2%	-264.1%	19.2%	16.9%	50%	54.7%
ROA	6.88%	9.73%	1.08%	-9.18%	-3.83%	-3.96%	-25.5%	4.49%	5.61%	24.1%	9.07%
ROIC	21.6%	21.6%	-4.11%	-25.8%	-21.3%	-12.8%	-16.8%	14.3%	28.3%	65%	72.7%
Return on tangible assets	10.7%	12.3%	1.34%	-11.5%	-4.34%	-4.5%	-29.5%	5.08%	6.21%	26.8%	26.6%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.48	2.2	1.84	1.34	2.12	1.73	1.57	1.78	1.23	1.33	1.06
Quick ratio	1.48	2.2	1.84	1.34	2.12	1.73	1.57	1.78	1.23	1.33	1.06
Debt / equity	—	—	0	0.1	1.1	1.65	5.26	1.64	0.94	0.1	0.13
Debt / assets	—	—	0	0.05	0.37	0.43	0.51	0.38	0.31	0.05	0.05
Net debt / EBITDA	—	—	-18.3	0.14	-1.09	-4.94	-6.44	1.06	-0.85	-1.02	-1.24
Interest coverage	—	—	-1.2K	-635.1	-5.45	-15.6	-19.8	14.9	21.9	219.4	542.3
Effective tax rate	18.7%	0%	0%	0%	0%	0%	0%	29%	30.5%	0%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	9.98	11.5	11.3	11.5	12.7	14.9	16.1	17.2	8.78	10.2	10.3
EPS (basic)	0.35	0.43	0.14	-1.14	-0.76	-0.77	-4.22	0.82	0.58	2.3	2.3
EPS (diluted)	0.34	0.4	0.13	-1.14	-0.76	-0.77	-4.22	0.73	0.56	2.13	1.76
Book value per share	4.4	8.47	7.91	6.82	6.75	5.11	1.6	4.25	3.43	4.61	3.41
FCF per share	0.27	1.87	1.18	-0.67	-0.32	0.35	-0.16	2.42	1.98	2.87	2.87
Cash per share	1.75	2.89	2.64	0.86	5.79	4.46	3.63	5.09	4.34	2.49	2.2
Capex per share	0.25	0.18	0.15	0.13	0.32	0.13	0.43	0.2	0.05	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	2.5%	1.55%	1.33%	1.16%	2.49%	0.86%	2.68%	1.17%	0.52%	—	—
Capex / operating cash flow	41.6%	10.1%	14.1%	-23.4%	75.1%	114.7%	-148%	7.56%	2.14%	—	—
Payout ratio	20.4%	9.41%	88.8%	-10.5%	-15.7%	-15.5%	-2.85%	14.7%	10.3%	3.92%	6.82%
Dividend yield	0.67%	0.51%	0.5%	0.3%	0.18%	0.21%	0.7%	0.49%	—	0.15%	0.36%

Yield

0.36%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.03

ex-dividend Oct 1, 2026

Payout ratio

of earnings

Dividend growth

1 year

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Oct 1, 2026upcoming	$0.03
Aug 17, 2026	$0.083
Jul 1, 2026	$0.03
Apr 1, 2026

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$334.6M	$474.2M	$330.1M	$351.2M	$325.1M	$490.8M	$475.6M	$384.5M	$381.4M	$504.3M	$430M	$420.7M
YoY change	+23.6%	+19.6%	+1.44%	+17.7%	-2.87%	+3.5%	+44.1%	+9.5%	+17.3%	+2.75%	-9.6%	+9.42%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	133.8M	223.7M	207.4M	68.4M	465.2M	362.8M	297.2M	423.3M	740M	425.8M
Receivables	230.3M	222.7M	180.9M	199.7M	215.8M	182.7M	255.2M	300.2M	305.5M	264.7M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	425.1M	647.7M	610.6M	505.6M	976.9M	840.2M	846.5M	1B	1.3B	978.3M
Property, plant & equipment	38.3M	40.4M	36.6M	34.3M	108M	114.4M	131.2M	111.5M	104.2M	105.8M
Goodwill & intangibles	234.7M	209.7M	188.2M	197.5M	190M	192M	184.6M	177.2M	169.9M	165.4M
Total assets	654.7M	1B	982.6M	984.8M	1.6B	1.6B	1.4B	1.5B	1.8B	1.6B
Accounts payable	14.4M	17.4M	16.5M	17.5M	24M	15.3M	18.2M	11.3M	6.2M	12.9M
Short-term debt	—	—	—	—	18.5M	7M	15M	15M	482M	15.1M
Total current liabilities	287.5M	294.8M	331.8M	378M	460.1M	485.4M	538.9M	577.1M	1.1B	737.8M
Long-term debt	—	—	0	52.6M	577.3M	678.5M	672.8M	566.3M	67.6M	60.8M
Total liabilities	318.8M	356.9M	361M	445.8M	1.1B	1.2B	1.2B	1.2B	1.2B	844.5M
Shareholders' equity	335.9M	655.9M	621.5M	539M	542.2M	416.1M	130.8M	353.8M	585.5M	787.4M
Total debt	—	—	0	52.6M	595.8M	685.5M	687.7M	581.3M	549.7M	76M
Net debt	—	—	-114.4M	-15.8M	423.9M	525.6M	542.7M	351.4M	212.6M	-136.5M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	336.3M	423.3M	618.9M	665.1M	703M	740M	371.7M	411.6M	351.4M	425.8M	474M	361.9M
Receivables	168.8M	300.2M	192M	165.7M	173.6M	305.5M	202.9M	156.5M	160.9M	264.7M	173.9M	143.2M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	776.5M	1B	1.1B	1.1B	1.1B	1.3B	846.5M	845.6M	811.8M	978.3M	903.9M	761.7M
Property, plant & equipment	115.4M	111.5M	106.4M	110.5M	106M	104.2M	40.8M	40.9M	102.4M	105.8M	107.1M	109.5M
Goodwill & intangibles	178.8M	177.2M	175M	173.2M	172.2M	169.9M	168.6M	168M	166.5M	165.4M	166M	165.3M
Total assets	1.2B	1.5B	1.5B	1.5B	1.6B	1.8B	1.3B	1.3B	1.3B	1.6B	1.6B	1.4B
Accounts payable	20.5M	11.3M	6.4M	16.7M	20.1M	6.2M	16.6M	17.1M	8.1M	12.9M	14.2M	53M
Short-term debt	15.5M	15M	514.2M	515.9M	516.2M	482M	14.1M	13.8M	14.4M	15.1M	15.1M	15M
Total current liabilities	472.8M	577.1M	1B	1B	1B	1.1B	609.1M	599.6M	597.5M	737.8M	743.4M	719.3M
Long-term debt	567.6M	566.3M	63.6M	70.2M	66.8M	67.6M	65.1M	65.2M	62.4M	60.8M	57.1M	57M
Total liabilities	1.1B	1.2B	1.1B	1.1B	1.1B	1.2B	710.7M	699.9M	696M	844.5M	845.1M	823.7M
Shareholders' equity	167.6M	353.8M	390.2M	435.4M	473M	585.5M	611.3M	624.5M	596.8M	787.4M	705.9M	560.4M
Total debt	583.2M	581.3M	577.8M	586.1M	583M	549.7M	79.3M	79M	76.8M	76M	72.1M	72M
Net debt	414.1M	351.4M	285.9M	327.8M	295.3M	212.6M	-151.9M	-122.5M	-71.9M	-136.5M	-197.8M	-113.1M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	45M	98.5M	10.6M	-90.4M	-61.4M	-63M	-345.6M	67.8M	99.2M	393.4M
Depreciation & amortization	24.1M	24.7M	25.3M	21.4M	21.3M	28.6M	18.8M	18.7M	35.4M	25.9M
Stock-based compensation	40.8M	53.3M	63.9M	80.9M	103.1M	115.9M	122.2M	143.4M	142.7M	155.2M
Change in working capital	-69.9M	-48.5M	-86K	-51M	-33M	-59.5M	-64.4M	-78M	19.2M	39.4M
Operating cash flow	45.8M	136M	84.4M	-45.3M	33.8M	9.1M	-23.9M	222M	360.5M	505.2M
Capital expenditure	-19.1M	-13.7M	-11.9M	-10.6M	-25.4M	-10.5M	-35.4M	-16.8M	-7.7M	—
Investing cash flow	-7.2M	-14.8M	-48.2M	70.1M	-321.7M	72.5M	13.1M	-50.8M	-202.6M	211.8M
Dividends paid	-9.2M	-9.3M	-9.4M	-9.5M	-9.6M	-9.8M	-9.8M	-10M	-10.2M	-15.4M
Share repurchases	-42.5M	-45M	-92M	-67M	-103.5M	-122.6M	-46.3M	-1.9M	-73.5M	-517.2M
Financing cash flow	-51.7M	-54.2M	-101.5M	-121.5M	420.4M	-132.4M	-56.2M	-100.5M	-117.6M	-1B
Net change in cash	-13M	67M	-65.3M	-96.7M	132.5M	-50.8M	-67M	70.8M	40.3M	-283.5M
Free cash flow	20.8M	144.5M	92.5M	-52.8M	-25.9M	28.7M	-13M	201M	338.2M	490.7M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	-7.3M	142.7M	-12.1M	6.6M	-14.4M	119.1M	85.4M	30.1M	43.4M	234.6M	32.8M	13.3M
Depreciation & amortization	4.6M	4.6M	4.3M	1.1M	-3.4M	22.1M	6M	6.2M	6.3M	7.5M	6.4M	6.3M
Stock-based compensation	31.3M	33.3M	34.8M	36.2M	37.2M	34.5M	41.4M	36.7M	43M	34M	45.8M	36.2M
Change in working capital	—	—	—	—	—	—	—	—	—	—	—	—
Operating cash flow	55.3M	211.3M	45.1M	61.9M	37.7M	187.5M	152.6M	88.1M	56.3M	158.4M	212.3M	86M
Capital expenditure	-338K	-2.5M	-604K	-1.3M	-3.1M	-2.8M	-1.9M	-2.1M	—	—	—	—
Investing cash flow	-40.2M	-26.6M	-132.4M	-77.3M	-6.3M	13.4M	261.9M	-48.9M	6.4M	-11.6M	8.5M	27.3M
Dividends paid	-2.5M	-2.5M	-2.5M	-2.5M	-2.6M	-2.6M	-2.6M	-2.6M	-5.2M	-5.1M	-5.1M	-5.1M
Share repurchases	-232K	-262K	-2M	-355K	-11.9M	-59.3M	-119.5M	-138.8M	-149M	-109.9M	-169.4M	-201.2M
Financing cash flow	-2.7M	-2.8M	-4.5M	-2.9M	-14.4M	-95.7M	-590M	-141.3M	-154.2M	-115M	-174.5M	-206.3M
Net change in cash	12.4M	182M	-91.8M	-18.3M	17M	105.2M	-175.5M	-102.1M	-91.5M	31.8M	46.3M	-93M
Free cash flow	23.8M	77.4M	179.5M	38.8M	27.4M	92.4M	202.3M	84.1M	51.8M	152.4M	206.5M	81.7M

Date	Ratio
Jun 23, 2025	2:1
Apr 2, 2014	2:1

Pegasystems Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history