Pomanda estimates the enterprise value of PROGRESS SOFTWARE LIMITED at £20.1m based on a Turnover of £25.2m and 0.8x industry multiple (adjusted for size and gross margin).
progress software limitedEstimated Valuation
£2.1m
Pomanda estimates the enterprise value of PROGRESS SOFTWARE LIMITED at £2.1m based on an EBITDA of £451k and a 4.76x industry multiple (adjusted for size and gross margin).
progress software limitedEstimated Valuation
£76.3m
Pomanda estimates the enterprise value of PROGRESS SOFTWARE LIMITED at £76.3m based on Net Assets of £32.4m and 2.36x industry multiple (adjusted for liquidity).
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Progress Software LimitedOverview
Progress Software Limited is a live company located in eastleigh, SO53 3TY with a Companies House number of 02243974. It operates in the business and domestic software development sector, SIC Code 62012. Founded in April 1988, it's largest shareholder is
progress software corp.
with a 100% stake. Progress Software Limited is a mature,
large sized company, Pomanda has estimated its turnover at
£25.2m with
healthy
growth in recent years.
Pomanda's financial health check has awarded Progress Software Limited a 3 rating. We use a traffic light system to show it exceeds the industry average on 4 measures and has 7 areas for improvement. Company Health Check FAQs
Health Rating3out of 5
4 Strong
0 Regular
7 Weak
Size
annual sales of £25.2m, make it larger than the average company (£3.5m)
£25.2m - Progress Software Limited
£3.5m - Industry AVG
Growth
3 year (CAGR) sales growth of 4%, show it is growing at a slower rate (9.1%)
4% - Progress Software Limited
9.1% - Industry AVG
Production
with a gross margin of 19.5%, this company has a higher cost of product (72%)
19.5% - Progress Software Limited
72% - Industry AVG
Profitability
an operating margin of 1.7% make it less profitable than the average company (3.6%)
1.7% - Progress Software Limited
3.6% - Industry AVG
Employees
with 44 employees, this is above the industry average (33)
44 - Progress Software Limited
33 - Industry AVG
Pay Structure
on an average salary of £160.9k, the company has a higher pay structure (£67.4k)
£160.9k - Progress Software Limited
£67.4k - Industry AVG
Efficiency
resulting in sales per employee of £571.6k, this is more efficient (£113.5k)
£571.6k - Progress Software Limited
£113.5k - Industry AVG
Debtor Days
it gets paid by customers after 102 days, this is later than average (61 days)
102 days - Progress Software Limited
61 days - Industry AVG
Creditor Days
its suppliers are paid after 1 days, this is quicker than average (44 days)
1 days - Progress Software Limited
44 days - Industry AVG
Stock Days
There is insufficient data available for this Key Performance Indicator!
- - Progress Software Limited
- - Industry AVG
Cash Balance
has cash to cover current liabilities
for 4 weeks, this is less cash available to meet short term requirements (19 weeks)
4 weeks - Progress Software Limited
19 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 23.3%, this is a lower level of debt than the average (60.9%)
23.3% - Progress Software Limited
60.9% - Industry AVG
PROGRESS SOFTWARE LIMITED financials
EXPORT
Progress Software Limited's latest turnover from November 2023 is £25.2 million and the company has net assets of £32.4 million. According to their latest financial statements, Progress Software Limited has 44 employees and maintains cash reserves of £837 thousand as reported in the balance sheet.
Data source:Companies House, Pomanda Estimates
Nov 2023
Nov 2022
Nov 2021
Nov 2020
Nov 2019
Nov 2018
Nov 2017
Nov 2016
Nov 2015
Nov 2014
Nov 2013
Nov 2012
Nov 2011
Nov 2010
Nov 2009
Turnover
25,151,000
26,774,000
21,950,000
22,251,000
21,914,000
23,958,000
23,607,000
22,935,000
21,335,000
20,471,000
22,686,000
30,090,000
39,662,000
38,004,000
34,272,000
Other Income Or Grants
Cost Of Sales
20,237,000
20,887,000
16,021,000
15,800,000
14,837,000
16,639,000
15,178,000
14,282,000
14,248,000
13,302,000
10,939,000
12,078,000
16,139,000
16,166,000
15,771,000
Gross Profit
4,914,000
5,887,000
5,929,000
6,451,000
7,077,000
7,319,000
8,429,000
8,653,000
7,087,000
7,169,000
11,747,000
18,012,000
23,523,000
21,838,000
18,501,000
Admin Expenses
4,489,000
5,279,000
5,580,000
6,025,000
6,907,000
6,589,000
7,829,000
8,528,000
6,924,000
6,364,000
5,713,000
17,478,000
23,019,000
21,549,000
17,909,000
Operating Profit
425,000
608,000
349,000
426,000
170,000
730,000
600,000
125,000
163,000
805,000
6,034,000
534,000
504,000
289,000
592,000
Interest Payable
23,000
679,000
38,000
266,000
1,018,000
753,000
677,000
536,000
379,000
453,000
492,000
509,000
456,000
501,000
Interest Receivable
719,000
545,000
3,000
600,000
465,000
453,000
369,000
54,000
66,000
61,000
78,000
256,000
217,000
Pre-Tax Profit
1,132,000
503,000
319,000
456,000
-71,000
172,000
-107,000
2,421,000
510,000
480,000
5,647,000
103,000
73,000
89,000
308,000
Tax
-231,000
-99,000
-40,000
-159,000
11,000
-6,000
-5,000
-537,000
291,000
-308,000
-1,071,000
-2,000
-625,000
-967,000
-637,000
Profit After Tax
901,000
404,000
279,000
297,000
-60,000
166,000
-112,000
1,884,000
801,000
172,000
4,576,000
101,000
-552,000
-878,000
-329,000
Dividends Paid
2,000,000
2,000,000
Retained Profit
901,000
404,000
279,000
297,000
-60,000
166,000
-112,000
-116,000
801,000
172,000
4,576,000
101,000
-552,000
-878,000
-2,329,000
Employee Costs
7,081,000
7,182,000
7,726,000
4,813,000
3,858,000
4,550,000
4,831,000
4,763,000
3,835,000
3,822,000
8,155,000
12,376,000
13,147,000
14,471,000
13,363,000
Number Of Employees
44
38
44
31
33
38
44
44
33
30
63
108
124
131
156
EBITDA*
451,000
632,000
375,000
441,000
191,000
792,000
660,000
203,000
277,000
1,087,000
6,561,000
1,277,000
2,580,000
4,769,000
1,458,000
* Earnings Before Interest, Tax, Depreciation and Amortisation
Nov 2023
Nov 2022
Nov 2021
Nov 2020
Nov 2019
Nov 2018
Nov 2017
Nov 2016
Nov 2015
Nov 2014
Nov 2013
Nov 2012
Nov 2011
Nov 2010
Nov 2009
Tangible Assets
60,000
27,000
36,000
52,000
24,000
117,000
149,000
196,000
65,000
158,000
251,000
585,000
659,000
265,000
521,000
Intangible Assets
11,000
11,000
11,000
11,000
154,000
883,000
1,394,000
3,240,000
7,490,000
Investments & Other
200,000
200,000
200,000
200,000
Debtors (Due After 1 year)
14,894,000
14,894,000
14,894,000
14,894,000
14,308,000
14,308,000
13,727,000
14,676,000
12,157,000
Total Fixed Assets
14,954,000
14,921,000
14,930,000
14,946,000
14,332,000
14,636,000
14,087,000
15,083,000
12,433,000
158,000
405,000
1,468,000
2,053,000
3,505,000
8,011,000
Stock & work in progress
Trade Debtors
7,086,000
13,458,000
4,000,000
5,185,000
4,520,000
3,637,000
5,208,000
5,017,000
4,416,000
5,324,000
6,218,000
5,925,000
7,805,000
9,907,000
8,486,000
Group Debtors
18,668,000
18,066,000
20,456,000
19,297,000
19,119,000
14,230,000
14,010,000
15,720,000
15,287,000
15,367,000
15,279,000
12,254,000
9,221,000
21,642,000
24,454,000
Misc Debtors
644,000
554,000
434,000
261,000
514,000
875,000
656,000
319,000
293,000
280,000
355,000
1,591,000
1,081,000
1,478,000
2,008,000
Cash
837,000
2,686,000
2,022,000
813,000
961,000
5,119,000
3,717,000
2,136,000
4,716,000
13,715,000
13,311,000
19,439,000
22,678,000
7,963,000
4,206,000
misc current assets
total current assets
27,235,000
34,764,000
26,912,000
25,556,000
25,114,000
23,861,000
23,591,000
23,192,000
24,712,000
34,686,000
35,163,000
39,209,000
40,785,000
40,990,000
39,154,000
total assets
42,189,000
49,685,000
41,842,000
40,502,000
39,446,000
38,497,000
37,678,000
38,275,000
37,145,000
34,844,000
35,568,000
40,677,000
42,838,000
44,495,000
47,165,000
Bank overdraft
Bank loan
Trade Creditors
57,000
9,000
32,000
89,000
84,000
159,000
140,000
284,000
131,000
134,000
133,000
633,000
974,000
140,000
405,000
Group/Directors Accounts
341,000
5,000
22,476,000
22,095,000
21,429,000
21,216,000
20,282,000
21,047,000
19,736,000
18,952,000
19,542,000
26,839,000
27,188,000
29,423,000
29,135,000
other short term finances
hp & lease commitments
other current liabilities
9,290,000
17,083,000
10,220,000
9,868,000
9,996,000
9,433,000
9,730,000
9,473,000
9,324,000
9,083,000
9,459,000
12,258,000
14,539,000
14,721,000
16,848,000
total current liabilities
9,688,000
17,097,000
32,728,000
32,052,000
31,509,000
30,808,000
30,152,000
30,804,000
29,191,000
28,169,000
29,134,000
39,730,000
42,701,000
44,284,000
46,388,000
loans
531,000
hp & lease commitments
Accruals and Deferred Income
53,000
119,000
other liabilities
provisions
128,000
16,000
total long term liabilities
128,000
16,000
531,000
53,000
119,000
total liabilities
9,816,000
17,097,000
32,728,000
32,052,000
31,509,000
30,808,000
30,168,000
30,804,000
29,722,000
28,222,000
29,253,000
39,730,000
42,701,000
44,284,000
46,388,000
net assets
32,373,000
32,588,000
9,114,000
8,450,000
7,937,000
7,689,000
7,510,000
7,471,000
7,423,000
6,622,000
6,315,000
947,000
137,000
211,000
777,000
total shareholders funds
32,373,000
32,588,000
9,114,000
8,450,000
7,937,000
7,689,000
7,510,000
7,471,000
7,423,000
6,622,000
6,315,000
947,000
137,000
211,000
777,000
Nov 2023
Nov 2022
Nov 2021
Nov 2020
Nov 2019
Nov 2018
Nov 2017
Nov 2016
Nov 2015
Nov 2014
Nov 2013
Nov 2012
Nov 2011
Nov 2010
Nov 2009
Operating Activities
Operating Profit
425,000
608,000
349,000
426,000
170,000
730,000
600,000
125,000
163,000
805,000
6,034,000
534,000
504,000
289,000
592,000
Depreciation
26,000
24,000
26,000
15,000
21,000
62,000
60,000
78,000
114,000
128,000
204,000
232,000
230,000
230,000
398,000
Amortisation
154,000
323,000
511,000
1,846,000
4,250,000
468,000
Tax
-231,000
-99,000
-40,000
-159,000
11,000
-6,000
-5,000
-537,000
291,000
-308,000
-1,071,000
-2,000
-625,000
-967,000
-637,000
Stock
Debtors
-5,680,000
7,188,000
147,000
1,176,000
5,411,000
-551,000
-2,131,000
3,579,000
11,182,000
-881,000
2,082,000
1,663,000
-14,920,000
-1,921,000
34,948,000
Creditors
48,000
-23,000
-57,000
5,000
-75,000
19,000
-144,000
153,000
-3,000
1,000
-500,000
-341,000
834,000
-265,000
405,000
Accruals and Deferred Income
-7,793,000
6,863,000
352,000
-128,000
563,000
-297,000
257,000
149,000
188,000
-442,000
-2,680,000
-2,281,000
-182,000
-2,127,000
16,848,000
Deferred Taxes & Provisions
128,000
-16,000
16,000
Cash flow from operations
-1,717,000
185,000
483,000
-1,017,000
-4,721,000
1,043,000
2,915,000
-3,611,000
-10,429,000
1,219,000
228,000
-3,010,000
17,527,000
3,331,000
-16,874,000
Investing Activities
capital expenditure
-59,000
-15,000
-10,000
-43,000
83,000
-30,000
-13,000
-209,000
-32,000
-35,000
536,000
-158,000
-624,000
26,000
-8,877,000
Change in Investments
-200,000
200,000
cash flow from investments
-59,000
-15,000
-10,000
-43,000
283,000
-30,000
-13,000
-209,000
-232,000
-35,000
536,000
-158,000
-624,000
26,000
-8,877,000
Financing Activities
Bank loans
Group/Directors Accounts
336,000
-22,471,000
381,000
666,000
213,000
934,000
-765,000
1,311,000
784,000
-590,000
-7,297,000
-349,000
-2,235,000
288,000
29,135,000
Other Short Term Loans
Long term loans
-531,000
531,000
Hire Purchase and Lease Commitments
other long term liabilities
share issue
-1,116,000
23,070,000
385,000
216,000
308,000
13,000
151,000
164,000
135,000
792,000
709,000
478,000
312,000
3,106,000
interest
696,000
-134,000
-38,000
3,000
-266,000
-418,000
-288,000
-224,000
-167,000
-325,000
-387,000
-431,000
-431,000
-200,000
-284,000
cash flow from financing
-84,000
465,000
728,000
885,000
255,000
529,000
-902,000
720,000
1,148,000
-780,000
-6,892,000
-71,000
-2,188,000
400,000
31,957,000
cash and cash equivalents
cash
-1,849,000
664,000
1,209,000
-148,000
-4,158,000
1,402,000
1,581,000
-2,580,000
-8,999,000
404,000
-6,128,000
-3,239,000
14,715,000
3,757,000
4,206,000
overdraft
change in cash
-1,849,000
664,000
1,209,000
-148,000
-4,158,000
1,402,000
1,581,000
-2,580,000
-8,999,000
404,000
-6,128,000
-3,239,000
14,715,000
3,757,000
4,206,000
progress software limited Credit Report and Business Information
Very Low Risk70 - 100
Low Risk50 - 70
Moderate Risk30 - 50
High Risk20 - 30
Very High Risk0 - 20
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progress software limited Ownership
PROGRESS SOFTWARE LIMITED group structure
Progress Software Limited has 1 subsidiary company.
A charge, or mortgage, refers to the rights a company gives to a lender in return for a loan, often in the form of security given over business assets.
We did not find charges/mortgages relating to progress software limited.
progress software limited Capital Raised & Share Issues BETA
When a company issues new shares, e.g. to new investors following a funding round, it is required to notify Companies House within one month of making an allotment of shares.
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progress software limitedCompanies House Filings - See Documents
