Progress Software Corporation (PRGS)

Return on equity (ROE)

		Nov 30, 2023	Nov 30, 2022	Nov 30, 2021	Nov 30, 2020	Nov 30, 2019
Net income	US$ in thousands	70,197	95,069	78,420	79,722	26,400
Total stockholders’ equity	US$ in thousands	459,715	398,504	412,489	346,013	330,282
ROE		15.27%	23.86%	19.01%	23.04%	7.99%

November 30, 2023 calculation

ROE = Net income ÷ Total stockholders’ equity
= $70,197K ÷ $459,715K
= 15.27%

Progress Software Corp.'s return on equity (ROE) has fluctuated over the past five years. In 2019, the ROE was at a relatively low 7.99%, indicating lower profitability in relation to shareholders' equity. However, there was a significant improvement in 2020, with the ROE increasing to 23.04%, indicating higher profitability in that year. The ROE decreased to 19.01% in 2021, reflecting a decline in profitability compared to the previous year. However, there was a slight recovery in 2022, with the ROE climbing to 23.86%. Nonetheless, in 2023, the ROE decreased to 15.27%, indicating a lower level of profitability compared to the previous year. These fluctuations suggest that Progress Software Corp. has experienced varying levels of profitability relative to shareholders' equity over the past five years. Further analysis and consideration of other financial metrics are recommended to fully assess the company's financial performance.