Professional
Added to YB: 2026-09-14
Pitch date: 2026-09-10
PRG [bullish]
PROG Holdings, Inc.
Author Info
Breech Inlet Capital is a boutique investment firm seeking to compound investors’ capital at a high rate through a concentrated portfolio of small-cap companies undergoing transformational change. Visit the website.
Company Info
PROG Holdings, Inc., a financial technology holding company, provides payment options to consumers in the United States.
Market Cap
$1.5B
Pitch Price
N/A
Price Target
95.00
Dividend
1.50%
EV/EBITDA
5.07
P/E
12.11
EV/Sales
0.88
Sector
Consumer Finance
Category
value
PROG Holdings (NYSE: PRG) - Misunderstood transformation with potential upcoming catalysts
PRG: PROG Holdings has transformed from a Progressive Leasing pure play into three growing businesses, with each at a positive inflection and 2026 EBITDA guidance raised twice. Yet it trades at 6.9x estimated 2026 free cash flow, a 14% yield. The status-quo case implies a ~$95 share value by 2029 and ~30% three-year IRR, rising to ~$144 and ~50% if Four is spun off; key risks are weak Progressive profit growth and a persistently low multiple.
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