What PROG Does & How It Makes Money (PRG)

Updated October 2026 · reflects PROG's latest reported financials

Fintech holding company offering lease-to-own and buy-now-pay-later payment options. It earns money mainly from lease-to-own agreements at the point of sale, where customers make payments over time until they own the item, and from its buy-now-pay-later installment plans offered through Four.

How PROG makes money

It earns money mainly from lease-to-own agreements at the point of sale, where customers make payments over time until they own the item, and from its buy-now-pay-later installment plans offered through Four.

What PROG does

PROG Holdings, Inc. is a U.S. financial technology holding company that offers payment options to consumers, with a focus on shoppers who may not qualify for traditional financing. It reports two segments. Progressive Leasing provides lease-to-own solutions at the point of sale in stores, in apps, and online. Four offers short-term, interest-free buy-now-pay-later installment plans to consumers of all credit backgrounds. The company also offers Purchasing Power, which gives underserved customers alternatives to traditional financing. Founded in 1955 and based in Draper, Utah, the company was previously called Aaron's Holdings Company, Inc. and took the PROG Holdings name in December 2020.

Products & services

• Progressive Leasing
• Four
• Purchasing Power
• Lease-to-own solutions
• Buy-now-pay-later installment plans

What is PROG worth?

On an owner-earnings DCF, PROG's most-likely value is about $106 versus a recent price near $30 (247% below fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$70) with a margin of safety — so the honest verdict here is “Deeply discounted.” Fair value earns its keep only at the extremes, not in the wide middle.

Related companies

Upbound (UPBD) · Progyny (PGNY) · The Progressive (PGR) · Progress Software (PRGS) · PSQ (PSQH)