HIGHBuilt-inProduct / Revenue mix
96%
Progressive Leasing segment
“10-K Item 1: 'The Progressive Leasing segment comprised approximately 96% of our consolidated revenues for the year ended December 31, 2025.'”
PRG · Concentration risk · 10-K extracted
PROG Holdings (PRG) concentration risks
Updated
The most significant concentration PROG Holdings discloses is Progressive Leasing segment at 96%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: PROG Holdings’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH3
MEDIUM0
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHOutside partyCustomer
77%
top ten POS partners
“10-K Item 1A: '77.0% of our consolidated revenues from customers of Progressive Leasing's top ten POS partners'”
HIGHOutside partyCustomer
54.8%
top three POS partners
“10-K Item 1A: 'we derived 54.8% of our consolidated revenues from customers of Progressive Leasing's top three POS partners'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-06PROG Holdings' concentration risk is unusually stacked: the Progressive Leasing segment comprised approximately 96% of consolidated revenues for the year ended December 31, 2025, meaning the company is, in practical terms, a single-segment business. Within that segment, revenue is itself concentrated among a small group of point-of-sale partners — the top ten POS partners' customers generated 77% of consolidated revenues, and within that group, the top three POS partners' customers alone accounted for 54.8%. All three exposures compound rather than diversify: because Progressive Leasing is nearly the entire company, and because that segment's revenue in turn depends heavily on a handful of retail partners, a disruption to any of the top three POS relationships would flow through to a large share of total company results with little offsetting business elsewhere to cushion the impact. This is a dependency-type risk layered on top of a structural one, and together they represent the most consequential concentration profile among the exposures typically seen in this space: nearly all of the business, funneled through very few partner relationships at the point of sale.
For the engine’s reasoning on PRG’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Rental & Leasing Services
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| PRG● | PROG Holdings, Inc. | 3 | 0 | 0 | 3 |
| CAR | Avis Budget Group, Inc. | 1 | 1 | 0 | 2 |
| GATX | GATX Corporation | 0 | 3 | 1 | 4 |
| CTOS | Custom Truck One Source, Inc. | 0 | 0 | 0 | 0 |
| EQPT | EquipmentShare.com Inc | 0 | 0 | 0 | 0 |
| HRI | Herc Holdings Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.