8-K Announcements
6Apr 15, 2026·SEC
Mar 26, 2026·SEC
Mar 18, 2026·SEC
The Progressive Corporation (PGR) fundamental analysis — strengths, weaknesses & financial health based on data analysis
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The Progressive Corporation (PGR) stock price & volume — 10-year historical chart
The Progressive Corporation (PGR) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
The Progressive Corporation (PGR) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 15, 2026 | $4.96vs $4.85+2.3% | $23.6Bvs $23.0B+2.9% |
| Q1 2026 | Jan 28, 2026 | $4.67vs $4.44+5.2% | $19.5Bvs $20.3B-3.9% |
| Q4 2025 | Oct 15, 2025 | $4.05vs $4.99-18.8% | $21.4Bvs $21.8B-1.9% |
| Q3 2025 | Jul 16, 2025 | $4.88vs $4.43+10.2% | $20.1Bvs $20.5B-1.9% |
The Progressive Corporation (PGR) competitors in Personal auto and homeowners insurers — business model, growth, and fundamentals comparison
The Progressive Corporation (PGR) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
The Progressive Corporation (PGR) annual income statement — 10-year revenue, gross profit & net income history
| Metric | Dec'16 | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Revenue | 23.42B | 26.82B | 31.95B | 39B | 42.64B | 47.68B | 49.59B | 62.08B | 75.34B | 85.18B |
Revenue Growth % | 12.41% | 14.51% | 19.16% | 22.04% | 9.33% | 11.82% | 4.01% | 25.2% | 21.36% | 18.37% |
Medical Costs & Claims | 18.74B | 20.93B | 24.29B | 28.49B | 28.39B | 37.34B | 42.04B | 50.32B | 54.44B | 62.78B |
Medical Cost Ratio % | 80.04% | 78.06% | 76.03% | 73.07% | 66.6% | 78.32% | 84.78% | 81.05% | 72.26% | 73.7% |
Gross Profit | 4.67B▲ 0% | 5.88B▲ 25.9% | 7.66B▲ 30.2% | 10.5B▲ 37.1% | 14.24B▲ 35.6% | 10.34B▼ 27.4% | 7.55B▼ 27.0% | 11.76B▲ 55.9% | 20.9B▲ 77.7% | 22.4B▲ 0% |
Gross Margin % | 19.96% | 21.94% | 23.97% | 26.93% | 33.4% | 21.68% | 15.22% | 18.95% | 27.74% | 26.3% |
Gross Profit Growth % | -3.39% | 25.87% | 30.2% | 37.13% | 35.6% | -27.43% | -26.98% | 55.86% | 77.68% | - |
Operating Expenses | 3.2B | 3.74B | 4.5B | 5.34B | 7.07B | 6.13B | 6.63B | 6.86B | 10.19B | 8.89B |
OpEx / Revenue % | 13.68% | 13.96% | 14.07% | 13.7% | 16.58% | 12.85% | 13.36% | 11.05% | 13.52% | 10.44% |
Depreciation & Amortization | 199.5M | 236.1M | 262.4M | 306.1M | 331.8M | 337.4M | 306M | 285M | 284M | 305.8M |
Combined Ratio % | 93.72% | 92.02% | 90.1% | 86.77% | 83.18% | 91.17% | 98.14% | 92.1% | 85.78% | 84.14% |
Operating Income | 1.47B▲ 0% | 2.14B▲ 45.4% | 3.16B▲ 47.9% | 5.16B▲ 63.1% | 7.17B▲ 39.0% | 4.21B▼ 41.3% | 922M▼ 78.1% | 4.9B▲ 431.9% | 10.71B▲ 118.5% | 13.51B▲ 0% |
Operating Margin % | 6.28% | 7.98% | 9.9% | 13.23% | 16.82% | 8.83% | 1.86% | 7.9% | 14.22% | 15.86% |
Operating Income Growth % | -23.06% | 45.43% | 47.91% | 63.11% | 39.01% | -41.31% | -78.1% | 431.89% | 118.45% | - |
EBITDA | 1.67B | 2.38B | 3.43B | 5.47B | 7.5B | 4.55B | 1.23B | 5.19B | 11B | 13.81B |
EBITDA Margin % | 7.13% | 8.86% | 10.72% | 14.02% | 17.6% | 9.54% | 2.48% | 8.36% | 14.6% | 16.22% |
Interest Expense | 140.9M | 153.1M | 166.5M | 189.7M | 217M | 218.6M | 244M | 268M | 279M | 278.9M |
Non-Operating Income | -140.9M | -153.1M | -166.5M | -189.7M | -217M | -218.6M | -244M | -268M | -279M | -278.9M |
Pretax Income | 1.47B▲ 0% | 2.14B▲ 45.4% | 3.16B▲ 47.9% | 5.16B▲ 63.1% | 7.17B▲ 39.0% | 4.21B▼ 41.3% | 922M▼ 78.1% | 4.9B▲ 431.9% | 10.71B▲ 118.5% | 13.51B▲ 0% |
Pretax Margin % | 6.28% | 7.98% | 9.9% | 13.23% | 16.82% | 8.83% | 1.86% | 7.9% | 14.22% | 15.86% |
Income Tax | 413.5M | 540.8M | 542.6M | 1.18B | 1.47B | 859.1M | 200M | 1B | 2.23B | 2.8B |
Effective Tax Rate % | 28.12% | 25.28% | 17.15% | 22.87% | 20.47% | 20.41% | 21.69% | 20.41% | 20.84% | 20.69% |
Net Income | 1.03B▲ 0% | 1.59B▲ 54.4% | 2.62B▲ 64.3% | 3.97B▲ 51.8% | 5.7B▲ 43.7% | 3.35B▼ 41.3% | 722M▼ 78.5% | 3.9B▲ 440.6% | 8.48B▲ 117.3% | 10.71B▲ 0% |
Net Margin % | 4.4% | 5.94% | 8.18% | 10.18% | 13.38% | 7.03% | 1.46% | 6.29% | 11.26% | 12.58% |
Net Income Growth % | -18.67% | 54.43% | 64.26% | 51.81% | 43.68% | -41.26% | -78.45% | 440.58% | 117.27% | 32.08% |
EPS (Diluted) | 1.76▲ 0% | 2.72▲ 54.5% | 4.46▲ 64.0% | 6.72▲ 50.7% | 9.66▲ 43.8% | 5.66▼ 41.4% | 1.18▼ 79.2% | 6.58▲ 457.6% | 14.40▲ 118.8% | 18.21▲ 0% |
EPS Growth % | -18.14% | 54.55% | 63.97% | 50.67% | 43.75% | -41.41% | -79.15% | 457.63% | 118.84% | 32.49% |
EPS (Basic) | 1.77 | 2.74 | 4.49 | 6.75 | 9.71 | 5.69 | 1.19 | 6.61 | 14.45 | - |
Diluted Shares Outstanding | 585M | 585.7M | 586.7M | 587.2M | 587.6M | 587.1M | 587.1M | 587.5M | 587.7M | 588.2M |
The Progressive Corporation (PGR) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'16 | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Total Assets | 33.43B | 38.7B | 46.58B | 54.91B | 64.1B | 71.13B | 75.47B | 88.69B | 105.75B | 121.53B |
Asset Growth % | 12.1% | 15.78% | 20.35% | 17.9% | 16.73% | 10.97% | 6.09% | 17.53% | 19.23% | 71.08% |
Total Investment Assets | 0 | 0 | 0 | 0 | 0 | 96.33B | 103.06B | 128.17B | 156.2B | 4M |
Long-Term Investments | -19.82B | -23.07B | -29.91B | -34.91B | -42.03B | 51.51B | 53.55B | 66B | 80.25B | 336.38B |
Short-Term Investments | 19.82B | 23.07B | 29.91B | 34.91B | 42.03B | 44.82B | 49.51B | 62.17B | 75.95B | 10.18B |
Total Current Assets | 24.71B | 28.96B | 36.78B | 46.65B | 54.65B | 59.84B | 66.26B | 79.56B | 23.32B | 31.2B |
Cash & Equivalents | 211.5M | 265M | 69.5M | 226.2M | 76.5M | 187.1M | 203.5M | 85M | 143M | 173M |
Receivables | 4.51B | 5.42B | 6.5B | 10.89B | 12.18B | 14.38B | 16.25B | 17.05B | 19.13B | 81.62B |
Other Current Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -72.25B | 0 |
Goodwill & Intangibles | 882.2M | 819.3M | 747.3M | 681M | 624.1M | 570M | 314.2M | 1.92B | 2.19B | 8.53B |
Goodwill | 449.4M | 452.7M | 452.7M | 452.7M | 452.7M | 452.7M | 227.9M | 228M | 228M | 0 |
Intangible Assets | 432.8M | 366.6M | 294.6M | 228.3M | 171.4M | 117.3M | 86.3M | 1.69B | 1.96B | 2.16B |
PP&E (Net) | 1.18B | 1.12B | 1.13B | 1.21B | 1.11B | 1.14B | 1.03B | 881M | 790M | 790M |
Other Assets | 26.48B | 30.87B | 37.78B | 41.28B | 49.74B | -41.93B | -45.69B | -59.66B | -804M | -7.13B |
Total Liabilities | 25.47B | 29.42B | 35.75B | 41.24B | 47.06B | 52.9B | 59.57B | 68.41B | 80.15B | 86.09B |
Total Debt | 3.15B | 3.31B | 4.4B | 4.91B | 5.4B | 4.9B | 6.39B | 6.89B | 6.89B | 6.9B |
Net Debt | 2.94B | 3.04B | 4.34B | 4.68B | 5.32B | 4.71B | 6.18B | 6.8B | 6.75B | 6.72B |
Long-Term Debt | 3.15B | 37.1M | 3.91B | 4.41B | 5.4B | 4.9B | 6.39B | 6.89B | 6.89B | 6.9B |
Short-Term Debt | 0 | 3.27B | 499.1M | 499.4M | 0 | 0 | 0 | 0 | 0 | 0 |
Total Current Liabilities | 2.5B | 6.75B | 5.55B | 5.12B | 4.96B | 6.07B | 5.53B | 0 | 0 | 0 |
Accounts Payable | 2.5B | 3.48B | 5.05B | 4.62B | 4.96B | 6.07B | 5.53B | 0 | 0 | 0 |
Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Deferred Taxes | 1000K | 1000K | 0 | 1000K | 1000K | 1000K | 0 | 0 | 0 | 0 |
Other Liabilities | 19.72B | 22.49B | 26.3B | 31.6B | 36.4B | 41.78B | 47.65B | 61.52B | 73.26B | 79.19B |
Total Equity | 7.96B▲ 0% | 9.28B▲ 16.7% | 10.82B▲ 16.6% | 13.67B▲ 26.3% | 17.04B▲ 24.6% | 18.23B▲ 7.0% | 15.89B▼ 12.8% | 20.28B▲ 27.6% | 25.59B▲ 26.2% | 35.45B▲ 0% |
Equity Growth % | 9.16% | 16.69% | 16.55% | 26.35% | 24.61% | 7% | -12.84% | 27.6% | 26.21% | 129.15% |
Shareholders Equity | 7.96B | 9.28B | 10.82B | 13.67B | 17.04B | 18.23B | 15.89B | 20.28B | 25.59B | 35.45B |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Retained Earnings | 5.14B | 6.03B | 8.39B | 10.68B | 13.35B | 15.34B | 15.72B | 18.8B | 24.28B | 32.44B |
Common Stock | 579.9M | 581.7M | 583.2M | 584.6M | 585.2M | 584.4M | 584.9M | 585M | 586M | 586M |
Accumulated OCI | 933.4M | 1.28B | -120.9M | 341.7M | 931.7M | 40.7M | -2.8B | -1.62B | -1.42B | 189M |
Return on Equity (ROE) | 13.52% | 18.47% | 26.01% | 32.42% | 37.15% | 19% | 4.23% | 21.58% | 36.98% | 30.23% |
Return on Assets (ROA) | 3.26% | 4.41% | 6.13% | 7.82% | 9.59% | 4.96% | 0.98% | 4.76% | 8.72% | 8.82% |
Equity / Assets | 23.8% | 23.99% | 23.24% | 24.9% | 26.58% | 25.63% | 21.06% | 22.86% | 24.2% | 29.16% |
Debt / Equity | 0.40x | 0.36x | 0.41x | 0.36x | 0.32x | 0.27x | 0.40x | 0.34x | 0.27x | 0.19x |
Book Value per Share | 13.60 | 15.85 | 18.45 | 23.29 | 29.00 | 31.05 | 27.07 | 34.51 | 43.54 | 60.26 |
Tangible BV per Share | 12.09 | 14.45 | 17.17 | 22.13 | 27.93 | 30.08 | 26.53 | 31.25 | 39.82 | 56.58 |
The Progressive Corporation (PGR) cash flow — operating, investing & free cash flow history
| Metric | Dec'16 | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operations | 2.7B | 3.76B | 6.28B | 6.26B | 6.91B | 7.76B | 6.85B | 10.64B | 15.12B | 17.39B |
Operating CF Growth % | 17.84% | 39.04% | 67.29% | -0.37% | 10.28% | 12.4% | -11.76% | 55.4% | 42.05% | 81.2% |
Operating CF / Revenue % | 11.54% | 14.01% | 19.67% | 16.06% | 16.2% | 16.28% | 13.81% | 17.14% | 20.07% | 20.41% |
Net Income | 1.06B | 1.6B | 2.62B | 3.98B | 5.7B | 3.35B | 721.5M | 3.9B | 8.48B | 10.71B |
Depreciation & Amortization | 199.5M | 236.1M | 262.4M | 306.1M | 331.8M | 337.4M | 336.6M | 299.7M | 284M | 305.8M |
Stock-Based Compensation | 85.2M | 95.4M | 77.2M | 90.2M | 89.4M | 100.7M | 122.7M | 121.3M | 122M | 126.2M |
Deferred Taxes | 37.2M | 43.8M | -5.7M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Non-Cash Items | -1.6M | 1M | 477.6M | -984.9M | -1.52B | -1.38B | 2.11B | -275.5M | -281M | -487.9M |
Working Capital Changes | 1.32B | 1.78B | 2.85B | 2.87B | 2.3B | 5.36B | 3.56B | 6.6B | 6.51B | 6.73B |
Cash from Investing | -2.46B | -3.41B | -7.33B | -4.34B | -6.12B | -3.12B | -7.96B | -10.84B | -13.75B | -14.37B |
Capital Expenditures | -215M | -155.7M | -266M | -363.5M | -223.5M | -243.5M | -292M | -252M | -285M | -337.2M |
Acquisitions | 6.2M | -18.1M | -296.9M | 53.3M | 21.9M | -313.2M | 35.1M | 0 | 0 | 0 |
Purchase of Investments | -12.04B | -14.84B | -21.69B | -29.15B | -36.38B | -34.02B | -28.54B | -25.86B | -47.95B | -47.88B |
Sale/Maturity of Investments | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 4M |
Other Investing | 59.4M | -18.3M | 21.1M | 6M | 83.6M | 114.1M | -177.8M | 36M | 248M | 137.4M |
Cash from Financing | -250.4M | -300.9M | 549.8M | -1.77B | -938.8M | -4.52B | 1.13B | 78M | -1.32B | -2.98B |
Dividends Paid | -519M | -395.4M | -668.4M | -1.67B | -1.58B | -3.77B | -260.8M | -277.6M | -682M | -2.87B |
Share Repurchases | -192.5M | -62.5M | -79M | -91.3M | -111.6M | -223M | -99M | -140.7M | -634M | -107.2M |
Stock Issued | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 500M | 0 |
Debt Issuance (Net) | 1000K | 1000K | 1000K | 0 | 1000K | -1000K | 1000K | 1000K | 0 | 0 |
Other Financing | 9.2M | 500K | -293.6M | -9.6M | -235.7M | 0 | 0 | 0 | 0 | 0 |
Net Change in Cash | -12.6M▲ 0% | 48.9M▲ 488.1% | -200.3M▼ 509.6% | 152.4M▲ 176.1% | -150.9M▼ 199.0% | 125.6M▲ 183.2% | 18.8M▼ 85.0% | -121.3M▼ 745.2% | 54M▲ 144.5% | 38M▲ 0% |
Exchange Rate Effect | 400K | -300K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 400K |
Cash at Beginning | 224.1M | 226.4M | 275.3M | 75M | 227.4M | 76.5M | 202.1M | 220.9M | 100M | 135M |
Cash at End | 211.5M | 275.3M | 75M | 227.4M | 76.5M | 202.1M | 220.9M | 99.6M | 154M | 185M |
Free Cash Flow | 2.49B▲ 0% | 3.6B▲ 44.8% | 6.02B▲ 67.1% | 5.9B▼ 2.0% | 6.68B▲ 13.3% | 7.52B▲ 12.5% | 6.56B▼ 12.8% | 10.39B▲ 58.5% | 14.83B▲ 42.8% | 17.05B▲ 0% |
FCF Growth % | 15.02% | 44.8% | 67.14% | -2.01% | 13.29% | 12.51% | -12.79% | 58.48% | 42.75% | 19.28% |
FCF Margin % | 10.62% | 13.43% | 18.84% | 15.12% | 15.67% | 15.77% | 13.22% | 16.74% | 19.69% | 20.02% |
FCF per Share | 4.25 | 6.15 | 10.26 | 10.04 | 11.37 | 12.81 | 11.17 | 17.69 | 25.24 | 28.98 |
The Progressive Corporation (PGR) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Combined Ratio | 93.72% | 92.02% | 90.1% | 86.77% | 83.18% | 91.17% | 98.14% | 92.1% | 85.78% | 84.14% |
Medical Cost Ratio | 80.04% | 78.06% | 76.03% | 73.07% | 66.6% | 78.32% | 84.78% | 81.05% | 72.26% | 73.7% |
Return on Equity (ROE) | 13.52% | 18.47% | 26.01% | 32.42% | 37.15% | 19% | 4.23% | 21.58% | 36.98% | 30.23% |
Return on Assets (ROA) | 3.26% | 4.41% | 6.13% | 7.82% | 9.59% | 4.96% | 0.98% | 4.76% | 8.72% | 8.82% |
Equity / Assets | 23.8% | 23.99% | 23.24% | 24.9% | 26.58% | 25.63% | 21.06% | 22.86% | 24.2% | 29.16% |
Book Value / Share | 13.6 | 15.85 | 18.45 | 23.29 | 29 | 31.05 | 27.07 | 34.51 | 43.54 | 60.26 |
Debt / Equity | 0.40x | 0.36x | 0.41x | 0.36x | 0.32x | 0.27x | 0.40x | 0.34x | 0.27x | 0.19x |
Revenue Growth | 12.41% | 14.51% | 19.16% | 22.04% | 9.33% | 11.82% | 4.01% | 25.2% | 21.36% | 18.37% |
The Progressive Corporation (PGR) SEC filings — annual & quarterly reports (10-K, 10-Q)
Apr 15, 2026·SEC
Mar 26, 2026·SEC
Mar 18, 2026·SEC
Mar 2, 2026·SEC
The Progressive Corporation (PGR) stock FAQ — growth, dividends, profitability & financials explained
The Progressive Corporation (PGR) grew revenue by 21.4% over the past year. This is strong growth.
Yes, The Progressive Corporation (PGR) is profitable, generating $10.71B in net income for fiscal year 2024 (11.3% net margin).
Yes, The Progressive Corporation (PGR) pays a dividend with a yield of 0.56%. This makes it attractive for income-focused investors.
The Progressive Corporation (PGR) has a return on equity (ROE) of 37.0%. This is excellent, indicating efficient use of shareholder capital.
The Progressive Corporation (PGR) has a combined ratio of 85.8%. A ratio below 100% indicates underwriting profitability.