Progressive Corp (PGR)

The Progressive Corporation operates as an insurance company in the United States. It writes insurance for personal autos and special lines products, including motorcycles, RVs, and watercraft; and personal residential property insurance for homeowners and renters. The company also writes auto-related liability and physical damage insurance for comprising dump trucks, log trucks, garbage trucks, tractors, trailers, straight trucks, tow trucks and wreckers, vans, pick-up trucks, and autos; business-related general liability and commercial property insurance for small businesses; and workers' compensation insurance for the transportation industry. In addition, it offers other specialty property-casualty insurance and provides related services; personal property reinsurance products; and involved in investment activities. It sells its products through independent insurance agencies, as well as online and over the phone. The Progressive Corporation was founded in 1937 and is headquartered in Mayfield, Ohio.

Symbol: PGR
Exchange: NYSE
Sector: Financial Services
Industry: Insurance - Property & Casualty
Market cap: $122.23B
52 week range: 189.2 - 248.17

Valuation

Share price: $210.96 (close of 2026-10-01)
P/E (TTM): 10.52x
Price to book: 3.56x
Price to free cash flow: 7.66x
Enterprise value: $128.45B
Book value per share: $59.06

Price performance

Period	Change
1 day	+1.76%
5 days	+4.35%
1 month	-4.34%
3 months	-6.36%
6 months	+9.10%
Year to date	-7.36%
1 year	-14.40%
3 years	+51.44%
5 years	+131.98%
10 years	+569.71%

Members of Congress who disclosed PGR trades

Byron Donalds · Julie Johnson · David Taylor · Gilbert Ray Cisneros · Lisa McClain · Val Hoyle · Alan Armstrong · Jefferson Shreve · Josh Gottheimer · Sheldon Whitehouse · Sheri Biggs

Super investors holding PGR

Francois Rochon (Giverny Capital Inc) · David Rolfe (Wedgewood Partners Inc) · Bruce Berkowitz (Fairholme Capital)

Profitability and growth

Return on equity: 37.29%
Return on assets: 9.19%
Net margin: 12.90%
EBITDA margin: 16.58%
Revenue growth: 16.32%
Net income growth: 33.35%
Free cash flow growth: 15.95%

Cash flow and balance sheet

Free cash flow yield (TTM): 13.05%
Net debt to EBITDA: 0.42x

Latest reported year

Period end: 2025-12-31
Fiscal year: 2025
Revenue: $87.67B
EBITDA: $14.54B
Net income: $11.31B
Earnings per share: $19.29
Shares outstanding: 586.30M

Income statement by year

Period end	Revenue	Net income	EPS
2025-12-31	$87.67B	$11.31B	$19.29
2024-12-31	$75.37B	$8.48B	$14.45
2023-12-31	$62.11B	$3.90B	$6.61
2022-12-31	$49.61B	$722.00M	$1.19
2021-12-31	$47.70B	$3.35B	$5.69
2020-12-31	$42.66B	$5.70B	$9.71
2019-12-31	$39.02B	$3.97B	$6.75
2018-12-31	$31.98B	$2.62B	$4.45
2017-12-31	$26.84B	$1.59B	$2.74
2016-12-31	$23.44B	$1.03B	$1.77

Margins and returns by year

Period end	Net margin	Return on equity
2025-12-31	12.90%	37.29%
2024-12-31	11.25%	33.14%
2023-12-31	6.28%	19.25%
2022-12-31	1.46%	4.54%
2021-12-31	7.02%	18.38%
2020-12-31	13.37%	33.48%
2019-12-31	10.17%	29.04%
2018-12-31	8.18%	24.17%
2017-12-31	5.93%	17.15%
2016-12-31	4.40%	12.96%

Cash and debt by year

Period end	Cash
2025-12-31	$10.14B
2024-12-31	$769.00M
2023-12-31	$1.89B
2022-12-31	$3.08B
2021-12-31	$1.14B
2020-12-31	$5.29B
2019-12-31	$2.03B
2018-12-31	$1.87B
2017-12-31	$3.14B
2016-12-31	$3.80B

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	$17.20B	$132.00M
2024-12-31	$14.83B	$122.00M
2023-12-31	$10.39B	$121.00M
2022-12-31	$6.56B	-
2021-12-31	$7.52B	-
2020-12-31	$6.68B	-
2019-12-31	$5.90B	-
2018-12-31	$6.02B	-
2017-12-31	$3.60B	-
2016-12-31	$2.52B	-