PGR · Progressive Corp/Oh/ - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $22.19B | - | $22.51B | $22.00B | $20.41B | - | $19.72B | $18.13B | $17.24B | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | - | - | - | - | - | - | - | - | - | - |
| Total Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| D&A | $75.00M | - | - | - | $70.00M | - | - | - | $69.70M | - |
| Operating Income | $3.57B | - | $3.32B | $3.98B | $3.24B | - | $2.94B | $1.86B | $2.94B | - |
| Interest Expense | $70.00M | - | $70.00M | $69.00M | $70.00M | - | $69.90M | $69.60M | $69.60M | - |
| Income Tax | $748.00M | - | $708.00M | $807.00M | $669.00M | - | $611.40M | $401.70M | $608.50M | - |
| Net Income | $2.82B | - | $2.62B | $3.17B | $2.57B | - | $2.33B | $1.46B | $2.33B | - |
| EPS - Basic | $4.81 | - | $4.46 | $5.42 | $4.38 | - | $3.98 | $2.49 | $3.95 | - |
| EPS - Diluted | $4.80 | - | $4.45 | $5.40 | $4.37 | - | $3.97 | $2.48 | $3.94 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $179.00M | $138.00M | $185.00M | $135.00M | $207.00M | $154.00M | $147.00M | $101.70M | $167.90M | $99.60M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Current Assets | - | - | - | - | - | - | - | - | - | - |
| Total Assets | $122.21B | $123.04B | $121.53B | $115.48B | $111.41B | $105.75B | $105.20B | $97.89B | $94.13B | $88.69B |
| Current Liabilities | - | - | - | - | - | - | - | - | - | - |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $90.17B | $92.72B | $86.09B | $82.88B | $82.45B | $80.15B | $78.04B | $74.55B | $72.32B | $68.41B |
| Stockholders' Equity | $32.04B | $30.32B | $35.45B | $32.60B | $28.95B | $25.59B | $27.16B | $23.34B | $21.81B | $20.28B |
| Retained Earnings | $29.61B | $27.33B | $32.44B | $29.92B | $26.73B | $24.28B | $24.63B | $22.41B | $21.02B | $18.80B |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $4.37B | - | - | - | $5.14B | - | - | - | $4.24B | - |
| Investing Cash Flow | $2.64B | - | - | - | ($2.34B) | - | - | - | ($3.12B) | - |
| Financing Cash Flow | ($6.96B) | - | - | - | ($2.75B) | - | - | - | ($1.04B) | - |
| CapEx | $63.00M | - | - | - | $59.00M | - | - | - | $50.20M | - |
| Free Cash Flow | $4.30B | - | - | - | $5.08B | - | - | - | $4.19B | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | 16.1% | - | 14.8% | 18.1% | 15.9% | - | 14.9% | 10.3% | 17.1% | - |
| EBITDA margin | 16.4% | - | - | - | 16.2% | - | - | - | 17.5% | - |
| Net margin | 12.7% | - | 11.6% | 14.4% | 12.6% | - | 11.8% | 8.0% | 13.5% | - |
| Free cash flow margin | 19.4% | - | - | - | 24.9% | - | - | - | 24.3% | - |
| FCF / Net income | 1.53 | - | - | - | 1.98 | - | - | - | 1.80 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | - | - | - | - | - | - | - | - | - | - |
| Effective tax rate | 21.0% | - | 21.3% | 20.3% | 20.7% | - | 20.8% | 21.6% | 20.7% | - |
| Return on assets | 2.3% | - | 2.2% | 2.7% | 2.3% | - | 2.2% | 1.5% | 2.5% | - |
| Return on equity | 8.8% | - | 7.4% | 9.7% | 8.9% | - | 8.6% | 6.2% | 10.7% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | - | - | - | - | - | - | - | - | - | - |
| Quick ratio | - | - | - | - | - | - | - | - | - | - |
| Cash ratio | - | - | - | - | - | - | - | - | - | - |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | 50.9x | - | 47.5x | 57.7x | 46.2x | - | 42.1x | 26.7x | 42.2x | - |
| Equity multiplier | 3.81 | 4.06 | 3.43 | 3.54 | 3.85 | 4.13 | 3.87 | 4.19 | 4.32 | 4.37 |
| Liabilities / Assets | 0.74 | 0.75 | 0.71 | 0.72 | 0.74 | 0.76 | 0.74 | 0.76 | 0.77 | 0.77 |
| Efficiency | ||||||||||
| Asset turnover | 0.18 | - | 0.19 | 0.19 | 0.18 | - | 0.19 | 0.19 | 0.18 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 41.3x | - | 55.5x | 49.4x | 64.8x | - | 63.9x | 83.8x | 52.5x | - |
| P / B | 3.6x | - | 4.1x | 4.8x | 5.7x | - | 5.5x | 5.2x | 5.6x | - |
| P / S | 5.2x | - | 6.5x | 7.1x | 8.1x | - | 7.6x | 6.7x | 7.0x | - |
| EV / EBITDA | 31.9x | - | - | - | 50.2x | - | - | - | 40.3x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 8.7% | - | 14.2% | 21.3% | 18.4% | - | 26.7% | 18.1% | 20.5% | - |
| Revenue CAGR (3y) | 15.8% | - | 20.8% | 24.1% | 19.9% | - | 18.5% | 15.1% | 14.6% | - |
| Revenue CAGR (5y) | 14.2% | - | 15.5% | 14.9% | 17.0% | - | 15.7% | 13.9% | 13.1% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 10.2% | - | 12.8% | 114.0% | 10.1% | - | 108.8% | 327.0% | 430.3% | - |
| Net income growth (YoY) | 9.8% | - | 12.1% | 117.7% | 10.1% | - | 108.1% | 322.3% | 420.5% | - |
| EPS growth (YoY) | 9.8% | - | 12.1% | 117.7% | 10.9% | - | 110.1% | 335.1% | 425.3% | - |
| EPS CAGR (3y) | 85.7% | - | 181.3% | - | 103.3% | - | 175.4% | 22.8% | 16.2% | - |
| EPS CAGR (5y) | 13.8% | - | 11.4% | 12.2% | 30.2% | - | 22.8% | 8.4% | 16.6% | - |
| FCF growth (YoY) | -15.3% | - | - | - | 21.5% | - | - | - | 73.9% | - |
| FCF CAGR (5y) | 10.9% | - | - | - | 26.6% | - | - | - | 18.5% | - |
| Book value growth (YoY) | 10.7% | 18.5% | 30.5% | 39.7% | 32.7% | 26.2% | 56.1% | 39.7% | 29.3% | 27.6% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2023-12-31.
Product / service
$24.64B totalUnderwriting Operations$21.20B · 86.0%
Investments Member$2.24B · 9.1%
Fees And Other Revenues$889.10M · 3.6%
Non Insurance Service Business$310.10M · 1.3%
Peer comparison
Same SIC group: Fire, Marine & Casualty Insurance
Comparing PROGRESSIVE CORP/OH/ against the 5 most active filers in the same SIC group.
Dividends
$13.90/share trailing 12 months · +183.7% YoY
| Ex-date | Per share |
|---|---|
| Apr 2, 2026 | $0.1000 |
| Jan 2, 2026 | $13.6000 |
| Oct 2, 2025 | $0.1000 |
| Jul 3, 2025 | $0.1000 |
| Apr 3, 2025 | $0.1000 |
| Jan 10, 2025 | $4.6000 |
| Oct 3, 2024 | $0.1000 |
| Jul 3, 2024 | $0.1000 |
| Apr 3, 2024 | $0.1000 |
| Jan 18, 2024 | $0.8500 |
| Oct 4, 2023 | $0.1000 |
| Jul 6, 2023 | $0.1000 |
| Apr 5, 2023 | $0.1000 |
| Jan 5, 2023 | $0.1000 |
| Oct 6, 2022 | $0.1000 |
| Jul 6, 2022 | $0.1000 |
| Apr 6, 2022 | $0.1000 |
| Jan 6, 2022 | $0.1000 |
| Dec 17, 2021 | $1.5000 |
| Oct 6, 2021 | $0.1000 |
| Jul 6, 2021 | $0.1000 |
| Apr 6, 2021 | $0.1000 |
| Jan 7, 2021 | $4.6000 |
| Oct 6, 2020 | $0.1000 |