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 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $87.67B | $75.37B | $62.11B | $49.61B | $47.70B | $42.66B |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - |
| SG&A | - | - | - | - | - | - |
| Total Operating Expenses | - | - | - | - | - | - |
| D&A | $313.00M | $284.00M | $285.50M | $305.60M | $279.70M | $274.90M |
| Operating Income | $14.22B | $10.71B | $4.90B | $922.10M | $4.21B | $7.17B |
| Interest Expense | $278.00M | $279.00M | $268.40M | $243.50M | $218.60M | $217.00M |
| Income Tax | $2.92B | $2.23B | $1.00B | $200.60M | $859.10M | $1.47B |
| Net Income | $11.31B | $8.48B | $3.90B | $721.50M | $3.35B | $5.70B |
| EPS - Basic | $19.29 | $14.45 | $6.61 | $1.19 | $5.69 | $9.71 |
| EPS - Diluted | $19.23 | $14.40 | $6.58 | $1.18 | $5.66 | $9.66 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $138.00M | $154.00M | $99.60M | $220.90M | $202.10M | $76.50M |
| Accounts Receivable | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - |
| Current Assets | - | - | - | - | - | - |
| Total Assets | $123.04B | $105.75B | $88.69B | $75.47B | $71.13B | $64.10B |
| Current Liabilities | - | - | - | - | - | - |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | $92.72B | $80.15B | $68.41B | $59.57B | $52.90B | $47.06B |
| Stockholders' Equity | $30.32B | $25.59B | $20.28B | $15.89B | $18.23B | $17.04B |
| Retained Earnings | $27.33B | $24.28B | $18.80B | $15.72B | $15.34B | $13.35B |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $17.55B | $15.12B | $10.64B | $6.85B | $7.76B | $6.91B |
| Investing Cash Flow | ($14.53B) | ($13.75B) | ($10.84B) | ($7.96B) | ($3.12B) | ($6.12B) |
| Financing Cash Flow | ($3.04B) | ($1.32B) | $78.00M | $1.13B | ($4.52B) | ($938.80M) |
| CapEx | $348.00M | $285.00M | $252.00M | $292.00M | $243.50M | $223.50M |
| Free Cash Flow | $17.20B | $14.83B | $10.39B | $6.56B | $7.52B | $6.68B |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | 16.2% | 14.2% | 7.9% | 1.9% | 8.8% | 16.8% |
| EBITDA margin | 16.6% | 14.6% | 8.4% | 2.5% | 9.4% | 17.5% |
| Net margin | 12.9% | 11.3% | 6.3% | 1.5% | 7.0% | 13.4% |
| Free cash flow margin | 19.6% | 19.7% | 16.7% | 13.2% | 15.8% | 15.7% |
| FCF / Net income | 1.52 | 1.75 | 2.66 | 9.09 | 2.24 | 1.17 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | - | - | - | - | - | - |
| Effective tax rate | 20.5% | 20.8% | 20.4% | 21.8% | 20.4% | 20.5% |
| Return on assets | 9.2% | 8.0% | 4.4% | 1.0% | 4.7% | 8.9% |
| Return on equity | 37.3% | 33.1% | 19.2% | 4.5% | 18.4% | 33.5% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | - | - | - | - | - | - |
| Quick ratio | - | - | - | - | - | - |
| Cash ratio | - | - | - | - | - | - |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | 51.2x | 38.4x | 18.3x | 3.8x | 19.3x | 33.1x |
| Equity multiplier | 4.06 | 4.13 | 4.37 | 4.75 | 3.90 | 3.76 |
| Liabilities / Assets | 0.75 | 0.76 | 0.77 | 0.79 | 0.74 | 0.73 |
| Efficiency | ||||||
| Asset turnover | 0.71 | 0.71 | 0.70 | 0.66 | 0.67 | 0.67 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 11.8x | 16.6x | 24.2x | 109.9x | 18.1x | 10.2x |
| P / B | 4.4x | 5.5x | 4.6x | 4.8x | 3.3x | 3.4x |
| P / S | 1.5x | 1.9x | 1.5x | 1.5x | 1.3x | 1.4x |
| EV / EBITDA | 9.2x | 12.8x | 18.0x | 61.8x | 13.4x | 7.8x |
| Growth | ||||||
| Revenue growth (YoY) | 16.3% | 21.4% | 25.2% | 4.0% | 11.8% | 9.3% |
| Revenue CAGR (3y) | 20.9% | 16.5% | 13.3% | 8.3% | 14.3% | 16.7% |
| Revenue CAGR (5y) | 15.5% | 14.1% | 14.2% | 13.1% | 15.3% | 15.4% |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | 32.8% | 118.5% | 431.8% | -78.1% | -41.3% | 39.0% |
| Net income growth (YoY) | 33.3% | 117.3% | 440.9% | -78.5% | -41.3% | 43.7% |
| EPS growth (YoY) | 33.5% | 118.8% | 457.6% | -79.2% | -41.4% | 43.8% |
| EPS CAGR (3y) | 153.5% | 36.5% | -12.0% | -44.0% | 8.6% | 52.6% |
| EPS CAGR (5y) | 14.8% | 16.5% | 8.3% | -15.4% | 26.3% | 35.1% |
| FCF growth (YoY) | 15.9% | 42.8% | 58.5% | -12.8% | 12.5% | 13.3% |
| FCF CAGR (5y) | 20.8% | 20.3% | 11.5% | 12.7% | 24.8% | 25.3% |
| Book value growth (YoY) | 18.5% | 26.2% | 27.6% | -12.8% | 7.0% | 24.6% |
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%
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
5/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- -Current ratio improved
- ✓No share dilution
- -Gross margin improved
- ✗Asset turnover improved
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 |