What is Progressive Corporation's earnings per share (EPS)?

Progressive Corporation (PGR) reported diluted earnings per share of $19.23 for fiscal year 2025. This represents a 33.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Progressive Corporation (PGR) Financials

PGR NYSE

Trailing 12 months to June 30, 2026

Revenue $91.1B +10.5% YoY

Net Income $11.7B +12.1% YoY

EPS (Diluted) $19.94 +12.3% YoY

Free Cash Flow $16.0B -3.2% YoY

Market Cap $132.9B as of Oct 26, 2026

Price / Sales 1.5x on $91.1B revenue, trailing 12 months to June 30, 2026

Price / Earnings 11.4x on $11.7B net income, trailing 12 months to June 30, 2026

Price / Book 3.9x on $34.3B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 26, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 3, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 3, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PGR SEC filings page.

Progressive Corporation (PGR) reported $91.1B in revenue over the twelve months to Jun 30, 2026, up 10.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI PGR FY2025 2026-10-25

Profit and cash generation accelerated together, while the balance sheet expanded with liabilities still about three times equity.

From FY2023 to FY2025, net income rose 189.7% while operating cash flow rose 64.9%, showing earnings expanded faster than cash conversion. Meanwhile, free-cash-flow margin moved from 16.7% to 19.6%, indicating the business still converted a growing share of revenue into cash despite that gap.

FY2025 net profit margin reached 12.9%, after a 1.7-percentage-point increase, indicating recent growth was becoming more profitable rather than merely larger. Return on assets reached 9.2% as assets expanded 16.4%, indicating earnings improved faster than the balance-sheet base.

Capital expenditures were $348M against $17.2B of free cash flow; reinvestment absorbed little internally generated cash, pointing to a relatively asset-light operating requirement. At the same time, liabilities represented 75.4% of assets and 3.1x equity, so the business is financed predominantly through obligations rather than shareholder capital.

Financial Health Signals

Financial Health Score (5 of 6 dimensions) 57/100

Scored as: Insurers peer group

Scored against insurers for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed: here 5 of 6, with the others left out rather than counted as zero. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Progressive Corporation's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Loss Ratio

Loss Ratio measures the claims an insurer paid out against the premiums it earned, so a lower ratio leaves more of every premium dollar with the company. Progressive Corporation scores 35/100 on it among other insurers.

Premium Growth

Progressive Corporation reported revenue of $87.7B in fiscal year 2025, against $75.4B in fiscal year 2024. Premium Growth ranks insurers on the three-year path of the premiums they write rather than on total revenue, and Progressive Corporation scores 77/100 among other insurers.

Capital

Progressive Corporation funded 24.6% of its assets with shareholders' equity at the end of fiscal year 2025, holding $30.3B of equity against $123.0B of assets. Capital ranks insurers on that cushion, and Progressive Corporation scores 50/100 among other insurers.

Investment Yield

n/a

Not available for Progressive Corporation, so it is left out of the overall score, which averages the 5 of 6 dimensions that can be computed.

Combined Ratio

Combined Ratio puts claims and running costs together against premiums earned, and a figure under 100% means the underwriting made money before any investment income was counted. Progressive Corporation scores 74/100 on it among other insurers.

Stability

Progressive Corporation reported net income of $11.3B in fiscal year 2025, against $8.5B in fiscal year 2024. Stability ranks insurers on how steady net income has been across five years, and Progressive Corporation scores 49/100 among other insurers.

Piotroski F-Score Partial

5/6

Progressive Corporation passes 5 of 6 computable financial strength tests (3 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 1 leverage/liquidity signals pass, the one computable operating efficiency signal (asset turnover improving) does not pass.

Key Financial Metrics

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Earnings & Revenue

Revenue

$23.6B

YoY+7.3%

QoQ+6.4%

5Y CAGR+14.7%

10Y CAGR+15.0%

Progressive Corporation generated $23.6B in revenue in Q2 2026. This represents an increase of 7.3% from the same quarter a year earlier. Against the prior quarter it is up 6.4%.

Net Income

$3.3B

YoY+4.3%

QoQ+17.5%

5Y CAGR+33.2%

10Y CAGR+33.0%

Progressive Corporation reported $3.3B in net income in Q2 2026. This represents an increase of 4.3% from the same quarter a year earlier. Against the prior quarter it is up 17.5%.

EPS (Diluted)

$5.67

YoY+5.0%

QoQ+18.1%

5Y CAGR+33.4%

10Y CAGR+32.9%

Progressive Corporation earned $5.67 per diluted share (EPS) in Q2 2026. This represents an increase of 5.0% from the same quarter a year earlier. Against the prior quarter it is up 18.1%.

EBITDA

Not reported for Q2 2026.

Cash & Balance Sheet

Free Cash Flow

$3.5B

YoY-11.9%

QoQ-19.4%

5Y CAGR+8.8%

10Y CAGR+17.4%

Progressive Corporation generated $3.5B in free cash flow in Q2 2026, representing cash available after capex. This represents a decrease of 11.9% from the same quarter a year earlier. Against the prior quarter it is down 19.4%.

Cash & Debt

$193.0M

YoY+43.0%

QoQ+7.8%

5Y CAGR+11.0%

10Y CAGR+3.7%

Progressive Corporation held $193.0M in cash as of Q2 2026; no long-term debt figure is on record for that period.

Dividends Per Share

$0.10

YoY0.0%

QoQ0.0%

5Y CAGR0.0%

Progressive Corporation paid $0.10 per share in dividends in Q2 2026. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

581M

YoY-0.8%

QoQ-0.5%

5Y CAGR-0.1%

10Y CAGR0.0%

Progressive Corporation had 581M shares outstanding in Q2 2026. This represents a decrease of 0.8% from the same quarter a year earlier. Against the prior quarter it is down 0.5%.

Margins & Returns

Net Margin

14.0%

YoY-0.4pp

QoQ+1.3pp

5Y change+7.4pp

10Y change+10.7pp

Progressive Corporation's net profit margin was 14.0% in Q2 2026, showing the share of revenue converted to profit. This is down 0.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.3 percentage points.

Return on Equity

9.6%

YoY-0.1pp

QoQ+0.8pp

5Y change+5.4pp

10Y change+7.2pp

Progressive Corporation's quarterly ROE was 9.6% in Q2 2026: one quarter's net income over shareholder equity, not annualized. This is down 0.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.8 percentage points.

Gross Margin

Not reported for Q2 2026.

Operating Margin

Not reported for Q2 2026.

Capital Allocation

Capital Expenditures

$138.0M

YoY+35.3%

QoQ+119.0%

5Y CAGR+23.5%

10Y CAGR+9.7%

Progressive Corporation invested $138.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 35.3% from the same quarter a year earlier. Against the prior quarter it is up 119.0%.

R&D Spending

Not reported for Q2 2026.

Share Buybacks

Not reported for Q2 2026.

PGR Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

PGR quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$91.1B	$87.7B+16.3%	$75.4B+21.4%	$62.1B+25.2%	$49.6B+4.0%	$47.7B+11.8%	$42.7B+9.3%	$39.0B+22.0%	$32.0B+19.2%	$26.8B+14.5%	$23.4B+12.4%	$20.9B+7.5%	$19.4B+6.7%	$18.2B+6.4%	$17.1B+8.3%	$15.8B
Interest Expense	$297.0M	$278.0M-0.4%	$279.0M+4.1%	$268.0M+9.8%	$244.0M+11.6%	$218.6M+0.7%	$217.0M+14.4%	$189.7M+13.9%	$166.5M+8.8%	$153.1M+8.7%	$140.9M+3.6%	$136.0M+16.3%	$116.9M-1.1%	$118.2M-4.5%	$123.8M-6.7%	$132.7M
Income Tax	$3.1B	$2.9B+30.5%	$2.2B+123.1%	$1.0B+400.5%	$200.0M-76.7%	$859.1M-41.5%	$1.5B+24.4%	$1.2B+117.5%	$542.6M+0.3%	$540.8M+30.8%	$413.5M-32.3%	$611.1M-2.4%	$626.4M+12.9%	$554.6M+33.5%	$415.4M-11.9%	$471.5M
Net Income	$11.7B	$11.3B+33.3%	$8.5B+117.3%	$3.9B+440.6%	$722.0M-78.5%	$3.4B-41.3%	$5.7B+43.7%	$4.0B+51.8%	$2.6B+64.3%	$1.6B+54.4%	$1.0B-18.7%	$1.3B-1.0%	$1.3B+9.9%	$1.2B+29.2%	$902.3M-11.1%	$1.0B
EPS (Basic)	N/A	$19.29+33.5%	$14.45+118.6%	$6.61+455.5%	$1.19-79.1%	$5.69-41.4%	$9.71+43.9%	$6.75+51.7%	$4.45+62.4%	$2.74+54.8%	$1.77-18.1%	$2.16-0.5%	$2.17+11.3%	$1.95+30.0%	$1.50-6.8%	$1.61
EPS (Diluted)	$19.94	$19.23+33.5%	$14.40+118.8%	$6.58+457.6%	$1.18-79.2%	$5.66-41.4%	$9.66+43.8%	$6.72+52.0%	$4.42+62.5%	$2.72+54.5%	$1.76-18.1%	$2.150.0%	$2.15+11.4%	$1.93+30.4%	$1.48-6.9%	$1.59
Diluted Shares (Avg)	N/A	588M+0.1%	588M0.0%	588M+0.1%	587M0.0%	587M-0.1%	588M+0.1%	587M+0.1%	587M+0.2%	586M+0.1%	585M-0.7%	589M-0.9%	595M-1.5%	604M-0.7%	608M-4.6%	637M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$23.6B+7.3%	$22.2B+8.7%	$22.7B+12.2%	$22.5B+14.2%	$22.0B+21.3%	$20.4B+18.4%	$20.3B+20.0%	$19.7B+26.7%
Interest Expense	$88.0M+27.5%	$70.0M0.0%	$69.0M-1.4%	$70.0M0.0%	$69.0M0.0%	$70.0M0.0%	$70.0M+1.0%	$70.0M+0.4%
Income Tax	$898.0M+11.3%	$748.0M+11.8%	$731.0M+19.6%	$708.0M+15.7%	$807.0M+101.2%	$669.0M+9.9%	$611.0M+18.6%	$612.0M+111.8%
Net Income	$3.3B+4.3%	$2.8B+9.8%	$3.0B+25.3%	$2.6B+12.0%	$3.2B+117.6%	$2.6B+10.1%	$2.4B+18.5%	$2.3B+108.2%
EPS (Basic)	$5.68+4.8%	$4.81+9.8%	$5.04+25.4%	$4.46+12.1%	$5.42+117.7%	$4.38+10.9%	$4.02+18.9%	$3.98+109.5%
EPS (Diluted)	$5.67+5.0%	$4.80+9.8%	$5.02+25.2%	$4.45+12.1%	$5.40+117.7%	$4.37+10.9%	$4.01+19.0%	$3.97+110.1%
Diluted Shares (Avg)	584M-0.6%	587M-0.1%	N/A	588M+0.1%	588M+0.1%	588M+0.1%	N/A	588M0.0%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA.

PGR Balance Sheet

PGR quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$123.0B+16.4%	$105.7B+19.2%	$88.7B+17.5%	$75.5B+6.1%	$71.1B+11.0%	$64.1B+16.7%	$54.9B+17.9%	$46.6B+20.3%	$38.7B+15.8%	$33.4B+12.1%	$29.8B+15.6%	$25.8B+5.7%	$24.4B+7.6%	$22.7B+3.9%	$21.8B
Cash & Equivalents	$138.0M-10.4%	$154.0M+54.0%	$100.0M-54.8%	$221.0M+9.4%	$202.0M+164.1%	$76.5M-66.4%	$227.4M+203.2%	$75.0M-72.8%	$275.3M+21.6%	$226.4M+0.9%	$224.4M+107.0%	$108.4M+44.3%	$75.1M-58.1%	$179.1M+15.0%	$155.7M
Short-Term Investments	$10.0B+1526.8%	$615.0M-65.6%	$1.8B-37.4%	$2.9B+203.6%	$942.6M-81.9%	$5.2B+190.1%	$1.8B+0.2%	$1.8B-37.4%	$2.9B-19.7%	$3.6B+64.5%	$2.2B+1.1%	$2.1B+68.9%	$1.3B-36.1%	$2.0B+28.2%	$1.6B
Goodwill	N/A	$228.0M0.0%	$228.0M0.0%	$227.9M-49.7%	$452.7M0.0%	$452.7M0.0%	$452.7M0.0%	$452.7M0.0%	$452.7M+0.7%	$449.4M+0.4%	$447.6M+27875.0%	$1.6M	N/A	N/A	N/A
Total Liabilities	$92.7B+15.7%	$80.2B+17.2%	$68.4B+14.8%	$59.6B+12.6%	$52.9B+12.4%	$47.1B+14.7%	$41.0B+15.4%	$35.5B+22.9%	$28.9B+15.7%	$25.0B+13.2%	$22.1B+17.0%	$18.9B+3.5%	$18.2B+9.2%	$16.7B+4.1%	$16.0B
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$2.7B+25.1%	$2.2B+16.3%	$1.9B-9.8%	$2.1B-15.5%	$2.4B
Total Equity	$30.3B+18.5%	$25.6B+26.2%	$20.3B+27.6%	$15.9B-12.8%	$18.2B+7.0%	$17.0B+24.6%	$13.7B+26.3%	$10.8B+16.6%	$9.3B+16.7%	$8.0B+9.2%	$7.3B+5.2%	$6.9B+11.9%	$6.2B+3.0%	$6.0B+3.4%	$5.8B
Retained Earnings	$27.3B+12.5%	$24.3B+29.2%	$18.8B+19.6%	$15.7B+2.5%	$15.3B+14.9%	$13.4B+25.1%	$10.7B+27.3%	$8.4B+39.0%	$6.0B+17.3%	$5.1B+9.7%	$4.7B+13.4%	$4.1B+18.1%	$3.5B+1.3%	$3.5B-1.2%	$3.5B

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$124.9B+8.2%	$122.2B+9.7%	$123.0B+16.4%	$121.5B+15.5%	$115.5B+18.0%	$111.4B+18.4%	$105.7B+19.2%	$105.2B+22.8%
Cash & Equivalents	$193.0M+43.0%	$179.0M-13.5%	$138.0M-10.4%	$185.0M+25.9%	$135.0M+32.4%	$207.0M+23.2%	$154.0M+54.0%	$147.0M+6.2%
Short-Term Investments	$2.0B-5.9%	$2.1B-18.1%	$10.0B+1526.8%	$1.5B+100.1%	$2.1B+186.9%	$2.6B+95.6%	$615.0M-65.6%	$757.0M-57.8%
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	$228.0M0.0%	N/A
Total Liabilities	$90.6B+9.3%	$90.2B+9.4%	$92.7B+15.7%	$86.1B+10.3%	$82.9B+11.2%	$82.5B+14.0%	$80.2B+17.2%	$78.0B+14.3%
Total Equity	$34.3B+5.3%	$32.0B+10.7%	$30.3B+18.5%	$35.4B+30.5%	$32.6B+39.7%	$29.0B+32.7%	$25.6B+26.2%	$27.2B+56.1%
Retained Earnings	$32.3B+7.8%	$29.6B+10.8%	$27.3B+12.5%	$32.4B+31.7%	$29.9B+33.5%	$26.7B+27.2%	$24.3B+29.2%	$24.6B+41.7%

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Long-Term Investments, Current Liabilities, Non-Current Liabilities, Long-Term Debt.

PGR Cash Flow Statement

PGR quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$16.3B	$17.5B+16.1%	$15.1B+42.1%	$10.6B+55.4%	$6.8B-11.8%	$7.8B+12.4%	$6.9B+10.3%	$6.3B-0.4%	$6.3B+67.3%	$3.8B+37.5%	$2.7B+19.2%	$2.3B+32.9%	$1.7B-9.2%	$1.9B+12.3%	$1.7B+12.9%	$1.5B
Depreciation & Amortization	N/A	$313.0M+10.2%	$284.0M-5.1%	$299.2M-11.2%	$337.0M-0.1%	$337.4M+1.7%	$331.8M+8.4%	$306.1M+16.7%	$262.4M+11.1%	$236.1M+18.3%	$199.5M+32.6%	$150.5M+55.0%	$97.1M-4.1%	$101.3M+7.3%	$94.4M+6.7%	$88.5M
Stock-Based Compensation	N/A	$132.0M+8.2%	$122.0M+0.8%	$121.0M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	$388.0M	$348.0M+22.1%	$285.0M+13.1%	$252.0M-13.7%	$292.0M+19.9%	$243.5M+8.9%	$223.5M-38.5%	$363.5M+36.7%	$266.0M+70.8%	$155.7M-27.6%	$215.0M+64.5%	$130.7M+20.9%	$108.1M-23.0%	$140.4M+9.9%	$127.7M+61.9%	$78.9M
Free Cash Flow	$16.0B	$17.2B+15.9%	$14.8B+42.8%	$10.4B+58.5%	$6.6B-12.8%	$7.5B+12.5%	$6.7B+13.3%	$5.9B-2.0%	$6.0B+67.1%	$3.6B+43.0%	$2.5B+16.4%	$2.2B+33.7%	$1.6B-8.1%	$1.8B+12.5%	$1.6B+10.2%	$1.4B
Investing Cash Flow	-$8.4B	-$14.5Bn/m	-$13.7Bn/m	-$10.8Bn/m	-$8.0Bn/m	-$3.1Bn/m	-$6.1Bn/m	-$4.3Bn/m	-$7.0Bn/m	-$3.4Bn/m	-$2.5Bn/m	-$1.9Bn/m	-$836.9Mn/m	-$1.4Bn/m	-$264.9Mn/m	-$744.9M
Financing Cash Flow	-$7.9B	-$3.0Bn/m	-$1.3B-1787.2%	$78.0M-93.1%	$1.1Bn/m	-$4.5Bn/m	-$938.8Mn/m	-$1.8B-422.1%	$549.8Mn/m	-$300.9Mn/m	-$250.4Mn/m	-$252.8Mn/m	-$855.4Mn/m	-$646.8Mn/m	-$1.4Bn/m	-$755.7M
Dividends Paid	$8.1B	$2.9B+326.0%	$674.0M+188.0%	$234.0M0.0%	$234.0M-93.8%	$3.7B+141.6%	$1.6B-5.6%	$1.6B+150.9%	$654.9M+65.6%	$395.4M-23.8%	$519.0M+28.6%	$403.6M-54.8%	$892.6M+408.3%	$175.6M-79.4%	$853.7M+223.9%	$263.6M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$192.5M-7.7%	$208.5M-23.2%	$271.4M-0.7%	$273.4M+56.9%	$174.2M-82.5%	$997.8M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$3.6B-10.7%	$4.4B-15.1%	$3.2B+5.4%	$5.2B+12.7%	$4.0B+23.7%	$5.1B+21.4%	$3.0B+23.4%	$4.6B+34.8%
Depreciation & Amortization	$82.0M+3.8%	$75.0M+7.1%	$83.0M+9.2%	$81.0M+15.7%	$79.0M+16.2%	$70.0M0.0%	$76.0M+0.3%	$70.0M-5.8%
Capital Expenditures	$138.0M+35.3%	$63.0M+6.8%	$121.0M+10.0%	$66.0M+15.8%	$102.0M+50.0%	$59.0M+18.0%	$110.0M+34.0%	$57.0M+57.0%
Free Cash Flow	$3.5B-11.9%	$4.3B-15.3%	$3.0B+5.2%	$5.1B+12.7%	$3.9B+23.1%	$5.1B+21.5%	$2.9B+23.1%	$4.6B+34.5%
Investing Cash Flow	-$2.9Bn/m	$2.6Bn/m	-$3.1Bn/m	-$5.0Bn/m	-$4.0Bn/m	-$2.3Bn/m	-$2.9Bn/m	-$4.4Bn/m
Financing Cash Flow	-$672.0Mn/m	-$7.0Bn/m	-$118.0Mn/m	-$98.0Mn/m	-$72.0Mn/m	-$2.7Bn/m	-$59.0Mn/m	-$144.0Mn/m
Dividends Paid	$58.0M-1.7%	$8.0B+195.8%	$59.0M0.0%	$58.0M0.0%	$59.0M0.0%	$2.7B+441.2%	$59.0M+0.9%	$58.0M-0.9%

Not reported in any period shown, so not listed: Stock-Based Compensation, Share Buybacks.

PGR Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

PGR quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Net Margin	12.9%+1.7pp	11.3%+5.0pp	6.3%+4.8pp	1.5%-5.6pp	7.0%-6.4pp	13.4%+3.2pp	10.2%+2.0pp	8.2%+2.3pp	5.9%+1.5pp	4.4%-1.7pp	6.1%-0.5pp	6.6%+0.2pp	6.4%+1.1pp	5.3%-1.2pp	6.4%
Return on Equity	37.3%+4.2pp	33.1%+13.9pp	19.3%+14.7pp	4.5%-13.8pp	18.4%-15.1pp	33.5%+4.4pp	29.0%+4.9pp	24.2%+7.0pp	17.2%+4.2pp	13.0%-4.4pp	17.4%-1.1pp	18.5%-0.3pp	18.8%+3.8pp	15.0%-2.5pp	17.5%
Return on Assets	9.2%+1.2pp	8.0%+3.6pp	4.4%+3.4pp	1.0%-3.8pp	4.7%-4.2pp	8.9%+1.7pp	7.2%+1.6pp	5.6%+1.5pp	4.1%+1.0pp	3.1%-1.2pp	4.3%-0.7pp	5.0%+0.2pp	4.8%+0.8pp	4.0%-0.7pp	4.7%
Debt-to-Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0.37+0.1x	0.310.0x	0.300.0x	0.34-0.1x	0.42
Liabilities-to-Equity	3.06-0.1x	3.13-0.2x	3.37-0.4x	3.75+0.8x	2.90+0.1x	2.76-0.2x	3.00-0.3x	3.28+0.2x	3.110.0x	3.14+0.1x	3.03+0.3x	2.72-0.2x	2.94+0.2x	2.780.0x	2.76
Asset Turnover	0.710.0x	0.710.0x	0.700.0x	0.660.0x	0.670.0x	0.670.0x	0.710.0x	0.690.0x	0.690.0x	0.700.0x	0.70-0.1x	0.750.0x	0.740.0x	0.750.0x	0.72
FCF Margin	19.6%-0.1pp	19.7%+2.9pp	16.7%+3.5pp	13.2%-2.5pp	15.8%+0.1pp	15.7%+0.5pp	15.1%-3.7pp	18.8%+5.4pp	13.4%+2.7pp	10.7%+0.4pp	10.4%+2.0pp	8.3%-1.3pp	9.7%+0.5pp	9.2%+0.2pp	9.0%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Net Margin	14.0%-0.4pp	12.7%+0.1pp	13.0%+1.4pp	11.6%-0.2pp	14.4%+6.4pp	12.6%-0.9pp	11.6%-0.2pp	11.8%+4.6pp
Return on Equity	9.6%-0.1pp	8.8%-0.1pp	9.7%+0.5pp	7.4%-1.2pp	9.7%+3.5pp	8.9%-1.8pp	9.2%-0.6pp	8.6%+2.1pp
Return on Assets	2.6%-0.1pp	2.3%0.0pp	2.4%+0.2pp	2.1%-0.1pp	2.8%+1.3pp	2.3%-0.2pp	2.2%0.0pp	2.2%+0.9pp
Liabilities-to-Equity	2.64+0.1x	2.810.0x	3.06-0.1x	2.43-0.4x	2.54-0.7x	2.85-0.5x	3.13-0.2x	2.87-1.1x
Asset Turnover	0.190.0x	0.180.0x	0.180.0x	0.190.0x	0.190.0x	0.180.0x	0.190.0x	0.190.0x
FCF Margin	14.7%-3.2pp	19.4%-5.5pp	13.4%-0.9pp	22.8%-0.3pp	17.9%+0.3pp	24.9%+0.6pp	14.3%+0.4pp	23.1%+1.3pp

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, Debt-to-Equity.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Progressive Corporation PGR	FY2025	$87.7B	$11.3B	12.9%	$132.9B	57/100
Chubb Limited CB	FY2025	$59.4B	$10.3B	17.4%	$137.6B	71/100
The Allstate Corporation ALL	FY2025	$67.7B	$10.3B	15.2%	$64.7B	46/100
The Travelers Companies, Inc. TRV	FY2025	$48.8B	$6.3B	12.9%	$82.0B	55/100
The Hartford Insurance Group, Inc. HIG	FY2025	$28.4B	$3.8B	13.5%	$36.8B	55/100
Cincinnati Financial Corp CINF	FY2025	$12.6B	$2.4B	18.9%	$27.2B	60/100

Where Progressive Corporation Ranks

Frequently Asked Questions

What is Progressive Corporation's annual revenue?

Progressive Corporation (PGR) reported $87.7B in total revenue for fiscal year 2025. This represents a 16.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Progressive Corporation's revenue growing?

Progressive Corporation (PGR) revenue grew by 16.3% year-over-year, from $75.4B to $87.7B in fiscal year 2025.

Is Progressive Corporation profitable?

Yes, Progressive Corporation (PGR) reported a net income of $11.7B over the trailing 12 months to June 30, 2026. In fiscal year 2025 it reported a net income of $11.3B, with a net profit margin of 12.9%.

What is Progressive Corporation's net profit margin?

Progressive Corporation (PGR) had a net profit margin of 12.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Progressive Corporation pay dividends?

Yes, Progressive Corporation (PGR) paid $13.90 per share in dividends during fiscal year 2025.

What is Progressive Corporation's return on equity (ROE)?

Progressive Corporation (PGR) has a return on equity of 37.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Progressive Corporation's free cash flow?

Progressive Corporation (PGR) generated $17.2B in free cash flow during fiscal year 2025. This represents a 15.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Progressive Corporation's operating cash flow?

Progressive Corporation (PGR) generated $17.5B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Progressive Corporation's total assets?

Progressive Corporation (PGR) had $123.0B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Progressive Corporation's capital expenditures?

Progressive Corporation (PGR) invested $348.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Progressive Corporation have outstanding?

Progressive Corporation (PGR) had 586M shares outstanding as of fiscal year 2025.

What is Progressive Corporation's liabilities-to-equity ratio?

Progressive Corporation (PGR) had a liabilities-to-equity ratio of 3.06 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2025, because the filing data we hold for that year carries no long-term debt figure.

What is Progressive Corporation's return on assets (ROA)?

Progressive Corporation (PGR) had a return on assets of 9.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Progressive Corporation's P/E ratio?

Progressive Corporation (PGR) trades at 11.4x earnings, its market capitalization divided by $11.7B net income, trailing 12 months to June 30, 2026. The market capitalization is $132.9B as of Oct 26, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Progressive Corporation's price-to-sales ratio?

Progressive Corporation (PGR) trades at 1.5x sales, its market capitalization divided by $91.1B revenue, trailing 12 months to June 30, 2026. The market capitalization is $132.9B as of Oct 26, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Progressive Corporation's Piotroski F-Score?

Progressive Corporation (PGR) has a Piotroski F-Score of 5 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

How financially healthy is Progressive Corporation?

Progressive Corporation (PGR) scores 57 out of 100 on our Financial Health Score, indicating moderate standing within its insurers peer group. The score is the average of six dimensions (Loss Ratio, Premium Growth, Capital, Investment Yield, Combined Ratio, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. For Progressive Corporation it averages the 5 of 6 dimensions that can be computed; the others are left out rather than counted as zero. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.