PROGRESSIVE CORP/OH/
PGR· NYSE· Fire, Marine & Casualty Insurance
- Market cap
- –
- P/FCF
- –
- EV/Sales
- –
- FCF margin
- 19.6%
- ROIC, 5 yr avg
- –
- Revenue, 5 yr CAGR
- +15.5%
We record prices for the companies we cover; PGR is not one of them yet.
Company statistics
Profile · FY2025
- Market cap
- –
- Enterprise value
- –
- Diluted shares
- 588.1M
- Revenue
- $87.7B
- Free cash flow
- $17.2B
- Owner earnings
- $17.1B
Valuation · FY2025
- P/E
- –
- P/FCF
- –
- P/Owner earnings
- –
- EV/Sales
- –
- EV/FCF
- –
- P/B
- –
Margins · FY2025
- Gross
- –
- Operating
- –
- Net
- 12.9%
- Free cash flow
- 19.6%
- Owner earnings
- 19.5%
- Stock pay
- 0.2%
Returns
- ROIC, FY2025
- –
- ROIC, 5 yr avg
- –
- ROE, FY2025
- 37.3%
- ROE, 5 yr avg
- 22.5%
Growth (CAGR)
- Revenue, 3 yr
- 20.9%
- Revenue, 5 yr
- 15.5%
- Revenue, 9 yr
- 15.8%
- Diluted EPS, 3 yr
- 153.5%
- Diluted EPS, 5 yr
- 14.8%
- Diluted EPS, 9 yr
- 30.4%
- Free cash flow, 3 yr
- 37.9%
- Free cash flow, 5 yr
- 20.8%
- Free cash flow, 9 yr
- 23.8%
Financial health · FY2025
- Cash and investments
- $10.1B
- Total debt
- –
- Net cash
- –
- Debt/Equity
- –
- Debt/FCF
- –
Shareholder returns · FY2025
- Dividend yield
- –
- Payout ratio
- 25.4%
- Buyback yield
- –
- Shareholder yield
- –
- Share count, 5 yr
- 0.0%
Financials: ten years from the 10-Ks
Revenue
$87.7B
+15.8% a year over 9 years
FY2016FY2025
Margins
12.9%
FY2025
FY2016FY2025
Free cash flow and owner earnings
Free cash flow$17.2BOwner earnings$17.1B
Free cash flow +23.8% a year
FY2016FY2025
Diluted shares
588.1M
+0.5% over 9 years, net dilution
FY2016FY2025
Every figure, year by year
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| The business | ||||||||||
| Revenue | $23.4B | $26.8B | $32.0B | $39.0B | $42.7B | $47.7B | $49.6B | $62.1B | $75.4B | $87.7B |
| Revenue growth | 12.4% | 14.5% | 19.2% | 22.0% | 9.3% | 11.8% | 4.0% | 25.2% | 21.4% | 16.3% |
| Gross margin | – | – | – | – | – | – | – | – | – | – |
| Operating margin | – | – | – | – | – | – | – | – | – | – |
| Net income | $1.0B | $1.6B | $2.6B | $4.0B | $5.7B | $3.4B | $722.0M | $3.9B | $8.5B | $11.3B |
| Net margin | 4.4% | 5.9% | 8.2% | 10.2% | 13.4% | 7.0% | 1.5% | 6.3% | 11.3% | 12.9% |
| Diluted EPS | $1.76 | $2.72 | $4.42 | $6.72 | $9.66 | $5.66 | $1.18 | $6.58 | $14.40 | $19.23 |
| Return on invested capital? | – | – | – | – | – | – | – | – | – | – |
| Cash | ||||||||||
| Operating cash flow | $2.7B | $3.8B | $6.3B | $6.3B | $6.9B | $7.8B | $6.8B | $10.6B | $15.1B | $17.5B |
| Capital expenditure | $215.0M | $155.7M | $266.0M | $363.5M | $223.5M | $243.5M | $292.0M | $252.0M | $285.0M | $348.0M |
| Free cash flow | $2.5B | $3.6B | $6.0B | $5.9B | $6.7B | $7.5B | $6.6B | $10.4B | $14.8B | $17.2B |
| Stock-based compensation | – | – | – | – | – | – | – | $121.0M | $122.0M | $132.0M |
| Owner earnings? | – | – | – | – | – | – | – | $10.3B | $14.7B | $17.1B |
| Free cash flow per share | $4.30 | $6.15 | $10.26 | $10.04 | $11.37 | $12.81 | $11.17 | $17.69 | $25.24 | $29.25 |
| Capital allocation | ||||||||||
| Dividends paid | $519.0M | $395.4M | $654.9M | $1.6B | $1.6B | $3.7B | $234.0M | $234.0M | $674.0M | $2.9B |
| Share repurchases | $192.5M | – | – | – | – | – | – | – | – | – |
| Diluted shares | 585.0M | 585.7M | 586.7M | 587.2M | 587.6M | 587.1M | 587.1M | 587.5M | 587.7M | 588.1M |
| Share count change? | -0.7% | 0.1% | 0.2% | 0.1% | 0.1% | -0.1% | 0.0% | 0.1% | 0.0% | 0.1% |
| Balance sheet | ||||||||||
| Cash and equivalents | $226.4M | $275.3M | $75.0M | $227.4M | $76.5M | $202.0M | $221.0M | $100.0M | $154.0M | $138.0M |
| Short-term investments | $3.6B | $2.9B | $1.8B | $1.8B | $5.2B | $942.6M | $2.9B | $1.8B | $615.0M | $10.0B |
| Total debt | – | – | – | – | – | – | – | – | – | – |
| Net debt | – | – | – | – | – | – | – | – | – | – |
| Shareholders' equity | $8.0B | $9.3B | $10.8B | $13.7B | $17.0B | $18.2B | $15.9B | $20.3B | $25.6B | $30.3B |
Latest filings
| 2026-10-14 | 8-K | Earnings release |
| 2026-08-03 | 10-Q | Quarterly report |
| 2026-07-15 | 8-K | Earnings release |
| 2026-05-04 | 10-Q | Quarterly report |
| 2026-04-15 | 8-K | Earnings release |
| 2026-03-23 | DEF 14A | Proxy statement |
| 2026-03-02 | 10-K | Annual report |
| 2026-01-28 | 8-K | Earnings release |
| 2025-11-03 | 10-Q | Quarterly report |
| 2025-10-15 | 8-K | Earnings release |
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