Loading…
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.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $87.6B | - | $11.3B | $17.2B | 37.3% | 16.3% | 33.3% |
| 2024 | $75.3B | - | $8.5B | $14.8B | 33.1% | 21.4% | 117.3% |
| 2023 | $62.1B | - | $3.9B | $10.4B | 19.7% | 25.2% | 440.6% |
| 2022 | $49.6B | - | $722M | $6.6B | 4.7% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 49,587 | 62,083 | 75,343 | 87,637 |
| EBIT | - | 1,166 | 5,172 | 10,992 | 14,501 |
| Pretax Income | - | 922 | 4,904 | 10,713 | 14,223 |
| Tax Provision | - | 200 | 1,001 | 2,233 | 2,915 |
| Net Income | - | 722 | 3,903 | 8,480 | 11,308 |
| Net Income Common Stockholders | - | 695 | 3,865 | 8,463 | 11,308 |
| Total Expenses | - | 48,665 | 57,179 | 64,630 | 73,414 |
| Interest Expense | - | 244 | 268 | 279 | 278 |
| Normalized Income | - | 897.50 | 3,903 | 8,480 | 11,308 |
| Market Cap | 117,400 | 117,400 | 117,400 | 117,400 | 117,400 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| The Progressive Corporationthis co. | PGR | $117.8B | 10.38↓ discount | 3.87 | 37.3% | - |
| S&P Global Inc. | SPGI | $133.1B | 29.19 | 4.19 | 14.4% | 18.50 |
| Chubb Limited | CB | $130.9B | 12.29 | 1.72 | 14.0% | - |
| Capital One Financial Corporation | COF | $116.5B | 49.48 | 1.07 | 2.2% | - |
| CME Group Inc. | CME | $103.8B |
| - |
| - |
| - |
| - |
| - |
| - |
| 25.40 |
| 3.60 |
| 14.2% |
| 17.55 |
| The Bank of New York Mellon Corporation | BK | $99.6B | 16.58 | 2.33 | 14.1% | - |
| KKR & Co. Inc. | KKR | $96.2B | 39.78 | 3.33 | 8.4% | 12.97 |
| Blackstone Inc. | BX | $94.9B | 49.25 | 17.16 | 34.8% | - |
| U.S. Bancorp | USB | $91.0B | 11.42 | 1.48 | 13.0% | - |
| Peer Median | - | 27.29 | 2.83 | 14.0% | 17.55 | |