A Business at a Glance
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General Development of Business The Progressive Corporation, an insurance holding company, has insurance and non-insurance subsidiaries and affiliates (references in this Item to subsidiaries includes affiliates as well). Our insurance subsidiaries write personal and commercial auto insurance, personal residential property insurance, and insurance for motorcycles, watercraft, and other recreational vehicles. We also offer business-related general liability and commercial property insurance predominantly for small businesses, workers’ compensation insurance primarily for the transportation industry, and other specialty property-casualty insurance and provide related services. Our non-insurance subsidiaries generally support our insurance and investment operations. We operate throughout the United States. Unless noted, references to “state(s)” throughout this report include the District of Columbia.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 87.7B | 87.7B | 75.4B | 62.1B | 49.6B | 47.7B |
| Net Income | 11.3B | 11.3B | 8.5B | 3.9B | 695M | 3.3B |
| EPS | $19.23 | $19.23 | $14.40 | $6.58 | $1.18 | $5.66 |
| Free Cash Flow | 17.2B | 17.2B | 14.8B | 10.4B | 6.6B | 7.5B |
| ROIC | 30.5% | 40.4% | 33.1% | 19.1% | 4.4% | 18.2% |
| Gross Margin | 16.2% | 16.2% | 14.2% | 7.9% | 1.9% | 8.8% |
| Debt/Equity | 0.23 | 0.23 | 0.27 | 0.34 | 0.40 | 0.27 |
| Dividends/Share | $4.88 | $13.90 | $4.90 | $1.15 | $0.40 | $1.90 |
| Operating Income | 14.2B | 14.2B | 10.7B | 4.9B | 922M | 4.2B |
| Operating Margin | 16.2% | 16.2% | 14.2% | 7.9% | 1.9% | 8.8% |
| ROE | 37.3% | 40.4% | 33.1% | 19.1% | 4.4% | 18.2% |
| Shares Outstanding | 588M | 588M | 588M | 587M | 589M | 587M |
PROGRESSIVE CORP/OH/ passes 6 of 9 quality checks, suggesting mixed fundamentals.
PROGRESSIVE CORP/OH/ trades at 10.4x trailing earnings, compared to its 15-year median P/E of 15.3x, suggesting it is currently Cheap relative to its historical range. On a free-cash-flow basis, the stock trades at 6.8x vs a median of 7.3x. The company's 5-year average ROIC is 23.0% with a gross margin of 9.8%. Total shareholder yield (dividends) is 2.5%. At current prices, the estimated annualized return to fair value is +16.6%.
PROGRESSIVE CORP/OH/ (PGR) has a current P/E ratio of 10.4, compared to its historical median P/E of 15.3. The stock is currently considered Cheap based on its historical valuation range.
PROGRESSIVE CORP/OH/ (PGR) has a 5-year average return on invested capital (ROIC) of 23.0%. This indicates strong capital allocation and a potential competitive advantage.
PROGRESSIVE CORP/OH/ (PGR) has a market capitalization of $117.4B. It is classified as a large-cap stock.
Yes, PROGRESSIVE CORP/OH/ (PGR) pays a dividend with a trailing twelve-month yield of 2.45%. The company also returns capital through share buybacks, with a buyback yield of 0.08%.
Based on historical P/E analysis, PROGRESSIVE CORP/OH/ (PGR) appears cheap. The current P/E of 10.4 is 32% below its historical median of 15.3. The estimated fair value CAGR (P/E method) is 10.6%.
PROGRESSIVE CORP/OH/ (PGR) operates in the Fire, Marine & Casualty Insurance industry, within the Financials sector.
PROGRESSIVE CORP/OH/ (PGR) reported annual revenue of $87.7 billion in its most recent fiscal year, based on SEC EDGAR filings.
PROGRESSIVE CORP/OH/ (PGR) has a net profit margin of 12.9%. This is a healthy margin.
PROGRESSIVE CORP/OH/ (PGR) generated $17.2 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
PROGRESSIVE CORP/OH/ (PGR) has a debt-to-equity ratio of 0.23. This indicates a conservatively financed balance sheet.
PROGRESSIVE CORP/OH/ (PGR) reported earnings per share (EPS) of $19.23 in its most recent fiscal year.
PROGRESSIVE CORP/OH/ (PGR) has a return on equity (ROE) of 40.4%. This indicates the company generates strong returns for shareholders.
PROGRESSIVE CORP/OH/ (PGR) has a 5-year average gross margin of 9.8%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 19 years of financial data for PROGRESSIVE CORP/OH/ (PGR), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
PROGRESSIVE CORP/OH/ (PGR) has a book value per share of $51.57, based on its most recent annual SEC filing.
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