COVERAGE / PGR / Financials

PROGRESSIVE CORP/OH/

Fire, Marine & Casualty Insurance

COVERAGE STATUSACTIVE

DATA THROUGH2025-12-31

RESEARCH REPORTS1

SELECTED FILINGS0

Fundamental matrix

Latest / 2025-12-31 · Prior / 2024-12-31 · USD · Annual periods

Revenue

$87.67bn

Prior / $75.37bn

Change / +16.32%

SOURCE / 2026-03-02

Operating income

Not available

Prior / Not available

Change / Unavailable

SOURCE / Not available

Net income

$11.31bn

Prior / $8.48bn

Change / +33.35%

SOURCE / 2026-03-02

Diluted EPS

$19.23

Prior / $14.40

Change / +33.54%

SOURCE / 2026-03-02

Free cash flow

$17.2bn

Prior / $14.83bn

Change / +15.95%

SOURCE / 2026-03-02

Gross margin

Not available

Prior / Not available

Change / Unavailable

SOURCE / Not available

Operating margin

Not available

Prior / Not available

Change / Unavailable

SOURCE / Not available

Return on avg. equity

40.45%

Prior / 36.98%

Change / +3.47 pp

SOURCE / 2026-03-02

Debt / equity

Not available

Prior / Not available

Change / Unavailable

SOURCE / Not available

ROE uses net income divided by average opening/closing equity. FCF = operating cash flow − selected capital expenditure. Debt/equity is unavailable because a verified interest-bearing-debt series is absent; total liabilities are not substituted for debt.

Inspect source tags, dates and accession numbers

{
  "revenue": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 87671000000,
    "accn": "0000080661-26-000086",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-03-02",
    "frame": "CY2025",
    "tag": "us-gaap:Revenues",
    "unit": "USD"
  },
  "netIncome": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 11308000000,
    "accn": "0000080661-26-000086",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-03-02",
    "frame": "CY2025",
    "tag": "us-gaap:NetIncomeLoss",
    "unit": "USD"
  },
  "eps": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 19.23,
    "accn": "0000080661-26-000086",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-03-02",
    "frame": "CY2025",
    "tag": "us-gaap:EarningsPerShareDiluted",
    "unit": "USD/shares"
  },
  "operatingCashFlow": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 17548000000,
    "accn": "0000080661-26-000086",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-03-02",
    "frame": "CY2025",
    "tag": "us-gaap:NetCashProvidedByUsedInOperatingActivities",
    "unit": "USD"
  },
  "capex": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 348000000,
    "accn": "0000080661-26-000086",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-03-02",
    "frame": "CY2025",
    "tag": "us-gaap:PaymentsToAcquirePropertyPlantAndEquipment",
    "unit": "USD"
  },
  "totalAssets": {
    "end": "2025-12-31",
    "val": 123039000000,
    "accn": "0000080661-26-000086",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-03-02",
    "tag": "us-gaap:Assets",
    "unit": "USD"
  },
  "totalLiabilities": {
    "end": "2025-12-31",
    "val": 92716000000,
    "accn": "0000080661-26-000086",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-03-02",
    "tag": "us-gaap:Liabilities",
    "unit": "USD"
  },
  "shareholdersEquity": {
    "end": "2025-12-31",
    "val": 30323000000,
    "accn": "0000080661-26-000086",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-03-02",
    "tag": "us-gaap:StockholdersEquity",
    "unit": "USD"
  }
}

Financial trend system

Annual financial trends are summarized in the accessible table below.

Annual figures / accessible table

Period end	Revenue	Net income	Free cash flow	EPS
2025-12-31	$87.67bn	$11.31bn	$17.2bn	$19.23
2024-12-31	$75.37bn	$8.48bn	$14.83bn	$14.40
2023-12-31	$62.11bn	$3.9bn	$10.39bn	$6.58
2022-12-31	$49.61bn	$0.72bn	$6.56bn	$1.18

Valuation context

Historical snapshot / 2026-09-17. Annual accounting period / 2025-12-31. Not current, TTM or forward valuation.

Dated ratios / eligible same-method sector sample
Measure	Snapshot value	Historical median	Sector median	Peer count
P/E	11.25x	Unavailable	18.76x	10
P/S	1.43x	Unavailable	3.26x	2
P/B	4.15x	Unavailable	5.21x	2
EV / EBITDA	Unavailable	Unavailable	Unavailable	0
FCF yield	13.68%	Unavailable	10.65%	2

Annual denominators, not TTM or forward. Capitalization-based measures use estimated market capitalization from the dated quote snapshot. ADR/share-basis uncertainty is excluded. No comparable historical-multiple series or EV/EBITDA is available. Sector samples are equal-weight medians of this publication’s eligible covered companies; fiscal periods differ. No fair value or price target is implied.

Source: Yahoo Finance completed daily-bar snapshot; not live; market cap estimated using SEC shares at 2026-07-02 DAILY-BAR SOURCE ↗

Retained price snapshot and capitalization estimate

{
  "currentPrice": 216.29,
  "tradingDate": "2026-09-17",
  "marketCap": 125744900133.3,
  "source": "Yahoo Finance completed daily-bar snapshot; not live; market cap estimated using SEC shares at 2026-07-02"
}

Company & operating context

PROGRESSIVE CORP/OH/ is an SEC-reporting issuer listed on NYSE under PGR. Its SEC industry description is Fire, Marine & Casualty Insurance. This profile organizes annual financial disclosures for research; sector labels are editorial groupings, not GICS classifications.

Banks, insurers, exchanges and asset managers earn income through different balance-sheet and fee models. Conventional industrial cash-flow ratios may not be economically comparable.

Segment-level revenue is not included in this standardized dataset. Consult the business and segment notes in the linked annual filing for the issuer’s actual reporting segments.

Filing timeline

No reading guide selected for this issuer. Annual sources remain linked below.

Research archive

HR-0118PGRCompany Research

PGR: reading the FY2025 financial structure ↗

PROGRESSIVE CORP/OH/

Research abstract

Annual revenue of USD 87.671 billion and net income of USD 11.308 billion for the period ended 2025-12-31.

DATA THROUGH2025-12-312 MIN READPUBLISHED 2026-09-26

Sector context & risk factors

Credit losses, deposit pricing, reserve assumptions, market liquidity and regulatory capital.

Net interest income, credit provisions, fee income, underwriting results and capital adequacy.

FINANCIALS SYSTEM ↗

Sources & dates

SEC annual filing · 2025-12-31 ↗Source date 2026-03-02
SEC annual filing · 2024-12-31 ↗Source date 2026-03-02
SEC annual filing · 2023-12-31 ↗Source date 2026-03-02
SEC annual filing · 2022-12-31 ↗Source date 2025-03-03
SEC issuer record ↗Source date 2026-09-18