Progressive PGR
$227.77 −$5.41 (-2.32%)
Market closed · Nov 6, 8:10 pm ET · Last extended-hours $227.77 0.00%
Open$228.68
Prev close$233.18
Day range$225.78 – $231.09
Volume2.73M
Market cap$131.96B
P/E (TTM)11.5
Dividend yield6.10%
Fundamentals
Latest reported quarter: Q3, ended Sep 2026
Revenue$23.18B+3.0% YoY
Net profit$2.54B-2.8% YoY
Diluted EPS$4.36-2.0% YoY
Free cash flow$3.47B-11.9% YoY
Operating cash flow$3.61B
Revenue, last 8 quarters
Net profit, last 8 quarters
Diluted EPS by quarter
Free cash flow by quarter
Annual revenue
Profitability & balance sheet
Net margin12.7%
Return on equity33.2%
Return on assets9.3%
Liabilities / assets73.0%
Total debt$8.39B
Where the revenue comes from
Quarter 2026/Q2
By business line
Income statement
| Line item | 2026 Q3 | 2026 Q2 | 2026 Q1 | 2025 ANNUAL | 2025 Q4 |
|---|---|---|---|---|---|
| Total Revenue as Reported | $23.19B | $23.61B | $22.19B | $87.67B | $22.75B |
| Total Operating Revenue | $23.18B | $23.60B | $22.18B | $87.64B | $22.74B |
| Total Premiums Earned | $21.87B | $21.57B | $20.97B | $81.66B | $21.09B |
| -Net Premiums Written | $22.30B | $21.08B | $23.64B | $83.17B | $19.51B |
| -Increase Decrease in Net Unearned Premium Reserves | -$432.00M | $496.00M | -$2.67B | -$1.51B | $1.59B |
| Fee Revenue and Other Income | $458.00M | $453.00M | $423.00M | $1.70B | $422.00M |
| -Fees and Commissions | $458.00M | $453.00M | $423.00M | $1.70B | $422.00M |
| Net Investment Income | $1.03B | $969.00M | $909.00M | -$35.00M | -$2.62B |
| Net Realized Gain/Loss on Investments | -$170.00M | $604.00M | -$120.00M | $4.31B | $3.84B |
| Total Expenses | $19.95B | $19.39B | $18.61B | $73.41B | $19.06B |
| Loss Adjustment Expense | $14.90B | $14.57B | $13.83B | $55.18B | $14.38B |
| Policy Acquisition Expense | $1.61B | $1.57B | $1.54B | $6.10B | $1.57B |
| Fees & Commission Expense | $152.00M | $154.00M | $131.00M | $528.00M | $128.00M |
| Underwriting Expenses | $3.20B | $3.01B | $3.05B | $11.33B | $2.91B |
| Net Non-Operating Interest Income (Expense) | -$87.00M | -$88.00M | -$70.00M | -$278.00M | -$69.00M |
| -Interest Expense Non-Operating | $87.00M | $88.00M | $70.00M | $278.00M | $69.00M |
| Pretax Profit | $3.24B | $4.21B | $3.57B | $14.22B | $3.68B |
| Tax | $694.00M | $898.00M | $748.00M | $2.92B | $731.00M |
| Net Profit | $2.54B | $3.31B | $2.82B | $11.31B | $2.95B |
| Profit from Continuing Operations | $2.54B | $3.31B | $2.82B | $11.31B | $2.95B |
| Net Income to Parent Company | $2.54B | $3.31B | $2.82B | $11.31B | $2.95B |
| Net Income to Common Stockholders | $2.54B | $3.31B | $2.82B | $11.31B | $2.95B |
| Basic EPS | $4.38 | $5.68 | $4.81 | $19.29 | $5.04 |
| Diluted EPS | $4.36 | $5.67 | $4.80 | $19.23 | $5.02 |
| Dividend Per Share | $0.10 | $0.10 | $0.10 | $13.90 | $13.60 |
| -Other Income Expense | – | – | $126.00M | $504.00M | $122.00M |
Balance sheet
| Line item | 2026 Q3 | 2026 Q2 | 2026 Q1 | 2025 ANNUAL | 2025 Q4 |
|---|---|---|---|---|---|
| Total Assets | $127.74B | $124.93B | $122.21B | $123.04B | $123.04B |
| Total Investments | $99.20B | $97.22B | $94.13B | $97.37B | $97.37B |
| -Short Term Investments | $94.37B | $13.37B | $12.93B | $19.71B | $19.71B |
| -Equity Investments | $4.83B | $83.85B | $81.20B | $77.66B | $77.66B |
| Receivables | $21.21B | $21.03B | $21.62B | $19.45B | $19.45B |
| -Accounts Receivable | $21.21B | $21.03B | $21.62B | $19.45B | $19.45B |
| Deferred Policy Acquisition Costs | $2.30B | $2.21B | $2.13B | $2.04B | $2.04B |
| Other Assets | $5.04B | $1.74B | $1.73B | $1.64B | $1.64B |
| Total Liabilities | $93.26B | $90.59B | $90.17B | $92.72B | $92.72B |
| Policy Holders Liabilities | $74.66B | $72.97B | $72.27B | $68.53B | $68.53B |
| Long Term Debt and Capital Lease Obligation | $8.39B | $7.39B | $8.39B | $6.90B | $6.90B |
| -Long Term Debt | $8.39B | $7.39B | $8.39B | $6.90B | $6.90B |
| Other Liabilities | $10.21B | $9.18B | $9.46B | $9.32B | $9.32B |
| Total Equity | $34.49B | $34.33B | $32.04B | $30.32B | $30.32B |
| Stockholders' Equity | $34.49B | $34.33B | $32.04B | $30.32B | $30.32B |
| Cash and Cash Equivalents | – | $178.00M | $162.00M | $125.00M | $125.00M |
| Restricted Cash and Cash Equivalents | – | $15.00M | $17.00M | $13.00M | $13.00M |
| Accrued Investment Income | – | $728.00M | $685.00M | $670.00M | $670.00M |
| Net PPE | – | $922.00M | $792.00M | $783.00M | $783.00M |
| Prepaid Assets | – | $202.00M | $198.00M | $197.00M | $197.00M |
| Short-Term Debt and Capital Lease Obligation | – | $1.00B | – | – | – |
| -Current Debt | – | $1.00B | – | – | – |
| Payables | – | $58.00M | $58.00M | $7.97B | $7.97B |
| -Dividends Payable | – | $58.00M | $58.00M | $7.97B | $7.97B |
| Capital Stock | – | $581.00M | $584.00M | $586.00M | $586.00M |
| -Common Stock | – | $581.00M | $584.00M | $586.00M | $586.00M |
| Additional Paid-In Capital | – | $2.34B | $2.31B | $2.31B | $2.31B |
| Retained Earnings | – | $32.26B | $29.61B | $27.33B | $27.33B |
| Gains/Losses Not Affecting Retained Earnings | – | -$847.00M | -$471.00M | $103.00M | $103.00M |
| -Preferred Stock | – | – | – | $0.00 | $0.00 |
Cash flow
| Line item | 2026 Q2 | 2026 Q1 | 2025 ANNUAL | 2025 Q2 | 2025 Q1 |
|---|---|---|---|---|---|
| Operating Cash Flow | $3.61B | $4.37B | $17.55B | $4.04B | $5.14B |
| Net cash flow from continuing operations | $3.61B | $4.37B | $17.55B | $4.04B | $5.14B |
| Net Income from Continuing Operations | $3.31B | $2.82B | $11.31B | $3.18B | $2.57B |
| Gain/Loss from Continuing Operations | -$605.00M | $123.00M | -$711.00M | -$389.00M | $215.00M |
| Change in Working Capital | $815.00M | $1.38B | $6.63B | $1.18B | $2.30B |
| -Change in Receivables | $592.00M | -$2.17B | -$311.00M | $657.00M | -$2.13B |
| -Change in Prepaid Assets | -$4.00M | -$1.00M | $152.00M | $43.00M | $43.00M |
| -Change in Loss and Loss Adjustment Expense Reserves | $1.19B | $1.07B | $4.25B | $1.33B | $765.00M |
| -Change in Deferred Acquisition Costs | -$80.00M | -$87.00M | -$83.00M | -$42.00M | -$107.00M |
| -Change in Payables and Accrued Expense | $216.00M | -$788.00M | $1.56B | $216.00M | $334.00M |
| -Change in Unearned Premiums | -$492.00M | $2.67B | $1.36B | -$277.00M | $2.75B |
| -Change in Other Working Capital | -$607.00M | $689.00M | -$298.00M | -$752.00M | $633.00M |
| Net cash flow from investing | -$2.92B | $2.64B | -$14.53B | -$4.04B | -$2.34B |
| Net Cash Flow from Continuing Investing Activities | -$2.92B | $2.64B | -$14.53B | -$4.04B | -$2.34B |
| Net PPE Purchase and Sale | -$117.00M | -$49.00M | -$268.00M | -$63.00M | -$46.00M |
| Net Investment Purchase and Sale | -$2.93B | $2.44B | -$14.33B | -$3.98B | -$2.47B |
| Net Other Investing Changes | $125.00M | $243.00M | $75.00M | $6.00M | $172.00M |
| Financing Cash Flow | -$672.00M | -$6.96B | -$3.04B | -$72.00M | -$2.75B |
| Net Cash Flow from Continuing Financing Activities | -$672.00M | -$6.96B | -$3.04B | -$72.00M | -$2.75B |
| Net Issuance Payments of Debt | $0.00 | $1.49B | $0.00 | $0.00 | $0.00 |
| Net Common Stock Issuance | -$614.00M | -$478.00M | -$166.00M | -$13.00M | -$54.00M |
| Cash Dividends Paid | -$58.00M | -$7.97B | -$2.87B | -$59.00M | -$2.70B |
| Ending Cash Balance | $193.00M | $179.00M | $138.00M | $135.00M | $207.00M |
| Net Change in Cash | $14.00M | $41.00M | -$16.00M | -$72.00M | $53.00M |
| Beginning Cash Balance | $179.00M | $138.00M | $154.00M | $207.00M | $154.00M |
| Free Cash Flow | $3.47B | $4.30B | $17.20B | $3.94B | $5.08B |
| Net Preferred Stock Issuance | – | – | $0.00 | $0.00 | $0.00 |
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