Your Best Stock

Progressive PGR

US equityMarket cap rank #132Insurance - Property & Casualty
$202.01
−$1.12 (-0.55%)
Market open · Sep 24, 2:00 pm ET
After hours $203.13 0.00%
Open$204.23
Prev close$203.13
Day range$200.96 – $204.86
Volume2.00M
Market cap$117.25B
P/E (TTM)10.1
Dividend yield6.88%

Fundamentals

Latest reported quarter: Q2, ended Jun 2026

Revenue$23.60B+7.3% YoY
Net profit$3.31B+4.3% YoY
Diluted EPS$5.67+5.0% YoY
Free cash flow$3.47B-11.9% YoY
Operating cash flow$3.61B

Revenue, last 8 quarters

$19.7BSep '24$20.3BDec '24$20.4BMar '25$22.0BJun '25$22.5BSep '25$22.7BDec '25$22.2BMar '26$23.6BJun '26

Net profit, last 8 quarters

$2.3BSep '24$2.4BDec '24$2.6BMar '25$3.2BJun '25$2.6BSep '25$3.0BDec '25$2.8BMar '26$3.3BJun '26

Diluted EPS by quarter

3.97Sep '244.01Dec '244.37Mar '255.40Jun '254.45Sep '255.02Dec '254.80Mar '265.67Jun '26

Free cash flow by quarter

$4.2BMar '24$3.2BJun '24$4.6BSep '24$2.9BDec '24$5.1BMar '25$3.9BJun '25$4.3BMar '26$3.5BJun '26

Annual revenue

$42.6BFY20$47.7BFY21$49.6BFY22$62.1BFY23$75.3BFY24$87.6BFY25

Profitability & balance sheet

Net margin12.8%
Return on equity34.9%
Return on assets9.7%
Liabilities / assets72.5%
Total debt$8.39B
Free cash flow / sales17.5%

Where the revenue comes from

Quarter 2026/Q2

By business line

  • Personal Lines$19.17B 81.2%
  • Commercial Lines$2.71B 11.5%
  • Investment income$979.00M 4.1%
  • Net holding period gains (losses) on securities$588.00M 2.5%
  • Service revenues$148.00M 0.6%
  • Net realized gains (losses) on security sales$16.00M 0.1%
  • Other$1.00M 0.0%

Income statement

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Total Revenue as Reported $23.61B $22.19B $87.67B $22.75B $22.51B
Total Operating Revenue $23.60B $22.18B $87.64B $22.74B $22.50B
Total Premiums Earned $21.57B $20.97B $81.66B $21.09B $20.85B
-Net Premiums Written $21.08B $23.64B $83.17B $19.51B $21.38B
-Increase Decrease in Net Unearned Premium Reserves $496.00M -$2.67B -$1.51B $1.59B -$535.00M
Fee Revenue and Other Income $453.00M $423.00M $1.70B $422.00M $444.00M
-Fees and Commissions $453.00M $423.00M $1.70B $422.00M $444.00M
Net Investment Income $969.00M $909.00M -$35.00M -$2.62B $914.00M
Net Realized Gain/Loss on Investments $604.00M -$120.00M $4.31B $3.84B $295.00M
Total Expenses $19.39B $18.61B $73.41B $19.06B $19.18B
Loss Adjustment Expense $14.57B $13.83B $55.18B $14.38B $14.40B
Policy Acquisition Expense $1.57B $1.54B $6.10B $1.57B $1.56B
Fees & Commission Expense $154.00M $131.00M $528.00M $128.00M $144.00M
Underwriting Expenses $3.01B $3.05B $11.33B $2.91B $3.02B
Net Non-Operating Interest Income (Expense) -$88.00M -$70.00M -$278.00M -$69.00M -$70.00M
-Interest Expense Non-Operating $88.00M $70.00M $278.00M $69.00M $70.00M
Pretax Profit $4.21B $3.57B $14.22B $3.68B $3.32B
Tax $898.00M $748.00M $2.92B $731.00M $708.00M
Net Profit $3.31B $2.82B $11.31B $2.95B $2.62B
Profit from Continuing Operations $3.31B $2.82B $11.31B $2.95B $2.62B
Net Income to Parent Company $3.31B $2.82B $11.31B $2.95B $2.62B
Net Income to Common Stockholders $3.31B $2.82B $11.31B $2.95B $2.62B
Basic EPS $5.68 $4.81 $19.29 $5.04 $4.46
Diluted EPS $5.67 $4.80 $19.23 $5.02 $4.45
Dividend Per Share $0.10 $0.10 $13.90 $13.60 $0.10
-Other Income Expense – $126.00M $504.00M $122.00M $138.00M

Balance sheet

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Total Assets $124.93B $122.21B $123.04B $123.04B $121.54B
Cash and Cash Equivalents $178.00M $162.00M $125.00M $125.00M $173.00M
Restricted Cash and Cash Equivalents $15.00M $17.00M $13.00M $13.00M $12.00M
Total Investments $97.22B $94.13B $97.37B $97.37B $94.51B
-Short Term Investments $13.37B $12.93B $19.71B $19.71B $10.18B
-Equity Investments $83.85B $81.20B $77.66B $77.66B $84.33B
Receivables $21.03B $21.62B $19.45B $19.45B $20.63B
-Accounts Receivable $21.03B $21.62B $19.45B $19.45B $20.63B
Accrued Investment Income $728.00M $685.00M $670.00M $670.00M $691.00M
Net PPE $922.00M $792.00M $783.00M $783.00M $790.00M
Prepaid Assets $202.00M $198.00M $197.00M $197.00M $215.00M
Deferred Policy Acquisition Costs $2.21B $2.13B $2.04B $2.04B $2.16B
Other Assets $1.74B $1.73B $1.64B $1.64B $1.69B
Total Liabilities $90.59B $90.17B $92.72B $92.72B $86.09B
Policy Holders Liabilities $72.97B $72.27B $68.53B $68.53B $68.93B
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 –
Long Term Debt and Capital Lease Obligation $7.39B $8.39B $6.90B $6.90B $6.90B
-Long Term Debt $7.39B $8.39B $6.90B $6.90B $6.90B
Other Liabilities $9.18B $9.46B $9.32B $9.32B $10.27B
Total Equity $34.33B $32.04B $30.32B $30.32B $35.45B
Stockholders' Equity $34.33B $32.04B $30.32B $30.32B $35.45B
Capital Stock $581.00M $584.00M $586.00M $586.00M $586.00M
-Common Stock $581.00M $584.00M $586.00M $586.00M $586.00M
Additional Paid-In Capital $2.34B $2.31B $2.31B $2.31B $2.23B
Retained Earnings $32.26B $29.61B $27.33B $27.33B $32.44B
Gains/Losses Not Affecting Retained Earnings -$847.00M -$471.00M $103.00M $103.00M $189.00M
-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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