Tearsheet

Progressive (PGR)


Market Price (9/13/2025): $248.24 | Market Cap: $145.5 Bil
Sector: Financials | Industry: Property & Casualty Insurance

Progressive (PGR)


Market Price (9/13/2025): $248.24
Market Cap: $145.5 Bil
Sector: Financials
Industry: Property & Casualty Insurance

Investment Highlights

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.7%, FCF Yield is 11%
  
1 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 21%
  
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 20%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 20%, CFO LTM is 17 Bil, FCF LTM is 16 Bil
  
3 Low stock price volatility
Vol 12M is 24%
  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.7%, FCF Yield is 11%
1 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 21%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 20%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 20%, CFO LTM is 17 Bil, FCF LTM is 16 Bil
3 Low stock price volatility
Vol 12M is 24%

Market Valuation

 9/13/252024202320222021
Share Price CYE$248.24$235.00$155.23$126.04$99.39
Market Cap CYE ($ Bil)145.5137.690.873.758.0
Total Debt ($ Bil)6.96.96.96.44.9
Total Cash ($ Bil)0.10.10.10.20.2
Enterprise Value ($ Bil)152.3144.597.780.162.9
Valuation Ratios     
P/S TTM1.81.91.51.51.3
P/EBIT TTM10.812.818.065.013.6
P/E TTM13.916.523.9105.017.9
Sector Ratios     
P/S TTM (Sector)3.23.12.82.83.4
P/EBIT TTM (Sector)7.06.97.17.17.0
P/E TTM (Sector)12.911.610.29.410.0
 9/13/2520242023
Share Price CYE$248.24$235.00$155.23
Market Cap CYE ($ Bil)145.5137.690.8
Total Debt ($ Bil)6.96.96.9
Total Cash ($ Bil)0.10.10.1
Enterprise Value ($ Bil)152.3144.597.7
Valuation Ratios   
P/S TTM1.81.91.5
P/EBIT TTM10.812.818.0
P/E TTM13.916.523.9
Sector Ratios   
P/S TTM (Sector)3.23.12.8
P/EBIT TTM (Sector)7.06.97.1
P/E TTM (Sector)12.911.610.2

Business Description

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property. The Personal Lines segment writes insurance for personal autos and recreational vehicles (RV). Show more

Price Returns Compared

Expand for Detailed View

 202020212022202320242025Total [1]
Returns
PGR Return41%11%27%23%51%6%290%
Peers Return-3%27%18%4%32%10%118%
S&P 500 Return16%27%-19%24%23%12%101%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: CB, TRV, MET, ALL, HIG. See PGR Returns vs. Peers.
[3] 2025 data is for the year up to 9/12/2025 (YTD)

Recent Active Movers

Recent Active Movers

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Peer Comparisons for Progressive

Financials

PGRCBTRVMETALLHIGMedian
NameProgress.Chubb Traveler.MetLife Allstate Hartford. 
Mkt Price248.28278.11278.9380.82200.39132.52224.33
Mkt Cap145.5111.263.054.253.037.658.6
Rev LTM82,37657,66047,84372,07866,21427,25961,937
Op Inc LTM-------
FCF LTM16,47214,0009,63315,2298,5385,69011,816
FCF 3Y Avg12,35013,3418,10113,7936,4174,81610,225
CFO LTM16,80014,0009,63315,2298,7435,82811,816
CFO 3Y Avg12,63413,3418,10113,7936,6715,00310,368

Growth & Margins

PGRCBTRVMETALLHIGMedian
NameProgress.Chubb Traveler.MetLife Allstate Hartford. 
Rev Chg LTM21.5%6.8%8.5%5.9%9.8%7.8%8.2%
Rev Chg 3Y Avg20.0%12.5%10.2%6.0%9.7%8.1%9.9%
Rev Chg Q21.3%6.9%7.4%-1.8%5.7%7.8%7.2%
QoQ Delta Rev Chg LTM4.9%1.7%1.8%-0.4%1.4%1.9%1.7%
Op Mgn LTM-------
Op Mgn 3Y Avg-------
QoQ Delta Op Mgn LTM-------
CFO/Rev LTM20.4%24.3%20.1%21.1%13.2%21.4%20.8%
CFO/Rev 3Y Avg18.0%25.2%18.5%19.7%10.9%19.6%19.0%
FCF/Rev LTM20.0%24.3%20.1%21.1%12.9%20.9%20.5%
FCF/Rev 3Y Avg17.6%25.2%18.5%19.7%10.5%18.9%18.7%

Valuation

PGRCBTRVMETALLHIGMedian
NameProgress.Chubb Traveler.MetLife Allstate Hartford. 
Mkt Cap145.5111.263.054.253.037.658.6
P/S1.81.91.30.80.81.41.3
P/EBIT10.99.19.18.06.98.89.0
P/E14.012.112.012.69.111.612.1
P/CFO8.77.96.53.66.16.56.5
Total Yield9.1%9.6%9.1%10.7%12.9%10.2%9.9%
Dividend Yield2.0%1.3%0.8%2.8%1.9%1.5%1.7%
FCF Yield 3Y Avg10.3%13.5%16.6%28.1%15.5%16.3%15.9%
D/E0.00.10.10.40.20.10.1
Net D/E-0.0-0.2-1.3-1.7-0.0-0.4-0.3

Returns

PGRCBTRVMETALLHIGMedian
NameProgress.Chubb Traveler.MetLife Allstate Hartford. 
1M Rtn-0.4%1.5%4.0%4.5%-3.6%1.6%1.5%
3M Rtn-7.3%-2.7%6.3%5.3%1.2%6.2%3.3%
6M Rtn-12.5%-4.7%7.8%2.0%-2.5%12.4%-0.2%
12M Rtn1.5%-2.0%21.1%10.2%9.8%17.0%10.0%
3Y Rtn101.8%51.1%82.2%33.4%75.7%112.1%78.9%
1M Excs Rtn-2.2%-0.4%2.2%2.7%-5.4%-0.2%-0.3%
3M Excs Rtn-16.4%-12.1%-3.6%-5.8%-8.4%-3.5%-7.1%
6M Excs Rtn-30.4%-21.9%-9.4%-13.7%-19.1%-4.6%-16.4%
12M Excs Rtn-18.2%-22.7%-1.1%-8.4%-9.3%-4.5%-8.9%
3Y Excs Rtn35.6%-14.7%15.8%-31.5%6.6%48.5%11.2%

Financials

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Personal Lines49,50540,74435,37332,62030,210
Commercial Lines10,0489,2166,9454,8764,428
Investment income1,8921,2602,3702,5672,071
Net realized gains (losses) on securities353-1,912   
Service revenues310300271226195
Other138  
Fees and other revenues  692604564
Property  2,0421,7661,555
Total62,10949,61147,70242,65839,022


Price Behavior

Short Interest

Short Interest: As Of Date8292025
Short Interest: Shares Quantity6,223,821
Short Interest: % Change Since 8152025-6.8%
Average Daily Volume2,683,034
Days-to-Cover Short Interest2.32
Basic Shares Quantity586,200,000
Short % of Basic Shares1.1%

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/16/20251.8%2.1%2.9%
4/16/2025-0.4%-4.0%1.8%
1/29/20251.1%1.1%14.4%
10/15/2024-0.1%-0.5%4.2%
7/16/2024-3.3%-0.4%2.4%
4/12/20240.8%3.7%6.7%
1/24/20244.7%5.5%12.5%
10/13/20231.4%-0.1%4.5%
...
SUMMARY STATS   
# Positive111014
# Negative131410
Median Positive1.6%3.9%6.1%
Median Negative-1.6%-2.3%-5.6%
Max Positive4.9%5.5%14.4%
Max Negative-13.1%-10.5%-9.6%

Insider Activity

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 OwnerTitleFiling DateActionPriceSharesTransacted
Value
Value of
Held Shares
Form
0Murphy John JoClaims President8252025Sell250.782,218556,23011,466,617Form
1Callahan Patrick KPersonal Lines President8252025Sell249.966,2321,557,7495,402,009Form
2Broz StevenChief Information Officer8252025Sell250.781,345337,2997,957,950Form
3Niederst Lori ACRM President8152025Sell250.188,0632,017,2019,767,152Form
4Sauerland John PVP and Chief Financial Officer7302025Sell249.2416,6644,153,33556,832,808Form