Progressive (PGR)
Market Price (9/13/2025): $248.24 | Market Cap: $145.5 BilSector: Financials | Industry: Property & Casualty Insurance
Progressive (PGR)
Market Price (9/13/2025): $248.24Market Cap: $145.5 BilSector: FinancialsIndustry: Property & Casualty Insurance
Investment Highlights
Attractive yieldTotal 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% | ||
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 21% | ||
Attractive cash flow generationCFO/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 | ||
Low stock price volatilityVol 12M is 24% |
Attractive yieldTotal 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% |
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 21% |
Attractive cash flow generationCFO/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 |
Low stock price volatilityVol 12M is 24% |
Market Valuation
9/13/25 | 2024 | 2023 | 2022 | 2021 | |
---|---|---|---|---|---|
Share Price CYE | $248.24 | $235.00 | $155.23 | $126.04 | $99.39 |
Market Cap CYE ($ Bil) | 145.5 | 137.6 | 90.8 | 73.7 | 58.0 |
Total Debt ($ Bil) | 6.9 | 6.9 | 6.9 | 6.4 | 4.9 |
Total Cash ($ Bil) | 0.1 | 0.1 | 0.1 | 0.2 | 0.2 |
Enterprise Value ($ Bil) | 152.3 | 144.5 | 97.7 | 80.1 | 62.9 |
Valuation Ratios | |||||
P/S TTM | 1.8 | 1.9 | 1.5 | 1.5 | 1.3 |
P/EBIT TTM | 10.8 | 12.8 | 18.0 | 65.0 | 13.6 |
P/E TTM | 13.9 | 16.5 | 23.9 | 105.0 | 17.9 |
Sector Ratios | |||||
P/S TTM (Sector) | 3.2 | 3.1 | 2.8 | 2.8 | 3.4 |
P/EBIT TTM (Sector) | 7.0 | 6.9 | 7.1 | 7.1 | 7.0 |
P/E TTM (Sector) | 12.9 | 11.6 | 10.2 | 9.4 | 10.0 |
9/13/25 | 2024 | 2023 | |
---|---|---|---|
Share Price CYE | $248.24 | $235.00 | $155.23 |
Market Cap CYE ($ Bil) | 145.5 | 137.6 | 90.8 |
Total Debt ($ Bil) | 6.9 | 6.9 | 6.9 |
Total Cash ($ Bil) | 0.1 | 0.1 | 0.1 |
Enterprise Value ($ Bil) | 152.3 | 144.5 | 97.7 |
Valuation Ratios | |||
P/S TTM | 1.8 | 1.9 | 1.5 |
P/EBIT TTM | 10.8 | 12.8 | 18.0 |
P/E TTM | 13.9 | 16.5 | 23.9 |
Sector Ratios | |||
P/S TTM (Sector) | 3.2 | 3.1 | 2.8 |
P/EBIT TTM (Sector) | 7.0 | 6.9 | 7.1 |
P/E TTM (Sector) | 12.9 | 11.6 | 10.2 |
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).
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Price Returns Compared
Expand for Detailed View2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
---|---|---|---|---|---|---|---|
Returns | |||||||
PGR Return | 41% | 11% | 27% | 23% | 51% | 6% | 290% |
Peers Return | -3% | 27% | 18% | 4% | 32% | 10% | 118% |
S&P 500 Return | 16% | 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)
Latest Trefis Analyses
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for Progressive
Financials
Median | |
---|---|
Name | |
Mkt Price | 224.33 |
Mkt Cap | 58.6 |
Rev LTM | 61,937 |
Op Inc LTM | - |
FCF LTM | 11,816 |
FCF 3Y Avg | 10,225 |
CFO LTM | 11,816 |
CFO 3Y Avg | 10,368 |
Growth & Margins
Median | |
---|---|
Name | |
Rev Chg LTM | 8.2% |
Rev Chg 3Y Avg | 9.9% |
Rev Chg Q | 7.2% |
QoQ Delta Rev Chg LTM | 1.7% |
Op Mgn LTM | - |
Op Mgn 3Y Avg | - |
QoQ Delta Op Mgn LTM | - |
CFO/Rev LTM | 20.8% |
CFO/Rev 3Y Avg | 19.0% |
FCF/Rev LTM | 20.5% |
FCF/Rev 3Y Avg | 18.7% |
Valuation
Median | |
---|---|
Name | |
Mkt Cap | 58.6 |
P/S | 1.3 |
P/EBIT | 9.0 |
P/E | 12.1 |
P/CFO | 6.5 |
Total Yield | 9.9% |
Dividend Yield | 1.7% |
FCF Yield 3Y Avg | 15.9% |
D/E | 0.1 |
Net D/E | -0.3 |
Returns
Median | |
---|---|
Name | |
1M Rtn | 1.5% |
3M Rtn | 3.3% |
6M Rtn | -0.2% |
12M Rtn | 10.0% |
3Y Rtn | 78.9% |
1M Excs Rtn | -0.3% |
3M Excs Rtn | -7.1% |
6M Excs Rtn | -16.4% |
12M Excs Rtn | -8.9% |
3Y Excs Rtn | 11.2% |
Segment Financials
Revenue by Segment
$ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
---|---|---|---|---|---|
Personal Lines | 49,505 | 40,744 | 35,373 | 32,620 | 30,210 |
Commercial Lines | 10,048 | 9,216 | 6,945 | 4,876 | 4,428 |
Investment income | 1,892 | 1,260 | 2,370 | 2,567 | 2,071 |
Net realized gains (losses) on securities | 353 | -1,912 | |||
Service revenues | 310 | 300 | 271 | 226 | 195 |
Other | 1 | 3 | 8 | ||
Fees and other revenues | 692 | 604 | 564 | ||
Property | 2,042 | 1,766 | 1,555 | ||
Total | 62,109 | 49,611 | 47,702 | 42,658 | 39,022 |
Returns Analyses
Earnings Returns History
Expand for MoreForward Returns | |||
---|---|---|---|
Earnings Date | 1D Returns | 5D Returns | 21D Returns |
7/16/2025 | 1.8% | 2.1% | 2.9% |
4/16/2025 | -0.4% | -4.0% | 1.8% |
1/29/2025 | 1.1% | 1.1% | 14.4% |
10/15/2024 | -0.1% | -0.5% | 4.2% |
7/16/2024 | -3.3% | -0.4% | 2.4% |
4/12/2024 | 0.8% | 3.7% | 6.7% |
1/24/2024 | 4.7% | 5.5% | 12.5% |
10/13/2023 | 1.4% | -0.1% | 4.5% |
... | |||
SUMMARY STATS | |||
# Positive | 11 | 10 | 14 |
# Negative | 13 | 14 | 10 |
Median Positive | 1.6% | 3.9% | 6.1% |
Median Negative | -1.6% | -2.3% | -5.6% |
Max Positive | 4.9% | 5.5% | 14.4% |
Max Negative | -13.1% | -10.5% | -9.6% |
SEC Filings
Expand for MoreReport Date | Filing |
---|---|
6302025 | 10-Q 6/30/2025 |
3312025 | 10-Q 3/31/2025 |
12312024 | 10-K 12/31/2024 |
9302024 | 10-Q 9/30/2024 |
6302024 | 10-Q 6/30/2024 |
3312024 | 10-Q 3/31/2024 |
12312023 | 10-K 12/31/2023 |
9302023 | 10-Q 9/30/2023 |
6302023 | 10-Q 6/30/2023 |
3312023 | 10-Q 3/31/2023 |
12312022 | 10-K 12/31/2022 |
9302022 | 10-Q 9/30/2022 |
6302022 | 10-Q 6/30/2022 |
3312022 | 10-Q 3/31/2022 |
12312021 | 10-K 12/31/2021 |
9302021 | 10-Q 9/30/2021 |
Insider Activity
Expand for MoreOwner | Title | Filing Date | Action | Price | Shares | TransactedValue | Value ofHeld Shares | Form | |
---|---|---|---|---|---|---|---|---|---|
0 | Murphy John Jo | Claims President | 8252025 | Sell | 250.78 | 2,218 | 556,230 | 11,466,617 | Form |
1 | Callahan Patrick K | Personal Lines President | 8252025 | Sell | 249.96 | 6,232 | 1,557,749 | 5,402,009 | Form |
2 | Broz Steven | Chief Information Officer | 8252025 | Sell | 250.78 | 1,345 | 337,299 | 7,957,950 | Form |
3 | Niederst Lori A | CRM President | 8152025 | Sell | 250.18 | 8,063 | 2,017,201 | 9,767,152 | Form |
4 | Sauerland John P | VP and Chief Financial Officer | 7302025 | Sell | 249.24 | 16,664 | 4,153,335 | 56,832,808 | Form |
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