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PGR (The Progressive Corporation) Stock Financials & Earnings | Market Cap Arena
PGR
The Progressive Corporation
Mkt Cap
$122B
Financial Services
·
Insurance - Property & Casualty
·
🇺🇸 United States
·
NYSE
Revenue (TTM)
$79.9B
Net Income (TTM)
$10.2B
EPS (TTM)
$17.27
Free Cash Flow (TTM)
$17.0B
Gross Margin
30.8%
Op. Margin
16.1%
Net Margin
12.7%
FCF Margin
21.3%
P/S Ratio (TTM)
1.5x
P/E Ratio (TTM)
12.0x
YoY Rev Growth
+6.1%
Employees
—
Earnings Reports
▶
Q4 2025
Browse All Reports
Quarterly
FY
Revenue & Profitability
Revenue
Gross Profit
Operating Income
Quarter
Revenue
Gross Profit
Op. Income
Q1 23
$14.3B
$2.6B
$554M
Q2 23
$15.3B
$2.0B
$436M
Q3 23
$15.6B
$3.0B
$1.4B
Q4 23
$16.9B
$4.2B
$2.5B
Q1 24
$17.2B
$5.0B
$2.9B
Q2 24
$18.1B
$4.2B
$1.9B
Q3 24
$19.7B
$5.8B
$2.9B
Q4 24
$20.3B
$5.8B
$3.0B
Q1 25
$20.4B
$6.1B
$3.2B
Q2 25
$22.0B
$6.9B
$4.0B
Q3 25
$22.5B
$3.5B
$3.3B
Q4 25
$15.0B
$8.0B
$2.3B
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Revenue Breakdown
PGR
The Progressive Corporation
Revenue Breakdown
Q4 2025
marketcaparena.com
Valuation
P/S Ratio
P/E Ratio
Quarter
P/S
P/E
Q1 23
2.3x
142.7x
Q2 23
2.2x
70.0x
Q3 23
2.1x
44.5x
Q4 23
2.0x
31.3x
Q1 24
1.9x
21.1x
Q2 24
1.8x
17.7x
Q3 24
1.7x
15.1x
Q4 24
1.6x
14.4x
Q1 25
1.6x
14.0x
Q2 25
1.5x
11.7x
Q3 25
1.4x
11.4x
Q4 25
1.5x
12.0x
marketcaparena.com
Operating Cash Flow
Operating Cash Flow
Free Cash Flow
Quarter
Operating CF
Free CF
Q4 22
$930M
$883M
Q1 23
$2.4B
$2.4B
Q2 23
$2.3B
$2.2B
Q3 23
$3.4B
$3.4B
Q4 23
$2.4B
$2.4B
Q1 24
$4.2B
$4.2B
Q2 24
$3.3B
$3.2B
Q3 24
$4.6B
$4.6B
Q4 24
$3.0B
$2.9B
Q1 25
$5.1B
$5.1B
Q2 25
$4.0B
$3.9B
Q3 25
$5.2B
$5.1B
marketcaparena.com
Capital Expenditures
CapEx
Quarter
CapEx
Q4 22
$47M
Q1 23
$43M
Q2 23
$90M
Q3 23
$36M
Q4 23
$82M
Q1 24
$50M
Q2 24
$68M
Q3 24
$57M
Q4 24
$110M
Q1 25
$59M
Q2 25
$102M
Q3 25
$66M
marketcaparena.com
OpEx vs Revenue Growth (YoY)
Revenue Growth
OpEx Growth
Quarter
Revenue Growth
OpEx Growth
Q1 23
+20.8%
+20.1%
Q2 23
+33.3%
+22.7%
Q3 23
+21.8%
+12.0%
Q4 23
+25.4%
+15.6%
Q1 24
+20.6%
+4.0%
Q2 24
+18.1%
+9.1%
Q3 24
+26.7%
+18.6%
Q4 24
+20.0%
+20.3%
Q1 25
+18.4%
+20.1%
Q2 25
+21.3%
+10.7%
Q3 25
+14.2%
+14.4%
Q4 25
-26.0%
-26.5%
marketcaparena.com
Stock-Based Compensation
SBC ($)
% of Revenue
Quarter
SBC ($)
% of Revenue
Q4 22
$53M
0.4%
Q1 23
$16M
0.1%
Q2 23
$28M
0.2%
Q3 23
$43M
0.3%
Q4 23
$35M
0.2%
Q1 24
$17M
0.1%
Q2 24
$32M
0.2%
Q3 24
$37M
0.2%
Q4 24
$36M
0.2%
Q1 25
$16M
0.1%
Q2 25
$32M
0.1%
Q3 25
$42M
0.2%
marketcaparena.com
OpEx Breakdown
Quarter
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Revenue Segments
Commercial Lines Segment
Personal Lines Segment
Property Segment
Quarter
Commercial Lines Segment
Personal Lines Segment
Property Segment
Q3 23
$2.5B
$11.8B
$632M
Q1 25
$2.7B
$17.0B
—
marketcaparena.com
War Chest
Cash & Equivalents
Short-Term Investments
Quarter
Cash
Short-term Investments
Total
Q1 23
$274M
$52.8B
$53.1B
Q2 23
$164M
$55.6B
$55.7B
Q3 23
$124M
$58.4B
$58.5B
Q4 23
$85M
$62.2B
$62.3B
Q1 24
$155M
$8.4B
$8.6B
Q2 24
$90M
$8.3B
$8.4B
Q3 24
$136M
$8.6B
$8.7B
Q4 24
$143M
$75.9B
$76.1B
Q1 25
$195M
$11.1B
$11.3B
Q2 25
$125M
$10.7B
$10.8B
Q3 25
$173M
$10.2B
$10.4B
Q4 25
$0
$92.8B
$92.8B
marketcaparena.com
Shares Outstanding
Shares Outstanding
Quarter
Shares (Diluted)
QoQ Change
Q1 23
587M
-0.0%
Q2 23
587M
+0.0%
Q3 23
588M
+0.1%
Q4 23
588M
+0.0%
Q1 24
587M
-0.0%
Q2 24
587M
+0.0%
Q3 24
588M
+0.0%
Q4 24
588M
+0.0%
Q1 25
588M
+0.0%
Q2 25
588M
+0.0%
Q3 25
588M
+0.1%
Q4 25
588M
+0.0%
marketcaparena.com
Revenue Per Employee
Revenue / Employee
Year
Revenue/Employee
Employees
FY 14
$731K
27K
FY 15
$729K
29K
FY 16
$738K
32K
FY 17
$797K
34K
FY 18
$856K
37K
FY 19
$938K
42K
FY 20
$984K
43K
FY 21
$973K
49K
FY 22
$900K
55K
FY 23
$1M
61K
FY 24
$1M
66K
FY 25
$1M
66K
marketcaparena.com