PGR Stock Financial Analysis - The Progressive Corporation (NYSE) Stock

Overview

The Progressive Corporation, based in the United States, functions primarily within the insurance industry. Renowned for its innovative approach towards the personal and commercial auto insurance sector, it has aggressively expanded its market scope to include home insurance, thereby demonstrating a strong commitment to diversifying its offerings. The company is well-known for introducing several pioneering initiatives including usage-based insurance and an online insurance purchasing model, significantly enhancing customer engagement and operational transparency. Progressive also actively engages in large-scale marketing campaigns and technology upgrades to bolster customer acquisition and service efficiencies. These strategic initiatives form the backbone of Progressive’s growth strategy in a competitive and rapidly evolving insurance landscape.

Quality, Value, Momentum Scores

This card shows the Quality, Value, and Momentum scores for the company

Quality

The QualityScore is a proprietary scoring model that identifies high quality companies, based on cash generating efficiencies.

Value

Proprietary scoring model that ranks companies based on their relative valuation. Scores range from 0 to 100, with 100 being the most undervalued.

Momentum

Proprietary scoring model that ranks companies on their six-month momentum.

Fund Sentiment

The Fund Sentiment (fka Ownership) score is a proprietary quantitative model that ranks companies based on levels of ownership accumulation.

QVM

The QVM Score is a proprietary scoring model that combines Quality, Value, and Momentum into a single metric that ranks companies from 0 to 100.

Income Statement: Revenue, Operating Income, Net Income

The revenue for The Progressive Corporation as of June 30, 2025 is 82,376.00 MM.
The operating income for The Progressive Corporation as of June 30, 2025 is 13,410.00 MM.
The net income for The Progressive Corporation as of June 30, 2025 is 10,432.00 MM.

Period End (TTM)	Revenue (MM)	Operating Income (MM)	Net Income (MM)
2025-06-30	82,376.00	13,410.00	10,432.00
2025-03-31	78,508.00	11,288.00	8,716.00
2024-12-31	75,343.00	10,992.00	8,480.00
2024-09-30	71,960.30	10,526.70	8,111.80
2024-06-30	67,801.90	8,991.90	6,899.70
2024-03-31	65,022.30	7,564.30	5,786.10
2023-12-31	62,083.00	5,172.00	3,903.00
2023-09-30	58,661.40	3,687.40	2,741.00
2023-06-30	55,882.40	2,413.10	1,743.80
2023-03-31	52,048.30	1,563.60	855.50
2022-12-31	49,587.00	1,391.00	722.00
2022-09-30	48,608.60	1,557.50	857.40
2022-06-30	47,686.80	1,545.10	851.80
2022-03-31	48,072.70	2,948.80	2,184.80
2021-12-31	47,676.50	4,428.60	3,350.90
2021-09-30	46,601.70	5,335.50	4,072.90
2021-06-30	45,691.60	7,122.20	5,485.20
2021-03-31	44,759.60	8,391.80	6,485.50
2020-12-31	42,638.10	7,390.20	5,704.60
2020-09-30	41,962.60	6,614.10	5,091.10

Income Statement: EPS

The earnings per share basic for The Progressive Corporation as of June 30, 2025 is 17.81.
The earnings per share diluted for The Progressive Corporation as of June 30, 2025 is 17.75.

Period End (TTM)	Earnings Per Share Basic	Earnings Per Share Diluted
2025-06-30	17.81	17.75
2025-03-31	14.88	14.83
2024-12-31	14.45	14.40
2024-09-30	13.81	13.76
2024-06-30	11.73	11.68
2024-03-31	9.81	9.77
2023-12-31	6.61	6.58
2023-09-30	4.63	4.60
2023-06-30	2.93	2.91
2023-03-31	1.42	1.41
2022-12-31	1.19	1.18
2022-09-30	1.42	1.42
2022-06-30	1.41	1.40
2022-03-31	3.69	3.67
2021-12-31	5.69	5.66
2021-09-30	6.92	6.88
2021-06-30	9.33	9.29
2021-03-31	11.04	10.99
2020-12-31	9.71	9.66
2020-09-30	8.66	8.63

Cash Flow: Operations, Investing, Financing

The cash from operating activities for The Progressive Corporation as of June 30, 2025 is 16,800.00 MM.
The cash from investing activities for The Progressive Corporation as of June 30, 2025 is -13,743.00 MM.
The cash from financing activities for The Progressive Corporation as of June 30, 2025 is -3,024.00 MM.

Period End (TTM)	Cash From Operating Activities (MM)	Cash From Investing Activities (MM)	Cash From Financing Activities (MM)
2025-06-30	16,800.00	-13,743.00	-3,024.00
2025-03-31	16,027.00	-12,966.00	-3,022.00
2024-12-31	15,119.00	-13,749.00	-1,316.00
2024-09-30	14,549.50	-13,153.50	-1,387.20
2024-06-30	13,358.50	-12,084.80	-1,351.30
2024-03-31	12,428.50	-11,688.80	-860.40
2023-12-31	10,643.00	-10,842.00	78.00
2023-09-30	9,135.60	-9,491.40	128.90
2023-06-30	7,743.40	-7,920.80	116.40
2023-03-31	6,796.00	-6,430.90	-363.80
2022-12-31	6,849.00	-7,956.00	1,126.00
2022-09-30	6,371.30	-6,505.80	214.30
2022-06-30	6,715.20	-6,280.90	-308.40
2022-03-31	7,649.50	-7,147.20	-338.20
2021-12-31	7,761.70	-3,119.80	-4,516.30
2021-09-30	8,856.90	-5,041.30	-3,621.20
2021-06-30	7,965.40	-4,865.10	-3,094.80
2021-03-31	7,894.30	-4,839.00	-3,302.50
2020-12-31	6,905.60	-6,117.70	-938.80
2020-09-30	6,486.50	-5,536.80	-904.80

Valuation Metrics : PE, PriceToBook, PriceToTBV

The p/e for The Progressive Corporation as of June 30, 2025 is 17.95.
The p/book for The Progressive Corporation as of June 30, 2025 is 5.40.
The p/tbv for The Progressive Corporation as of June 30, 2025 is 5.40.

P/Book: The current closing price divided by the book value per share.

P/TBV: The current price divided by the tangible book value per share.

Period End (TTM)	p/e	P/Book	P/TBV
2025-06-30	17.95	5.40	5.40
2025-03-31		6.39	6.99
2024-12-31		5.17	5.59
2024-09-30	25.42	6.74	7.36
2024-06-30	21.39	5.68	6.26
2024-03-31	30.94	5.95	6.58
2023-12-31	34.00	5.36	6.04
2023-09-30	46.76	4.88	5.51
2023-06-30	90.37	4.58	5.18
2023-03-31	116.01	5.27
2022-12-31		5.14	6.00
2022-09-30		4.35	5.00
2022-06-30		3.99	4.65
2022-03-31	19.90	3.66	4.21
2021-12-31	14.73	3.23	3.73
2021-09-30	9.64	2.83	3.25
2021-06-30
2021-03-31	9.78	3.55	3.98
2020-12-31	11.12	3.72	4.18
2020-09-30	12.46	3.51	3.92

Valuation Metrics : EBitToEv, EBit3YrAvgToEv

The ebit/ev for The Progressive Corporation as of June 30, 2025 is 0.07.
The ebit (3y)/ev for The Progressive Corporation as of June 30, 2025 is 0.04.

Period End (TTM)	EBIT/EV	EBIT (3y)/EV
2025-06-30	0.07	0.04
2025-03-31	0.06	0.04
2024-12-31	0.07	0.04
2024-09-30	0.05	0.03
2024-06-30	0.06	0.03
2024-03-31	0.04	0.03
2023-12-31	0.03	0.03
2023-09-30	0.02	0.04
2023-06-30	0.01	0.04
2023-03-31	0.01	0.04
2022-12-31	0.01	0.05
2022-09-30	0.01	0.06
2022-06-30	0.04	0.07
2022-03-31	0.06	0.08
2021-12-31	0.08	0.09
2021-09-30	0.12	0.10
2021-06-30
2021-03-31	0.12	0.08
2020-12-31	0.10	0.07
2020-09-30	0.09	0.07

Management Effectiveness

The roa for The Progressive Corporation as of June 30, 2025 is 0.09.
The roe for The Progressive Corporation as of June 30, 2025 is 0.37.
The roic for The Progressive Corporation as of June 30, 2025 is 0.24.
The croic for The Progressive Corporation as of June 30, 2025 is 0.00.
The ocroic for The Progressive Corporation as of June 30, 2025 is 0.44.

Period End (TTM)	ROA	ROE	ROIC	CROIC	OCROIC
2025-06-30	0.09	0.37	0.24	0.00	0.44
2025-03-31	0.09	0.39	0.26	0.00	0.46
2024-12-31	0.09	0.40	0.24	0.00	0.43
2024-09-30	0.07	0.33	0.20	-0.00	0.43
2024-06-30	0.07	0.34	0.20	-0.00	0.43
2024-03-31	0.05	0.25	0.14	-0.00	0.39
2023-12-31	0.04	0.19	0.11	-0.01	0.38
2023-09-30	0.02	0.11	0.07	-0.00	0.33
2023-06-30	0.01	0.05	0.08	-0.00	0.33
2023-03-31	0.01	0.04	0.04	0.00	0.29
2022-12-31	0.01	0.05	0.04	0.00	0.30
2022-09-30	0.01	0.05	0.04	0.00	0.30
2022-06-30	0.03	0.12	0.04	0.01	0.30
2022-03-31	0.05	0.19	0.10	0.01	0.35
2021-12-31	0.06	0.24	0.14	0.01	0.37
2021-09-30	0.09	0.30	0.17	0.01	0.32
2021-06-30	0.09	0.33	0.23	0.00	0.33
2021-03-31	0.12	0.44	0.27	-0.01	0.33
2020-12-31	0.10	0.42	0.25	-0.01	0.31
2020-09-30	0.09	0.35	0.22	0.00	0.27

Gross Margins

The gross margin for The Progressive Corporation as of June 30, 2025 is 0.15.
The net margin for The Progressive Corporation as of June 30, 2025 is 0.11.
The operating margin for The Progressive Corporation as of June 30, 2025 is 0.14.

Gross Margin: The Gross Margin is the ratio of revenue left after substracting the Cost of Goods Sold. It is calculated as 1.0 - (Revenue - COGS ) / Revenue.

Net Margin: The Net Margin (aka Profit Margin) is the ratio of revenue left after substracting the Net Income. It is calculated as Net Income / Revenue.

Operating Margin: The Operaing Margin is the ratio of revenue left after substracting the Operating Income. It is calculated as Operating Income / Revenue.

Period End (TTM)	Gross Margin	Net Margin	Operating Margin
2025-06-30	0.15	0.11	0.14
2025-03-31	0.15	0.11	0.15
2024-12-31	0.15	0.11	0.15
2024-09-30	0.12	0.09	0.12
2024-06-30	0.12	0.09	0.12
2024-03-31	0.09	0.06	0.08
2023-12-31	0.07	0.05	0.06
2023-09-30	0.05	0.03	0.04
2023-06-30	0.04	0.03	0.04
2023-03-31	0.03	0.02	0.03
2022-12-31	0.04	0.02	0.03
2022-09-30	0.04	0.02	0.03
2022-06-30	0.07	0.02	0.03
2022-03-31	0.10	0.05	0.06
2021-12-31	0.12	0.07	0.09
2021-09-30	0.16	0.09	0.11
2021-06-30	0.16	0.12	0.16
2021-03-31	0.22	0.14	0.19
2020-12-31		0.13	0.17
2020-09-30	0.19	0.12	0.16

IT:1PGR	€213.55
MX:PGR
GB:0KOC	$248.77
DE:PGV	€213.65