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Progressive Corp (PGR) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

FINANCIAL SERVICES · Property & Casualty Insurance · DATA UPDATED 2026-07-12

Progressive Corp (PGR) operates in the Property & Casualty Insurance industry and is headquartered in Mayfield, United States with about 70,053 employees. Its market capitalization is roughly $124 billion. In the fiscal year ended 2025-12-31, PGR reported $87.6B in revenue and $11.3B in net income.

The Progressive Corporation operates as an insurance company in the United States. It writes insurance for personal autos and special lines products, including motorcycles, RVs, and watercraft; and personal residential property insurance for homeowners and renters.

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PGR Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$89.4B	$87.6B	$75.3B	$62.1B	$49.6B	$47.7B	$42.6B	$39.0B	$32.0B	$26.8B	$23.4B	$20.8B	$19.4B	$18.2B	$17.1B	$15.8B	$15.2B	$14.6B	$12.8B	$14.7B	$14.8B
Gross Profit	$25.4B	$25.8B	$20.9B	$11.8B	$7.5B	$10.3B	$14.2B	$10.5B	$7.7B	$5.9B	$4.7B	$4.8B	$4.5B	$4.2B	$3.7B	$3.7B	$3.7B	$3.3B	$1.5B	$3.4B	$2.5B
Gross Margin %	28.4%	29.5%	27.7%	18.9%	15.2%	21.7%	33.4%	26.9%	24.0%	21.9%	20.0%	23.2%	23.5%	23.3%	21.6%	23.6%	24.4%	22.6%	11.4%	22.9%	17.2%
Operating Income (EBIT)	$14.6B	$14.2B	$10.7B	$4.9B	$922M	$4.2B	$7.2B	$5.2B	$3.2B	$2.1B	$1.5B	$1.9B	$1.9B	$1.7B	$1.3B	$1.5B	$1.6B	$1.6B	($222M)	$1.7B	$2.4B
Operating Margin %	16.3%	16.2%	14.2%	7.9%	1.9%	8.8%	16.8%	13.2%	9.9%	8.0%	6.3%	9.2%	9.8%	9.5%	7.7%	9.4%	10.3%	10.7%	-1.7%	11.5%	16.5%
Net Income	$11.6B	$11.3B	$8.5B	$3.9B	$722M	$3.4B	$5.7B	$4.0B	$2.6B	$1.6B	$1.0B	$1.3B	$1.3B	$1.2B	$902M	$1.0B	$1.1B	$1.1B	($70M)	$1.2B	$1.6B
Net Margin %	12.9%	12.9%	11.3%	6.3%	1.5%	7.0%	13.4%	10.2%	8.2%	5.9%	4.4%	6.1%	6.6%	6.4%	5.3%	6.4%	7.0%	7.3%	-0.5%	8.1%	11.1%
EBITDA	$15.1B	$14.8B	$11.3B	$5.5B	$1.5B	$4.8B	$7.7B	$5.7B	$3.6B	$2.5B	$1.8B	$2.2B	$2.1B	$1.9B	$1.5B	$1.7B	$1.8B	$1.8B	$48M	$1.9B	$2.6B
Earnings Per Share (EPS)	$19.67	$19.22	$14.43	$6.64	$1.23	$5.71	$9.71	$6.76	$4.46	$2.72	$1.76	$2.15	$2.15	$1.93	$1.48	$1.59	$1.61	$1.59	$-0.10	$1.65	$2.13
Shares Outstanding (M)	587M	588M	588M	588M	587M	587M	588M	587M	587M	586M	585M	589M	595M	604M	608M	637M	663M	667M	674M	718M	774M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

PGR Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$22.2B	$22.7B	$22.5B	$22.0B	$20.4B	$20.3B	$19.7B	$18.1B
Gross Profit	$8.4B	$6.7B	$3.5B	$6.9B	$6.1B	$5.8B	$19.7B	$4.2B
Gross Margin %	37.7%	29.3%	15.8%	31.3%	30.1%	28.8%	100.0%	23.3%
Operating Income (EBIT)	$3.6B	$3.7B	$3.3B	$4.0B	$3.2B	$3.0B	$3.0B	$1.9B
Operating Margin %	16.1%	16.2%	14.8%	18.1%	15.9%	14.6%	15.3%	10.3%
Net Income	$2.8B	$3.0B	$2.6B	$3.2B	$2.6B	$2.4B	$2.3B	$1.5B
Net Margin %	12.7%	13.0%	11.6%	14.4%	12.6%	11.6%	11.8%	8.1%
EBITDA	$3.7B	$3.8B	$3.5B	$4.1B	$3.4B	$3.1B	$3.1B	$2.0B
Earnings Per Share (EPS)	$4.80	$5.02	$4.45	$5.40	$4.37	$4.01	$3.97	$2.48
Shares Outstanding (M)	587M	588M	588M	588M	588M	588M	588M	587M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

PGR Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$16.8B	$17.5B	$15.1B	$10.6B	$6.8B	$7.8B	$6.9B	$6.3B	$6.3B	$3.8B	$2.7B	$2.3B	$1.7B	$1.9B	$1.7B	$1.5B	$1.7B	$1.5B	$1.5B	$1.8B	$2.0B
Capital Expenditures (CapEx)	$352M	$348M	$285M	$252M	$292M	$244M	$224M	$364M	$266M	$156M	$215M	$131M	$108M	$140M	$128M	$79M	$65M	$67M	$98M	$136M	$334M
Free Cash Flow (FCF)	$16.4B	$17.2B	$14.8B	$10.4B	$6.6B	$7.5B	$6.7B	$5.9B	$6.0B	$3.6B	$2.5B	$2.2B	$1.6B	$1.8B	$1.6B	$1.4B	$1.6B	$1.4B	$1.5B	$1.7B	$1.7B
FCF Margin %	18.4%	19.6%	19.7%	16.7%	13.2%	15.8%	15.7%	15.1%	18.8%	13.4%	10.6%	10.4%	8.3%	9.7%	9.2%	9.0%	10.6%	9.8%	11.3%	11.3%	11.4%
Dividends Paid	$8.1B	$2.9B	$682M	$278M	$261M	$3.8B	$1.6B	$1.7B	$668M	$395M	$519M	$404M	$893M	$176M	$854M	$264M	$764M	$79M	$98M	$1.4B	$25M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

PGR Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$4.4B	$3.2B	$5.2B	$4.0B	$5.1B	$3.0B	$4.6B	$3.3B
Capital Expenditures (CapEx)	$63M	$121M	$66M	$102M	$59M	$110M	$57M	$68M
Free Cash Flow (FCF)	$4.3B	$3.0B	$5.1B	$3.9B	$5.1B	$2.9B	$4.6B	$3.2B
FCF Margin %	19.4%	13.4%	22.8%	17.9%	24.9%	14.3%	23.1%	17.6%
Dividends Paid	$8.0B	$59M	$58M	$59M	$2.7B	$59M	$59M	$58M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

PGR Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$124.5B	$123.0B	$105.7B	$88.7B	$75.5B	$71.1B	$64.1B	$54.9B	$46.6B	$38.7B	$33.4B	$29.8B	$25.8B	$24.4B	$22.7B	$21.8B	$21.1B	$20.0B	$18.2B	$18.8B	$19.5B
Cash & Cash Equivalents	$162M	$125M	$143M	$85M	$204M	$187M	$76M	$226M	$70M	$265M	$212M	$224M	$108M	$75M	$179M	$156M	$159M	$161M	$3M	$6M	$6M
Total Liabilities	$90.7B	$92.7B	$80.2B	$68.4B	$59.6B	$52.9B	$47.1B	$41.2B	$35.8B	$29.4B	$25.5B	$22.5B	$18.9B	$18.2B	$16.7B	$16.0B	$15.1B	$14.3B	$14.0B	$13.9B	$12.6B
Total Debt (Short + Long-Term)	$8.4B	$6.9B	$6.9B	$6.9B	$6.4B	$9.8B	$5.9B	$4.9B	$8.8B	$6.6B	$6.3B	$5.4B	$4.3B	$1.9B	$2.2B	$2.9B	$2.0B	$2.2B	$2.2B	$2.2B	$1.2B
Total Shareholders' Equity	$33.8B	$30.3B	$25.6B	$20.3B	$15.9B	$18.2B	$17.0B	$13.7B	$10.8B	$9.3B	$8.0B	$7.3B	$6.9B	$6.2B	$6.0B	$5.8B	$6.0B	$5.7B	$4.2B	$4.9B	$6.8B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive PGR viewer.

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HIG · Hartford (The) — $39 billion
ACGL · Arch Capital Group — $36 billion
CINF · Cincinnati Financial — $28 billion
WRB · W. R. Berkley Corporation — $28 billion

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