Progressive Corporation (The) (PGR) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Progressive Corporation (The)

NYSE•Financial Services•Insurance - Property & Casualty

$214.43-1.78(-0.01%)Market open

Market Cap

$124.43B

P/E

10.4x

P/S

1.4x

P/B

3.6x

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. The company also writes auto-related liability and physical damage insurance for comprising dump trucks, log trucks, garbage trucks, tractors, trailers, straight trucks, tow trucks and wreckers, vans, pick-up trucks, and autos; business-related general liability and commercial property insurance for small businesses; and workers' compensation insurance for the transportation industry. In addition, it offers other specialty property-casualty insurance and provides related services; personal property reinsurance products; and involved in investment activities. It sells its products through independent insurance agencies, as well as online and over the phone. The Progressive Corporation was founded in 1937 and is headquartered in Mayfield, Ohio.

How this company scores

ExcellentMetricSide Score: 84/100

Strongest: Profitability (25/25); weakest: Balance Sheet & Red Flags (16/25).

Profitability25/25

Growth25/25

Balance Sheet & Red Flags16/25

Cash & Earnings Quality18/25

Strengths

Growing revenueStrong marginsHigh ROERising earnings

No red flags in the last 8 quarters.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 10.4x5y range 10.2x – 5088.2x

Currently below its 20-quarter median.

P/S · 1.4x5y range 1.2x – 2.2x

Currently near its 20-quarter median.

P/B · 3.6x5y range 2.8x – 5.7x

Currently near its 20-quarter median.

Price & Volume

Market Cap $124.43B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $90.31B
Q. Revenue: $23.61B
TTM EBITDA: $15.08B
TTM Op. Income: $15.08B
Q. Op. Income: $4.21B
TTM Net Income: $11.92B
Q. Net Income: $3.31B
EPS: $5.68
Shares Out.: $583.00M

$90.31B in TTM revenue grew 19.6% YoY, reaching $23.61B last quarter. TTM EBITDA of $15.08B and TTM operating income of $15.08B show growth is flowing through to the bottom line. TTM net income of $11.92B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 17.8%
Op. Margin: 17.8%
Net Margin: 14.0%

Op. margin of 17.8% is up 2.0% YoY — cost efficiency is improving. Net margin at 14.0% Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 10.4x
P/S Ratio: 1.4x
P/B Ratio: 3.6x

At 10.4x P/E, the stock trades below typical market levels. P/S of 1.4x and P/B of 3.6x provide additional context. P/E sits below typical market levels while revenue is growing. Across the last 8 quarters, P/E has fallen for 7 consecutive quarters — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $124.92B
Cash: $193.00M
Long-Term Debt: $8.39B
Book Value: $34.33B
D/E Ratio: 0.2
Debt/EBITDA: 2.0

With $124.92B in assets and $8.39B in long-term debt, D/E is 0.2and book value is $34.33B — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is up 3% — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $3.61B
TTM Free Cash Flow: $16.84B
FCF Margin: 18.6%
FCF / Net Income: 1.4

TTM FCF of $16.84B on $3.61B in operating cash flow. The FCF / Net Income ratio of 1.4x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has fallen for 2 consecutive quarters — a weakening trend.