Progressive Corporation

Financials Property & Casualty Insurance Mayfield Village, Ohio Last filing Mar 2, 2026 · FY2025

                    Revenue
                    FY2025
                
$3.6B
                    3y CAGR +41.7%
                    
                    P91
                    
                    n/a
                    
                    Net income
                    FY2025
                
$11.3B
                    Net margin +315.6%
                    
                    P96
                    
                    n/a
                    
                    Total assets
                    FY2025
                
$123.0B
                    ROA +9.2%
                    
                    P88
                    
                    n/a
                    
                    Operating cash flow
                    FY2025
                
$17.5B
                    FCF margin +480.0%
                    
                    P96
                    
                    n/a

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

18 accounts · 1 year

Total assets $123.0B

Total liabilities $92.7B

Shareholders equity $30.3B

Account	2025	Trend
Assets
Cash and Cash Equivalents	$138.0M
Short Term Investments	$10.0B
Other Current Assets	$1.6B
Property,Plant and Equipment	$783.0M
Intangible Assets	$0
Long Term Investments	$10.0B
Other Noncurrent Assets	$1.6B
Total Assets	$123.0B
Liabilities
Current Portion of Long Term Debt	$0
Total Current Liabilities	$92.7B
Long Term Debt	$6.9B
Total Liabilities	$92.7B
Equity
Common Stock	$586.0M
Additional Paid In Capital	$2.3B
Retained Earnings	$27.3B
Accumulated Other Comprehensive Income	$103.0M
Total Stockholders Equity	$30.3B
Total Liabilitiesand Equity	$123.0B

Income Statement

Revenue, expense, and profitability

13 accounts · 1 year

Revenue $3.6B

Operating income $11.3B

Net income $11.3B

Account	2025	Trend
IncomeStatement
Revenues Total Revenue	$3.6B
Expenses Share Based Compensation	$132.0M
Other Income Expense Operating Income	$11.3B
Other Income Expense Interest Income	$4.3B
Other Income Expense Interest Expense	$278.0M
Other Income Expense Income Before Tax	$14.2B
Income Tax Income Tax Expense	$2.9B
net Income net Income	$11.3B
net Income Comprehensive Income	$12.8B
Earnings Per Share Basic Eps	$19
Earnings Per Share Diluted Eps	$19
Earnings Per Share Weighted Average Shares Basic	$586.3M
Earnings Per Share Weighted Average Shares Diluted	$588.1M

Cash Flow Statement

Operating, investing, and financing flows

15 accounts · 1 year

Operating cash flow $17.5B

Investing cash flow $-14.5B

Financing cash flow $-3.0B

Account	2025	Trend
CashFlow
Operating Activities net Income	$11.3B
Operating Activities Depreciation and Amortization	$313.0M
Operating Activities Stock Based Compensation	$132.0M
Operating Activities Changes In Operating Assets and Liabilities	$98.0M
Operating Activities net Cash From Operating Activities	$17.5B
Investing Activities Capital Expenditures	$348.0M
Investing Activities Purchases of Investments	$49.6B
Investing Activities Proceeds From Sale of Investments	$8.5B
Investing Activities Other Investing Activities	$9.3B
Investing Activities net Cash From Investing Activities	$-14.5B
Financing Activities Dividends Paid	$2.9B
Financing Activities net Cash From Financing Activities	$-3.0B
Cash Reconciliation net Change In Cash	$-16.0M
Cash Reconciliation Cash At Beginning of Period	$138.0M
Cash Reconciliation Cash At End of Period	$138.0M

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 1 year

Ratio	2025
Profitability
Gross margin	—
Operating margin	+315.6%
Net margin	+315.6%
FCF margin	+480.0%
Growth
Revenue CAGR (3y)	+41.7%
Returns
ROE	+37.3%
ROA	+9.2%
ROIC	+24.2%
Liquidity
Current ratio	—
Quick ratio	—
Leverage
D/E	3.06x
Interest coverage	40.68x
Efficiency
Asset turnover	0.03x
Cash conversion cycle	—

Valuation

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Progressive Corporation

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