The Progressive Corporation
PGR Financial Insurance Property & Casualty
The Progressive Corporation’s revenue for fiscal 2025 (year ended December 2025) was $87.7 billion, up 16.3% from fiscal 2024. In the quarter to September 2026, revenue fell 3.61%, EPS grew 4.80%, free cash flow fell 12.3% and total debt rose 21.7%, each against the same quarter a year earlier. Member of the S&P 500; revenue growth for ten consecutive years, operating cash flow growth for three.
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A Balance Sheet is a financial statement that provides a snapshot of a company's assets, liabilities, and shareholders' equity at a specific point in time. It follows the formula: Assets = Liabilities + Shareholders' Equity. Key components include current and non-current assets, current and long-term liabilities, and equity. The Balance Sheet helps businesses and investors evaluate financial stability, liquidity, and capital structure. It's essential for assessing the company's ability to meet its obligations and fund future operations.
| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
Cash and Short Term Investments |
138.00 | 154.00 | 100.00 | 220.90 | 202.10 | 76.50 | 227.40 | 75.00 | 275.30 | 226.40 |
Receivables |
19,445.00 | 19,134.00 | 17,052.00 | 16,249.00 | 14,380.00 | 12,179.50 | 10,886.20 | 9,193.20 | 7,695.90 | 6,394.00 |
Total current assets |
19,583.00 | 19,288.00 | 17,152.00 | 16,469.90 | 14,582.10 | 12,256.00 | 11,113.60 | 9,268.20 | 7,971.20 | 6,620.40 |
Property, Plant, Equpment (Net) |
783.00 | 790.00 | 881.00 | 1,034.00 | 1,137.30 | 1,106.00 | 1,213.70 | 1,131.70 | 1,119.60 | 1,177.10 |
Long-Term Investments |
98,043.00 | 80,844.00 | 66,437.00 | 53,830.80 | 51,695.80 | 47,706.70 | 39,435.60 | 33,758.20 | 27,394.40 | 23,586.50 |
Goodwill and Intangible Assets (Total) |
— | — | — | — | 570.00 | 624.10 | 681.00 | 747.30 | 819.30 | 882.20 |
Long Term Assets (Tax, Deferred) |
2,792.00 | 2,915.00 | 2,623.00 | 2,675.90 | 1,355.60 | 1,237.20 | 1,056.50 | 994.80 | 780.50 | 651.20 |
Long-term assets (Other) |
1,838.00 | 1,908.00 | 1,598.00 | 1,454.40 | 1,791.50 | 1,168.30 | 1,410.10 | 674.80 | 616.20 | 510.10 |
Total non-current assets |
103,456.00 | 86,457.00 | 71,539.00 | 58,995.10 | 56,550.20 | 51,842.30 | 43,796.90 | 37,306.80 | 30,730.00 | 26,807.10 |
Total Assets |
123,039.00 | 105,745.00 | 88,691.00 | 75,465.00 | 71,132.30 | 64,098.30 | 54,910.50 | 46,575.00 | 38,701.20 | 33,427.50 |
Accounts Payable |
85,819.00 | 73,261.00 | 61,525.00 | 53,185.70 | 47,849.00 | 41,353.60 | 36,486.60 | 31,133.80 | 25,471.40 | 21,727.20 |
Total current liabilities |
85,819.00 | 73,261.00 | 61,525.00 | 53,185.70 | 47,849.00 | 41,353.60 | 36,486.60 | 31,133.80 | 25,471.40 | 21,727.20 |
Long Term Debt (Total) |
6,897.00 | 6,893.00 | 6,889.00 | 6,388.30 | 4,898.80 | 5,396.10 | 4,407.10 | 4,404.90 | 3,306.30 | 3,148.20 |
Long Term Tax Liability (Deferred) |
— | — | — | — | 152.90 | 310.00 | 118.00 | (43.00) | 135.00 | 111.30 |
Minority Interests |
— | — | — | — | — | 0.00 | 225.60 | 214.50 | 503.70 | 483.70 |
Total non-current liabilities |
6,897.00 | 6,893.00 | 6,889.00 | 6,388.30 | 5,051.70 | 5,706.10 | 4,750.70 | 4,619.40 | 3,945.00 | 3,743.20 |
Total liabilities |
92,716.00 | 80,154.00 | 68,414.00 | 59,574.00 | 52,900.70 | 47,059.70 | 41,237.30 | 35,753.20 | 29,416.40 | 25,470.40 |
Additional Paid In Capital |
2,307.00 | 2,145.00 | 2,013.00 | 1,893.00 | 1,772.90 | 1,672.90 | 1,573.40 | 1,479.00 | 1,389.20 | 1,303.40 |
Preferred Stock (Total) |
— | — | 494.00 | 493.90 | 493.90 | 493.90 | 493.90 | 493.90 | — | — |
Common Stock (Net) |
586.00 | 586.00 | 585.00 | 584.90 | 584.40 | 585.20 | 584.60 | 583.20 | 581.70 | 579.90 |
Retained Earnings |
27,327.00 | 24,283.00 | 18,801.00 | 15,721.20 | 15,339.70 | 13,354.90 | 10,679.60 | 8,386.60 | 6,031.70 | 5,140.40 |
Common Equity (Total) |
30,323.00 | 25,591.00 | 19,783.00 | 15,397.10 | 17,737.70 | 16,544.70 | 13,179.30 | 10,327.90 | 9,284.80 | 7,957.10 |
Shareholders Equity (Total) |
30,323.00 | 25,591.00 | 20,277.00 | 15,891.00 | 18,231.60 | 17,038.60 | 13,673.20 | 10,821.80 | 9,284.80 | 7,957.10 |
Shareholders Equity and Liabilities (Total) |
123,039.00 | 105,745.00 | 88,691.00 | 75,465.00 | 71,132.30 | 64,098.30 | 54,910.50 | 46,575.00 | 38,701.20 | 33,427.50 |
Shares (Common) |
586.00 | 586.00 | 585.00 | 584.90 | 584.40 | 585.20 | 584.60 | 583.20 | 581.70 | 579.90 |
Shares (Preferred) |
— | — | 0.50 | 0.50 | 0.50 | 0.50 | 0.50 | 0.50 | — | — |
Shareholders Equity (Tangible) |
30,323.00 | 25,591.00 | 20,277.00 | 15,891.00 | 17,661.60 | 16,414.50 | 12,992.20 | 10,074.50 | 8,465.50 | 7,074.90 |
Net Debt |
6,759.00 | 6,739.00 | 6,789.00 | 6,167.40 | 4,696.70 | 5,319.60 | 4,179.70 | 4,329.90 | 3,031.00 | 2,921.80 |
Total Debt |
6,897.00 | 6,893.00 | 6,889.00 | 6,388.30 | 4,898.80 | 5,396.10 | 4,407.10 | 4,404.90 | 3,306.30 | 3,148.20 |