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Saturday 17 October 2026 Export PGR’s income statement to Excel — free account

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.

218.49 4.74 +2.22%
Market cap
$124.2B
P/E
10.9×
Fwd P/E
12.6×
Dividend yield
6.36%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

The Progressive Corporation (PGR) Debt to equity

Alert me on Debt to equity

The Progressive Corporation's debt to equity at the end of the quarter to 30 September 2026 was 0.2×, up 0.0× from fiscal 2025 (0.2×). Over the past ten years it has ranged from 0.2× (fiscal 2025) to 0.4× (fiscal 2018) — the current reading is the lowest in ten years. That is in line with the Insurance Property & Casualty industry median of 0.2× and above the Financial sector median of 0.2×.

Debt to equity, annual

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Annual newest first

Period Debt to equity Change
FY2025 0.2× (15.55%)
FY2024 0.3× (20.69%)
FY2023 0.3× (15.50%)
FY2022 0.4× 49.61%
FY2021 0.3× (15.16%)
FY2020 0.3× (1.74%)
FY2019 0.3× (20.81%)
FY2018 0.4× 14.29%
FY2017 0.4× (9.98%)
FY2016 0.4× 6.49%

Quarterly newest first

Period Debt to equity Change
Sep 2026 0.2× (0.41%)
Jun 2026 0.2× (6.65%)
Mar 2026 0.3× 15.03%
Dec 2025 0.2× 16.91%
43 more quarters

Against its own ten years

Low 0.2× High 0.4×
Ten-year median 0.3×
Current reading's percentile 9

Debt to equity against peers

Company Debt to equity
CINF Cincinnati Financial Corporation compare 0.1×
ALL The Allstate Corporation compare 0.2×
MKL Markel Group Inc. compare 0.2×
PGR The Progressive Corporation 0.2×
CB Chubb Limited compare 0.3×
TRV The Travelers Companies, Inc. compare 0.3×
WRB W.R. Berkley Corporation compare 0.3×
AIZ Assurant, Inc. compare 0.4×
L Loews Corporation compare 0.4×
Insurance Property & Casualty industry median 0.2×
Financial sector median 0.2×
Market median 0.1×

What Debt to equity is

Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.

(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)

The full definition of Debt to equity →

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