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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The Progressive Corporation (PGR) Net margin
The Progressive Corporation's net margin over the twelve months to 30 September 2026 was 12.9%, down 0.0 percentage points from fiscal 2025 (12.9%). Over the past ten years it has ranged from 1.40% (fiscal 2022) to 13.3% (fiscal 2020); the current reading is higher than 91% of that period. That is above the Insurance Property & Casualty industry median of 11.5% and in line with the Financial sector median of 13.5%.
Net margin, annual
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Annual newest first
| Period | Net margin | Change (points) |
|---|---|---|
| FY2025 | 12.9% | 1.67 |
| FY2024 | 11.2% | 5.01 |
| FY2023 | 6.22% | 4.82 |
| FY2022 | 1.40% | (5.57) |
| FY2021 | 6.97% | (6.34) |
| FY2020 | 13.3% | 3.20 |
| FY2019 | 10.1% | 2.00 |
| FY2018 | 8.11% | 2.18 |
| FY2017 | 5.93% | 1.53 |
| FY2016 | 4.40% | (1.68) |
Quarterly newest first
| Period | Net margin | Change (points) |
|---|---|---|
| Sep 2026 | 11.7% | (2.31) |
| Jun 2026 | 14.0% | 1.32 |
| Mar 2026 | 12.7% | (0.27) |
| Dec 2025 | 13.0% | 1.35 |
| 43 more quarters | Free account |
Against its own ten years
Net margin against peers
| Company | Net margin |
|---|---|
| CINF Cincinnati Financial Corporation compare | 23.8% |
| ALL The Allstate Corporation compare | 18.8% |
| CB Chubb Limited compare | 18.1% |
| TRV The Travelers Companies, Inc. compare | 16.8% |
| MKL Markel Group Inc. compare | 13.8% |
| WRB W.R. Berkley Corporation compare | 12.9% |
| PGR The Progressive Corporation | 12.9% |
| L Loews Corporation compare | 9.02% |
| AIZ Assurant, Inc. compare | 7.84% |
| Insurance Property & Casualty industry median | 11.5% |
| Financial sector median | 13.5% |
| Market median | 0.45% |
What Net margin is
Net Profit Margin tells an investor how much of each unit of revenue ends up as profit for shareholders after all costs, interest and taxes.
Net Income Allotted to Shareholders ÷ Revenue
More on PGR
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- The full statement