Assurant, Inc. (AIZ) vs The Progressive Corporation (PGR)

Assurant, Inc. and The Progressive Corporation are both Insurance Property & Casualty companies. The Progressive Corporation is the larger, with a market value of $135.1B against $15.1B — 8.9× the size. The Progressive Corporation trades at the lower P/E: 11.7× against 14.2×. Assurant, Inc. grew revenue faster over the last twelve months: 9.43% against 7.67%. The Progressive Corporation has the higher net margin (12.7% vs 7.74%) and the higher return on invested capital (22.8% vs 0.00%). Both pay a dividend; The Progressive Corporation yields more (5.96% vs 1.15%). Across the 21 metrics below, The Progressive Corporation leads on 14 and Assurant, Inc. on 7.

Valuation

Metric AIZ PGR Insurance Property & Casualty median
P/E 14.23 11.71 12.17
P/S 1.10 1.48 1.26
P/B 2.52 3.93 1.85
Price to free cash flow 9.11 8.86 8.04
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 7.03% 8.54% 8.20%
Free cash flow yield 10.98% 11.28% 11.86%

Profitability

Metric AIZ PGR Insurance Property & Casualty median
Gross margin 78.07% 17.01% 37.39%
Operating margin 10.61% 17.01% 14.67%
Net margin 7.74% 12.67% 10.16%
Free cash flow margin 0.00% 16.66% 18.60%
Return on equity 18.12% 33.24% 16.59%
Return on assets 2.95% 9.32% 3.38%
Return on invested capital 0.00% 22.84% 9.43%

Growth

Metric AIZ PGR Insurance Property & Casualty median
Revenue growth (TTM) 9.43% 7.67% 5.70%
EPS growth (last fiscal year) 17.08% 33.54% 39.61%
Revenue growth, 5-year CAGR 5.95% 15.50% 9.23%
Net income growth, 5-year CAGR 15.43% 14.77% 10.09%

Health

Metric AIZ PGR Insurance Property & Casualty median
Debt to equity 0.37 0.24 0.25
Current ratio 0.66 0.25 0.49
Net debt to EBITDA 0.26 0.44 0.08

Dividend

Metric AIZ PGR Insurance Property & Casualty median
Dividend yield 1.15% 5.96% 1.56%
Payout ratio 0.17 0.70 0.15

Size

Metric AIZ PGR Insurance Property & Casualty median
Market cap 15.14b 135.10b 2.64b

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