Loews Corporation (L) vs The Progressive Corporation (PGR)

Loews Corporation and The Progressive Corporation are both Insurance Property & Casualty companies. The Progressive Corporation is the larger, with a market value of $133.1B against $22.5B — 5.9× the size. The Progressive Corporation trades at the lower P/E: 11.5× against 15.0×. The Progressive Corporation grew revenue faster over the last twelve months: 5.92% against 2.82%. The Progressive Corporation has the higher net margin (12.9% vs 7.93%) and the higher return on invested capital (49.3% vs 0.00%). Both pay a dividend; The Progressive Corporation yields more (6.07% vs 0.23%). Across the 21 metrics below, The Progressive Corporation leads on 16 and Loews Corporation on 5.

Valuation

Metric L PGR Insurance Property & Casualty median
P/E 15.01 11.50 11.87
P/S 1.19 1.48 1.26
P/B 1.12 3.89 1.99
Price to free cash flow 12.46 8.33 8.12
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 6.66% 8.70% 8.04%
Free cash flow yield 8.03% 12.00% 11.85%

Profitability

Metric L PGR Insurance Property & Casualty median
Gross margin 52.93% 37.48% 41.66%
Operating margin 12.52% 37.48% 14.71%
Net margin 7.93% 12.88% 10.84%
Free cash flow margin 13.89% 0.00% 17.46%
Return on equity 7.76% 0.00% 16.87%
Return on assets 1.74% 9.32% 3.57%
Return on invested capital 0.00% 49.30% 12.03%

Growth

Metric L PGR Insurance Property & Casualty median
Revenue growth (TTM) 2.82% 5.92% 5.92%
EPS growth (last fiscal year) 24.34% 33.54% 39.61%
Revenue growth, 5-year CAGR 7.96% 15.50% 9.23%
Net income growth, 5-year CAGR 0.00% 14.77% 10.09%

Health

Metric L PGR Insurance Property & Casualty median
Debt to equity 0.47 0.24 0.25
Current ratio 0.00 0.28 0.42
Net debt to EBITDA 2.88 0.44 0.08

Dividend

Metric L PGR Insurance Property & Casualty median
Dividend yield 0.23% 6.07% 1.44%
Payout ratio 0.03 0.70 0.14

Size

Metric L PGR Insurance Property & Casualty median
Market cap 22.48b 133.14b 2.61b

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