The Progressive Corporation (PGR) vs The Travelers Companies, Inc. (TRV)

The Progressive Corporation and The Travelers Companies, Inc. are both Insurance Property & Casualty companies. The Progressive Corporation is the larger, with a market value of $124.2B against $80.1B — 1.6× the size. The Travelers Companies, Inc. trades at the lower P/E: 10.3× against 10.9×. The Progressive Corporation grew revenue faster over the last twelve months: 5.92% against 2.39%. The Travelers Companies, Inc. has the higher net margin (16.8% vs 12.9%) and the lower return on invested capital (16.2% vs 49.3%). Both pay a dividend; The Progressive Corporation yields more (6.36% vs 1.21%). Across the 21 metrics below, The Progressive Corporation leads on 11 and The Travelers Companies, Inc. on 10.

Valuation

Metric PGR TRV Insurance Property & Casualty median
P/E 10.94 10.28 10.75
P/S 1.41 1.67 1.21
P/B 3.71 2.48 1.99
Price to free cash flow 7.95 7.48 7.76
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 9.14% 9.73% 9.08%
Free cash flow yield 12.57% 13.38% 12.11%

Profitability

Metric PGR TRV Insurance Property & Casualty median
Gross margin 37.48% 49.51% 41.16%
Operating margin 37.48% 22.03% 15.09%
Net margin 12.88% 16.83% 11.51%
Free cash flow margin 0.00% 22.40% 17.46%
Return on equity 0.00% 26.32% 17.34%
Return on assets 9.32% 5.84% 3.74%
Return on invested capital 49.30% 16.22% 12.06%

Growth

Metric PGR TRV Insurance Property & Casualty median
Revenue growth (TTM) 5.92% 2.39% 8.02%
EPS growth (last fiscal year) 33.54% 27.76% 39.61%
Revenue growth, 5-year CAGR 15.50% 8.83% 9.23%
Net income growth, 5-year CAGR 14.77% 18.44% 10.09%

Health

Metric PGR TRV Insurance Property & Casualty median
Debt to equity 0.24 0.27 0.25
Current ratio 0.28 0.27 0.42
Net debt to EBITDA 0.44 0.52 0.08

Dividend

Metric PGR TRV Insurance Property & Casualty median
Dividend yield 6.36% 1.21% 1.50%
Payout ratio 0.70 0.13 0.14

Size

Metric PGR TRV Insurance Property & Casualty median
Market cap 124.21b 80.07b 2.67b

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