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 $135.1B against $82.6B — 1.6× the size. The Travelers Companies, Inc. trades at the lower P/E: 10.4× against 11.7×. The Progressive Corporation grew revenue faster over the last twelve months: 7.67% against 1.07%. The Travelers Companies, Inc. has the higher net margin (16.9% vs 12.7%) and the lower return on invested capital (17.8% vs 22.8%). Both pay a dividend; The Progressive Corporation yields more (5.96% vs 1.17%). Across the 21 metrics below, The Travelers Companies, Inc. leads on 11 and The Progressive Corporation on 10.

Valuation

Metric PGR TRV Insurance Property & Casualty median
P/E 11.71 10.38 12.17
P/S 1.48 1.70 1.26
P/B 3.93 2.87 1.85
Price to free cash flow 8.86 7.82 8.04
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 8.54% 9.63% 8.20%
Free cash flow yield 11.28% 12.78% 11.86%

Profitability

Metric PGR TRV Insurance Property & Casualty median
Gross margin 17.01% 49.67% 37.39%
Operating margin 17.01% 22.12% 14.67%
Net margin 12.67% 16.91% 10.16%
Free cash flow margin 16.66% 21.74% 18.60%
Return on equity 33.24% 27.30% 16.59%
Return on assets 9.32% 5.79% 3.38%
Return on invested capital 22.84% 17.78% 9.43%

Growth

Metric PGR TRV Insurance Property & Casualty median
Revenue growth (TTM) 7.67% 1.07% 5.70%
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 0.34 0.25
Current ratio 0.25 0.27 0.49
Net debt to EBITDA 0.44 0.52 0.08

Dividend

Metric PGR TRV Insurance Property & Casualty median
Dividend yield 5.96% 1.17% 1.56%
Payout ratio 0.70 0.12 0.15

Size

Metric PGR TRV Insurance Property & Casualty median
Market cap 135.10b 82.57b 2.64b

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