PROGRESSIVE CORP (PGR) Fundamental Analysis & Valuation

NYSE:PGR • US7433151039

Current stock price

202.58 USD
-0.89 (-0.44%)
At close:
202.85 USD
+0.27 (+0.13%)
After Hours:

This PGR fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

7

1. PGR Profitability Analysis

1.1 Basic Checks

  • PGR had positive earnings in the past year.
  • PGR had a positive operating cash flow in the past year.
  • Each year in the past 5 years PGR has been profitable.
  • In the past 5 years PGR always reported a positive cash flow from operatings.
PGR Yearly Net Income VS EBIT VS OCF VS FCFPGR Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B

1.2 Ratios

  • With an excellent Return On Assets value of 9.19%, PGR belongs to the best of the industry, outperforming 93.88% of the companies in the same industry.
  • PGR has a better Return On Equity (37.29%) than 97.28% of its industry peers.
  • With an excellent Return On Invested Capital value of 10.88%, PGR belongs to the best of the industry, outperforming 91.16% of the companies in the same industry.
  • PGR had an Average Return On Invested Capital over the past 3 years of 8.35%. This is in line with the industry average of 9.51%.
  • The last Return On Invested Capital (10.88%) for PGR is above the 3 year average (8.35%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 9.19%
ROE 37.29%
ROIC 10.88%
ROA(3y)7.18%
ROA(5y)5.43%
ROE(3y)29.81%
ROE(5y)22.41%
ROIC(3y)8.35%
ROIC(5y)6.4%
PGR Yearly ROA, ROE, ROICPGR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30

1.3 Margins

  • PGR has a Profit Margin of 12.90%. This is in the better half of the industry: PGR outperforms 68.71% of its industry peers.
  • In the last couple of years the Profit Margin of PGR has remained more or less at the same level.
  • PGR has a better Operating Margin (16.55%) than 66.67% of its industry peers.
  • PGR's Operating Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 16.55%
PM (TTM) 12.9%
GM N/A
OM growth 3Y80.71%
OM growth 5Y-0.92%
PM growth 3Y109.62%
PM growth 5Y-0.63%
GM growth 3YN/A
GM growth 5YN/A
PGR Yearly Profit, Operating, Gross MarginsPGR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15

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4

2. PGR Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), PGR is creating some value.
  • The number of shares outstanding for PGR remains at a similar level compared to 1 year ago.
  • PGR has about the same amout of shares outstanding than it did 5 years ago.
  • PGR has a better debt/assets ratio than last year.
PGR Yearly Shares OutstandingPGR Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M 500M
PGR Yearly Total Debt VS Total AssetsPGR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20B 40B 60B 80B 100B

2.2 Solvency

  • The Debt to FCF ratio of PGR is 0.40, which is an excellent value as it means it would take PGR, only 0.40 years of fcf income to pay off all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 0.40, PGR belongs to the top of the industry, outperforming 85.71% of the companies in the same industry.
  • PGR has a Debt/Equity ratio of 0.23. This is a healthy value indicating a solid balance between debt and equity.
  • The Debt to Equity ratio of PGR (0.23) is better than 65.99% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.23
Debt/FCF 0.4
Altman-Z N/A
ROIC/WACC1.27
WACC8.59%
PGR Yearly LT Debt VS Equity VS FCFPGR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
PGR Yearly Current Assets VS Current LiabilitesPGR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

6

3. PGR Growth Analysis

3.1 Past

  • PGR shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 23.98%, which is quite impressive.
  • The Earnings Per Share has been growing by 19.56% on average over the past years. This is quite good.
  • Looking at the last year, PGR shows a quite strong growth in Revenue. The Revenue has grown by 13.89% in the last year.
  • The Revenue has been growing by 15.50% on average over the past years. This is quite good.
EPS 1Y (TTM)23.98%
EPS 3Y63.44%
EPS 5Y19.56%
EPS Q2Q%6.67%
Revenue 1Y (TTM)13.89%
Revenue growth 3Y20.9%
Revenue growth 5Y15.5%
Sales Q2Q%6.46%

3.2 Future

  • The Earnings Per Share is expected to decrease by -2.66% on average over the next years.
  • PGR is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 10.32% yearly.
EPS Next Y-9.83%
EPS Next 2Y-5.22%
EPS Next 3Y-3.99%
EPS Next 5Y-2.66%
Revenue Next Year5.79%
Revenue Next 2Y6.56%
Revenue Next 3Y5.62%
Revenue Next 5Y10.32%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
  • The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
PGR Yearly Revenue VS EstimatesPGR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 20B 40B 60B 80B 100B
PGR Yearly EPS VS EstimatesPGR Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 5 10 15

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4

4. PGR Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 10.91, the valuation of PGR can be described as very reasonable.
  • PGR's Price/Earnings ratio is in line with the industry average.
  • Compared to an average S&P500 Price/Earnings ratio of 27.89, PGR is valued rather cheaply.
  • Based on the Price/Forward Earnings ratio of 12.36, the valuation of PGR can be described as correct.
  • PGR's Price/Forward Earnings ratio is in line with the industry average.
  • The average S&P500 Price/Forward Earnings ratio is at 38.50. PGR is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 10.91
Fwd PE 12.36
PGR Price Earnings VS Forward Price EarningsPGR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • The rest of the industry has a similar Enterprise Value to EBITDA ratio as PGR.
  • The rest of the industry has a similar Price/Free Cash Flow ratio as PGR.
Industry RankSector Rank
P/FCF 6.89
EV/EBITDA 8.46
PGR Per share dataPGR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 50 100

4.3 Compensation for Growth

  • PGR has a very decent profitability rating, which may justify a higher PE ratio.
  • PGR's earnings are expected to decrease with -3.99% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)0.56
EPS Next 2Y-5.22%
EPS Next 3Y-3.99%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

4

5. PGR Dividend Analysis

5.1 Amount

  • With a yearly dividend of 0.20%, PGR is not a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 2.37, PGR is paying slightly less dividend.
  • Compared to an average S&P500 Dividend Yield of 1.82, PGR's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.2%

5.2 History

  • The dividend of PGR is nicely growing with an annual growth rate of 12.68%!
  • PGR has paid a dividend for at least 10 years, which is a reliable track record.
  • PGR has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)12.68%
Div Incr Years3
Div Non Decr Years4
PGR Yearly Dividends per sharePGR Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2 4 6 8 10

5.3 Sustainability

  • 25.39% of the earnings are spent on dividend by PGR. This is a low number and sustainable payout ratio.
DP25.39%
EPS Next 2Y-5.22%
EPS Next 3Y-3.99%
PGR Yearly Income VS Free CF VS DividendPGR Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B
PGR Dividend Payout.PGR Dividend Payout, showing the Payout Ratio.PGR Dividend Payout.PayoutRetained Earnings

More info and screens

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PGR Fundamentals: All Metrics, Ratios and Statistics

PROGRESSIVE CORP

NYSE:PGR (4/17/2026, 8:04:00 PM)

After market: 202.85 +0.27 (+0.13%)

202.58

-0.89 (-0.44%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)04-15
Earnings (Next)08-03
Inst Owners88.51%
Inst Owner Change0.05%
Ins Owners0.16%
Ins Owner Change-1.38%
Market Cap118.50B
Revenue(TTM)89.42B
Net Income(TTM)11.31B
Analysts70
Price Target233.11 (15.07%)
Short Float %1.25%
Short Ratio2.31
Dividend
Industry RankSector Rank
Dividend Yield 0.2%
Yearly Dividend4.9
Dividend Growth(5Y)12.68%
DP25.39%
Div Incr Years3
Div Non Decr Years4
Ex-Date04-02
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-7.81%
Min EPS beat(2)-20.4%
Max EPS beat(2)4.78%
EPS beat(4)2
Avg EPS beat(4)-2.6%
Min EPS beat(4)-20.4%
Max EPS beat(4)9.13%
EPS beat(8)5
Avg EPS beat(8)5.54%
EPS beat(12)7
Avg EPS beat(12)-1.79%
EPS beat(16)9
Avg EPS beat(16)-3.3%
Revenue beat(2)0
Avg Revenue beat(2)-3.3%
Min Revenue beat(2)-3.64%
Max Revenue beat(2)-2.96%
Revenue beat(4)1
Avg Revenue beat(4)-1.92%
Min Revenue beat(4)-3.64%
Max Revenue beat(4)2.42%
Revenue beat(8)4
Avg Revenue beat(8)-0.09%
Revenue beat(12)4
Avg Revenue beat(12)-1.29%
Revenue beat(16)5
Avg Revenue beat(16)-1.88%
PT rev (1m)-3.54%
PT rev (3m)-9.38%
EPS NQ rev (1m)3.88%
EPS NQ rev (3m)10.22%
EPS NY rev (1m)1.12%
EPS NY rev (3m)0.86%
Revenue NQ rev (1m)-1.1%
Revenue NQ rev (3m)-3.01%
Revenue NY rev (1m)-1.07%
Revenue NY rev (3m)-1.81%
Valuation
Industry RankSector Rank
PE 10.91
Fwd PE 12.36
P/S 1.35
P/FCF 6.89
P/OCF 6.75
P/B 3.91
P/tB 3.91
EV/EBITDA 8.46
EPS(TTM)18.56
EY9.16%
EPS(NY)16.39
Fwd EY8.09%
FCF(TTM)29.4
FCFY14.51%
OCF(TTM)30
OCFY14.81%
SpS149.82
BVpS51.84
TBVpS51.84
PEG (NY)N/A
PEG (5Y)0.56
Graham Number147.131 (-27.37%)
Profitability
Industry RankSector Rank
ROA 9.19%
ROE 37.29%
ROCE 13.71%
ROIC 10.88%
ROICexc 10.89%
ROICexgc 11.62%
OM 16.55%
PM (TTM) 12.9%
GM N/A
FCFM 19.63%
ROA(3y)7.18%
ROA(5y)5.43%
ROE(3y)29.81%
ROE(5y)22.41%
ROIC(3y)8.35%
ROIC(5y)6.4%
ROICexc(3y)8.36%
ROICexc(5y)6.41%
ROICexgc(3y)8.99%
ROICexgc(5y)6.97%
ROCE(3y)10.52%
ROCE(5y)8.07%
ROICexgc growth 3Y87.07%
ROICexgc growth 5Y-0.21%
ROICexc growth 3Y90.24%
ROICexc growth 5Y0.75%
OM growth 3Y80.71%
OM growth 5Y-0.92%
PM growth 3Y109.62%
PM growth 5Y-0.63%
GM growth 3YN/A
GM growth 5YN/A
F-Score8
Asset Turnover0.71
Health
Industry RankSector Rank
Debt/Equity 0.23
Debt/FCF 0.4
Debt/EBITDA 0.47
Cap/Depr 111.18%
Cap/Sales 0.4%
Interest Coverage 52.54
Cash Conversion 118.46%
Profit Quality 152.1%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score8
WACC8.59%
ROIC/WACC1.27
Cap/Depr(3y)98.54%
Cap/Depr(5y)90.91%
Cap/Sales(3y)0.39%
Cap/Sales(5y)0.46%
Profit Quality(3y)198.75%
Profit Quality(5y)353.28%
High Growth Momentum
Growth
EPS 1Y (TTM)23.98%
EPS 3Y63.44%
EPS 5Y19.56%
EPS Q2Q%6.67%
EPS Next Y-9.83%
EPS Next 2Y-5.22%
EPS Next 3Y-3.99%
EPS Next 5Y-2.66%
Revenue 1Y (TTM)13.89%
Revenue growth 3Y20.9%
Revenue growth 5Y15.5%
Sales Q2Q%6.46%
Revenue Next Year5.79%
Revenue Next 2Y6.56%
Revenue Next 3Y5.62%
Revenue Next 5Y10.32%
EBIT growth 1Y31.92%
EBIT growth 3Y118.48%
EBIT growth 5Y14.43%
EBIT Next Year10.58%
EBIT Next 3Y0.4%
EBIT Next 5YN/A
FCF growth 1Y15.95%
FCF growth 3Y37.92%
FCF growth 5Y20.82%
OCF growth 1Y16.07%
OCF growth 3Y36.84%
OCF growth 5Y20.51%

PROGRESSIVE CORP / PGR Fundamental Analysis FAQ

What is the fundamental rating for PGR stock?

ChartMill assigns a fundamental rating of 5 / 10 to PGR.


What is the valuation status of PROGRESSIVE CORP (PGR) stock?

ChartMill assigns a valuation rating of 4 / 10 to PROGRESSIVE CORP (PGR). This can be considered as Fairly Valued.


How profitable is PROGRESSIVE CORP (PGR) stock?

PROGRESSIVE CORP (PGR) has a profitability rating of 7 / 10.


What is the financial health of PROGRESSIVE CORP (PGR) stock?

The financial health rating of PROGRESSIVE CORP (PGR) is 4 / 10.


Is the dividend of PROGRESSIVE CORP sustainable?

The dividend rating of PROGRESSIVE CORP (PGR) is 4 / 10 and the dividend payout ratio is 25.39%.