Is Progressive Corporation (PGR) overvalued or fairly valued?

MarketChacha shows Progressive Corporation's valuation in context — a trailing P/E of about 10.8, a forward P/E of about 13.4, a price-to-book of about 3.7 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does Progressive Corporation's reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (1.83×) from reported figures — education, not a rating.

What is Progressive Corporation's revenue?

Progressive Corporation reported revenue of $87.7B for FY2025, with net profit of $11.3B, per official filings.

What is the share price of Progressive Corporation (PGR)?

Progressive Corporation last traded at $218.95 (-2.2% on the day), as of 9/4/2026 — a delayed quote shown for education, not investment advice.

Progressive Corporation

PGR · NYSE · Financials · United States

Snapshot

TickerPGR

ExchangeNYSE

SectorFinancials

IndustryInsurance - Property & Casualty

CountryUnited States

Employees70,053

HeadquartersMayfield, United States

Websitewww.progressive.com

Filings tracked20

About Progressive Corporation

The Progressive Corporation operates as an insurance company in the United States. It writes insurance for personal autos and special lines products, including motorcycles, RVs, and watercraft; and personal residential property insurance for homeowners and renters. The company also writes auto-related liability and physical damage insurance for comprising dump trucks, log trucks, garbage trucks, tractors, trailers, straight trucks, tow trucks and wreckers, vans, pick-up trucks, and autos; business-related general liability and commercial property insurance for small businesses; and workers' compensation insurance for the transportation industry. In addition, it offers other specialty property-casualty insurance and provides related services; personal property reinsurance products; and involved in investment activities. It sells its products through independent insurance agencies, as well as online and over the phone. The Progressive Corporation was founded in 1937 and is headquartered in Mayfield, Ohio.

Who owns it

Insiders0.2%
Institutions89.9%
Public & other9.9%

2,477 institutional holders

Ownership breakdown from public market data.

Top holders

Blackrock Inc.8.26%
Vanguard Capital Management LLC6.56%
Capital Research Global Investors4.57%
State Street Corporation4.56%
Geode Capital Management, LLC2.93%
Capital World Investors2.15%
Bank of America Corporation2.11%
Vanguard Portfolio Management LLC2.01%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

No major accounting red flags in the fundamentals we have — profit is backed by cash and returns look healthy.

Cash conversion1.83×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Net margin trend6.3% → 12.9%

Margin has expanded by about 6.6 points — the business is getting more profitable.

Return on equity37.3%

Latest ROE of 37.3% — capital is generating a healthy return.

Growth qualityrev 19% · PAT 70%

Profit growth is broadly tracking revenue growth — the earnings trend looks operational rather than one-off.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $20.3B · EPS 4.19

Est. earnings growth -10.3%

Next fiscal year

Rev $92.5B · EPS 16.29

Est. earnings growth -9.3%

Analyst consensus estimates — not the company's own guidance.

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Revenue (FY2025)

$87.7B

Net margin

12.9%

ROE

37.3%

Revenue CAGR (2y)

+18.8%

Profit CAGR (2y)

+70.2%

EPS (FY2025)

19.23

Net profit (FY2025)

$11.3B

Ask MarketChacha about PGR

Get a cited, plain-English answer — the “why”, not just data. Finance research only, never buy/sell advice.

Financials

Yearly

Period	Revenue	Net profit	EPS	Net margin	ROE
FY2025	$87.7B	$11.3B	19.23	12.9%	37.3%
FY2024	$75.4B	$8.5B	14.40	11.3%	33.1%
FY2023	$62.1B	$3.9B	6.58	6.3%	19.2%

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q2	$23.6B	$3.3B	5.67	14.0%
2026Q1	$22.2B	$2.8B	4.80	12.7%
2025Q3	$22.5B	$2.6B	4.45	11.6%
2025Q2	$22.0B	$3.2B	5.40	14.4%
2025Q1	$20.4B	$2.6B	4.37	12.6%
2024Q3	$19.7B	$2.3B	3.97	11.8%
2024Q2	$18.1B	$1.5B	2.48	8.0%
2024Q1	$17.2B	$2.3B	3.94	13.5%
2023Q3	$15.6B	$1.1B	1.89	7.2%
2023Q2	$15.4B	$345.4M	0.57	2.2%
2023Q1	$14.3B	$447.9M	0.75	3.1%

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

8-K — Reg FD disclosure, Exhibits
SEC8/10/2026material
10-Q filing
SEC8/3/2026
8-K — Results of operations, Exhibits
SEC7/15/2026material
8-K — Executive/director change, Reg FD disclosure, Exhibits
SEC6/17/2026material
8-K — Reg FD disclosure, Exhibits
SEC5/20/2026material
8-K — Executive/director change, Shareholder vote results, Reg FD disclosure, Exhibits
SEC5/12/2026material
10-Q filing
SEC5/4/2026
8-K — Results of operations, Exhibits
SEC4/15/2026material
8-K — Other events, Exhibits
SEC3/26/2026material
8-K — Reg FD disclosure, Exhibits
SEC3/18/2026material
10-K filing
SEC3/2/2026
8-K — Reg FD disclosure, Exhibits
SEC2/18/2026material
8-K — Results of operations, Executive/director change, Exhibits
SEC1/28/2026material

2025

8-K — Reg FD disclosure, Exhibits
SEC12/17/2025material
8-K — Reg FD disclosure, Exhibits
SEC11/19/2025material
10-Q filing
SEC11/3/2025
8-K — Results of operations, Exhibits
SEC10/15/2025material
8-K — Reg FD disclosure, Exhibits
SEC9/17/2025material
8-K — Reg FD disclosure, Exhibits
SEC8/20/2025material
10-Q filing
SEC8/4/2025

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.