PGR

Progressive Corp

NYSE· Financial Services· Insurance - Property & Casualty· CUSIP 743315103

$229.62+3.74%Price as of Oct 23, 00:41 UTC · updated once a day, after the close

At a glance

Progressive Corp (PGR) is listed on NYSE and classified in Insurance - Property & Casualty, part of the Financial Services sector. It is headquartered in Mayfield, United States and has 70,053 employees. The company is worth $133.27B and trades at 11.2x its earnings of the last twelve months; the median for its sector is 13.2x. Revenue was $87.67B in fiscal 2025, up 16.3% from the year before. Net income was $11.31B. The share price is 4.1% below its 52-week high of $239.38. It pays a dividend yielding 6.05%. 8 of the 38 superinvestors we track held it at the end of Q2 2026. The largest position belongs to Two Sigma (Two Sigma Investments), at $662.04M. In that quarter, 3 of them opened or added to the position and 3 reduced it. Over the last 30 days, company insiders sold $250.26K of its stock on the open market and bought none. All of those sales were scheduled in advance under 10b5-1 plans.

Written from the data on this page: SEC filings (13F, Form 4, annual reports) and market prices.

Key metrics

Market cap: $133.27B
P/E: 11.2x
Forward P/E: 14.1x
P/B: 3.9x
Dividend yield: 6.05%
Payout: 67.51%
EPS: $20.59
ROE: 33.24%
Profit margin: 12.67%
Revenue growth: +3.00%
Beta: 0.23
52-week high: $239.38
52-week low: $189.20

History

Year by year, from the annual reports; dividends from the payments themselves.

Equity, revenue and profitEquityRevenueNet income

Bars are year-end balances; lines are what happened during the year.

Revenue19 years

Net debtDebt minus cash — below zero means more cash than debt

Dividend per sharepaid in 30 of 31 years

Dividend growthComplete years only.

Investors holding this

Major managers that reported this stock in their latest 13F.

Price over time

▲ +135.1% over 5Y.

If you had invested$ago,

today you would have $2,572.42▲ +157.2%

Dividends reinvested, splits accounted for. Past prices say what happened, not what will.

Indicators, year by year

The last 19 closed years, each at that year’s closing price and reported numbers.

Indicator	Median	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
Year-end price		$227.72	$239.61	$159.28	$129.71	$102.65	$98.88	$72.39	$60.33	$56.32	$35.50	$31.80	$26.99	$27.27	$21.10	$19.51	$19.87	$17.99	$14.81	$19.16
P/E	13.9x	11.8x	16.6x	24.2x	109.9x	18.1x	10.2x	10.8x	13.6x	20.7x	20.2x	14.8x	12.6x	14.1x	14.3x	12.3x	12.3x	11.5x	—	11.6x
P/S	0.9x	1.5x	1.9x	1.5x	1.5x	1.3x	1.4x	1.1x	1.1x	1.2x	0.9x	0.9x	0.8x	0.9x	0.7x	0.8x	0.9x	0.8x	0.8x	0.9x
P/B	2.8x	4.4x	5.5x	4.6x	4.8x	3.3x	3.4x	3.1x	3.3x	3.5x	2.6x	2.5x	2.3x	2.6x	2.1x	2.1x	2.2x	2.1x	2.4x	2.8x
EPS		$19.23	$14.40	$6.58	$1.18	$5.66	$9.66	$6.72	$4.42	$2.72	$1.76	$2.15	$2.15	$1.93	$1.48	$1.59	$1.61	$1.57	-$0.10	$1.65
Dividend yield	2.15%	2.15%	0.48%	0.25%	0.31%	6.23%	2.68%	3.89%	1.86%	1.21%	2.50%	2.16%	5.53%	1.05%	6.67%	2.05%	5.84%	—	0.98%	10.44%
Payout	31.91%	25.48%	7.99%	6.08%	33.90%	113.07%	27.43%	41.88%	25.45%	25.04%	50.45%	31.91%	69.44%	14.77%	95.07%	25.09%	72.11%	—	—	121.21%
Profit margin	6.61%	12.90%	11.25%	6.28%	1.46%	7.02%	13.37%	10.17%	8.18%	5.93%	4.40%	6.08%	6.61%	6.41%	5.28%	6.44%	7.02%	7.26%	-0.55%	8.05%
ROE	18.40%	37.29%	33.14%	19.25%	4.54%	18.38%	33.48%	29.04%	24.17%	17.15%	12.96%	17.39%	18.49%	18.83%	15.02%	17.49%	17.66%	18.40%	-1.66%	23.96%

Median of the years shown; P/E years above 200x are left out.

Fair price, seven ways

Seven formulas applied to the reported numbers, each with its assumption next to the result. None of them predicts a price.

Graham

Earnings

$166.04

Square root of 22.5 × earnings × book value. Blind to intangibles, so it undervalues software and brands.

Lynch (PEGY)

Earnings

$428.60

Earnings growing 14.8% a year plus a 6.1% dividend yield. Growth capped at 25%.

Sector multiples

Earnings

$270.86

Median P/E of 13.2 among peers in the sector.

Its own history

Earnings

$285.98

Median P/E of 13.9 across this company’s own years on record.

Discounted cash flow

Cash flow

$974.82

Cash flow growing 14.8% a year for 10 years, discounted at 10%, then 2.5% forever.

EV/EBITDA

Operating

—

This formula has no meaning here — usually a loss, negative cash flow, or a missing input.

Gordon (dividends)

Dividends

$344.63

Dividend growing 5.5% a year against a 7.0% required return, from the stock’s beta.

How the average is calculated

The average of the method families that answered, not of the seven numbers: four of the seven start from the same earnings per share.

Earnings $287.87 (avg. of 4)+Cash flow $974.82+Dividends $344.63÷ 3 =$535.78

Average

$535.78

6 methods answered, across 3 families.

With a 25% margin of safety

$401.83

Room for errors in the reported numbers.

Trading at

$229.62

+133.3% from the average.

Models, not forecasts, and not investment advice. How each formula works →

Others in the same sector

Companies of similar size in Financial Services, for comparison. The columns are the same ones above, in the same order.

Stock	Price	P/E	P/B	Dividend yield	ROE	Market cap
SPGIS&P Global Inc.	$453.10	27.6x	4.2x	0.86%	14.26%	$133.57B
BBVABanco Bilbao Vizcaya Argentaria S.a	$25.03	11.8x	2.2x	4.31%	18.92%	$137.66B
IBKRInteractive Brokers Group, Inc.	$82.28	31.4x	6.0x	0.43%	23.67%	$140.19B
CBChubb Ltd	$363.95	12.8x	1.9x	1.12%	14.25%	$140.41B
BXBlackstone Inc.	$118.75	26.6x	10.5x	4.40%	31.37%	$141.94B
COFCapital One Financial Corp	$203.43	12.5x	1.1x	1.57%	9.39%	$124.8B

About the company

Employees: 70,053
Headquarters: Mayfield, United States
Website: progressive.com