Progressive Corp/Oh/ (PGR): price, analyst ratings, earnings and fundamentals
Updated 16 September 2026, 08:02 ET
Progressive Corp/Oh/ (PGR) closed at $221.31 on 15 September 2026, up 0.1%. The stock is up 5.6% over one month and down 10.9% over one year. It trades 11.2% below its 52-week high of $249.14. Analysts recorded 20 actions in the last 90 days; the median price target of $226 is 1.9% above the last close. The company last reported on 15 July 2026 for Q2 2026: EPS of $4.86 against an estimate of $4.59, a beat of 5.9%, on revenue of $21.6 billion.
Price and performance
Performance figures use dividend and split adjusted closes over trading sessions, so a one-year move compares the last close with the close 252 sessions earlier. The 52-week range uses the adjusted daily highs and lows of the same window. Read the guide: Momentum, trend and technical indicators.
The live chart with technical indicators is in the app: open PGR in FundSpec.
Analyst ratings
Over the last 90 days FundSpec recorded 20 analyst actions on PGR from 11 firms: 17 maintained or reiterated a view, 2 upgrades and 1 downgrade. Price targets were 10 raised and 9 lowered. The most recent targets from 12 firms range from $200 to $308, with a median of $226, 1.9% above the last close.
| Date | Firm | Action | Price target |
|---|---|---|---|
| 27 Aug 2026 | UBS | Maintains Neutral | $225.00 to $234.00 |
| 20 Aug 2026 | Wells Fargo | Maintains Underweight | $198.00 to $201.00 |
| 20 Aug 2026 | Keefe, Bruyette & Woods | Upgrades to Outperform from Market Perform | $226.00 to $250.00 |
| 17 Aug 2026 | Cantor Fitzgerald | Maintains Neutral | $220.00 to $200.00 |
| 4 Aug 2026 | JP Morgan | Maintains Neutral | $250.00 to $241.00 |
| 24 Jul 2026 | Morgan Stanley | Upgrades to Equal-Weight from Underweight | $190.00 to $210.00 |
| 16 Jul 2026 | B of A Securities | Maintains Buy | $313.00 to $308.00 |
| 16 Jul 2026 | Wells Fargo | Maintains Underweight | $205.00 to $198.00 |
| 16 Jul 2026 | Evercore ISI Group | Maintains In-Line | $240.00 to $230.00 |
| 16 Jul 2026 | BMO Capital | Maintains Market Perform | $220.00 to $205.00 |
A price target is one firm's twelve-month view, and the median across firms is a steadier reading than any single call. Upgrades and downgrades matter more when they change a rating, not only a target. Read the guide: What analyst ratings and price targets actually tell you.
Every action with the firm's history is in Analyst Ratings.
Earnings
The next report is scheduled for 14 October 2026 before the open for Q3 2026, with EPS expected at $4.02 on revenue of $22.5 billion. Progressive Corp/Oh/ beat the EPS estimate in 5 of its last 8 reported quarters.
| Period | Reported | EPS estimate | EPS actual | Surprise | Revenue |
|---|---|---|---|---|---|
| Q2 2026 | 15 Jul 2026 | $4.59 | $4.86 | +5.88% | $21.6B |
| Q1 2026 | 15 Apr 2026 | $4.82 | $4.96 | +2.90% | $21.0B |
| Q4 2025 | 28 Jan 2026 | $4.44 | $4.67 | +5.18% | $21.1B |
| Q3 2025 | 15 Oct 2025 | $5.03 | $4.06 | -19.28% | $20.8B |
| Q2 2025 | 16 Jul 2025 | $4.29 | $4.88 | +13.75% | $20.3B |
| Q1 2025 | 16 Apr 2025 | $4.81 | $4.66 | -3.12% | $19.4B |
| Q4 2024 | 29 Jan 2025 | $3.56 | $4.08 | +14.61% | $19.1B |
| Q3 2024 | 15 Oct 2024 | $3.61 | $3.58 | -0.83% | $18.3B |
An earnings surprise is the reported EPS against the consensus estimate on the day. The price reaction depends as much on guidance and on what was already priced in as on the surprise itself. Read the guide: Earnings season: estimates, surprises and price reaction.
Estimates, confirmed dates and alerts for every company are in Earnings.
Fundamentals
For the period ended 30 June 2026, Progressive Corp/Oh/ reported revenue of $23.6 billion and net income of $3.3 billion. On a trailing twelve month basis the company shows revenue growth of 10.49%, a gross margin of N.A., an operating margin of 16.56% and a return on equity of 34.94%.
Income statement
| Line | Amount |
|---|---|
| Revenue | $23,609,000,000 |
| Depreciation & Amortization | $82,000,000 |
| Interest Expense | $88,000,000 |
| Pre-tax Income | $4,209,000,000 |
| Income Tax Expense | $898,000,000 |
| Net Income | $3,311,000,000 |
Cash flow
| Line | Amount |
|---|---|
| Cash from Operating Activities | $3,607,000,000 |
| Cash from Investing Activities | -$2,921,000,000 |
| Capital Expenditures | $138,000,000 |
| Cash from Financing Activities | -$672,000,000 |
| Dividends Paid | $58,000,000 |
| Free Cash Flow | $3,469,000,000 |
Assets
| Line | Amount |
|---|---|
| Cash & Cash Equivalents | $193,000,000 |
| Restricted Cash | $15,000,000 |
| Short-term Investments | $1,978,000,000 |
| Plant, Property & Equipment, Net | $922,000,000 |
| Operating Lease Right-of-Use Assets | $199,000,000 |
| Total Assets | $124,925,000,000 |
Liabilities and equity
| Line | Amount |
|---|---|
| Operating Lease Liabilities, Long-term | $205,000,000 |
| Total Liabilities | $90,592,000,000 |
| Retained Earnings | $32,261,000,000 |
| Other Accumulated Comprehensive Income | -$847,000,000 |
| Total Stockholders Equity | $34,333,000,000 |
| Total Liability & Stockholders Equity | $124,925,000,000 |
Figures as filed with the SEC for the period ended 30 June 2026, in US dollars.
FundSpec fundamental metrics
Each metric is computed from the company's filings and ranked against every company FundSpec covers; the percentile is the share of covered companies with a lower value.
Leverage
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Debt/Assets | 0.07 | 53rd | Calculated as the ratio of Short-Term Debt + Long-Term Debt / Total Assets. The higher the ratio, the higher the degree of leverage, and consequently, financial risk |
| Debt/Equity | 0.24 | 51st | Calculated as the ratio of Total Liabilities / Shareholders' Equity. The ratio indicates how much debt a company is using to finance its assets relative to the amount of value represented in shareholders’ equity |
| Degree of Financial Leverage | 1.02 | 57th | Calculated as the ratio of Percentage change in EPS / Percentage change in EBIT. A higher degree of financial leverage means that the company has more volatile EPS. |
| Long Term Debt/Long Term Capital | 0.00 | 2nd | Calculated as Long-Term Debt / (Long-Term Debt + Shareholders' Equity). The ratio is an indicator of the company's leverage |
Profitability
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Free Cashflow Margin Pct | 17.5% | 79th | Calculated as the ratio of Free Cashflow from Operating Activities / Net Sales. It measures how much per dollar of revenue the company is able to convert into free cash flow. |
| Operating Margin Pct | 16.6% | 76th | Calculated as the ratio of (Revenue - (Cost of Goods Sold + Labour + Sales, General & Administrative)) / Revenue. Operating margins are important because they measure efficiency. The higher the operating margin, the more profitable a company's core business is. |
| PreTax Margin Pct | 16.2% | 73rd | Calculated as the ratio of (Gross profit - (Operating Expense + Interest Expense)) / Revenue. The pretax profit margin enables profitability to be compared across companies with significant differences in size, scale, capital structure and tax rates. |
| Return on Assets Pct | 9.7% | 90th | Calculated as the ratio of Net Income / Total Assets. It is an indicator of how efficient the company is at using its assets to generate earnings. |
| Return on Equity Pct | 34.9% | 93rd | Calculated as the ratio of Net Income / Shareholders' equity. It is a measure of how much profit a company generates with the money shareholders have invested. |
| Return on Invested Capital Pct | 28.5% | 94th | Calculated as the ratio of (Net Income - Dividends) / (Debt + Equity). It is a measure of how efficient the company is at allocating the capital under its control to profitable investments. |
Cashflow
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| FCF Pct Growth | -3.2% | 40th | The Free Cash Flow growth rate over the trailing twelve months (TTM) |
| FCF Pct Growth 3 year CAGR | 114.0% | 78th | The Free Cash Flow compound annual growth rate (CAGR) over the past 3 years |
| FCF Pct Growth 5 year CAGR | 105.7% | 69th | The Free Cash Flow compound annual growth rate (CAGR) over the past 5 years |
| FCF Return on Assets Pct | 13.3% | 90th | Calculated as the ratio of Cashflow from Operations / Total Assets. A high cash return on assets means a company is generating more cash flow from every asset dollar |
| Operating Cashflow Pct Growth | -2.7% | 41st | The Operating Cashflow growth rate over the trailing twelve months (TTM) |
| Operating Cashflow Pct Growth 3 year CAGR (FY) | 28.3% | 81st | The Operating Cashflow compound annual growth rate (CAGR) over the past 3 years |
| Operating Cashflow Pct Growth 5 year CAGR (FY) | 15.5% | 77th | The Operating Cashflow compound annual growth rate (CAGR) over the past 5 years |
Earnings Growth (Net Income)
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Net Income Pct Growth | 12.1% | 52nd | The Net Income growth rate over the trailing twelve months (TTM) |
| Net Income Pct Growth 3 year CAGR | 88.6% | 98th | The Net Income compound annual growth rate (CAGR) over the past 3 years |
| Net Income Pct Growth 5 year CAGR | 16.3% | 76th | The Net Income compound annual growth rate (CAGR) over the past 5 years |
Top Line Growth
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Revenue Pct Growth | 10.5% | 62nd | The Revenue (Sales) growth rate over the trailing twelve months (TTM) |
| Revenue Pct Growth 3 year CAGR | 17.7% | 80th | The Revenue (Sales) compound annual growth rate (CAGR) over the past 3 years |
| Revenue Pct Growth 5 year CAGR | 14.8% | 73rd | The Revenue (Sales) compound annual growth rate (CAGR) over the past 5 years |
Taxes
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Effective Tax Rate Pct | 20.9% | 69th | The effective tax rate of the company over the trailing twelve months (TTM). |
Margins and returns say how much of each dollar of sales becomes profit and how hard the balance sheet is working; leverage and liquidity say how much room the company has when conditions turn. Read the guide: A practical guide to discounted cash flow valuation.
Fair value, peer multiples and the full statement history are in the app: open PGR in FundSpec.
Insider activity
In the last 90 days insiders filed 67 transactions: 39 acquisitions covering 251,827 shares and 28 disposals covering 232,245 shares. Acquisitions include awards and option exercises as well as open market purchases. The largest by value was a disposal of 58,919 shares by Susan Patricia Griffith, Director, President and CEO on 24 July 2026, worth about $12.5 million at the transaction price.
| Date | Insider | Title | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| 1 Sep 2026 | Susan Patricia Griffith | Director, President and CEO | Disposal | 37,338 | $219.50 | $8.2M |
| 1 Sep 2026 | Susan Patricia Griffith | Director, President and CEO | Disposal | 1,598 | ||
| 20 Aug 2026 | Steven Broz | Chief Information Officer | Disposal | 1,225 | $219.40 | $269K |
| 13 Aug 2026 | Lori A Niederst | Chief Personal Lines Officer | Disposal | 7,339 | $209.29 | $1.5M |
| 28 Jul 2026 | Andrew J Quigg | VP and Chief Financial Officer | Disposal | 3,499 | $220.00 | $770K |
| 27 Jul 2026 | Susan Patricia Griffith | Director, President and CEO | Disposal | 37,338 | $212.71 | $7.9M |
| 27 Jul 2026 | Karen Bailo | Commercial Lines President | Disposal | 8,452 | $212.71 | $1.8M |
| 27 Jul 2026 | John Jo Murphy | Claims President | Disposal | 8,124 | $212.70 | $1.7M |
| 27 Jul 2026 | Jonathan S. Bauer | Chief Investment Officer | Disposal | 2,242 | $212.71 | $477K |
| 24 Jul 2026 | Susan Patricia Griffith | Director, President and CEO | Disposal | 58,919 | $211.90 | $12.5M |
| 24 Jul 2026 | Patrick K Callahan | Personal Lines President | Disposal | 12,578 | $211.90 | $2.7M |
| 24 Jul 2026 | Karen Bailo | Commercial Lines President | Disposal | 6,578 | $211.90 | $1.4M |
| 24 Jul 2026 | John Jo Murphy | Claims President | Disposal | 6,404 | $211.90 | $1.4M |
| 24 Jul 2026 | Lori A Niederst | Chief Personal Lines Officer | Disposal | 5,812 | $211.90 | $1.2M |
| 24 Jul 2026 | Andrew J Quigg | VP and Chief Financial Officer | Disposal | 5,526 | $211.90 | $1.2M |
Insider filings record what officers and directors did with their own shares. Disposals are often planned sales or tax related, so a pattern across several insiders says more than one filing.
SEC filings
The latest filing is a 10-Q from 3 August 2026.
| Filed | Form | Document |
|---|---|---|
| 3 Aug 2026 | 10-Q | View on sec.gov |
| 4 May 2026 | 10-Q | View on sec.gov |
| 2 Mar 2026 | 10-K | View on sec.gov |
| 3 Nov 2025 | 10-Q | View on sec.gov |
| 4 Aug 2025 | 10-Q | View on sec.gov |
| 5 May 2025 | 10-Q | View on sec.gov |
| 3 Mar 2025 | 10-K | View on sec.gov |
| 4 Nov 2024 | 10-Q | View on sec.gov |
| 5 Aug 2024 | 10-Q | View on sec.gov |
| 6 May 2024 | 10-Q | View on sec.gov |
Company profile
- Exchange
- NYSE
- Sector
- Insurance Carriers
- Industry
- Insurance
- Headquarters
- MAYFIELD VILLAGE, Ohio
- Chief executive
- Susan P. Griffith
- Employees
- 55,100
- Website
- progressive.com
- SEC CIK
- 0000080661
Progressive Corporation provides personal and commercial auto, residential and commercial property, general liability, and other specialty property-casualty insurance products. It operates in three segments: Personal Lines, Commercial Lines, and Property. The Property segment writes residential property insurance for homeowners, other property owners, and renters. The Progressive Corporation was founded in 1937 and is headquartered in Mayfield, Ohio.
Sector and peers
Progressive Corp/Oh/ is part of the Insurance Carriers sector, which FundSpec tracks across 88 companies.
Companies in the same industry by market capitalization:
CB Chubb LtdTRV Travelers Companies, Inc.ALL Allstate Corp.AIG American International Group, Inc.HIG Hartford Insurance Group, Inc.ACGL Arch Capital Group Ltd.
Put two of them side by side in Compare.
In FundSpec: the fair value estimate, the momentum reading, relative valuation against sector and industry peers, unusual options activity and AI model signals for PGR are available to subscribers, with the same screen in the iOS and Android apps.
Open PGR in FundSpec