PGR Progressive PE ratio, current and historical analysis
As of Jun 11, 2025, the Progressive stock's PE ratio is 17.7. This results from the current EPS of $14.87 and stock price of $263.22. The current PE ratio is nearly equal to the average from the previous 4 quarters.
PGR PE ratio history
The PE ratio of Progressive has averaged 25.01 over the last ten years. The current PE ratio of 17.7 is 29% below the historical average. Over the past ten years, PGR's PE ratio was at its highest in the Dec 2022 quarter at 109, when the stock price was $129.71 and the EPS was $1.19. The lowest value was in the Mar 2021 quarter, when it reached 8.66 with a price of $95.61 and an EPS of $11.04.
Progressive PE ratio history chart
Progressive PE ratio by year
Maximum annual increase: 504.21% in 2022
Maximum annual decrease: -77.89% in 2023
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| 2024 | 16.58 | -31.2% | $239.61 | $14.45 |
| 2023 | 24.1 | -77.89% | $159.28 | $6.61 |
| 2022 | 109 | 504.21% | $129.71 | $1.19 |
| 2021 | 18.04 | 77.21% | $102.65 | $5.69 |
| 2020 | 10.18 | -5.04% | $98.88 | $9.71 |
| 2019 | 10.72 | -20.94% | $72.39 | $6.75 |
| 2018 | 13.56 | -34.01% | $60.33 | $4.45 |
| 2017 | 20.55 | 2.44% | $56.32 | $2.74 |
| 2016 | 20.06 | 36.28% | $35.5 | $1.77 |
| 2015 | 14.72 | 18.33% | $31.8 | $2.16 |
| 2014 | 12.44 | -11.02% | $26.99 | $2.17 |
| 2013 | 13.98 | -0.64% | $27.27 | $1.95 |
| 2012 | 14.07 | 16.09% | $21.1 | $1.5 |
| 2011 | 12.12 | -1.22% | $19.51 | $1.61 |
| 2010 | 12.27 | 8.49% | $19.87 | $1.62 |
Progressive PE ratio by quarter (TTM)
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| Mar 2025 | 19.03 | 14.78% | $283.01 | $14.87 |
| Dec 2024 | 16.58 | -9.84% | $239.61 | $14.45 |
| Sep 2024 | 18.39 | 3.78% | $253.76 | $13.8 |
| Jun 2024 | 17.72 | -16.02% | $207.71 | $11.72 |
| Mar 2024 | 21.1 | -12.45% | $206.82 | $9.8 |
| Dec 2023 | 24.1 | -20.07% | $159.28 | $6.61 |
| Sep 2023 | 30.15 | -33.49% | $139.3 | $4.62 |
| Jun 2023 | 45.33 | -55.32% | $132.37 | $2.92 |
| Mar 2023 | 101.46 | -6.92% | $143.06 | $1.41 |
| Dec 2022 | 109 | 34.12% | $129.71 | $1.19 |
| Sep 2022 | 81.27 | -0.74% | $116.21 | $1.43 |
| Jun 2022 | 81.88 | 165.76% | $116.27 | $1.42 |
| Mar 2022 | 30.81 | 70.79% | $113.99 | $3.7 |
| Dec 2021 | 18.04 | 38.13% | $102.65 | $5.69 |
| Sep 2021 | 13.06 | 24.03% | $90.39 | $6.92 |
PGR Price vs fair value
You can ether set your own Fair P/E multiple or use one of the automatically calculated Fair P/E multiples.
Fair P/E calculation
PE Ratio is an attempt to estimate a fair PE ratio of a stock based on its earnings and growth rate.
This formula is a modified version of the classic Graham-Dodd Formula (V= EPS x (8.5+2g)), originally developed by Benjamin Graham, to calculate the fair price of a stock based on its earnings and growth rate.
The formula we have created is an adaptation of this approach, designed to maintain a balance between simplicity and growth sensitivity.
It is calculated using the following formula:
IF g < 5: Fair PE = b
IF g >= 5: Fair PE = m × g
Here’s what each part of the formula means:
g: Growth is calculated as the average of the three-year average EPS growth rate and the one-year EPS growth rate (annually). This approach provides a balanced measure of growth by factoring in both the long-term growth trend and the most recent annual growth performance. If one of the growth metrics is not available, the remaining metric is used to determine growth. The fair P/E value is capped at 100 to prevent distortions caused by extreme EPS growth rates, such as those resulting from large percentage increases from a low base.
m: This is the long term historical median PEG (Price/Earnings to Growth) ratio of the overall market. It serves as a benchmark, adjusting the Fair PE based on typical market conditions.
b: Base PE (static value set to 8). If the company's growth rate is less than 5, the Fair PE is set at a conservative baseline of 8. This is because declining companies generally deserve a lower PE ratio.
Fixed vs Dynamic
Fixed: The Fair PE ratio for all data points is calculated using a single, constant average EPS growth rate, determined based on the most recent period. This means that the same growth rate is applied to all historical data points. Dynamic: The Fair PE ratio for each historical data point is calculated using the trailing average EPS growth rate specific to that point in time. This means that for each data point, the corresponding trailing EPS growth rate is used, ensuring that the Fair PE ratio reflects the growth conditions that were relevant at that specific point in history.
PGR average PE ratio chart
PGR's current P/E ratio is below the 3, 5 and 10-year averages.
PE vs average
PGR PE vs peers
PGR's PE ratio is lower than its peer stock SIGI, but it is greater than TRV's and ALL's. Progressive's current PE ratio of 17.7 is above the average of its peers, which is 15.75.
| Stock name | PE ratio | Market cap |
|---|---|---|
| MCY Mercury General Corp | 12.57 | $3.59B |
| ALL Allstate Corp | 13.32 | $52.33B |
| TRV Travelers Companies Inc | 14.11 | $59.56B |
| HMN Horace Mann Educators Corp | 15.4 | $1.75B |
| SAFT Safety Insurance Group Inc | 16.19 | $1.18B |
| PGR Progressive Corp | 17.86 | $155.73B |
| SIGI Selective Insurance Group Inc | 23.15 | $5.21B |
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Frequently asked questions
What is Progressive's PE ratio?
The price to earnings ratio for PGR stock as of Jun 11, 2025, stands at 17.7.
What is the 3-year average PE ratio for Progressive (PGR)?
The average PE ratio for PGR stock over the past 3 years is 47.17.
What is the 5-year average PE ratio for Progressive (PGR)?
The average PE ratio for PGR stock over the past 5 years is 33.95.
What is the highest PE ratio for PGR?
The highest quarterly PE ratio in the last ten years has been 109 and it was in the Dec 2022 quarter.
How does the current PE ratio for PGR compare to its historical average?
PGR's price to earnings ratio is currently 29% below its 10-year historical average.
How is PGR's PE ratio calculated (Progressive PE ratio formula)?
You can calculate the PE ratio by dividing the most recent stock price by the trailing twelve months EPS. As of today (Jun 11, 2025), Progressive's stock price is $263.22. The earnings per share for the trailing twelve months (TTM) ending Mar 2025 is $14.87. Therefore, Progressive's P/E ratio for today is 17.7. PE RATIO(17.7) = STOCK PRICE($263.22) / TTM EPS($14.87)
All PE ratio stats are based on quarterly TTM periods, unless otherwise specified.