Progressive Corp. is an insurance holding company, which engages in the provision of personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services. It operates through the following segments: Personal Lines, Commercial Lines and Property. The Personal Lines segment includes agency and direct businesses. The Commercial Lines segment writes primary liability and physical damage insurance for automobiles and trucks owned and operated predominately by small business in the auto, for-hire transportation, contractor, for-hire specialty, tow, and for-hire livery markets. The Property segment covers residential property insurance for homeowners, other property owners, and renters. The company was founded in 1965 and is headquartered in Mayfield Village, OH.
Highlights
The net income is up by 35% year-on-year and by 23% since the previous quarter
The EPS has grown by 35% YoY and by 23% from the previous quarter
Progressive's debt has increased by 22% YoY
Key stats
What are the main financial stats of PGR
Market
Shares outstanding
585.4M
Market cap
$52.46B
Enterprise value
$57.74B
Valuations
Price to earnings (P/E)
12
Price to book (P/B)
3.15
Price to sales (P/S)
1.29
EV/EBIT
10.17
EV/EBITDA
9.63
EV/Sales
1.42
Earnings
Revenue
$40.57B
EBIT
$5.68B
EBITDA
$5.99B
Free cash flow
$6.53B
Per share
EPS
$7.47
Free cash flow per share
$11.16
Book value per share
$28.48
Revenue per share
$69.37
TBVPS
$100.47
Balance sheet
Total assets
$59.41B
Total liabilities
$42.74B
Debt
$5.39B
Equity
$16.67B
Working capital
N/A
Liquidity
Debt to equity
0.32
Current ratio
N/A
Quick ratio
N/A
Net debt/EBITDA
0.88
Margins
EBITDA margin
14.8%
Gross margin
35.7%
Net margin
10.8%
Operating margin
14%
Efficiency
Return on assets
7.8%
Return on equity
29.7%
Return on invested capital
9.4%
Return on capital employed
N/A
Return on sales
14%
Dividend
Dividend yield
0.44%
DPS
$0.4
Payout ratio
5.4%
PGR stock price
How has the Progressive stock price performed over time
Financial performance
How have Progressive's revenue and profit performed over time
Revenue
$40.57B
Gross profit
$14.48B
Operating income
$5.69B
Net income
$4.4B
Gross margin
35.7%
Net margin
10.8%
The net income is up by 35% year-on-year and by 23% since the previous quarter
Progressive's operating income has increased by 30% YoY and by 22% from the previous quarter
The company's gross profit rose by 22% YoY and by 10% QoQ
PGR's operating margin is up by 18% since the previous quarter and by 13% year-on-year
Valuation
What is Progressive stock price valuation
P/E
12
P/B
3.15
P/S
1.29
EV/EBIT
10.17
EV/EBITDA
9.63
EV/Sales
1.42
The EPS has grown by 35% YoY and by 23% from the previous quarter
PGR's P/E is 25% below its 5-year quarterly average of 16.0
The equity rose by 25% YoY and by 16% QoQ
The P/B is 5% above the 5-year quarterly average of 3.0 and 5% above the last 4 quarters average of 3.0
PGR's P/S is 17% above its 5-year quarterly average of 1.1 and 17% above its last 4 quarters average of 1.1
Progressive's revenue has increased by 15% YoY and by 3.9% QoQ
Efficiency
How efficient is Progressive business performance
The ROA has grown by 18% from the previous quarter and by 16% YoY
The ROS has grown by 18% from the previous quarter and by 13% YoY
The ROIC has grown by 18% from the previous quarter and by 11% YoY
PGR's return on equity is up by 16% since the previous quarter and by 11% year-on-year
Dividends
What is PGR's dividend
DPS
$0.4
Dividend yield
0.44%
Payout ratio
5.4%
Financial health
How did Progressive financials performed over time
The total assets is 39% more than the total liabilities
The total assets has grown by 16% YoY and by 6% from the previous quarter
PGR's total liabilities is up by 13% year-on-year and by 2.5% since the previous quarter
Progressive's debt is 68% less than its equity
The equity rose by 25% YoY and by 16% QoQ
PGR's debt to equity is down by 16% since the previous quarter and by 3% year-on-year
All financial data is based on trailing twelve months (TTM) periods - updated
quarterly, unless otherwise specified.