PGR

The Progressive Corporation

Fundamental data last updated:June 12, 2026

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company profile

SECTOR

Financial Services

industry

Insurance - Property & Casualty

Exchange

NYSE

County of HQ

US

Next Earnings Date

07/15/2026

Business Summary

The Progressive Corporation, an insurance holding company, offers a comprehensive range of insurance products and associated services across the United States. Its portfolio includes personal and commercial vehicle coverage, residential and commercial property protection, general liability, and various other specialized property-casualty insurance options. The company's operations are structured into three main divisions: Personal Lines, Commercial Lines, and Property. Within the Personal Lines segment, Progressive provides coverage for individual automobiles and recreational vehicles. Offerings range from standard personal auto policies to specialized options for motorcycles, all-terrain vehicles (ATVs), RVs, watercraft, snowmobiles, and similar forms of personal transport. The Commercial Lines division focuses on providing primary liability and physical damage insurance for business vehicles, alongside general liability and property insurance tailored for commercial applications. This segment insures a diverse array of vehicles, including cars, vans, pickup trucks, and dump trucks for small businesses; tractors, trailers, and straight trucks for regional freight, expedited shipping, and long-haul transport companies; heavy-duty vehicles like dump trucks, log trucks, and garbage trucks used in industries such as construction, logging, and mining; and tow trucks and wreckers for towing and service stations, as well as various non-fleet taxis and premium car services. The Property segment offers residential insurance solutions for homeowners, other property owners, and renters. Its portfolio further extends to include personal umbrella policies and both primary and excess flood insurance. Beyond underwriting, the company facilitates policy issuance and claims adjusting. It also serves as an agent for various additional insurance products, such as homeowner general liability and workers' compensation, and provides reinsurance services. Progressive's products are distributed through independent insurance agencies, as well as directly to consumers via its online platforms (including mobile access) and telephone channels. Established in 1937, The Progressive Corporation maintains its headquarters in Mayfield, Ohio.

 


VALUATION

P/E

10.25

Market Cap ($M USD)

$118.19B

Forward P/E

12.65

PEG

-0.67

PRICE TO SALES

1.32

PRICE TO BOOK

3.70

EV / EBITDA

8.39

5-Year Average P/E

Free Cash Flow Yield

13.89%

DCF Value

$396.17

Graham Number

$155.88

Price to FCF

7.20

EV to FCF

7.70

Earnings Yield

9.76%

FCF Yield

13.89%

DIVIDEND

Yield

6.87%

Annual Payout

$13.90

Payout Ratio

70.49%

Consecutive Years of Dividend Growth

5-Year Dividend Growth Rate

Financial Health & Profitability

Earnings Per Share

$19.74

Next Year EPS Growth Estimate

$15.99

Next Year Revenue Growth Estimate

$9.94T

Return on Equity (ROE)

35.45%

FREE CASH FLOW

Operating Margin

16.27%

Debt-to-Equity

0.23

Piotroski F-Score

7

Altman Z-Score

1.64

Return on Invested Capital (ROIC)

36.00%

Current Ratio

0.25

Quick Ratio

0.25

Net Debt to EBITDA

0.55

Interest Coverage

52.35

Gross Profit margin

28.44%

FCF PER SHARE

$28.04

REVENUE PER SHARE

$152.71

Gainseekers Quantitative Analysis

Summary

The Progressive Corporation’s valuation presents a compelling case of market mispricing. With a DCF value significantly higher than its snapshot price, the stock appears undervalued. The Forward P/E ratio suggests a cautious growth outlook, yet the robust Earnings Yield indicates potential for strong returns. However, the Altman Z-score raises concerns about financial stability, hinting at moderate distress risk. Overall, the market seems to be underestimating its intrinsic value, offering a potential opportunity for savvy investors.

AI Exposure / Tech Reliance

In the insurance industry, Progressive is well-positioned to leverage AI and tech advancements. The sector's reliance on data analytics for risk assessment and customer engagement aligns with AI capabilities. This adaptability could enhance operational efficiency and customer satisfaction, securing its competitive edge.

The Bull Case

For value and GARP investors, Progressive shines with its impressive ROIC of 36%, indicating exceptional capital efficiency. The FCF Yield, though modest, complements a strong Piotroski F-Score of 7, signaling solid financial health. Its operating margin of 16.27% underscores pricing power, while a low Debt/Equity ratio enhances financial flexibility. These metrics paint a picture of a company adept at generating and reinvesting cash effectively.

The Bear Case

Despite its strengths, Progressive faces structural risks. The Price/Book ratio of 3.58 and Price/Sales of 1.28 suggest it may be overvalued relative to tangible assets and revenue. The Altman Z-score further highlights potential financial distress, and the stock's proximity to its 52-week high indicates technical overextension. These factors could deter risk-averse investors wary of paying a premium for growth.

Market Sentiment & Smart Money

Short Interest %

Analyst Consensus

Hold

Average Analyst Price Target

$228.33

Institutional Ownership %

1-Year Beta

0.27

Insider Buying % (6 Mo)

Distance to 52-Week High

33.41%

Distance to 52-Week Low

6.46%

EARNINGS SURPRISE %

2.27%

50-DAY SMA

$198.98

200-DAY SMA

$215.78

⚠️ Financial Disclaimer:
This content is for informational purposes only and is not financial advice. Information may be delayed or inaccurate. We may earn a commission from partner links.