Revenue
$87.67B
Fiscal year ended 2025-12-31Net income
$11.31B
Fiscal year ended 2025-12-31Total assets
$123.04B
Fiscal year ended 2025-12-31PROGRESSIVE CORP/OH/ (PGR) reported revenue of $87.67B and net income of $11.31B for the fiscal year ended 2025-12-31. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from PROGRESSIVE CORP/OH/’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Fire, Marine & Casualty Insurance.
Banks, brokers and insurers present a top line that is not comparable with an operating company’s revenue: it is reported net of interest expense, or as premiums earned, depending on the filer. The figures are the filer’s own and are traceable to the filing; the comparison across classes is what does not hold.
Income
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $87.67B | $75.37B | $62.11B | $49.61B | $47.70B | $42.66B | $39.02B | $31.98B | $26.84B | $23.44B |
| Cost of revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross profit | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating income | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Net income | $11.31B | $8.48B | $3.90B | $722.00M | $3.35B | $5.70B | $3.97B | $2.62B | $1.59B | $1.03B |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Weighted-average diluted shares | shares 588.10M | shares 587.70M | shares 587.50M | shares 587.10M | shares 587.10M | shares 587.60M | shares 587.20M | shares 586.70M | shares 585.70M | shares 585.00M |
| Pretax income | $14.22B | $10.71B | $4.90B | $922.00M | $4.21B | $7.17B | $5.16B | $3.16B | $2.14B | $1.47B |
| Income tax expense | $2.92B | $2.23B | $1.00B | $200.00M | $859.10M | $1.47B | $1.18B | $542.60M | $540.80M | $413.50M |
| Diluted EPS | $19.23 | $14.40 | $6.58 | $1.18 | $5.66 | $9.66 | $6.72 | $4.42 | $2.72 | $1.76 |
| Selling, general & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| General & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total assets | $123.04B | $105.74B | $88.69B | $75.46B | $71.13B | $64.10B | $54.91B | $46.58B | $38.70B | $33.43B |
| Current assets | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total liabilities | $92.72B | $80.15B | $68.41B | $59.57B | $52.90B | $47.06B | $41.01B | $35.54B | $28.91B | $24.99B |
| Current liabilities | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total equity incl. NCI | $30.32B | $25.59B | $20.28B | $15.89B | $18.23B | $17.04B | $13.67B | $10.82B | $9.28B | $7.96B |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | $0 | $0 | $225.60M | $214.50M | $503.70M | $483.70M |
| Inventory | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts receivable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Goodwill | Unavailable | $228.00M | $228.00M | $227.90M | $452.70M | $452.70M | $452.70M | $452.70M | $452.70M | $449.40M |
| Long-term debt | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts payable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Cash flow
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $17.55B | $15.12B | $10.64B | $6.85B | $7.76B | $6.91B | $6.26B | $6.28B | $3.76B | $2.73B |
| Capital expenditures | $348.00M | $285.00M | $252.00M | $292.00M | $243.50M | $223.50M | $363.50M | $266.00M | $155.70M | $215.00M |
| Investing cash flow | -$14.53B | -$13.75B | -$10.84B | -$7.96B | -$3.12B | -$6.12B | -$4.34B | -$7.03B | -$3.41B | -$2.48B |
| Financing cash flow | -$3.04B | -$1.32B | $78.00M | $1.13B | -$4.52B | -$938.80M | -$1.77B | $549.80M | -$300.90M | -$250.40M |
| Net change in cash | -$16.00M | $54.00M | -$121.00M | $19.00M | $125.60M | -$150.90M | $152.40M | -$200.30M | $48.90M | $2.00M |
| Stock-based compensation | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Common dividends paid | $2.87B | $674.00M | $234.00M | $234.00M | $3.75B | $1.55B | $1.64B | $654.90M | $395.40M | $519.00M |
| Common share repurchases | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | $192.50M |
| Depreciation & amortization | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Derived
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | $17.20B | $14.83B | $10.39B | $6.56B | $7.52B | $6.68B | $5.90B | $6.02B | $3.60B | $2.52B |
| Gross margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| FCF margin | 19.6% | 19.7% | 16.7% | 13.2% | 15.8% | 15.7% | 15.1% | 18.8% | 13.4% | 10.7% |
| SBC / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Current ratio | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Revenue YoY growth | 16.3% | 21.4% | 25.2% | 4.0% | 11.8% | 9.3% | 22.0% | 19.2% | 14.5% | Unavailable |
| Net margin | 12.9% | 11.3% | 6.3% | 1.5% | 7.0% | 13.4% | 10.2% | 8.2% | 5.9% | 4.4% |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| CapEx / revenue | 0.4% | 0.4% | 0.4% | 0.6% | 0.5% | 0.5% | 0.9% | 0.8% | 0.6% | 0.9% |
| Long-term debt / equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | 20.5% | 20.8% | 20.4% | 21.7% | 20.4% | 20.5% | 22.9% | 17.2% | 25.3% | 28.1% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open PGR in the interactive workspace to inspect any figure back to its filing.
Source filings
10-Q · Filed 2026-08-03View SEC filing
10-Q · Filed 2026-05-04View SEC filing
10-K · Filed 2026-03-02View SEC filing
10-Q · Filed 2025-11-03View SEC filing
10-Q · Filed 2025-08-04View SEC filing
10-Q · Filed 2025-05-05View SEC filing
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.