📊 PGR Key Takeaways
Is Progressive Corp./Oh/ (PGR) a Good Investment?
Progressive demonstrates solid fundamentals with strong free cash flow generation (4.3B, 19.4% FCF margin) and excellent leverage metrics (0.22x debt/equity, 50.9x interest coverage). However, the disconnect between extraordinary revenue growth (+2346.9% YoY) and flat net income growth (+0.0% YoY) signals operational challenges or accounting adjustments requiring scrutiny, while the critically low cash position (162M for a 122.2B asset company) raises concerns about financial flexibility and capital allocation strategy.
Progressive shows very strong core fundamentals, with high operating profitability, exceptional ROE, strong free cash flow generation, and conservative leverage for an insurer. Financial health appears solid given $30.32B of equity, strong interest coverage, and modest debt-to-equity, though the extreme reported revenue growth and flat net income suggest investors should focus more on underwriting discipline, reserve adequacy, and earnings quality than top-line growth alone.
Progressive Corp./Oh/ Key Strengths (PGR)
- Exceptional free cash flow generation of 4.3B with 19.4% FCF margin indicates high-quality, sustainable earnings
- Fortress balance sheet with debt/equity ratio of 0.22x and interest coverage of 50.9x provides significant financial stability
- Solid profitability with 16.1% operating margin and 12.7% net margin demonstrates operational efficiency in insurance underwriting
- Strong profitability with 16.2% operating margin, 12.9% net margin, and 37.3% ROE
- Excellent cash generation with $17.55B operating cash flow and $17.20B free cash flow
- Healthy balance sheet supported by modest 0.23x debt-to-equity and 51.2x interest coverage
PGR Stock Risks: Progressive Corp./Oh/ Investment Risks
- Revenue growth of 2346.9% YoY coupled with 0.0% net income growth suggests either one-time accounting adjustments or concerning margin compression in core operations
- Cash position of only 162M relative to 122.2B total assets is dangerously low and constrains operational flexibility and capital returns
- Modest ROE of 8.8% indicates suboptimal returns on shareholder capital; elevated liabilities typical in insurance create leverage risk if underwriting deteriorates
- Reported revenue growth of +2346.9% appears unusual and may reflect classification effects or lower comparability, reducing headline growth quality
- Insurance earnings can be volatile due to catastrophe losses, reserve development, and claims severity trends
- Very low reported cash balance relative to total assets means liquidity must be judged through the broader investment portfolio and liability structure, not cash alone
Key Metrics to Watch
- Underwriting profitability and loss ratios trend (critical for insurance company sustainability)
- Cash position and capital adequacy ratios relative to regulatory minimums
- Year-over-year net income growth to determine if flat growth persists or reflects transitory factors
- Combined ratio and underwriting margin trend
- Reserve development and book value growth
Progressive Corp./Oh/ (PGR) Financial Metrics & Key Ratios
💡 AI Analyst Insight
The current ratio below 1.0x warrants monitoring of short-term liquidity.
PGR Profit Margin, ROE & Profitability Analysis
PGR vs Finance Sector: How Progressive Corp./Oh/ Compares
How Progressive Corp./Oh/ compares to Finance sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is Progressive Corp./Oh/ Stock Overvalued? PGR Valuation Analysis 2026
Based on fundamental analysis, Progressive Corp./Oh/ has mixed fundamental signals relative to the Finance sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
Progressive Corp./Oh/ Balance Sheet: PGR Debt, Cash & Liquidity
PGR Revenue & Earnings Growth: 5-Year Financial Trend
5-Year Trend Summary: Progressive Corp./Oh/'s revenue has grown significantly by 84% over the 5-year period, indicating strong business expansion. The most recent EPS of $6.58 reflects profitable operations.
PGR Revenue Growth, EPS Growth & YoY Performance
PGR Quarterly Earnings & Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q1 2026 | $20.4B | $2.6B | $4.37 |
| Q3 2025 | $19.7B | $2.3B | $3.97 |
| Q2 2025 | $18.1B | $1.5B | $2.48 |
| Q1 2025 | $17.2B | $2.3B | $3.94 |
| Q3 2024 | $15.6B | $1.1B | $1.89 |
| Q2 2024 | $15.4B | $345.4M | $0.57 |
| Q1 2024 | $14.3B | $447.9M | $0.75 |
| Q3 2023 | $12.8B | -$104.9M | $0.20 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
Progressive Corp./Oh/ Dividends, Buybacks & Capital Allocation
PGR SEC Filings: Latest 10-K & 10-Q Analysis
Access official SEC EDGAR filings for Progressive Corp./Oh/ (CIK: 0000080661)
📋 Recent SEC Filings
❓ Frequently Asked Questions about PGR
What is the AI rating for PGR?
Progressive Corp./Oh/ (PGR) has a Combined AI Grade of A from Claude (B) and ChatGPT (A) with 74% combined confidence, based on fundamental analysis of SEC EDGAR filings.
What are PGR's key strengths?
Claude: Exceptional free cash flow generation of 4.3B with 19.4% FCF margin indicates high-quality, sustainable earnings. Fortress balance sheet with debt/equity ratio of 0.22x and interest coverage of 50.9x provides significant financial stability. ChatGPT: Strong profitability with 16.2% operating margin, 12.9% net margin, and 37.3% ROE. Excellent cash generation with $17.55B operating cash flow and $17.20B free cash flow.
What are the risks of investing in PGR?
Claude: Revenue growth of 2346.9% YoY coupled with 0.0% net income growth suggests either one-time accounting adjustments or concerning margin compression in core operations. Cash position of only 162M relative to 122.2B total assets is dangerously low and constrains operational flexibility and capital returns. ChatGPT: Reported revenue growth of +2346.9% appears unusual and may reflect classification effects or lower comparability, reducing headline growth quality. Insurance earnings can be volatile due to catastrophe losses, reserve development, and claims severity trends.
What is PGR's revenue and growth?
Progressive Corp./Oh/ reported revenue of $22.2B.
Does PGR pay dividends?
Progressive Corp./Oh/ pays dividends, with $7,972.0M distributed to shareholders in the trailing twelve months.
Where can I find PGR SEC filings?
Official SEC filings for Progressive Corp./Oh/ (CIK: 0000080661) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is PGR's EPS?
Progressive Corp./Oh/ has a diluted EPS of $4.80.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined grade reflects both perspectives for balanced insights.
What is PGR's fundamental grade?
Based on our AI fundamental analysis in June 2026, Progressive Corp./Oh/ has a A grade with 74% confidence. The AI analysis suggests favorable fundamentals based on SEC filings. This is not investment advice.
Is PGR stock overvalued or undervalued?
Valuation metrics for PGR: ROE of 8.8% (sector avg: 12%), net margin of 12.7% (sector avg: 25%). Compare these metrics with sector averages to assess valuation.
What is PGR's AI grade for 2026?
Our dual AI analysis gives Progressive Corp./Oh/ a combined A grade for 2026. Revenue is data pending, with profitability at or below sector average. Always conduct your own research.
What is PGR's free cash flow?
Progressive Corp./Oh/'s operating cash flow is $4.4B, with capital expenditures of $63.0M. FCF margin is 19.4%.
How does PGR compare to other Finance stocks?
Vs Finance sector averages: Net margin 12.7% (avg: 25%), ROE 8.8% (avg: 12%), current ratio N/A (avg: 1.2).