PGR
$221.38-0.25%
as of close, Oct 21, 2026
☾ AH $221.38 -0.25%
PGR financial statements
The full income statement, balance sheet, and cash-flow statement for Progressive Corporation (PGR), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 585.7M2024-09 585.8M2024-12 586.2M2025-03 586.2M2025-06 586.2M2025-09 586.4M2025-12 585.9M2026-03 584.3M2026-06 581.4M-0.7% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
PeriodRangeOrderChangeFiguresAs-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 87.7B+16.3% | 75.4B+21.4% | 62.1B+25.2% | 49.6B+4.0% | 47.7B+11.8% | |
| Amortization of intangibles | — | — | 14.2M-54.2% | 31.0M-46.3% | 57.7M+1.4% | |
| Interest expense | 278M-0.4% | 279M+4.1% | 268M+9.8% | 244M+11.6% | 219M+0.7% | |
| Interest & investment income | 3.58B+26.5% | 2.83B+49.7% | 1.89B+50.2% | 1.26B+46.4% | 861M-8.1% | |
| Gain (loss) on equity securities | 553M-14.3% | 645M+18.6% | 544M+143.8% | -1.24B-196.8% | 1.28B+71.1% | |
| Pre-tax income | 14.2B+32.8% | 10.7B+118.5% | 4.90B+431.9% | 922M-78.1% | 4.21B-41.3% | |
| Income tax | 2.92B+30.5% | 2.23B+123.1% | 1.00B+400.5% | 200M-76.7% | 859M-41.5% | |
| 11.3B+33.3% | 8.48B+117.3% | 3.90B+440.6% | 722M-78.5% | 3.35B-41.3% | ||
| Net income to non-controlling interest | — | — | — | — | 0.00 | |
| Net income to common | 11.3B+33.6% | 8.46B+119.0% | 3.87B+456.1% | 695M-79.1% | 3.32B-41.5% | |
| $19.23+33.5% | $14.40+118.8% | $6.58+457.6% | $1.18-79.2% | $5.66-41.4% | ||
| EPS (basic) | $19.29+33.5% | $14.45+118.6% | $6.61+455.5% | $1.19-79.1% | $5.69-41.4% | |
| Weighted-avg shares (basic) | 586M+0.1% | 586M+0.1% | 585M+0.1% | 584M-0.0% | 585M-0.1% | |
| Weighted-avg shares (diluted) | 588M+0.1% | 588M+0.0% | 588M+0.1% | 587M+0.0% | 587M-0.1% | |
| Dividends per share | $13.90+183.7% | $4.90+326.1% | $1.15+187.5% | $0.40-78.9% | $1.90-61.2% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Cash & equivalents | 138M-10.4% | 154M+54.0% | 100M-54.8% | 221M+9.4% | 202M+164.1% | |
| Short-term investments | 10.0B+1526.8% | 615M-65.6% | 1.79B-37.4% | 2.86B+203.6% | 943M-81.9% | |
| 123B+16.4% | 106B+19.2% | 88.7B+17.5% | 75.5B+6.1% | 71.1B+11.0% | ||
| Property, plant & equipment | 783M-0.9% | 790M-10.3% | 881M-14.8% | 1.03B-9.1% | 1.14B+2.8% | |
| Operating lease right-of-use | 199M+3.1% | 193M+11.6% | 173M+32.6% | 131M-24.4% | 173M+4.3% | |
| Goodwill | — | 228M+0.0% | 228M+0.0% | 228M-49.7% | 453M+0.0% | |
| Intangible assets | — | — | — | 86.3M-26.4% | 117M-31.6% | |
| Deferred tax assets | 748M-21.6% | 954M+1.9% | 936M-17.3% | 1.13B | 0.00 | |
| Short-term & current debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00-100.0% | |
| 92.7B+15.7% | 80.2B+17.2% | 68.4B+14.8% | 59.6B+12.6% | 52.9B+12.4% | ||
| Operating lease liability (total) | 205M+4.6% | 196M+10.7% | 177M+29.0% | 137M-24.2% | 181M+1.1% | |
| Deferred tax liabilities | — | — | — | — | 153M-50.7% | |
| 30.3B+18.5% | 25.6B+26.2% | 20.3B+27.6% | 15.9B-12.8% | 18.2B+7.0% | ||
| Additional paid-in capital | 2.31B+7.6% | 2.15B+6.6% | 2.01B+6.3% | 1.89B+6.8% | 1.77B+6.0% | |
| Retained earnings | 27.3B+12.5% | 24.3B+29.2% | 18.8B+19.6% | 15.7B+2.5% | 15.3B+14.9% | |
| Accumulated other comprehensive income | 103M+107.2% | -1.42B+11.9% | -1.62B+42.3% | -2.80B-6934.1% | 41.0M-95.6% | |
| Total liabilities & equity | 123B+16.4% | 106B+19.2% | 88.7B+17.5% | 75.5B+6.1% | 71.1B+11.0% | |
| Common shares issued | 798M+0.0% | 798M+0.0% | 798M+0.1% | 798M+0.0% | 798M+0.0% | |
| Shares outstanding (cover) | 586M-0.1% | 586M+0.1% | 586M+0.1% | 585M+0.1% | 585M-0.2% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 17.5B+16.1% | 15.1B+42.1% | 10.6B+55.4% | 6.85B-11.8% | 7.76B+12.4% | ||
| Depreciation & amortization | 313M+10.2% | 284M-5.1% | 299M-11.2% | 337M-0.1% | 337M+1.7% | |
| Intangible amortization | — | — | 14.2M-54.2% | 31.0M-46.3% | 57.7M+1.4% | |
| -14.5B-5.7% | -13.7B-26.8% | -10.8B-36.3% | -7.96B-155.0% | -3.12B+49.0% | ||
| Capital expenditure | 348M+22.1% | 285M+13.1% | 252M-13.7% | 292M+19.9% | 244M+8.9% | |
| Free cash flow | 17.2B+15.9% | 14.8B+42.8% | 10.4B+58.5% | 6.56B-12.8% | 7.52B+12.5% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00-100.0% | 313M | |
| Sales/maturities of investments | 8.52B+21.6% | 7.01B+40.4% | 4.99B-7.2% | 5.38B-23.3% | 7.01B-1.3% | |
| Proceeds from sale of PP&E | 80.0M+3.9% | 77.0M+63.8% | 47.0M+34.3% | 35.0M-47.1% | 66.2M+202.3% | |
| -3.04B-130.8% | -1.32B-1787.2% | 78.0M-93.1% | 1.13B+124.9% | -4.52B-381.1% | ||
| Long-term debt issued | 0.00 | 0.00-100.0% | 496M-66.6% | 1.49B | 0.00-100.0% | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00-100.0% | 500M | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 2.87B+326.0% | 674M+188.0% | 234M+0.0% | 234M-93.8% | 3.75B+141.6% | |
| Net change in cash | -16.0M-129.6% | 54.0M+144.6% | -121M-736.8% | 19.0M-84.9% | 126M+183.2% | |
| Interest paid | 276M+0.0% | 276M+4.2% | 265M+15.7% | 229M+2.2% | 224M+8.7% | |
| Income taxes paid | 3.11B+20.2% | 2.58B+214.9% | 821M+14.2% | 719M-14.6% | 842M-41.8% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 133B-5.0% | 140B+50.7% | 93.2B+22.8% | 75.9B+26.4% | 60.0B+3.7% | |
| P/E | 11.8×-28.8% | 16.6×-51.3% | 34.0×-61.6% | 88.5×+394.0% | 17.9×+76.5% | |
| P/S | 1.5×-18.3% | 1.9×+17.4% | 1.6×+1.8% | 1.6×+24.0% | 1.3×-7.3% | |
| P/B | 4.4×-19.8% | 5.5×+2.5% | 5.4×+4.3% | 5.1×+56.0% | 3.3×-3.1% | |
| P/FCF | 7.8×-18.1% | 9.5×-9.4% | 10.4×-16.4% | 12.5×+56.5% | 8.0×-7.9% | |
| Earnings yield | 8.5%+40.4% | 6.0%+105.2% | 2.9%+160.4% | 1.1%-79.8% | 5.6%-43.3% | |
| FCF yield | 12.9%+22.1% | 10.6%+10.3% | 9.6%+19.6% | 8.0%-36.1% | 12.5%+8.5% | |
| Dividend yield | 6.1%+198.5% | 2.0%+183.2% | 0.72%+134.1% | 0.31%-83.3% | 1.9%-62.6% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: PGR’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all PGR filings on SEC EDGAR → Not investment advice.