📊 PGR Key Takeaways
Is Progressive Corp./Oh/ (PGR) a Good Investment?
Progressive demonstrates exceptional financial health with industry-leading profitability metrics (37.3% ROE, 12.9% net margin) and robust cash generation (17.2B FCF). The company maintains a fortress balance sheet with minimal leverage (0.23x Debt/Equity) and strong operational efficiency, supported by consistent operational cash flow of 17.5B.
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.
Why Buy Progressive Corp./Oh/ Stock? PGR Key Strengths
- Exceptional ROE of 37.3% indicating superior capital efficiency in insurance underwriting
- Strong net margin of 12.9% with operating margin of 16.2% demonstrating pricing power and cost control
- Fortress balance sheet with low leverage ratio of 0.23x and interest coverage of 51.2x
- Robust free cash flow of 17.2B representing 19.6% FCF margin with minimal capex requirements
- Significant insider activity with 42 Form 4 filings in last 90 days suggesting management confidence
- EPS growth of 33.5% YoY driven by operational improvements
- 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 surge of 2346.9% YoY requires investigation into source (acquisition, accounting change, or market anomaly) for sustainability assessment
- High ROE may compress if competitive pressures or underwriting discipline issues emerge in insurance industry
- Minimal cash position of 125.0M relative to 123.0B asset base indicates reliance on cash flow generation and potential vulnerability to catastrophic claims
- Insurance sector exposure to weather events, claim inflation, and regulatory changes creates earnings volatility
- 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
- Combined ratio (underwriting profitability) - critical for insurance underwriting quality
- Net written premiums growth and retention rates - validate sustainability of revenue trajectory
- Operating cash flow stability and free cash flow sustainability as insurance claims develop
- Return on equity trend - monitor for compression from current exceptional levels
- Loss ratios by segment - assess exposure concentration and underwriting discipline
- 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 |
|---|---|---|---|
| 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 |
| Q2 2023 | $11.5B | -$229.0M | $-0.41 |
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 Rating of BUY from Claude (STRONG BUY) and ChatGPT (BUY) with 84% combined confidence, based on fundamental analysis of SEC EDGAR filings.
What are PGR's key strengths?
Claude: Exceptional ROE of 37.3% indicating superior capital efficiency in insurance underwriting. Strong net margin of 12.9% with operating margin of 16.2% demonstrating pricing power and cost control. 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 surge of 2346.9% YoY requires investigation into source (acquisition, accounting change, or market anomaly) for sustainability assessment. High ROE may compress if competitive pressures or underwriting discipline issues emerge in insurance industry. 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 $87.7B.
Does PGR pay dividends?
Progressive Corp./Oh/ pays dividends, with $2,871.0M 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 $19.23.
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 rating reflects both perspectives for balanced insights.
Is PGR a good stock to buy right now?
Based on our AI fundamental analysis in April 2026, Progressive Corp./Oh/ has a BUY rating with 84% 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 37.3% (sector avg: 12%), net margin of 12.9% (sector avg: 25%). Higher ROE suggests strong returns relative to peers.
Should I buy PGR stock in 2026?
Our dual AI analysis gives Progressive Corp./Oh/ a combined BUY rating 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 $17.5B, with capital expenditures of $348.0M. FCF margin is 19.6%.
How does PGR compare to other Finance stocks?
Vs Finance sector averages: Net margin 12.9% (avg: 25%), ROE 37.3% (avg: 12%), current ratio N/A (avg: 1.2).
Why is PGR's return on equity (ROE) so high?
Progressive Corp./Oh/ has a return on equity of 37.3%, significantly above the Finance sector average of 12%. A high ROE indicates the company is efficient at generating profits from shareholder equity. This is supported by a 12.9% net margin.