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Progressive PGR Q2 2025 earnings

Reported July 16, 2025 · Before market open

Revenue$22.0BBeat by $1.5B
EPS$4.88Beat by $0.40
Revenue estimate$20.5B
EPS estimate$4.48

Next report

Oct 14, 2026 (in 2 months)
Revenue estimate$22.2B
EPS estimate$3.98

Financials

Q2 2025

Income statement

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Revenue$22.0B+21.3%
Net income$3.2B+118%
EPS (diluted)$5.40+118%

Balance sheet

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Cash & equivalents$125.0M+38.9%
Total debt$6.9B+0.1%
Total equity$32.6B+39.7%
Total assets$115.48B+18.0%

Cash flow

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Operating cash flow$4.0B+23.7%
CapEx$102.0M+50.0%
Free cash flow$3.9B+23.1%

Valuation & ratios

Valuation

as of 06/30/25
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Market cap$155.94B+28.2%
Enterprise value$162.71B+26.7%
P/E14.9×-2.7×
P/S1.9×+0.1×

Profitability

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Net margin12.7%+2.5pp
FCF margin20%+0.6pp

Returns & leverage

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Return on equity37.3%+2.8pp
Debt / equity0.2×-0.1×

FAQ

When did Progressive report Q2 2025 earnings?
Progressive (PGR) reported Q2 2025 earnings on July 16, 2025 before market open.
What were Progressive's Q2 2025 revenue and EPS?
Progressive reported revenue of $22.0B and eps of $4.88 for Q2 2025.
Did Progressive beat estimates in Q2 2025?
Revenue beat the consensus estimate of $20.5B by $1.5B. EPS beat the consensus estimate of $4.48 by $0.40.
How did Progressive's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 23.8% from $17.8B a year earlier and eps grew 84.2% from $2.65.
Where can I find Progressive's Q2 2025 SEC filings?
You can read the 8-K earnings release (0000080661-25-000038) and the 10-Q periodic report (0000080661-25-000051) directly on SEC EDGAR. The filing index links above go to sec.gov.