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Progressive PGR Q3 2025 earnings

Reported October 15, 2025 · Before market open

Revenue$22.5BBeat by $709.7M
EPS$4.05Miss by $0.94
Revenue estimate$21.8B
EPS estimate$4.99

Next report

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

Financials

Q3 2025

Income statement

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Revenue$22.5B+14.2%
Net income$2.6B+12.0%
EPS (diluted)$4.45+12.1%

Balance sheet

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Cash & equivalents$173.0M+27.2%
Total debt$6.9B+0.1%
Total equity$35.4B+30.5%
Total assets$121.54B+15.5%

Cash flow

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Operating cash flow$5.2B+12.7%
CapEx$66.0M+15.8%
Free cash flow$5.1B+12.7%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$144.81B-2.5%
Enterprise value$151.53B-2.4%
P/E13.5×-4.8×
P/S1.7×-0.4×

Profitability

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Net margin12.6%+1.3pp
FCF margin20%+0.2pp

Returns & leverage

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Return on equity34.2%-2.2pp
Debt / equity0.2×-0.1×

FAQ

When did Progressive report Q3 2025 earnings?
Progressive (PGR) reported Q3 2025 earnings on October 15, 2025 before market open.
What were Progressive's Q3 2025 revenue and EPS?
Progressive reported revenue of $22.5B and eps of $4.05 for Q3 2025.
Did Progressive beat estimates in Q3 2025?
Revenue beat the consensus estimate of $21.8B by $709.7M. EPS missed the consensus estimate of $4.99 by $0.94.
How did Progressive's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 14.2% from $19.7B a year earlier and eps grew 12.8% from $3.59.
Where can I find Progressive's Q3 2025 SEC filings?
You can read the 8-K earnings release (0000080661-25-000126) and the 10-Q periodic report (0000080661-25-000129) directly on SEC EDGAR. The filing index links above go to sec.gov.