Income StatementBalance SheetCash FlowSegments
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Progressive Cash Flow Statement

Operating, investing, and financing cash movements

Progressive generated $15.1B in operating cash flow over the trailing twelve months. After $368.0M in capital expenditures, free cash flow was $14.7B. Free cash flow decreased 0.2% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$16.8BNet Cash From Investing (TTM)-$9.5BNet Cash From Financing (TTM)-$7.3BCapital Expenditures (TTM)$352.0MDepreciation And Amortization Cf (TTM)$313.0MNet Change In Cash (TTM)-$28.0M
Latest FilingQ1 2026
Report Date2026-05-04
Market Cap$116.41B
P/E Ratio10.09
ROE34.19%

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gain on sale of property, plant, and equipment-$15.0M-$3.0M—-$1.0M-$14.0M-$3.0M
Amortization of Investment Discount and Premium$6.0M$21.0M$34.0M$26.0M$43.0M$47.0M
Accretion (amortization) of discounts and premiums on investments$6.0M$21.0M$34.0M$26.0M$43.0M$47.0M
Change in accounts payable—$334.0M$216.0M$1.5B—-$788.0M
Change in income taxes payable/receivable$0.0$667.0M-$840.0M—-$62.0M$830.0M
Other working capital changes$75.0M$34.0M-$88.0M$196.0M—$141.0M
Accretion (Amortization) of Investment Discounts and Premiums$6.0M$21.0M$34.0M$26.0M$43.0M$47.0M
Net cash from operating activities$3.0B$5.1B$4.0B$5.2B$3.2B$4.4B
Net income$2.4B$2.6B$3.2B$2.6B$3.0B$2.8B
Accretion (Amortization) of Discounts and Premiums, Investments$6.0M$21.0M$34.0M$26.0M$43.0M$47.0M
Depreciation$76.0M$70.0M$79.0M$81.0M$83.0M$75.0M
Increase (Decrease) in Deferred Policy Acquisition Costs—$107.0M$42.0M$54.0M—$87.0M
Unpaid losses and loss expenses$995.0M$765.0M$1.3B$951.0M$1.2B$1.1B
Increase (Decrease) in Premiums Receivable—$2.4B—$113.0M—$2.3B
Increase Decrease In Prepaid Reinsurance Premiums$125.0M-$43.0M-$43.0M-$48.0M-$18.0M$1.0M
Increase (Decrease) in Reinsurance Recoverable-$116.0M-$316.0M-$252.0M-$90.0M-$24.0M-$80.0M
Unearned premiums—$2.8B—$487.0M—$2.7B
Net realized gains (losses)—-$212.0M$387.0M$295.0M$257.0M-$120.0M
Stock-based compensation expense — restricted shares$36.0M$16.0M$32.0M$42.0M$42.0M$16.0M
Accretion (Amortization) of Investment Discounts and Premiums$6.0M$21.0M$34.0M$26.0M$43.0M$47.0M

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Sales of short-term available-for-sale investments$7.1B$14.7B$2.4B$434.0M$18.2B$11.1B
Capital expenditures$110.0M$59.0M$102.0M$66.0M$121.0M$63.0M
Proceeds from Sale of Retained Ownership Interests$45.0M$149.0M$2.0M$31.0M$84.0M$56.0M
Payments to Acquire Equity Securities, FV-NI$58.0M$86.0M$1.0M$56.0M$44.0M$57.0M
Equity securities—$87.0M$90.0M$63.0M$35.0M$152.0M
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-Sale$2.3B$2.0B$2.1B$2.3B$2.2B$2.5B
Net change in unsettled security transactions—$172.0M$6.0M$220.0M—$243.0M
Sale of investments$7.1B$14.7B$2.4B$434.0M$18.2B$11.1B
Proceeds from disposal of certain strategic investments$45.0M$149.0M$2.0M$31.0M$84.0M$56.0M
Proceeds from disposals of property, plant and equipment$12.0M$13.0M$39.0M$18.0M$10.0M$14.0M
Proceeds from Sale of Seagen Inc. Common Stock$45.0M$149.0M$2.0M$31.0M$84.0M$56.0M
Net cash from investing activities-$2.9B-$2.3B-$4.0B-$5.0B-$3.1B$2.6B
Payments for (Proceeds from) Short-Term Investments-$147.0M$2.0B——$8.5B-$7.9B
Purchases of investments$11.9B$17.3B$9.0B$8.6B$14.7B$19.3B

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Dividends paid$59.0M$2.7B$59.0M$58.0M$59.0M$8.0B
Payments for Repurchase of Common Stock for Restricted Stock Tax Liabilities$0.0$54.0M$1.0M$37.0M$0.0$43.0M
Payments for Repurchase of Common Stock in the Open Market—$0.0$12.0M$3.0M$59.0M$435.0M
Net cash from financing activities-$59.0M-$2.7B-$72.0M-$98.0M-$118.0M-$7.0B

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$2.9B$5.1B$3.9B$5.1B$3.0B$4.3B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net increase (decrease) in cash$7.0M$53.0M-$72.0M$50.0M-$47.0M$41.0M