Investing
CapEx
Progressive CapEx increased by 83.3% to $121.00M in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 9.8%, from $110.20M to $121.00M. Over 4 years (FY 2021 to FY 2025), CapEx shows an upward trend with a 9.3% CAGR.
Analysis
StatementCash Flow Statement
SectionInvesting
CategoryGrowth
SignalContext dependent
VolatilityModerate
First reportedQ4 2013
Last reportedQ4 2025
How to read this metric
An increase signals growth investment or infrastructure modernization; a decrease might suggest cost-cutting or a transition to an asset-light model.
Detailed definition
Funds used by a company to acquire, upgrade, and maintain physical assets such as property, plants, buildings, technolog...
Peer comparison
Hardware-focused tech firms typically have higher CapEx relative to revenue than pure software companies due to manufacturing and supply chain needs.
Metric ID:
cf_capital_expendituresHistorical Data
19 periods
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $48.00M | $89.80M | $55.20M | $73.00M | $63.70M | $108.30M | $47.00M | $43.20M | $90.40M | $36.30M | $82.10M | $50.20M | $67.90M | $56.70M | $110.20M | $59.00M | $102.00M | $66.00M | $121.00M |
| QoQ Change | — | +87.1% | -38.5% | +32.2% | -12.7% | +70.0% | -56.6% | -8.1% | +109.3% | -59.8% | +126.2% | -38.9% | +35.3% | -16.5% | +94.4% | -46.5% | +72.9% | -35.3% | +83.3% |
| YoY Change | — | — | — | — | +32.7% | +20.6% | -14.9% | -40.8% | +41.9% | -66.5% | +74.7% | +16.2% | -24.9% | +56.2% | +34.2% | +17.5% | +50.2% | +16.4% | +9.8% |
Range$36.30M – $121.00M
CAGR+22.8%
Avg YoY Growth+14.9%
Median YoY Growth+17.5%
CapEx at Other Companies
Frequently Asked Questions
- What is Progressive's capex?
- Progressive (PGR) reported capex of $121.00M in Q4 2025.
- How has Progressive's capex changed year-over-year?
- Progressive's capex increased by 9.8% year-over-year, from $110.20M to $121.00M.
- What is the long-term trend for Progressive's capex?
- Over 4 years (2021 to 2025), Progressive's capex has grown at a 9.3% compound annual growth rate (CAGR), from $243.50M to $348.00M.
- What does capex mean?
- The money spent on long-term physical assets like machinery, data centers, and office buildings.