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Progressive PGR Debt-to-equity

Debt-to-equity at other companies

Cincinnati Financial logo
Cincinnati FinancialCINF
0.1×0.0×
The Travelers Companies logo
The Travelers CompaniesTRV
0.3×0.0×
The Hartford Financial Services Group logo
The Hartford Financial Services GroupHIG
0.2×0.0×
Allstate logo
AllstateALL
0.2×-0.1×
Berkshire Hathaway logo
Berkshire HathawayBRK.B
0.0×
Chubb logo
ChubbCB
0.3×0.0×

Other financials

Income statement

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Revenue$22.2B+8.7%
Net income$2.8B+9.8%
EPS (diluted)$4.80+9.8%

Balance sheet

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Cash & equivalents$162.0M-16.9%
Total debt$8.4B+21.6%
Total equity$32.0B+10.7%
Total assets$122.21B+9.7%

Cash flow

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Operating cash flow$4.4B-15.1%
CapEx$63.0M+6.8%
Free cash flow$4.3B-15.3%

Valuation

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Market cap$119.01B-30.1%
Enterprise value$127.24B-28.1%
P/E10.3×-9.2×
P/S1.3×-0.8×

Profitability

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Net margin12.9%+1.8pp

Returns & leverage

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Return on equity37.9%+3.6pp

Where this comes from

Calculated from Progressive’s reported figures.

Based on the most recent quarter.

The official record: Progressive’s 10-Q, filed May 4, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Progressive's debt-to-equity?
Progressive (PGR) reported debt-to-equity of 0.3× in Q1 2026.
How has Progressive's debt-to-equity changed year-over-year?
Progressive's debt-to-equity increased by 9.9% year-over-year, from 0.2× to 0.3×.
What is the long-term trend for Progressive's debt-to-equity?
Over 4 years (2021 to 2025), Progressive's debt-to-equity has grown at a -7.3% compound annual growth rate (CAGR), from 1.2× to 0.9×.
What does debt-to-equity mean?
How much debt the company carries for every dollar of shareholder equity.
How do you interpret debt-to-equity?
Lower is generally safer, but moderate leverage can boost returns. Read in the context of cash-flow stability — a utility tolerates more debt than a cyclical. Negative equity makes the ratio meaningless and it is suppressed there.
How does debt-to-equity compare across companies?
Comparable within an industry; capital structures differ sharply across sectors. Not meaningful for banks.