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Progressive PGR Net margin

Net margin at other companies

Cincinnati Financial logo
Cincinnati FinancialCINF
21.3%+8.1pp
The Travelers Companies logo
The Travelers CompaniesTRV
15.5%+6.5pp
The Hartford Financial Services Group logo
The Hartford Financial Services GroupHIG
14.1%+3.0pp
Allstate logo
AllstateALL
17.8%+11.6pp
Berkshire Hathaway logo
Berkshire HathawayBRK.B
19.3%-2.5pp
Chubb logo
ChubbCB
18.6%+3.5pp

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×

Returns & leverage

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Return on equity37.9%+3.6pp
Debt / equity0.3×0.0×

Where this comes from

Calculated from Progressive’s reported figures.

Based on trailing twelve months.

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 net margin?
Progressive (PGR) reported net margin of 12.9% in Q1 2026.
How has Progressive's net margin changed year-over-year?
Progressive's net margin increased by 16.4% year-over-year, from 11.1% to 12.9%.
What is the long-term trend for Progressive's net margin?
Over 4 years (2021 to 2025), Progressive's net margin has grown at a 3.9% compound annual growth rate (CAGR), from 42.2% to 49.2%.
What does net margin mean?
The share of every sales dollar that becomes bottom-line profit.
How do you interpret net margin?
Higher is better, but net margin mixes operating performance with financing and tax effects and one-off items — read it alongside operating margin to separate the operating story from the rest.
How does net margin compare across companies?
Comparable across peers but sensitive to leverage and tax structure; two operationally identical firms can show different net margins purely from financing.