Where do Progressive's ratios come from?

Every ratio is computed from Progressive's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Progressive PGR Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Net margin	12.9%+1.8pp	12.9%+1.6pp	12.6%+1.3pp	12.7%+2.5pp	11.1%+2.2pp
Returns
Return on equity	37.9%+3.6pp	40.4%+3.5pp	34.2%-2.2pp	37.3%+2.8pp	34.3%+4.4pp
Efficiency
Asset turnover	0.8×0.0×	0.8×0.0×	0.8×0.0×	0.8×0.0×	0.8×0.0×
Leverage
Debt-to-equity	0.3×0.0×	0.2×0.0×	0.2×-0.1×	0.2×-0.1×	0.2×-0.1×
Per Share
Book value per share	$54.59+10.8%	$51.56+18.4%	$60.26+30.4%	$55.47+39.6%	$49.27+32.7%
Valuation
Market capitalization	$115.96B-30.1%	$133.49B-4.9%	$144.81B-2.5%	$155.94B+28.2%	$165.91B+37.0%
Price / earnings	10×-9.0×	11.8×-4.7×	13.5×-4.8×	14.9×-2.7×	19×-1.9×
Price / sales	1.3×-0.8×	1.5×-0.3×	1.7×-0.4×	1.9×+0.1×	2.1×+0.3×
Price / book	3.6×-2.1×	4.4×-1.1×	4.1×-1.4×	4.8×-0.4×	5.7×+0.2×
Dividend yield	7%+5.3pp	2.2%+1.7pp	2%+1.5pp	1.8%+1.3pp	1.7%+1.2pp

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Where do Progressive's ratios come from?: Every ratio is computed from Progressive's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.