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%0.0pp	12.9%+0.3pp	12.6%-0.1pp	12.7%+1.6pp	11.1%-0.2pp
Free cash flow margin	18.4%-1.3pp	19.6%-0.4pp	20%0.0pp	20%0.0pp	20%+0.4pp
Returns
Return on equity	37.9%-2.5pp	40.4%+6.2pp	34.2%-3.1pp	37.3%+3.0pp	34.3%-2.6pp
Return on assets	9.9%0.0pp	9.9%+0.4pp	9.4%-0.3pp	9.8%+1.3pp	8.5%-0.2pp
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×	0.2×0.0×	0.2×0.0×	0.2×0.0×
Debt-to-assets	0.1×0.0×	0.1×0.0×	0.1×0.0×	0.1×0.0×	0.1×0.0×
Per Share
Book value per share	$54.59+5.9%	$51.56-14.4%	$60.26+8.6%	$55.47+12.6%	$49.27+13.1%
Valuation
Market capitalization	$115.96B-13.1%	$133.49B-7.8%	$144.81B-7.1%	$155.94B-6.0%	$165.91B+18.2%
Enterprise value	$124.19B-11.6%	$140.47B-7.3%	$151.53B-6.9%	$162.71B-5.7%	$172.61B+17.2%
Price / earnings	10×-1.8×	11.8×-1.7×	13.5×-1.4×	14.9×-4.1×	19×+2.5×
Price / sales	1.3×-0.2×	1.5×-0.2×	1.7×-0.2×	1.9×-0.2×	2.1×+0.3×
Price / book	3.6×-0.8×	4.4×+0.3×	4.1×-0.7×	4.8×-0.9×	5.7×+0.2×
EV / sales	1.4×-0.2×	1.6×-0.2×	1.8×-0.2×	2×-0.2×	2.2×+0.2×
Free cash flow yield	14.2%+1.3pp	12.9%+1.1pp	11.8%+1.2pp	10.6%+1.1pp	9.5%-1.1pp
Earnings yield	10%+1.5pp	8.5%+1.1pp	7.4%+0.7pp	6.7%+1.4pp	5.3%-0.8pp
Dividend yield	7%+4.9pp	2.2%+0.2pp	2%+0.1pp	1.8%+0.1pp	1.7%+1.3pp
PEG ratio	0.3×0.0×	0.4×-0.1×	0.4×+0.1×	0.3×-0.1×	0.4×+0.2×

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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.