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

	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25	TTM Q1 '25
Profitability
Net margin	51.1%+1.8pp	49.2%+1.6pp	47.6%+1.3pp	46.3%+2.5pp	43.8%+2.2pp
Free cash flow margin	78%-1.7pp	79.6%-0.1pp	79.7%+0.2pp	79.6%+0.6pp	78.9%+1.3pp
Returns
Return on equity	149.9%+3.6pp	146.3%+3.5pp	142.8%-2.2pp	145%+2.8pp	142.2%+4.4pp
Return on assets	39%+1.4pp	37.6%+1.2pp	36.4%+0.9pp	35.5%+2.1pp	33.3%+1.9pp
Efficiency
Asset turnover	3.1×0.0×	3.1×0.0×	3.1×0.0×	3.1×0.0×	3×0.0×
Leverage
Debt-to-equity	0.9×0.0×	0.9×0.0×	0.9×-0.1×	1×-0.1×	1.1×-0.1×
Debt-to-assets	0.2×0.0×	0.2×0.0×	0.2×0.0×	0.3×0.0×	0.3×0.0×
Per Share
Book value per share	$221.88+2.5%	$216.56+3.8%	$208.54+7.2%	$194.50+8.8%	$178.77+7.3%
Valuation
Market capitalization	$550.21B-8.3%	$600.15B-1.1%	$607.03B-0.6%	$610.77B+6.0%	$576.42B+8.4%
Enterprise value	$578.9B-7.7%	$627.32B-1.1%	$634.17B-0.6%	$637.94B+5.7%	$603.62B+8.0%
Price / earnings	50.3×-9.0×	59.3×-4.7×	64.1×-4.8×	68.8×-2.7×	71.5×-1.9×
Price / sales	6.4×-0.8×	7.2×-0.3×	7.6×-0.4×	7.9×+0.1×	7.8×+0.3×
Price / book	16.9×-2.1×	19×-1.1×	20.1×-1.4×	21.5×-0.4×	21.9×+0.2×
EV / sales	6.7×-0.8×	7.6×-0.4×	7.9×-0.4×	8.3×+0.1×	8.2×+0.2×
Free cash flow yield	49.4%+4.7pp	44.7%+2.3pp	42.4%+2.2pp	40.2%-0.2pp	40.5%-0.6pp
Earnings yield	32.5%+4.7pp	27.8%+2.4pp	25.4%+1.9pp	23.4%+1.0pp	22.4%+0.5pp
Dividend yield	13%+5.3pp	7.7%+1.7pp	6%+1.5pp	4.5%+1.3pp	3.2%+1.2pp
PEG ratio	1.4×-0.1×	1.4×+0.2×	1.2×+0.3×	0.9×+0.2×	0.7×+0.3×

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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.