Progressive PGR Ratios & Valuation
| FY'25 | FY'24 | FY'23 | FY'22 | ||
|---|---|---|---|---|---|
| Profitability | |||||
| Net margin | 49.2%+7.6pp | 41.6%+25.9pp | 15.7%+6.2pp | 9.5%-32.7pp | |
| Free cash flow margin | 79.6%+2.1pp | 77.6%+19.8pp | 57.8%+3.3pp | 54.5%-13.8pp | |
| Returns | |||||
| Return on equity | 146.3%+8.5pp | 137.8%+83.3pp | 54.5%+27.6pp | 26.9%-85.7pp | |
| Return on assets | 37.6%+6.1pp | 31.5%+20.0pp | 11.5%+5.0pp | 6.5%-23.6pp | |
| Efficiency | |||||
| Asset turnover | 3.1×0.0× | 3×+0.1× | 2.9×+0.2× | 2.7×-0.1× | |
| Leverage | |||||
| Debt-to-equity | 0.9×-0.3× | 1.1×-0.4× | 1.5×-0.1× | 1.6×+0.4× | |
| Debt-to-assets | 0.2×0.0× | 0.3×0.0× | 0.3×0.0× | 0.3×0.0× | |
| Per Share | |||||
| Book value per share | $216.56+30.0% | $166.64+37.3% | $121.33+12.3% | $108.01-13.5% | |
| Valuation | |||||
| Market capitalization | $600.15B+12.9% | $531.58B+58.3% | $335.77B+20.5% | $278.55B+23.2% | |
| Enterprise value | $627.32B+12.3% | $558.82B+54.2% | $362.36B+19.5% | $303.18B+22.7% | |
| Price / earnings | 59.3×-14.1× | 73.4×-122× | 195.7×-99.0× | 294.8×+245× | |
| Price / sales | 7.2×-0.4× | 7.6×+1.7× | 5.9×+0.1× | 5.7×+0.8× | |
| Price / book | 19×-2.7× | 21.7×+2.8× | 18.9×+1.2× | 17.6×+5.3× | |
| EV / sales | 7.6×-0.4× | 8×+1.6× | 6.3×+0.1× | 6.2×+0.9× | |
| Free cash flow yield | 44.7%+3.7pp | 41%+1.5pp | 39.5%+1.4pp | 38.1%-18.0pp | |
| Earnings yield | 27.8%+5.9pp | 22%+11.1pp | 10.8%+4.1pp | 6.7%-27.7pp | |
| Dividend yield | 7.7%+5.7pp | 2%+0.9pp | 1.1%-4.1pp | 5.2%-16.6pp | |
| PEG ratio | 1.4×+1.1× | 0.3×— | —— | —— |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- 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.
