Progressive Corporation (PGR)
Financials · Property and casualty insurance
Progressive is America's #2 personal auto insurer, growing rapidly by writing personal and commercial insurance across multiple lines with industry-leading digital distribution and data analytics.
What Progressive Corporation does
Progressive Corporation is an insurance holding company that writes personal and commercial auto insurance, personal residential property insurance, and specialty property-casualty insurance through subsidiaries across the United States. The company operates two primary segments: Personal Lines (87% of net premiums written), which includes personal auto, motorcycle, RV, watercraft, and homeowners/renters insurance; and Commercial Lines, which covers business auto, workers' compensation, general liability, commercial property, and transportation network company (TNC) insurance. Progressive ranked #2 in U.S. private passenger auto insurance market share as of 2024 and achieved a 13.6% underwriting profit margin in Q1 2026.
Themes: ["Personal auto insurance","Commercial auto insurance","Specialty property insurance","Digital insurance distribution","Direct-to-consumer and agency channels","Underwriting profitability","Growth through rate optimization and policy expansion","Catastrophe management"]
Fundamentals
- Price$229.52 as of 2026-07-09 close
- Market cap$134.1B as of 2026-07-10
- 1-year return-8.3% as of 2026-07-09 close
- P/E11.60 as of 2026-07-10
- Net margin+12.9% as of 2026-07-10
- ROE+35.4% as of 2026-07-10
- Debt / equity0.26 as of 2026-07-10
- Revenue growth (YoY)+13.9% as of 2026-07-10
- Revenue CAGR (3y)+20.9% SEC XBRL
- Beta0.26 as of 2026-07-10
Dividend: yield +0.2%; 4-year non-decreasing per-share dividend streak (SEC XBRL).
Key risks (from latest filing)
["Catastrophic loss exposure: Personal property and special lines products experience seasonal loss variation and vulnerability to major catastrophes, with realized loss experience significantly impacting profitability margins.","Competitive market pressure and pricing: Operating in a highly fragmented market with approximately 230 personal auto competitors and 360 homeowners carriers; reliance on aggressive advertising spend ($1.5B in Q1 2026) and rate competition to maintain market share growth and acquisition efficiency.","Investment portfolio volatility: Total comprehensive income decreased $1.2B in Q1 2026 driven by net unrealized losses on fixed-maturity securities, exposing shareholders to interest rate and market risk on the investment portfolio."]
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.