Progressive CorporationPGREarnings & Financial Report
The Progressive Corporation is an American insurance company. Progressive is currently the #2 auto insurer in the United States behind State Farm. The company was co-founded in 1937 by Jack Green and Joseph M. Lewis, and is headquartered in Mayfield, Ohio. The company insures passenger vehicles, motorcycles, recreational vehicles (RVs), trailers, boats, personal water craft (PWC), and commercial vehicles. Progressive also provides home, life, pet, and other types of insurance through select c...
Revenue
$17.2B
Gross Profit
N/A
Operating Profit
$2.9B
Net Profit
$2.3B
Gross Margin
N/A
Operating Margin
17.1%
Net Margin
13.5%
YoY Growth
20.6%
EPS
$3.94
Financial Flow
Progressive Corporation Q1 2024 Financial Summary
Progressive Corporation reported revenue of $17.2B (up 20.6% YoY) for Q1 2024, with a net profit of $2.3B (up 420.4% YoY) (13.5% margin). Cost of goods sold was N/A.
Key Financial Metrics
| Total Revenue | $17.2B |
|---|---|
| Net Profit | $2.3B |
| Gross Margin | N/A |
| Operating Margin | 17.1% |
| Report Period | Q1 2024 |
Revenue Breakdown
Progressive Corporation Q1 2024 revenue of $17.2B breaks down across 5 segments, led by Underwriting Operations at $12.9B (74.7% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Underwriting Operations | $12.9B | 74.7% |
| Other | $3.3B | 19.0% |
| Investments1 | $773.2M | 4.5% |
| Fees And Other Revenues | $236.5M | 1.4% |
| Non Insurance Service Business | $84.2M | 0.5% |
Progressive Corporation Annual Revenue by Year
Progressive Corporation annual revenue history includes year-by-year totals (for example, 2025 revenue was $87.7B).
| Year | Annual Revenue |
|---|---|
| 2025 | $87.7B |
| 2024 | $75.4B |
| 2023 | $62.1B |
| 2022 | $49.6B |
Progressive Corporation Quarterly Revenue & Net Profit History
Progressive Corporation results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 2025 | $22.7B | +12.2% | $3.0B | 13.0% |
| Q3 2025 | $22.5B | +14.2% | $2.6B | 11.6% |
| Q2 2025 | $22.0B | +21.3% | $3.2B | 14.4% |
| Q1 2025 | $20.4B | +18.4% | $2.6B | 12.6% |
| Q4 2024 | $20.3B | +20.0% | $2.4B | 11.6% |
| Q3 2024 | $19.7B | +26.7% | $2.3B | 11.8% |
| Q2 2024 | $18.1B | +18.1% | $1.5B | 8.0% |
| Q1 2024 | $17.2B | +20.6% | $2.3B | 13.5% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $17.24B | $18.13B | $19.72B | $20.28B | $20.41B | $22.00B | $22.51B | $22.75B |
| YoY Growth | 20.6% | 18.1% | 26.7% | 20.0% | 18.4% | 21.3% | 14.2% | 12.2% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $94.13B | $97.89B | $105.20B | $105.75B | $111.41B | $115.48B | $121.53B | $123.04B |
| Liabilities | $72.32B | $74.55B | $78.04B | $80.15B | $82.45B | $82.88B | $86.09B | $92.72B |
| Equity | $21.81B | $23.34B | $27.16B | $25.59B | $28.95B | $32.60B | $35.45B | $30.32B |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $4.24B | $3.27B | $4.61B | $3.01B | $5.14B | $4.04B | $5.20B | $3.17B |