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Progressive Corporation（PGR）与Walgreens Boots Alliance（WBA）财务数据对比。点击上方公司名可切换其他公司
Walgreens Boots Alliance的季度营收约是Progressive Corporation的1.7倍（$39.0B vs $22.7B），Progressive Corporation净利率更高（13.0% vs -0.4%，领先13.4%），Progressive Corporation同比增速更快（12.2% vs 7.2%），Progressive Corporation自由现金流更多（$3.0B vs $336.0M），过去两年Progressive Corporation的营收复合增速更高（14.9% vs 4.9%）
美国Progressive Corporation是1937年由杰克·格林与约瑟夫·M·刘易斯联合创立的保险公司，总部位于俄亥俄州梅菲尔德，是美国第二大汽车保险服务商，仅次于州立农业保险。其业务覆盖乘用车、摩托车、房车、船只、商用车等险种，同时通过合作机构提供家财险、寿险、宠物险等多元保险产品。
沃尔格林博姿联合（WBA）是总部位于美国伊利诺伊州迪尔菲尔德的跨国控股企业，2014年12月31日由沃尔格林收购联合博姿剩余55%股权组建而成，此前沃尔格林已持有联合博姿45%股权，本次收购总成本包含49亿美元现金及公允价值107亿美元的普通股。
PGR vs WBA — 直观对比
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $22.7B | $39.0B |
| 净利润 | $3.0B | $-175.0M |
| 毛利率 | — | 16.7% |
| 营业利润率 | 16.2% | 0.1% |
| 净利率 | 13.0% | -0.4% |
| 营收同比 | 12.2% | 7.2% |
| 净利润同比 | 25.3% | -150.9% |
| 每股收益（稀释后） | $5.01 | $-0.20 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
| Q4 25 | $22.7B | — | ||
| Q3 25 | $22.5B | — | ||
| Q2 25 | $22.0B | $39.0B | ||
| Q1 25 | $20.4B | $38.6B | ||
| Q4 24 | $20.3B | $39.5B | ||
| Q3 24 | $19.7B | $37.5B | ||
| Q2 24 | $18.1B | $36.4B | ||
| Q1 24 | $17.2B | $37.1B |
| Q4 25 | $3.0B | — | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $3.2B | $-175.0M | ||
| Q1 25 | $2.6B | $-2.9B | ||
| Q4 24 | $2.4B | $-265.0M | ||
| Q3 24 | $2.3B | $-3.0B | ||
| Q2 24 | $1.5B | $344.0M | ||
| Q1 24 | $2.3B | $-5.9B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 16.7% | ||
| Q1 25 | — | 18.0% | ||
| Q4 24 | — | 17.2% | ||
| Q3 24 | — | 16.7% | ||
| Q2 24 | — | 17.8% | ||
| Q1 24 | — | 19.0% |
| Q4 25 | 16.2% | — | ||
| Q3 25 | 14.8% | — | ||
| Q2 25 | 18.1% | 0.1% | ||
| Q1 25 | 15.9% | -14.4% | ||
| Q4 24 | 14.6% | -0.6% | ||
| Q3 24 | 14.9% | -2.6% | ||
| Q2 24 | 10.3% | 0.3% | ||
| Q1 24 | 17.1% | -35.5% |
| Q4 25 | 13.0% | — | ||
| Q3 25 | 11.6% | — | ||
| Q2 25 | 14.4% | -0.4% | ||
| Q1 25 | 12.6% | -7.4% | ||
| Q4 24 | 11.6% | -0.7% | ||
| Q3 24 | 11.8% | -8.0% | ||
| Q2 24 | 8.0% | 0.9% | ||
| Q1 24 | 13.5% | -15.9% |
| Q4 25 | $5.01 | — | ||
| Q3 25 | $4.45 | — | ||
| Q2 25 | $5.40 | $-0.20 | ||
| Q1 25 | $4.37 | $-3.30 | ||
| Q4 24 | $4.01 | $-0.31 | ||
| Q3 24 | $3.97 | $-3.48 | ||
| Q2 24 | $2.48 | $0.40 | ||
| Q1 24 | $3.94 | $-6.85 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $10.0B | $830.0M |
| 总债务越低越好 | — | $7.4B |
| 股东权益账面价值 | $30.3B | $7.2B |
| 总资产 | $123.0B | $69.4B |
| 负债/权益比越低杠杆越低 | — | 1.03× |
8季度趋势，按日历期对齐
| Q4 25 | $10.0B | — | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $2.1B | $830.0M | ||
| Q1 25 | $2.6B | $1.1B | ||
| Q4 24 | $615.0M | $1.2B | ||
| Q3 24 | $757.0M | $3.1B | ||
| Q2 24 | $733.0M | $703.0M | ||
| Q1 24 | $1.3B | $668.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $7.4B | ||
| Q1 25 | — | $8.0B | ||
| Q4 24 | — | $8.1B | ||
| Q3 24 | — | $9.6B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $30.3B | — | ||
| Q3 25 | $35.4B | — | ||
| Q2 25 | $32.6B | $7.2B | ||
| Q1 25 | $29.0B | $7.1B | ||
| Q4 24 | $25.6B | $9.9B | ||
| Q3 24 | $27.2B | $10.4B | ||
| Q2 24 | $23.3B | $13.6B | ||
| Q1 24 | $21.8B | $13.5B |
| Q4 25 | $123.0B | — | ||
| Q3 25 | $121.5B | — | ||
| Q2 25 | $115.5B | $69.4B | ||
| Q1 25 | $111.4B | $70.2B | ||
| Q4 24 | $105.7B | $78.5B | ||
| Q3 24 | $105.2B | $81.0B | ||
| Q2 24 | $97.9B | $83.0B | ||
| Q1 24 | $94.1B | $84.2B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.03× | ||
| Q1 25 | — | 1.13× | ||
| Q4 24 | — | 0.81× | ||
| Q3 24 | — | 0.92× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $3.2B | $584.0M |
| 自由现金流经营现金流 - 资本支出 | $3.0B | $336.0M |
| 自由现金流率自由现金流/营收 | 13.4% | 0.9% |
| 资本支出强度资本支出/营收 | 0.5% | 0.6% |
| 现金转化率经营现金流/净利润 | 1.07× | — |
| 过去12个月自由现金流最近4个季度 | $17.2B | $580.0M |
8季度趋势，按日历期对齐
| Q4 25 | $3.2B | — | ||
| Q3 25 | $5.2B | — | ||
| Q2 25 | $4.0B | $584.0M | ||
| Q1 25 | $5.1B | $-199.0M | ||
| Q4 24 | $3.0B | $-140.0M | ||
| Q3 24 | $4.6B | $1.3B | ||
| Q2 24 | $3.3B | $604.0M | ||
| Q1 24 | $4.2B | $-637.0M |
| Q4 25 | $3.0B | — | ||
| Q3 25 | $5.1B | — | ||
| Q2 25 | $3.9B | $336.0M | ||
| Q1 25 | $5.1B | $-418.0M | ||
| Q4 24 | $2.9B | $-424.0M | ||
| Q3 24 | $4.6B | $1.1B | ||
| Q2 24 | $3.2B | $327.0M | ||
| Q1 24 | $4.2B | $-989.0M |
| Q4 25 | 13.4% | — | ||
| Q3 25 | 22.8% | — | ||
| Q2 25 | 17.9% | 0.9% | ||
| Q1 25 | 24.9% | -1.1% | ||
| Q4 24 | 14.3% | -1.1% | ||
| Q3 24 | 23.1% | 2.9% | ||
| Q2 24 | 17.6% | 0.9% | ||
| Q1 24 | 24.3% | -2.7% |
| Q4 25 | 0.5% | — | ||
| Q3 25 | 0.3% | — | ||
| Q2 25 | 0.5% | 0.6% | ||
| Q1 25 | 0.3% | 0.6% | ||
| Q4 24 | 0.5% | 0.7% | ||
| Q3 24 | 0.3% | 0.7% | ||
| Q2 24 | 0.4% | 0.8% | ||
| Q1 24 | 0.3% | 1.0% |
| Q4 25 | 1.07× | — | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 1.27× | — | ||
| Q1 25 | 2.00× | — | ||
| Q4 24 | 1.28× | — | ||
| Q3 24 | 1.97× | — | ||
| Q2 24 | 2.24× | 1.76× | ||
| Q1 24 | 1.82× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
PGR
| Other | $11.9B | 52% |
| Commercial Lines Segment | $10.9B | 48% |
| Other Indemnity | $2.0M | 0% |
WBA
| Pharmacy | $24.4B | 63% |
| Retail | $6.3B | 16% |
| International Reportable Segment | $6.2B | 16% |
| US Healthcare | $2.1B | 5% |
