Progressive (PGR) Stock Analysis
Here is a fundamental analysis of Progressive (PGR), benchmarking its profitability, financial strength, dividend and valuation against its industry group peers.
Performance
Cumulative Growth
Trailing Returns
Performance at a Glance
| Metric | Current stock: PGR | Industry group median |
|---|---|---|
| 1-Year Return | -19.42% | 8.77% |
Risk
Drawdown
Risk at a Glance
| Metric | Current stock: PGR | Industry group median |
|---|---|---|
| 1-Year Volatility | 22.51% | 27.79% |
| Beta | 0.27 | 0.55 |
Company Profile
| Profile Item | PGR |
|---|---|
| Name | Progressive Corporation |
| Country/Region | United States |
| GICS Sector | Financials |
| GICS Industry Group | Insurance |
| GICS Industry | Insurance |
| GICS Sub-Industry | Property & Casualty Insurance |
| Market Capitalization | 118.51 billion USD |
| Currency | USD |
| Exchange | NYSE |
| Listing Date | March 17, 1980 |
| Security Type | Common Stock |
Valuation
Price-to-Earnings Ratio (TTM)
Progressive (PGR) trades at P/E ratio of 10.33, near the industry’s usual earnings multiple. The stock is not showing a clear peer discount or premium on trailing earnings.
PGR
Insurance industry group
10.33
Group distribution
- Max
- 25.24
- Q3
- 16.46
- Median
- 12.28
- PGR
- 10.33
- Q1
- 8.66
- Min
- 3.44
Largest peers
- MRSH
- 21.09
- AON
- 18.41
- MFC
- 16.19
- AFL
- 13.46
- CB
- 11.60
- PGR
- 10.33
- TRV
- 9.08
Price-to-Sales Ratio (TTM)
Progressive (PGR) trades at 1.33 on P/S ratio, roughly in the peer group’s normal range. The market is not making a strong cheap-or-rich statement about its revenue base.
PGR
Insurance industry group
1.33
Group distribution
- Max
- 3.96
- Q3
- 2.13
- PGR
- 1.33
- Median
- 1.17
- Q1
- 0.82
- Min
- 0.13
Largest peers
- AON
- 4.10
- AFL
- 3.31
- MRSH
- 2.95
- MFC
- 2.10
- CB
- 2.09
- PGR
- 1.33
- TRV
- 1.32
Price-to-Book Ratio (MRQ)
Progressive (PGR) trades at 3.70 on P/B ratio, in the higher book-value quartile. The market is paying a premium to book, so stronger ROE, cleaner assets, or a better growth profile need to justify it.
PGR
Insurance industry group
3.70
Group distribution
- PGR
- 3.70
- Max
- 3.70
- Q3
- 2.21
- Median
- 1.61
- Q1
- 1.12
- Min
- -0.14
Largest peers
- AON
- 7.28
- MRSH
- 5.58
- PGR
- 3.70
- TRV
- 2.02
- AFL
- 2.01
- MFC
- 1.92
- CB
- 1.73
Valuation at a Glance
| Metric | Current stock: PGR | Industry group median |
|---|---|---|
| Price-to-Earnings Ratio (TTM) | 10.33 | 12.28 |
| Price-to-Sales Ratio (TTM) | 1.33 | 1.17 |
| Price-to-Book Ratio (MRQ) | 3.70 | 1.61 |
| Free Cash Flow Yield | -- | -- |
Profitability
Return on Equity (TTM)
Progressive (PGR) posts ROE of 37.90%, in the upper peer quartile. That suggests the company earns more from each dollar of shareholders’ equity than most industry peers, a useful capital-efficiency signal.
PGR
Insurance industry group
37.90%
Group distribution
- Max
- 38.88%
- PGR
- 37.90%
- Q3
- 22.34%
- Median
- 14.13%
- Q1
- 9.51%
- Min
- -6.23%
Largest peers
- AON
- 46.45%
- PGR
- 37.90%
- MRSH
- 27.57%
- TRV
- 25.27%
- AFL
- 16.47%
- CB
- 15.43%
- MFC
- 12.56%
Net Profit Margin (TTM)
Progressive (PGR) keeps 12.93% of revenue as net profit, roughly in line with the peer group’s normal net margin range. Its full cost stack is taking a typical share of sales for the industry.
PGR
Insurance industry group
12.93%
Group distribution
- Max
- 38.86%
- Q3
- 19.36%
- PGR
- 12.93%
- Median
- 11.07%
- Q1
- 5.09%
- Min
- -2.80%
Largest peers
- AFL
- 25.60%
- AON
- 22.54%
- MFC
- 20.04%
- CB
- 18.53%
- TRV
- 15.54%
- MRSH
- 14.26%
- PGR
- 12.93%
Operating Profit Margin (TTM)
operating margin is set aside for Progressive (PGR) in Insurance: the operating-income line is not a clean boundary for this business model, so net margin, ROE, FFO, or industry-specific measures may be more useful.
Profitability at a Glance
| Metric | Current stock: PGR | Industry group median |
|---|---|---|
| Return on Equity (TTM) | 37.90% | 14.13% |
| Return on Assets (TTM) | 7.94% | 2.66% |
| Net Profit Margin (TTM) | 12.93% | 11.07% |
| Operating Profit Margin (TTM) | -- | -- |
| Gross Profit Margin (TTM) | -- | -- |
Financial Strength
Current Ratio (MRQ)
current ratio is set aside for Progressive (PGR) in Insurance: these balance sheets are not best read through a current/non-current split, so regulatory, funding, or liquidity-coverage measures usually matter more.
Debt-to-Equity Ratio (MRQ)
debt-to-equity ratio is set aside for Progressive (PGR) in Insurance: leverage is part of the business model itself, so capital adequacy, funding mix, and regulatory measures are usually better risk gauges.
Financial Strength at a Glance
| Metric | Current stock: PGR | Industry group median |
|---|---|---|
| Current Ratio (MRQ) | -- | -- |
| Debt-to-Equity Ratio (MRQ) | -- | -- |
| Net Debt / EBITDA | -- | -- |
Dividends
Dividend Yield (TTM)
Progressive (PGR) has dividend yield of 6.84%, above the entire industry range. That headline income is large, but yields this far above peers often come from a falling share price or an at-risk payout, so dividend safety matters more than the percentage itself.
PGR
Insurance industry group
6.84%
Group distribution
- PGR
- 6.84%
- Max
- 5.43%
- Q3
- 2.64%
- Median
- 1.35%
- Q1
- 0.00%
- Min
- 0.00%
Largest peers
- PGR
- 6.84%
- MFC
- 3.33%
- MRSH
- 2.13%
- AFL
- 2.07%
- TRV
- 1.64%
- CB
- 1.24%
- AON
- 0.98%
Dividend Payout Ratio (TTM)
Progressive (PGR) has payout ratio of 70.70%, above the industry’s usual payout band. A larger share of earnings is going to dividends, so the cushion narrows if profit weakens.
PGR
Insurance industry group
70.70%
Group distribution
- Max
- 86.52%
- PGR
- 70.70%
- Q3
- 35.43%
- Median
- 14.92%
- Q1
- 0.00%
- Min
- 0.00%
Largest peers
- PGR
- 70.70%
- MFC
- 52.02%
- MRSH
- 43.94%
- AFL
- 26.86%
- AON
- 16.36%
- CB
- 13.72%
- TRV
- 13.13%
Dividends at a Glance
| Metric | Current stock: PGR | Industry group median |
|---|---|---|
| Dividend Yield (TTM) | 6.84% | 1.35% |
| Dividend Payout Ratio (TTM) | 70.70% | 14.92% |