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Progressive (PGR) Stock Analysis

This is a peer-relative look at Progressive (PGR): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Insurance peers, so every number reads in context rather than in isolation.

Company Profile

Company profile fields for Progressive (PGR)
Profile ItemPGR
NameThe Progressive Corporation
Country/RegionUnited States
GICS SectorFinancials
GICS Industry GroupInsurance
GICS IndustryInsurance
GICS Sub-IndustryProperty & Casualty Insurance
Market Capitalization127.23 billion USD
CurrencyUSD
ExchangeNYSE
Listing DateMarch 17, 1980
Security TypeCommon Stock

Price Performance

Cumulative Growth

PGR
GSPC
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Progressive (PGR) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Progressive (PGR) and S&P 500 (GSPC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Progressive (PGR) and S&P 500 (GSPC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Progressive (PGR) metric values compared with Insurance industry-group medians
MetricCurrent stock: PGRIndustry group median
Total Return (1Y)-6.36%11.78%
Total Return (3Y, Annualized)20.92%17.73%
Total Return (5Y, Annualized)20.53%10.19%

Risk Profile

Drawdown History

PGR
GSPC
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Progressive (PGR) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Progressive (PGR) and S&P 500 (GSPC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Progressive (PGR) metric values compared with Insurance industry-group medians
MetricCurrent stock: PGRIndustry group median
Volatility (1Y, Annualized)26.39%28.54%
Beta (5Y)0.240.52
Max Drawdown (5Y)-30.35%-36.69%

Risk-Adjusted Performance

Risk-Return Positioning

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Each dot is a stock plotted by 1-year volatility (risk) and 1-year return. PGR is highlighted; the dashed line is the Capital Allocation Line from the risk-free rate through the industry median — dots above it are stronger on a risk-adjusted basis.

Risk-Adjusted Metrics

Progressive (PGR) metric values compared with Insurance industry-group medians
MetricCurrent stock: PGRIndustry group median
Sharpe Ratio (1Y)-0.400.32
Sortino Ratio (1Y)-0.540.44

Profitability

ROE (TTM)

Progressive (PGR) posts ROE of 34.94%, 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

34.94%

Group distribution
Max
38.99%
PGR
34.94%
Q3
22.13%
Median
15.10%
Q1
10.16%
Min
-3.97%
Largest peers
AON
44.70%
PGR
34.94%
TRV
26.51%
MRSH
25.90%
CB
14.82%
MFC
13.31%
AJG
6.72%
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Where Progressive (PGR) stands on ROE within its Insurance peer group — the box is the group’s distribution and the dots its largest members.

Net Margin (TTM)

Progressive (PGR) keeps 12.85% 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

12.85%

Group distribution
Max
37.68%
Q3
19.27%
PGR
12.85%
Median
11.38%
Q1
5.91%
Min
-10.79%
Largest peers
AON
22.27%
MFC
20.31%
CB
18.07%
TRV
16.95%
MRSH
14.24%
PGR
12.85%
AJG
10.38%
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Where Progressive (PGR) stands on net margin within its Insurance peer group — the box is the group’s distribution and the dots its largest members.

Operating 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 Metrics

Progressive (PGR) metric values compared with Insurance industry-group medians
MetricCurrent stock: PGRIndustry group median
ROE (TTM)34.94%15.10%
ROA (TTM)7.84%3.13%
Net Margin (TTM)12.85%11.38%
Operating Margin (TTM)----
Gross Margin (TTM)----

Growth

Revenue Growth

Progressive (PGR) grew revenue 16.32%, roughly around the peer group's normal range. Top-line momentum looks broadly typical for the industry.

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Progressive (PGR): Revenue Growth across different time periods, set against Insurance industry-group medians.

EPS Growth

Progressive (PGR) grew earnings per share 33.54%, roughly around the peer group's normal range. Bottom-line momentum looks broadly typical for the industry.

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Progressive (PGR): EPS Growth across different time periods, set against Insurance industry-group medians.

Growth Metrics

Progressive (PGR) metric values compared with Insurance industry-group medians
MetricCurrent stock: PGRIndustry group median
Revenue Growth (YoY)16.32%8.15%
Revenue Growth (3Y CAGR)20.90%11.40%
EPS Growth (YoY)33.54%21.77%
EPS Growth (3Y CAGR)153.53%18.46%

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 / Equity (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 Metrics

Progressive (PGR) metric values compared with Insurance industry-group medians
MetricCurrent stock: PGRIndustry group median
Current Ratio (MRQ)----
Debt / Equity (MRQ)----
Net Debt / EBITDA----

Dividends

Dividend Yield (TTM)

Progressive (PGR) has dividend yield of 0.18%, in the industry’s normal income range. It provides a meaningful dividend without the red flag of an unusually high headline yield.

PGR

Insurance industry group

0.18%

Group distribution
Max
4.67%
Q3
2.38%
Median
1.20%
PGR
0.18%
Q1
0.00%
Min
0.00%
Largest peers
MFC
4.15%
MRSH
1.96%
TRV
1.22%
CB
1.13%
AJG
1.01%
AON
0.93%
PGR
0.18%
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Where Progressive (PGR) stands on dividend yield within its Insurance peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

Progressive (PGR) has payout ratio of 69.74%, 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

69.74%

Group distribution
Max
79.14%
PGR
69.74%
Q3
34.33%
Median
15.16%
Q1
0.00%
Min
0.00%
Largest peers
PGR
69.74%
MFC
50.14%
AJG
44.78%
MRSH
43.96%
AON
16.84%
CB
13.93%
TRV
12.23%
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Where Progressive (PGR) stands on payout ratio within its Insurance peer group — the box is the group’s distribution and the dots its largest members.

Dividend Metrics

Progressive (PGR) metric values compared with Insurance industry-group medians
MetricCurrent stock: PGRIndustry group median
Dividend Yield (TTM)0.18%1.20%
Dividend Payout Ratio (TTM)69.74%15.16%

Valuation

P/E Ratio (TTM)

Progressive (PGR) trades at P/E ratio of 10.99, 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

10.99

Group distribution
Max
28.23
Q3
18.78
Median
12.33
PGR
10.99
Q1
8.87
Min
3.24
Largest peers
AJG
43.49
MRSH
22.68
AON
17.82
MFC
16.67
CB
12.10
PGR
10.99
TRV
9.93
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Where Progressive (PGR) stands on P/E ratio within its Insurance peer group — the box is the group’s distribution and the dots its largest members.

P/S Ratio (TTM)

Progressive (PGR) trades at 1.40 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

1.40

Group distribution
Max
4.26
Q3
2.31
PGR
1.40
Median
1.27
Q1
0.92
Min
0.08
Largest peers
AJG
4.46
AON
3.90
MRSH
3.17
MFC
2.22
CB
2.13
TRV
1.57
PGR
1.40
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Where Progressive (PGR) stands on P/S ratio within its Insurance peer group — the box is the group’s distribution and the dots its largest members.

P/B Ratio (MRQ)

Progressive (PGR) trades at 3.71 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

3.71

Group distribution
Max
4.84
PGR
3.71
Q3
2.72
Median
1.92
Q1
1.24
Min
0.45
Largest peers
AON
7.14
MRSH
5.85
PGR
3.71
AJG
2.84
TRV
2.33
MFC
2.01
CB
1.75
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Where Progressive (PGR) stands on P/B ratio within its Insurance peer group — the box is the group’s distribution and the dots its largest members.

Valuation Metrics

Progressive (PGR) metric values compared with Insurance industry-group medians
MetricCurrent stock: PGRIndustry group median
P/E Ratio (TTM)10.9912.33
P/S Ratio (TTM)1.401.27
P/B Ratio (MRQ)3.711.92
Free Cash Flow Yield (TTM)----