Progressive Corporation (PGR): financials, SEC filings and peers

Progressive Corporation (PGR) is a property & casualty insurance company in the Financials sector of the S&P 500, headquartered in Mayfield Village, Ohio.

It was founded in 1937 and joined the S&P 500 on August 4, 1997.

Its fiscal year ends in December, and its shares trade on the NYSE.

In its SEC filings it is classified as “Fire, Marine & Casualty Insurance”.

Progressive Corporation at a glance

Revenue (12 months): $91.7B
Revenue growth: +7.7%
Operating margin: 16.4%
Net income (12 months): $11.6B
Free cash flow (12 months): $15.2B
Cash: $156M
Debt: —
Diluted EPS (12 months): $19.86

Twelve months to September 30, 2026, from the 10-Q filed November 2, 2026.

Latest twelve months

Over the twelve months to September 30, 2026, Progressive Corporation reported revenue of $91.7 billion, about the same as a year earlier (+7.7%).

Its operating margin was 16.4%: for every $100 of sales, about $16 was left as operating profit.

Net income was $11.6 billion (12.7% of revenue), 8.5% higher than a year earlier.

Operating cash flow was $15.7 billion and capital spending $438 million, leaving free cash flow of $15.2 billion (16.6% of revenue).

At the end of the period it held $156 million in cash and not reported in debt, a net cash position of $156 million.

The diluted share count fell 1.0% in a year, typically the result of buybacks.

Five-year trend

Revenue went from $42.7 billion in fiscal 2020 to $87.7 billion in fiscal 2025, about 15.5% a year.
Revenue has grown for 5 fiscal years in a row.
Free cash flow was positive in each of the last 6 fiscal years.

Fiscal year	2021	2022	2023	2024	2025
Revenue	$47.7B	$49.6B	$62.1B	$75.4B	$87.7B
Revenue growth	11.8%	4.0%	25.2%	21.4%	16.3%
Operating margin	—	—	—	—	—
Net income	$3.4B	$722M	$3.9B	$8.5B	$11.3B
Free cash flow	$7.5B	$6.6B	$10.4B	$14.8B	$17.2B
Diluted EPS	$5.66	$1.18	$6.58	$14.40	$19.23

Fiscal years as reported in Progressive Corporation’s 10-K filings. Free cash flow is operating cash flow minus capital spending.

Recent SEC filings

10-Q filed November 2, 2026 — quarterly report
8-K filed October 14, 2026 — Earnings results
8-K filed September 18, 2026 — Regulation FD disclosure
8-K filed August 19, 2026 — Regulation FD disclosure
8-K filed August 10, 2026 — Regulation FD disclosure
10-Q filed August 3, 2026 — quarterly report
8-K filed July 15, 2026 — Earnings results

All Progressive Corporation filings on SEC EDGAR

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Questions about Progressive Corporation

Is Progressive Corporation's revenue growing?

Yes. Revenue for the twelve months to September 30, 2026 was $91.7 billion, up 7.7% from a year earlier, according to its SEC filings.

Is Progressive Corporation profitable?

Yes. It earned $11.6 billion in net income over the twelve months to September 30, 2026, a net margin of 12.7%.

When did Progressive Corporation last file financial results?

Its latest quarterly report (10-Q) was filed with the SEC on November 2, 2026.

Which companies are similar to Progressive Corporation?

In the S&P 500, Progressive Corporation is grouped in Property & Casualty Insurance within the Financials sector. Arch Capital Group (ACGL), Allstate (ALL), Chubb Limited (CB), Cincinnati Financial (CINF), Hartford (The) (HIG) are in the same group.

Understand the numbers

Source: Progressive Corporation’s filings with the U.S. Securities and Exchange Commission (EDGAR), retrieved November 11, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.