The Progressive Corporation (PGR)

PGR Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Premiums & Annuity Revenue	79,712	70,799	58,665	49,241	44,369	39,262
Total Interest & Dividend Income	3,364	2,803	1,866	1,236	835.4	916.6
Gain (Loss) on Sale of Investments	417	264	353	-1,912	1,509	1,630
Other Revenue	1,673	1,477	1,199	1,022	963.2	829.9
Total Revenue	85,166	75,343	62,083	49,587	47,677	42,638
Revenue Growth (YoY)	18.35%	21.36%	25.20%	4.01%	11.82%	9.34%
Policy Benefits	52,837	49,060	45,655	38,123	33,628	25,122
Policy Acquisition & Underwriting Costs	17,079	14,845	10,907	9,776	9,368	8,843
Provision for Bad Debts	-	-	-	-	-	1,077
Other Operating Expenses	1,463	446	349	297	252.8	205.5
Total Operating Expenses	71,379	64,351	56,911	48,196	43,248	35,248
Operating Income	13,787	10,992	5,172	1,391	4,429	7,390
Interest Expense	-279	-279	-268	-244	-218.6	-217
EBT Excluding Unusual Items	13,508	10,713	4,904	1,147	4,210	7,173
Impairment of Goodwill	-	-	-	-225	-	-
Pretax Income	13,508	10,713	4,904	922	4,210	7,173
Income Tax Expense	2,795	2,233	1,001	200	859.1	1,469
Earnings From Continuing Ops.	10,713	8,480	3,903	722	3,351	5,705
Net Income	10,713	8,480	3,903	722	3,351	5,705
Preferred Dividends & Other Adjustments	-	17	38	27	26.9	26.9
Net Income to Common	10,713	8,463	3,865	695	3,324	5,678
Net Income Growth	32.06%	117.27%	440.58%	-78.45%	-41.26%	43.68%
Shares Outstanding (Basic)	586	586	585	584	585	585
Shares Outstanding (Diluted)	588	588	588	587	587	588
Shares Change (YoY)	0.06%	0.03%	0.07%	-	-0.08%	0.07%
EPS (Basic)	18.28	14.45	6.61	1.19	5.69	9.71
EPS (Diluted)	18.22	14.40	6.58	1.18	5.66	9.66
EPS Growth	32.41%	118.84%	457.63%	-79.15%	-41.41%	43.75%
Free Cash Flow	17,049	14,834	10,391	6,557	7,518	6,682
Free Cash Flow Per Share	29.00	25.24	17.69	11.17	12.81	11.37
Dividend Per Share	4.900	4.900	1.150	0.400	1.900	4.900
Dividend Growth	326.09%	326.09%	187.50%	-78.95%	-61.22%	84.91%
Operating Margin	16.19%	14.59%	8.33%	2.80%	9.29%	17.33%
Profit Margin	12.58%	11.23%	6.23%	1.40%	6.97%	13.32%
Free Cash Flow Margin	20.02%	19.69%	16.74%	13.22%	15.77%	15.67%
EBITDA	14,093	11,276	5,457	1,697	4,766	7,722
EBITDA Margin	16.55%	14.97%	8.79%	3.42%	10.00%	18.11%
D&A For EBITDA	306	284	285	306	337.4	331.8
EBIT	13,787	10,992	5,172	1,391	4,429	7,390
EBIT Margin	16.19%	14.59%	8.33%	2.80%	9.29%	17.33%
Effective Tax Rate	20.69%	20.84%	20.41%	21.69%	20.41%	20.47%
Revenue as Reported	85,201	75,372	62,109	49,611	47,702	42,658

Updated Oct 15, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.

SEC Filings: 10-K · 10-Q