The Progressive Corporation (PGR)

PGR Balance Sheet

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Investments in Debt Securities	82,866	75,332	60,378	46,468	43,691
Investments in Equity & Preferred Securities	4,502	4,303	3,831	4,219	6,880
Other Investments	10,005	615	1,790	2,862	942.6
Total Investments	97,373	80,250	65,999	53,548	51,514
Cash & Equivalents	-	143	85	203.5	187.1
Reinsurance Recoverable	4,083	4,765	5,094	5,832	4,981
Other Receivables	15,362	14,963	12,396	10,699	10,142
Deferred Policy Acquisition Cost	2,044	1,961	1,687	1,544	1,356
Property, Plant & Equipment	-	983	1,054	1,165	1,310
Goodwill	-	228	228	227.9	452.7
Other Intangible Assets	-	-	-	-	117.3
Restricted Cash	-	11	15	17.4	15
Other Current Assets	-	478	327	344.2	468.4
Long-Term Deferred Tax Assets	-	996	976	1,174	16.3
Long-Term Deferred Charges	-	121	88	63.4	47.7
Other Long-Term Assets	4,177	846	742	646.2	525.8
Total Assets	123,039	105,745	88,691	75,465	71,132
Accounts Payable	9,118	10,124	6,513	5,522	5,743
Unpaid Claims	43,310	39,057	34,389	30,359	26,164
Unearned Premiums	25,219	23,858	20,134	17,294	15,616
Current Portion of Leases	-	81	-	-	-
Current Income Taxes Payable	-	26	312	10.9	-
Long-Term Debt	6,897	6,893	6,889	6,388	4,899
Long-Term Leases	-	115	177	-	180.9
Long-Term Deferred Tax Liabilities	-	-	-	-	154.4
Other Current Liabilities	7,972	-	-	-	-
Other Long-Term Liabilities	200	-	-	-	143.4
Total Liabilities	92,716	80,154	68,414	59,574	52,901
Preferred Stock, Redeemable	-	-	494	493.9	493.9
Common Stock	30,323	586	585	584.9	584.4
Additional Paid-In Capital	-	2,145	2,013	1,893	1,773
Retained Earnings	-	24,283	18,801	15,721	15,340
Comprehensive Income & Other	-	-1,423	-1,616	-2,802	40.7
Total Common Equity	30,323	25,591	19,783	15,397	17,738
Shareholders' Equity	30,323	25,591	20,277	15,891	18,232
Total Liabilities & Equity	123,039	105,745	88,691	75,465	71,132
Filing Date Shares Outstanding	586.1	586.21	585.68	585.34	584.85
Total Common Shares Outstanding	586.1	585.8	585.3	584.9	584.4
Total Debt	6,897	7,089	7,066	6,388	5,080
Net Cash (Debt)	-6,897	-6,946	-6,981	-6,185	-4,893
Net Cash Per Share	-11.73	-11.82	-11.88	-10.53	-8.33
Book Value Per Share	51.74	43.69	33.80	26.32	30.35
Tangible Book Value	30,323	25,363	19,555	15,169	17,168
Tangible Book Value Per Share	51.74	43.30	33.41	25.93	29.38
Land	-	52	103	123.1	154.1
Buildings	-	576	733	844.1	904.5
Machinery	-	370	353	318.1	261.3

Updated Jan 28, 2026. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.

SEC Filings: 10-K · 10-Q