The Progressive Corporation (PGR)
NYSE: PGR · Real-Time Price · USD
215.76
+1.93 (0.90%)
At close: Jul 27, 2026, 4:00 PM EDT
215.40
-0.36 (-0.17%)
After-hours: Jul 27, 2026, 7:41 PM EDT
PGR Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Net Income | 11,559 | 11,308 | 8,480 | 3,903 | 722 | 3,351 |
Depreciation & Amortization | 318 | 313 | 284 | 285 | 306 | 337.4 |
Stock-Based Compensation | 16 | 132 | 122 | 121 | 123 | 100.7 |
Other Adjustments | -953 | -835 | -281 | -276 | 2,111 | -1,383 |
Changes in Receivables | -803 | -993 | -2,411 | -1,541 | -1,017 | -1,147 |
Changes in Reinsurance Contract Assets | 554 | 834 | 230 | 784 | -690 | -583.6 |
Changes in Deferred Acquisition Costs | -63 | -83 | -274 | -143 | -189 | -118.4 |
Changes in Accounts Payable | -788 | 1,556 | 1,236 | 700 | 199 | 399.7 |
Changes in Unearned Premiums | 1,281 | 1,361 | 3,724 | 2,840 | 1,678 | 2,111 |
Changes in Claims Reserves | 4,555 | 4,253 | 4,668 | 4,030 | 4,195 | 4,753 |
Changes in Income Taxes Payable | 830 | -200 | -358 | 181 | -515 | -86 |
Changes in Other Operating Activities | -141 | -98 | -241 | -301 | -74 | 26.1 |
Operating Cash Flow | 4,367 | 17,548 | 15,119 | 10,643 | 6,849 | 7,762 |
Operating Cash Flow Growth | -71.58% | 16.07% | 42.06% | 55.40% | -11.76% | 12.40% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Capital Expenditures | -352 | -348 | -285 | -252 | -292 | -243.5 |
Sale of Property, Plant & Equipment | 81 | 80 | 77 | 47 | 35 | 66.2 |
Purchases of Investments | -51,750 | -49,812 | -47,946 | -25,863 | -26,668 | -34,016 |
Proceeds from Sale of Investments | 41,725 | 44,760 | 33,017 | 14,081 | 21,015 | 26,983 |
Cash Acquisitions | - | - | - | - | - | -313.2 |
Other Investing Activities | 747 | -9,207 | 1,388 | 1,145 | -2,046 | 4,404 |
Investing Cash Flow | 2,637 | -14,527 | -13,749 | -10,842 | -7,956 | -3,120 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Long-Term Debt Issued | - | 0 | 0 | 496 | 1,486 | 0 |
Long-Term Debt Repaid | - | - | - | - | - | -520 |
Net Long-Term Debt Issued (Repaid) | - | 0 | 0 | 496 | 1,486 | -520 |
Repurchase of Common Stock | -590 | -166 | -134 | -141 | -99 | -223 |
Net Common Stock Issued (Repurchased) | -590 | -166 | -134 | -141 | -99 | -223 |
Repurchase of Preferred Stock | - | 0 | -500 | 0 | 0 | - |
Net Preferred Stock Issued (Repurchased) | - | 0 | -500 | 0 | 0 | - |
Common Dividends Paid | -8,148 | -2,871 | -674 | -234 | -234 | -3,747 |
Preferred Share Dividends Paid | - | 0 | -8 | -43 | -27 | -26.8 |
Financing Cash Flow | -7,251 | -3,037 | -1,316 | 78 | 1,126 | -4,516 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Net Cash Flow | -28 | -16 | 54 | -121 | 19 | 125.6 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Free Cash Flow | 4,015 | 17,200 | 14,834 | 10,391 | 6,557 | 7,518 |
Free Cash Flow Growth | -73.36% | 15.95% | 42.76% | 58.47% | -12.78% | 12.51% |
FCF Margin | 4.49% | 19.62% | 19.68% | 16.73% | 13.22% | 15.76% |
Free Cash Flow Per Share | 6.83 | 29.25 | 25.24 | 17.69 | 11.17 | 12.77 |
Levered Free Cash Flow | 10,380 | 14,643 | 12,779 | 8,455 | 2,604 | 4,647 |
Unlevered Free Cash Flow | 14,391 | 14,864 | 13,017 | 8,210 | 1,336 | 5,368 |