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The Progressive Corporation (PGR)
NYSE: PGR · Real-Time Price · USD
219.62
+0.51 (0.23%)
Oct 20, 2026, 10:15 AM EDT - Market open

PGR Cash Flow Statement

Millions USD. Fiscal year is Jan - Dec.

Operating Activities

Fiscal Year
FY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Net Income
11,3088,4803,9037223,351
Depreciation & Amortization
313284285306337.4
Gain (Loss) on Sale of Assets
161336-1-3.6
Gain (Loss) on Sale of Investments
-851-294-3121,887-1,379
Stock-Based Compensation
132122121123100.7
Change in Accounts Receivable
-993-2,411-1,541-1,017-1,147
Reinsurance Recoverable
682329738-852-508.7
Change in Accounts Payable
1,5561,236700199399.7
Change in Unearned Revenue
1,3613,7242,8401,6782,111
Change in Income Taxes
-200-358181-515-86
Change in Insurance Reserves / Liabilities
4,2534,6684,0304,1954,753
Change in Other Net Operating Assets
54-400-19588-48.8
Operating Cash Flow
17,54815,11910,6436,8497,762
Operating Cash Flow Growth
16.07%42.06%55.40%-11.76%12.40%

Investing Activities

Fiscal Year
FY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Capital Expenditures
-348-285-252-292-243.5
Sale of Property, Plant & Equipment
8077473566.2
Cash Acquisitions
-----313.2
Investment in Securities
-14,334-13,712-10,626-7,521-2,677
Other Investing Activities
75171-11-17847.9
Investing Cash Flow
-14,527-13,749-10,842-7,956-3,120

Financing Activities

Fiscal Year
FY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Long-Term Debt Issued
--4961,486-
Total Debt Repaid
-----520
Net Debt Issued (Repaid)
--4961,486-520
Repurchases of Common Stock
-166-134-141-99-223
Repurchases of Preferred Stock
--500---
Common Dividends Paid
-2,871-674-234-234-3,747
Preferred Dividends Paid
--8-43-27-26.8
Total Dividends Paid
-2,871-682-277-261-3,773
Financing Cash Flow
-3,037-1,316781,126-4,516

Net Cash Flow

Fiscal Year
FY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Net Cash Flow
-1654-12119125.6

Free Cash Flow

Fiscal Year
FY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Free Cash Flow
17,20014,83410,3916,5577,518
Free Cash Flow Growth
15.95%42.76%58.47%-12.78%12.51%
Free Cash Flow Margin
19.63%19.69%16.74%13.22%15.77%
Free Cash Flow Per Share
29.2525.2417.6911.1712.81
Levered Free Cash Flow
11,83217,32811,5143,31010,725
Unlevered Free Cash Flow
12,00617,50211,6823,46210,861

Additional Metrics

Fiscal Year
FY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Cash Interest Paid
276276265229224
Cash Income Tax Paid
3,1072,585821719842.4
Change in Working Capital
6,6306,5146,6103,5875,355
SEC Filings: 10-K · 10-Q