Progressive (PGR): analysis in plain words
Is Progressive cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Progressive (PGR) is listed on the NYSE and we classify it in insurance. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Progressive according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Progressive (PGR) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $234.82 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 11.8x | Price over earnings per share |
| Revenue growth | +3.0% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 12.7% | Profit for every 100 of sales |
| Net debt / EBITDA | Not meaningful (financial company) | Years of operating profit to repay debt |
| Dividend yield | 0.17% | Annual dividend over price |
| Market cap | $136.0 billion | What the stock market values it at |
The Progressive figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any PGR figure that is not available shows as N/A: we do not estimate it.
How Progressive makes money
Progressive sells car insurance to individuals, its main business, both directly online and by phone and through independent agents. Its segments are Personal Lines, Commercial Lines, which covers trucks and business vehicles, and Property, which writes homeowners policies. It operates in the United States.
Over the last 12 months, Progressive brought in revenue of $91.7 billion. For every 100 it sells, Progressive keeps 17.3 after the direct cost of what it sells (gross margin) and 14.3 after all operating costs (operating margin). With 70,053 full-time employees, that is about $1 million of revenue per employee.
Progressive against its sector
To know whether a Progressive figure is high or low you have to put it next to similar companies. This table compares Progressive with the median of the 11 insurance companies Fintols covers, with data as of November 4, 2026.
| Figure | Progressive | insurance median |
|---|---|---|
| P/E | 11.8x | 13.1x (11) |
| Revenue growth | +3.0% | +3.0% (11) |
| Net margin | 12.7% | 11.2% (11) |
| Dividend yield | 0.17% | 2.35% (11) |
| ROE | 33.2% | 18.4% (11) |
In short, against the typical insurance company, Progressive pays a lower dividend yield and earns more on its equity. By size, Progressive ranks number 3 of 7 insurance companies quoted in USD on Fintols.
The bull case for Progressive
These are the strengths in the Progressive figures as of November 4, 2026:
- Progressive earns 33.2% a year on its shareholders' money (return on equity), a high figure for a financial company.
The main risk for Progressive
Analysts expect lower Progressive earnings: its P/E on estimated next-12-month earnings rises to 14.5x, from 11.8x on the last 12 months.
And, like the rest of insurance, Progressive is exposed to natural catastrophes and claims above plan, plus swings in the markets where it invests premiums.
Frequently asked questions about Progressive
Is it a good time to buy Progressive stock?
Fintols does not tell you whether to buy or sell Progressive, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Progressive stock trades at $234.82, 2% below its 52-week high ($239.38) and 24% above its low ($189.20). Its P/E is 11.8x against a insurance median of 13.1x, and 14.5x on the earnings analysts expect over the next 12 months. With Progressive, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Progressive pay a dividend?
Yes. As of November 4, 2026, Progressive pays $0.40 per share a year, which at today's price is a yield of 0.17%. It uses 70% of its profit to pay it. Its average dividend yield over the last five years is 0.67%. The insurance median on Fintols is 2.35%.
Is Progressive stock expensive?
It depends on what you compare it with. On P/E, Progressive trades at 11.8x its last 12 months of earnings: in line with the insurance median (13.1x). For a financial company you also look at price to book value: 3.9x (insurance median: 2.2x). A high P/E alone does not make Progressive expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Progressive's competitors?
On Fintols we compare Progressive with Chubb, AIG and Berkshire Hathaway, which are also in insurance. As of November 4, 2026, Chubb is worth $143.0 billion and trades on a P/E of 13.1; AIG is worth $42.7 billion and trades on a P/E of 15.0; Berkshire Hathaway is worth $1.24 trillion and trades on a P/E of 14.6. Each has a side-by-side comparison with Progressive below.
Progressive competitors
- Chubb (CB) analysis · Progressive vs Chubb comparison
- AIG (AIG) analysis · Progressive vs AIG comparison
- Berkshire Hathaway (BRK-B) analysis · Progressive vs Berkshire Hathaway comparison
To understand Progressive better
- How to Read a Balance Sheet: A Beginner's Guide
- P/E Ratio and EPS Explained: How to Read Them Without Traps
More companies like Progressive: insurance stocks and S&P 500 companies. Open the full PGR analysis with its valuation and scenarios. Educational content about Progressive, not investment advice.