Progressive underwrites private and commercial auto insurance and specialty lines; it has almost 27 million personal auto policies in force and is one of the largest auto insurers in the United States. Progressive markets its policies through independent insurance agencies in the US and Canada and directly via the internet and telephone. Its premiums are split between the agent and the direct channel. The company also offers commercial auto policies and entered homeowners insurance through an acquisition in 2015.
The chart shows the growth of an initial investment of $10,000 in Progressive Corporation, comparing it to the performance of the S&P 500 index. All prices have been adjusted for splits and dividends.
Returns By Period
Progressive Corporation (PGR) has returned -8.91% so far this year and -22.77% over the past 12 months. Looking at the last ten years, PGR has achieved an annualized return of 18.60%, outperforming the Benchmark (SPY), which averaged 12.23% per year.
PGR
1M-7.20%
6M-20.16%
YTD-8.91%
1Y-22.77%
5Y15.30%
10Y18.60%
Benchmark (SPY)
1M-3.85%
6M-2.35%
YTD-4.36%
1Y34.06%
5Y9.80%
10Y12.23%
Monthly Returns
The table below presents the monthly returns of Progressive Corporation (PGR) with color gradation from worst to best to easily spot seasonal factors.
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
2026
-2.96%
3.22%
-7.26%
-0.97%
2025
2.47%
13.93%
0.22%
-0.62%
2.18%
-5.78%
-9.30%
1.54%
-0.39%
-16.21%
11.49%
-0.56%
2024
11.55%
7.24%
9.31%
0.51%
0.97%
-1.77%
2.32%
16.49%
0.62%
-3.41%
10.49%
-10.69%
2023
5.40%
5.94%
0.11%
-4.44%
-6.14%
3.20%
-4.60%
5.58%
3.67%
13.82%
3.16%
-2.97%
2022
6.01%
-2.14%
8.32%
-5.94%
10.37%
-2.34%
-1.14%
7.12%
-5.25%
9.36%
2.55%
-3.17%
2021
-10.65%
-1.76%
10.56%
5.54%
-2.66%
-1.26%
-3.41%
0.73%
-6.08%
4.61%
-2.00%
9.25%
2020
9.16%
-9.82%
0.33%
8.32%
1.68%
3.04%
12.98%
4.79%
-0.14%
-3.34%
-6.42%
12.56%
2019
13.51%
11.71%
-1.84%
7.57%
1.51%
0.82%
0.05%
-6.42%
2.85%
-10.17%
4.18%
-1.12%
2018
-4.18%
8.33%
5.51%
-1.15%
2.93%
-5.45%
1.76%
12.53%
5.09%
-2.33%
-4.18%
-10.21%
2017
4.76%
6.35%
-1.28%
1.22%
6.53%
3.77%
6.60%
-1.65%
4.08%
0.54%
8.86%
5.61%
2016
-7.18%
2.05%
0.84%
-2.90%
0.15%
-3.31%
0.51%
4.95%
6.67%
Performance Indicators
The charts below present risk-adjusted performance metrics for Progressive Corporation (PGR) and compare them to a Benchmark (SPY). These indicators evaluate an investment's returns against its associated risks.
Sharpe ratio
Sortino ratio
Omega ratio
Calmar ratio
Martin ratio
sharpe ratio
The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.
These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns.
The chart below shows the rolling Sharpe ratio of PGR compared to the benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.
Volatility Chart
The current Progressive Corporation volatility is 1.30%, representing the standart deviation of percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. It shows the maximum percentage drop from a peak to a trough over a specified period, indicating the risk of significant losses. Although chart shows positive values, it represents the percentage drop from the peak, so a value of 10% means the portfolio has dropped 10% from its highest point.
Income Statement
The income statement provides a summary of a company's revenues, expenses, and profits over a specific period. It shows how much money the company earned (revenues) and how much it spent (expenses), leading to the net income or profit. This statement is crucial for understanding a company's financial performance and profitability.
2025
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
Liabilities And Equity (USD)
123.04B
88.69B
75.47B
71.13B
64.10B
54.90B
46.58B
38.70B
33.43B
29.82B
25.79B
24.41B
22.69B
21.84B
21.15B
20.05B
Temporary Equity (USD)
-
-
-
-
-
225.60M
214.50M
503.70M
483.70M
464.90M
-
-
-
-
-
-
Equity Attributable To Parent (USD)
30.32B
20.28B
15.89B
18.23B
17.04B
13.67B
10.82B
9.28B
7.96B
7.29B
6.93B
6.19B
6.01B
5.81B
6.05B
5.75B
Equity Attributable To Noncontrolling Interest (USD)
Progressive's earnings surged from $1 per share in 2022 to nearly $20 in 2025, driven by disciplined underwriting and significant market share gains during a favorable insurance cycle. However, as market conditions soften and competition increases, the company may struggle to maintain these exceptional earnings levels. While Progressive remains a high-quality insurer with a structural underwriting advantage, much of its recent growth was cycle-driven rather than company-specific, making future earnings sustainability uncertain.
The Motley Fool•Bryan White
AI Insight
Progressive is recognized as a high-quality insurer with durable competitive advantages in underwriting and data-driven pricing. However, the article expresses concern about earnings sustainability, noting that recent exceptional performance (EPS near $20) was significantly driven by favorable industry cycle conditions rather than company-specific execution. As the cycle turns and competition increases, the company may need to sacrifice market share to maintain margins, making future earnings less certain despite its structural advantages.
The Schall Law Firm is investigating State Farm, Travelers, and Progressive for allegedly increasing homeowners' insurance deductibles and changing payout calculations from replacement cost to depreciated cash value without adequate disclosure or consent. Affected policyholders are encouraged to join the investigation.
GlobeNewswire Inc.•Schall Law Firm
AI Insight
Company is under investigation for allegedly increasing homeowners' insurance deductibles and changing compensation methods without proper notification or consent from policyholders.
The Progressive Corporation announced the successful pricing of $500 million in 4.60% Senior Notes due 2031 and $1 billion in 5.15% Senior Notes due 2036 in an underwritten public offering. Goldman Sachs and TD Securities served as joint bookrunners for the offering.
GlobeNewswire Inc.•
AI Insight
The company successfully completed a $1.5 billion debt offering at reasonable pricing (99.987% and 99.676% of par), indicating market confidence. However, this is a routine capital raising activity with no material operational or strategic implications disclosed. The pricing near par suggests normal market conditions without distress or exceptional demand.
The Progressive Corporation's Board of Directors declared a quarterly dividend of $0.10 per common share, payable on April 10, 2026, to shareholders of record as of April 2, 2026.
Benzinga•Globe Newswire
AI Insight
The announcement of a regular quarterly dividend demonstrates the company's financial stability and commitment to returning capital to shareholders. Dividend declarations are generally viewed positively as they indicate confidence in the company's cash flow and earnings outlook.
While investor attention remains focused on AI mega-caps and high-growth tech stocks, several large-cap companies are quietly delivering strong performance in 2026. Caterpillar, Oracle, AbbVie, and Progressive are highlighted as steady, profitable performers with consistent earnings and strong balance sheets that offer superior risk-adjusted returns without the hype.
Investing.com•Tafara Tsoka
AI Insight
Showing steady margin improvement and solid relative performance compared to broader financial peers; demonstrating consistent operational execution.
While Berkshire Hathaway's historical outperformance is unlikely to continue at the same pace due to its massive size, the company could still beat the market through strategic cash deployment, opportunistic buybacks, and expanded tech investments under new CEO Greg Abel. Key challenges include underperforming insurance subsidiaries like GEICO and a $382 billion cash position that drags on returns.
The Motley Fool•Matt Frankel, Cfp
AI Insight
Highlighted as outperforming Berkshire's GEICO in the auto insurance market, demonstrating superior technology adoption and market positioning.
The Progressive Corporation announced an Investor Relations event scheduled for March 3, 2026, featuring a 45-minute presentation on capital and investments followed by a Q&A session with CEO Tricia Griffith and CFO John Sauerland. The company will file its Annual Report on Form 10-K on March 2, 2026, and provide webcast replays available until March 4, 2027.
GlobeNewswire Inc.•
AI Insight
The article is a routine announcement of a scheduled investor relations event and annual report filing. There is no indication of positive or negative business developments, financial performance changes, or strategic shifts. It is standard corporate disclosure and communication activity.
The article highlights three undervalued stocks trading at attractive valuations: Sprouts Farmers Market (down 60% from peak but trading at 12x earnings with strong health food industry tailwinds), Progressive Insurance (trading at 13x forward earnings with a 6.7% dividend yield despite revenue growth slowdown), and PayPal (valued at less than 8x earnings with a new CEO incoming and 40% market share in online payments despite competitive pressures).
The Motley Fool•James Brumley
AI Insight
Trading at less than 13x forward earnings with a compelling 6.7% dividend yield. While revenue growth is slowing, the company is making solid absolute dollar progress, and insurance businesses historically perform reliably over multi-year periods with strong actuarial capabilities.
The article identifies six low-beta dividend stocks suitable for volatile market conditions, yielding between 5.8% and 8.4%. These include Apple Hospitality REIT, Campbell's, Kraft Heinz, Flowers Foods, Progressive, and Gaming & Leisure Properties. While offering attractive yields, several face operational challenges including inflation pressures, consumer weakness, and debt concerns.
Investing.com•Brett Owens
AI Insight
Reverting to mean after strong growth period. Modest betas reflect recent struggles. High yield is new and potentially fleeting, driven by special dividends rather than regular payouts. Still trades at 4x book value.
McDonald Capital Investors purchased 86,891 shares of FactSet Research Systems for approximately $24.39 million during Q4, despite the stock declining 45% over the past year. The investment signals confidence in FactSet's subscription-driven data business model with high switching costs and strong renewal rates, despite recent underperformance.
The Motley Fool•Jonathan Ponciano
AI Insight
Mentioned as a top holding in McDonald Capital's portfolio alongside other long-duration compounders, but no specific news or analysis provided about the company itself.
