PGR FINANCIAL STATEMENTS

Progressive Corp — balance sheet, income statement and cash flow trends

PGRProgressive Corp

🇺🇸 USA · US · Financial Services · Insurance - Property & Casualty

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue89.4 B $+13.9%

Gross Profit25.4 B $-29.2%

Operating Income14.6 B $+31.4%

EBITDA15.1 B $+30.9%

Net Income11.6 B $+32.6%

Peer Comparison· Insurance - Property & Casualty

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
PGR	—	—	—	12.9%
IFC	—	—	—	12.8%
FFH	—	—	—	15.4%
QBE	—	—	—	8.9%
IAG	—	—	—	6.9%
SUN	—	—	—	5.6%
Industry median	—	—	—	10.8%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity33.8 B $27%
Current Liabilities27.7 B $22%
Long-term Liabilities63 B $51%

Key Figures

YoY change

Total Assets124.5 B $+11.8%

Total Liabilities90.7 B $+10.0%

Total Equity33.8 B $+16.9%

Cash & ST Investments839 M $-92.6%

Total Debt8.4 B $+21.7%

Net Debt8.4 B $+25.2%

Peer Comparison· Insurance - Property & Casualty

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
PGR	0.67	24.8%	0.50	27.2%
IFC	1.69	23.3%	-2.70	33.8%
FFH	2.65	54.0%	0.48	24.2%
QBE	—	35.2%	0.66	23.7%
IAG	—	49.8%	1.48	26.4%
SUN	—	30.6%	0.99	34.1%
Industry median	0.89	27.1%	-0.70	26.4%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
PGR	0.67	24.8%	0.50	27.2%
CB	0.62	24.3%	-2.04	26.8%
TRV	1.31	29.0%	-8.39	22.5%
ALL	0.38	23.7%	0.13	25.5%
CINF	0.29	5.6%	-0.10	38.1%
WRB	1.38	29.2%	-10.67	22.0%
Industry median	0.89	27.1%	-0.70	26.4%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow16.8 B $+4.6%

Capital Expenditures352 M $+19.7%

Free Cash Flow16.4 B $+4.4%

Dividends Paid-8.1 B $-383.8%

Peer Comparison· Insurance - Property & Casualty

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
PGR	18.8%	18.4%	0.4%	145.1%
IFC	15.7%	13.8%	1.9%	123.1%
FFH	4.5%	2.1%	2.4%	29.3%
QBE	17.5%	17.4%	0.1%	195.8%
IAG	6.7%	6.5%	6.7%	97.5%
SUN	20.9%	20.9%	0.0%	373.0%
Industry median	16.6%	15.9%	0.6%	149.9%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
PGR	18.8%	18.4%	0.4%	145.1%
CB	26.0%	26.0%	0.0%	140.7%
TRV	23.4%	23.4%	5.5%	150.5%
ALL	17.4%	17.2%	0.3%	96.4%
CINF	26.8%	26.7%	0.2%	125.4%
WRB	23.7%	22.7%	1.2%	187.7%
Industry median	16.6%	15.9%	0.6%	149.9%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 7, 26. This content is for informational purposes only and is not investment advice.

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
PGR	—	—	—	12.9%
CB	—	—	—	18.5%
TRV	—	—	—	15.5%
ALL	—	—	—	18.1%
CINF	—	—	—	21.3%
WRB	—	—	—	12.6%
Industry median	—	—	—	10.8%