PROGRESSIVE CORP/OH/

PGR · CIK 0000080661Insurance lens →

19 fiscal years · 68 SEC filings · every number carries its receipt

Revenue (FY)

$87.67B16.3%

FY2025

Net income (FY)

$11.31B33.3%

FY2025

Free cash flow (FY)

$17.20B15.9%

FY2025

Diluted EPS (FY)

$19.2333.5%

FY2025

The story, charted

The shape of the business

FY2007–FY2025 · hover any year for its receipt

Revenue & net incomeRevenueNet income

revenue 6.0× since FY2007 · net margin 8.1% → 12.9%

MarginsNet marginFCF margin

FY2025: net 12.9% · free cash flow 19.6% of revenue

Cash engineOperating cash flowFree cash flow

FY2025: $17.55B operating cash − $348.0M capex = $17.20B free cash flow

Returns on capitalReturn on equityReturn on assets

return on equity -2% (FY2008) → 37% (FY2025) · on assets 9.2%

Balance sheetLiabilitiesEquity

FY2025: $123.04B assets · $92.72B liabilities · $30.32B equity

The receipts

Insurance lens

Specialized rows for insurer companies — not in the generic statement table above.

USD millions (ratios as %)	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014
Premiums earned	81,661	70,799	58,665	49,241	44,369	39,262	36,192	30,933	25,730	22,474	19,899	18,399
Policyholder benefits & claims	53,959	49,060	45,655	38,123	33,628	25,122	25,471	21,721	18,808	16,880	14,342	13,306
Loss ratio	66.1%	69.3%	77.8%	77.4%	75.8%	64.0%	70.4%	70.2%	73.1%	75.1%	72.1%	72.3%

Premiums earned and policyholder benefits & claims are as-reported XBRL components — absent (not zero) for insurance brokers such as Aon and Marsh McLennan, which earn fees and commissions rather than underwriting premiums, so these rows are correctly blank for them. The loss ratio (policyholder benefits ÷ premiums earned) is computed by stonks for full fiscal years only.