The Progressive revenue and financials
$212.05Change from previous close: −0.27%Absolute change: −$0.57
In the fiscal year ended December 2025, The Progressive reported revenue of $87.67B (+16.32% year over year). Net income was $11.31B, a net margin of 12.9%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- +16.32%
- 2025 vs 2024
- Net income growth
- +33.35%
- 2025 vs 2024
- Net margin
- 12.9%
- 2024: 11.3%
Financial data
Amounts in millions of USD; per-share values in USD; shares in millions.
| Item | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 3,607 | 4,367 | 3,170 | 5,195 | 4,040 | 5,143 | 3,008 | 4,609 | 3,267 | 4,235 | 2,437 | 3,420 |
| Depreciation and amortization | 82.0 | 75.0 | 83.0 | 81.0 | 79.0 | 70.0 | 76.0 | 70.0 | 68.0 | 70.0 | 73.0 | 71.4 |
| Capital expenditure | -138 | -63.0 | -121 | -66.0 | -102 | — | — | — | — | — | — | — |
| Investing cash flow | -2,921 | 2,637 | -3,099 | -5,047 | -4,040 | -2,341 | -2,942 | -4,420 | -3,263 | -3,124 | -2,346 | -3,352 |
| Financing cash flow | -672 | -6,963 | -118 | -98.0 | -72.0 | -2,749 | -59.0 | -144 | -70.0 | -1,043 | -130 | -109 |
| Dividends paid | -58.0 | -7,972 | -59.0 | -58.0 | -59.0 | -2,695 | -59.0 | -58.0 | -59.0 | -506 | -68.3 | -68.8 |
| Share repurchases | -614 | -478 | -59.0 | -40.0 | -13.0 | — | — | — | — | — | — | — |
| Debt issued | 0.0 | 1,487 | — | — | 0.0 | 0.0 | — | — | — | — | -0.3 | — |
| Net change in cash | 14.0 | 41.0 | -47.0 | 50.0 | -72.0 | 53.0 | 7.0 | 45.0 | -66.0 | 68.0 | -38.5 | -41.1 |
| Free cash flow | 3,469 | 4,304 | 3,049 | 5,129 | 3,938 | 5,084 | 2,898 | 4,552 | 3,199 | 4,185 | 2,355 | 3,383 |
| Levered free cash flow | 3,516 | 3,872 | 1,888 | 5,761 | 3,907 | 203 | 5,134 | 4,404 | 3,541 | 4,179 | 2,358 | 2,776 |