Health score, competitive moat, risk signals, and key metrics at a glance.
The Progressive Corporation operates as an insurance company in the United States. It writes insurance for personal autos and special lines products, including motorcycles, RVs, and watercraft; and personal residential property insurance for homeowners and renters. The company also writes auto-related liability and physical damage insurance for comprising dump trucks, log trucks, garbage trucks, tractors, trailers, straight trucks, tow trucks and wreckers, vans, pick-up trucks, and autos; business-related general liability and commercial property insurance for small businesses; and workers' compensation insurance for the transportation industry. In addition, it offers other specialty property-casualty insurance and provides related services; personal property reinsurance products; and involved in investment activities. It sells its products through independent insurance agencies, as well as online and over the phone. The Progressive Corporation was founded in 1937 and is headquartered in Mayfield, Ohio.
Competitive analysis based on 61 quarters of fundamental data
Operating margins are expanding at ~14.5%, suggesting durable pricing power and cost discipline.
ROE averages 25.6% but has fluctuated — the competitive advantage may be cyclical or emerging.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (7 of 7 quarters up), with ~50.2% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 61 quarters
Margins are stable or improving at ~16.2% — no sign of cost or pricing stress.
FCF covers net income by 2.0x on average — earnings are well-supported by cash generation.
D/E ratio is 0.3 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.
as of March 2026
Revenue, EBITDA, operating income, net income, EPS, and shares
Gross, EBITDA, operating, and net margin trends
P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield
Total assets, cash, debt, book value, and leverage
Operating cash flow, free cash flow, FCF margin, and earnings quality
