Progressive (PGR) financial statements
- FY2025 revenue
- $87.7B▲ +16.3%
- FY2025 net income
- $11.3B▲ +33.3%
- FY2025 diluted EPS
- $19.23▲ +33.5%
- FY2025 free cash flow
- $17.2B▲ +15.9%
Progressive income statement
| USD millions | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Period ended | 31 Dec 2025 | 31 Dec 2024 | 31 Dec 2023 |
| Revenue | 87,671 | 75,372 | 62,109 |
| Pretax income | 14,223 | 10,713 | 4,904 |
| Net income | 11,308 | 8,480 | 3,903 |
| Diluted earnings per share | 19.23 | 14.40 | 6.58 |
Progressive balance sheet
| USD millions | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Period ended | 31 Dec 2025 | 31 Dec 2024 | 31 Dec 2023 |
| Cash and cash equivalents | 125 | 154 | 100 |
| Total assets | 123,039 | 105,745 | 88,691 |
| Total liabilities | 92,716 | 80,154 | 68,414 |
| Total equity | 30,323 | 25,591 | 20,277 |
Progressive cash flow statement
| USD millions | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Period ended | 31 Dec 2025 | 31 Dec 2024 | 31 Dec 2023 |
| Operating cash flow | 17,548 | 15,119 | 10,643 |
| Capital expenditure | -348 | -285 | -252 |
| Free cash flow (derived) | 17,200 | 14,834 | 10,391 |
| Dividends paid | -2,871 | -674 | -234 |
Quarterly highlights
| USD millions | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 |
|---|---|---|---|---|
| Period ended | 30 Sep 2026 | 30 Jun 2026 | 31 Mar 2026 | 31 Dec 2025 |
| Revenue (derived) | 23,192 | 23,609 | 22,188 | 22,746 |
| Net income (derived) | 2,542 | 3,311 | 2,818 | 2,951 |
| Diluted earnings per share | 4.37 | 5.67 | 4.80 | n/a |
| Operating cash flow (derived) | 4,518 | 3,607 | 4,367 | 3,170 |
| Total assets | 127,744 | 124,925 | 122,209 | 123,039 |
Progressive major shareholders
| Holder | Share of class | Shares | Filed |
|---|---|---|---|
| Vanguard Capital Management | 7.5% | 44,078,585 | 30 April 2026 |
| BlackRock, Inc. | 7.2% | 42,063,844 | 18 July 2025 |
Progressive 10-K and SEC filings
| Filed | Form | Type | Description |
|---|---|---|---|
| 2 November 2026 | 10-Q | Quarterly report | Quarterly report |
| 14 October 2026 | 8-K | Current report | Current report |
| 18 September 2026 | 8-K | Current report | Current report |
| 19 August 2026 | 8-K | Current report | Current report |
| 10 August 2026 | 8-K | Current report | Current report |
| 3 August 2026 | 10-Q | Quarterly report | Quarterly report |
| 15 July 2026 | 8-K | Current report | Current report |
| 17 June 2026 | 8-K | Current report | Current report |
Common questions
What was Progressive's revenue in fiscal 2025?
Progressive reported $87.7 billion in revenue for fiscal 2025, the year ended 31 December 2025, up 16.3% from fiscal 2024.
What was Progressive's net income in fiscal 2025?
Progressive reported net income of $11.3 billion for fiscal 2025, the year ended 31 December 2025, up 33.3% from fiscal 2024. Diluted earnings per share were $19.23.
What was Progressive's free cash flow in fiscal 2025?
Progressive had $17.2 billion in free cash flow in fiscal 2025. Operating cash flow was $17.5 billion and capital expenditure was $348 million.
What were Progressive's total assets at the end of fiscal 2025?
Progressive reported total assets of $123.0 billion at the end of fiscal 2025, the year ended 31 December 2025.
How much Progressive history does each plan include?
Free covers the last 3 fiscal years of annual figures. Basic covers the last 10 fiscal years, annual and quarterly. Pro covers the full history, with first reported values and as of dates.
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