Progressive Financial Statements
NYSE: PGRFinanceProperty-Casualty InsurersUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Progressive revenue and earnings
In fiscal 2025, Progressive generated $87.67 billion in revenue, up 16.3% from fiscal 2024, its 17th consecutive year of revenue growth. Net income was $11.31 billion (+33.3% year over year), for a net margin of 12.9% versus a median of 7.0% in the prior 5 years. Diluted earnings per share came in at $19.23, up from $14.40.
Over the last 5 fiscal years, PGR's revenue has grown at a 15.5% compound annual rate.
Summary generated from market data by MetaCap's automated system. Methodology
Progressive income statement (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 | FY 20172017-12-31 | FY 20162016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 87.67B | 75.37B | 62.11B | 49.61B | 47.70B | 42.66B | 39.02B | 31.98B | 26.84B | 23.44B |
| Revenue growth (YoY) | +16.32% | +21.35% | +25.19% | +4.00% | +11.82% | +9.32% | +22.02% | +19.15% | +14.49% | +12.41% |
| Operating Expenses | 73.45B | 64.66B | 57.20B | 48.69B | 43.49B | 35.48B | 33.86B | 28.82B | 24.70B | 21.97B |
| Interest Expense | 278.00M | 279.00M | 268.00M | 244.00M | 218.60M | 217.00M | 189.70M | 166.50M | 153.10M | 140.90M |
| Pretax Income | 14.22B | 10.71B | 4.90B | 922.00M | 4.21B | 7.17B | 5.16B | 3.16B | 2.14B | 1.47B |
| Income Tax | 2.92B | 2.23B | 1.00B | 200.00M | 859.10M | 1.47B | 1.18B | 542.60M | 540.80M | 413.50M |
| Net Income | 11.31B | 8.48B | 3.90B | 722.00M | 3.35B | 5.70B | 3.97B | 2.62B | 1.59B | 1.03B |
| Net Income growth (YoY) | +33.35% | +117.27% | +440.58% | -78.45% | -41.26% | +43.68% | +51.81% | +64.26% | +54.43% | -18.67% |
| EPS (Basic) | 19.29 | 14.45 | 6.61 | 1.19 | 5.69 | 9.71 | 6.75 | 4.45 | 2.74 | 1.77 |
| EPS (Diluted) | 19.23 | 14.40 | 6.58 | 1.18 | 5.66 | 9.66 | 6.72 | 4.42 | 2.72 | 1.76 |
| Shares Outstanding (Basic) | 586.30M | 585.50M | 584.90M | 584.40M | 584.50M | 584.90M | 583.80M | 582.40M | 580.80M | 581.70M |
| Shares Outstanding (Diluted) | 588.10M | 587.70M | 587.50M | 587.10M | 587.10M | 587.60M | 587.20M | 586.70M | 585.70M | 585.00M |
| Net Margin | 12.90% | 11.25% | 6.28% | 146.00% | 7.02% | 13.37% | 10.17% | 8.18% | 5.93% | 4.40% |
This table shows 10 annual periods of Progressive's income statement, from FY 2025 back to FY 2016, across 11 line items including revenue, operating expenses, interest expense. Values in USD; B = billions, M = millions. Fiscal periods follow PGR's reporting calendar. What is a income statement?