Progressive Cash Flow Statement
NYSE: PGRFinanceProperty-Casualty InsurersUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Progressive free cash flow
In fiscal 2025, Progressive generated $17.55 billion of operating cash flow and spent $348.0 million on capital expenditures. That left free cash flow of $17.20 billion, a free-cash-flow margin of 19.6% of revenue. Free cash flow was up 15.9% from the prior year's $14.83 billion.
Progressive returned $2.87 billion to shareholders through dividends, equal to 17% of free cash flow. Free cash flow covered dividend payments 6.0 times.
Summary generated from market data by MetaCap's automated system. Methodology
Progressive cash flow 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | 11.31B | 8.48B | 3.90B | 722.00M | 3.35B | 5.70B | 3.98B | 2.62B | 1.60B | 1.06B |
| Net Income growth (YoY) | +33.35% | +117.27% | +440.58% | -78.45% | -41.26% | +43.33% | +51.85% | +64.01% | +51.16% | -18.71% |
| Depreciation & Amortization | 313.00M | 284.00M | 285.00M | 306.00M | 279.70M | 274.90M | 239.80M | 190.40M | 169.90M | 137.40M |
| Stock-Based Compensation | 132.00M | 122.00M | 121.00M | — | — | — | — | — | — | — |
| Change in Working Capital | 1.56B | 1.24B | 700.00M | 199.00M | 399.70M | 328.90M | 611.60M | 746.60M | 400.00M | 308.90M |
| Operating Cash Flow | 17.55B | 15.12B | 10.64B | 6.85B | 7.76B | 6.91B | 6.26B | 6.28B | 3.76B | 2.73B |
| Capital Expenditures | -348.00M | -285.00M | -252.00M | -292.00M | -243.50M | -223.50M | -363.50M | -266.00M | -155.70M | -215.00M |
| Investing Cash Flow | -14.53B | -13.75B | -10.84B | -7.96B | -3.12B | -6.12B | -4.34B | -7.03B | -3.41B | -2.48B |
| Dividends Paid | -2.87B | -674.00M | -234.00M | -234.00M | -3.75B | -1.55B | -1.64B | -654.90M | -395.40M | -519.00M |
| Share Repurchases | — | — | — | — | — | — | — | — | — | -192.50M |
| Debt Issued | 0 | 0 | 496.00M | 1.49B | 0 | 986.30M | 0 | 1.13B | 841.10M | 495.60M |
| Debt Repaid | — | — | 0 | 0 | -500.00M | 0 | 0 | -37.10M | -49.00M | -25.50M |
| Financing Cash Flow | -3.04B | -1.32B | 78.00M | 1.13B | -4.52B | -938.80M | -1.77B | 549.80M | -300.90M | -250.40M |
| Net Change in Cash | -16.00M | 54.00M | -121.00M | 19.00M | 125.60M | -150.90M | 152.40M | -200.30M | 48.90M | 2.00M |
| Free Cash Flow | 17.20B | 14.83B | 10.39B | 6.56B | 7.52B | 6.68B | 5.90B | 6.02B | 3.60B | 2.52B |
This table shows 10 annual periods of Progressive's cash flow statement, from FY 2025 back to FY 2016, across 14 line items including net income, depreciation & amortization, stock-based compensation. Values in USD; B = billions, M = millions. Fiscal periods follow PGR's reporting calendar. What is a cash flow statement?