Published
{
"ticker": "PGR",
"cik": "0000080661",
"company": "The Progressive Corporation",
"business_type": "insurer",
"schema_template": "insurer (property-casualty): premiums earned, underwriting result, combined ratio, investment income, reserves, book value per share",
"reporting_currency": "USD",
"converted_to_usd": false,
"units": "actual dollars (not millions); ratios and margins are percentages; per-share amounts are actual dollars per common share; policies in force are counts of policies",
"units_notes_seen": {
"FY2025 10-K consolidated statements of comprehensive income (Exhibit 13)": "(millions - except per share amounts)",
"FY2025 10-K consolidated balance sheets (Exhibit 13)": "(millions)",
"FY2025 10-K consolidated statements of cash flows (Exhibit 13)": "(millions)",
"FY2025 10-K underwriting profitability table (Exhibit 13, MD&A)": "($ in millions)",
"FY2025 10-K underwriting performance ratio table (Exhibit 13, MD&A)": "Ratios are expressed as a percentage of net premiums earned (no dollar scale)",
"FY2025 10-K ten year summary of selected financial information (Exhibit 13)": "(millions - except ratios, policies in force, per share amounts, and number of people employed); policies in force are stated in thousands",
"Q2 2026 10-Q consolidated statements of comprehensive income": "(millions - except per share amounts)",
"Q2 2026 10-Q consolidated balance sheets": "(millions)",
"Q2 2026 10-Q consolidated statements of cash flows": "(millions)",
"Q2 2026 10-Q underwriting profitability table (MD&A)": "($ in millions)",
"Q2 2026 10-Q underwriting performance ratio table (MD&A)": "Ratios are expressed as a percentage of net premiums earned (no dollar scale)",
"Q2 2026 10-Q policies in force table (MD&A)": "(# in thousands)"
},
"adjustments": {
"splits_applied": [],
"adr_ratio": null,
"fx": "None. Progressive reports in U.S. dollars only."
},
"source_filings": [
{
"role": "annual",
"current": false,
"form": "10-K",
"fiscal_year": 2025,
"fiscal_period": "FY",
"tag": "FY25",
"period_end": "2025-12-31",
"filed": "2026-03-02",
"accession": "0000080661-26-000086",
"url": "https://www.sec.gov/Archives/edgar/data/80661/000008066126000086/0000080661-26-000086-index.htm",
"source": "reported"
},
{
"role": "quarterly",
"current": true,
"form": "10-Q",
"fiscal_year": 2026,
"fiscal_period": "Q2",
"tag": "FY26Q2",
"period_end": "2026-06-30",
"filed": "2026-08-03",
"accession": "0000080661-26-000308",
"url": "https://www.sec.gov/Archives/edgar/data/80661/000008066126000308/0000080661-26-000308-index.htm",
"source": "facts"
}
],
"annual": [
{
"fiscal_year": 2025,
"label": "FY2025",
"period_start": "2025-01-01",
"period_end": "2025-12-31",
"period_type": "fiscal year",
"source_accession": "0000080661-26-000086",
"income_statement": {
"net_premiums_earned": 81661000000,
"investment_income": 3583000000,
"total_net_realized_gains_losses_on_securities": 727000000,
"fees_and_other_revenues": 1196000000,
"service_revenues": 504000000,
"total_revenues": 87671000000,
"losses_and_loss_adjustment_expenses": 53959000000,
"policy_acquisition_costs": 6096000000,
"other_underwriting_expenses": 11329000000,
"policyholder_credit_expense": 1224000000,
"investment_expenses": 34000000,
"service_expenses": 528000000,
"interest_expense": 278000000,
"total_expenses": 73448000000,
"income_before_income_taxes": 14223000000,
"provision_for_income_taxes": 2915000000,
"net_income": 11308000000,
"net_income_available_to_common_shareholders": 11308000000,
"net_premiums_written": 83174000000,
"basic_shares": 586300000,
"diluted_shares": 588100000,
"basic_eps": 19.29,
"diluted_eps": 19.23
},
"underwriting": {
"pretax_underwriting_profit": 10249000000,
"underwriting_margin_pct": 12.6,
"loss_and_loss_adjustment_expense_ratio": 65.9,
"underwriting_expense_ratio": 21.5,
"combined_ratio": 87.4,
"policies_in_force": 38619000
},
"balance_sheet": {
"total_investments": 97373000000,
"total_cash_and_equivalents_including_restricted": 138000000,
"premiums_receivable_net": 15362000000,
"total_assets": 123039000000,
"unearned_premiums": 25219000000,
"loss_and_loss_adjustment_expense_reserves": 43310000000,
"total_debt": 6897000000,
"total_liabilities": 92716000000,
"total_shareholders_equity": 30323000000,
"book_value_per_share": 51.74,
"common_shares_outstanding": 586100000
},
"cash_flow": {
"operating_cash_flow": 17548000000,
"capex": -348000000,
"dividends_paid_to_common_shareholders": -2871000000,
"free_cash_flow": 17200000000
}
},
{
"fiscal_year": 2024,
"label": "FY2024",
"period_start": "2024-01-01",
"period_end": "2024-12-31",
"period_type": "fiscal year",
"source_accession": "0000080661-26-000086",
"income_statement": {
"net_premiums_earned": 70799000000,
"investment_income": 2832000000,
"total_net_realized_gains_losses_on_securities": 264000000,
"fees_and_other_revenues": 1064000000,
"service_revenues": 413000000,
"total_revenues": 75372000000,
"losses_and_loss_adjustment_expenses": 49060000000,
"policy_acquisition_costs": 5383000000,
"other_underwriting_expenses": 9462000000,
"policyholder_credit_expense": 0,
"investment_expenses": 29000000,
"service_expenses": 446000000,
"interest_expense": 279000000,
"total_expenses": 64659000000,
"income_before_income_taxes": 10713000000,
"provision_for_income_taxes": 2233000000,
"net_income": 8480000000,
"net_income_available_to_common_shareholders": 8463000000,
"net_premiums_written": 74424000000,
"basic_shares": 585500000,
"diluted_shares": 587700000,
"basic_eps": 14.45,
"diluted_eps": 14.4
},
"underwriting": {
"pretax_underwriting_profit": 7958000000,
"underwriting_margin_pct": 11.2,
"loss_and_loss_adjustment_expense_ratio": 69.1,
"underwriting_expense_ratio": 19.7,
"combined_ratio": 88.8,
"policies_in_force": 34952000
},
"balance_sheet": {
"total_investments": 80250000000,
"total_cash_and_equivalents_including_restricted": 154000000,
"premiums_receivable_net": 14369000000,
"total_assets": 105745000000,
"unearned_premiums": 23858000000,
"loss_and_loss_adjustment_expense_reserves": 39057000000,
"total_debt": 6893000000,
"total_liabilities": 80154000000,
"total_shareholders_equity": 25591000000,
"book_value_per_share": 43.69,
"common_shares_outstanding": 585800000
},
"cash_flow": {
"operating_cash_flow": 15119000000,
"capex": -285000000,
"dividends_paid_to_common_shareholders": -674000000,
"free_cash_flow": 14834000000
}
},
{
"fiscal_year": 2023,
"label": "FY2023",
"period_start": "2023-01-01",
"period_end": "2023-12-31",
"period_type": "fiscal year",
"source_accession": "0000080661-26-000086",
"income_statement": {
"net_premiums_earned": 58665000000,
"investment_income": 1892000000,
"total_net_realized_gains_losses_on_securities": 353000000,
"fees_and_other_revenues": 889000000,
"service_revenues": 310000000,
"total_revenues": 62109000000,
"losses_and_loss_adjustment_expenses": 45655000000,
"policy_acquisition_costs": 4665000000,
"other_underwriting_expenses": 6242000000,
"policyholder_credit_expense": 0,
"investment_expenses": 26000000,
"service_expenses": 349000000,
"interest_expense": 268000000,
"total_expenses": 57205000000,
"income_before_income_taxes": 4904000000,
"provision_for_income_taxes": 1001000000,
"net_income": 3903000000,
"net_income_available_to_common_shareholders": 3865000000,
"net_premiums_written": 61550000000,
"basic_shares": 584900000,
"diluted_shares": 587500000,
"basic_eps": 6.61,
"diluted_eps": 6.58
},
"underwriting": {
"pretax_underwriting_profit": 2992000000,
"underwriting_margin_pct": 5.1,
"loss_and_loss_adjustment_expense_ratio": 77.6,
"underwriting_expense_ratio": 17.3,
"combined_ratio": 94.9,
"policies_in_force": 29690000
},
"cash_flow": {
"operating_cash_flow": 10643000000,
"capex": -252000000,
"dividends_paid_to_common_shareholders": -234000000,
"free_cash_flow": 10391000000
},
"balance_sheet": {
"total_assets": 88691000000,
"total_debt": 6889000000,
"total_shareholders_equity": 20277000000,
"book_value_per_share": 33.8,
"common_shares_outstanding": 585300000
}
}
],
"quarterly": [
{
"label": "Q2 2026",
"period_start": "2026-04-01",
"period_end": "2026-06-30",
"period_type": "three months",
"source_accession": "0000080661-26-000308",
"income_statement": {
"net_premiums_earned": 21573000000,
"investment_income": 979000000,
"total_net_realized_gains_losses_on_securities": 604000000,
"fees_and_other_revenues": 305000000,
"service_revenues": 148000000,
"total_revenues": 23609000000,
"losses_and_loss_adjustment_expenses": 14572000000,
"policy_acquisition_costs": 1567000000,
"other_underwriting_expenses": 3009000000,
"investment_expenses": 10000000,
"service_expenses": 154000000,
"interest_expense": 88000000,
"total_expenses": 19400000000,
"income_before_income_taxes": 4209000000,
"provision_for_income_taxes": 898000000,
"net_income": 3311000000,
"basic_shares": 583000000,
"diluted_shares": 584200000,
"basic_eps": 5.68,
"diluted_eps": 5.67,
"net_premiums_written": 21077000000
},
"underwriting": {
"pretax_underwriting_profit": 2730000000,
"underwriting_margin_pct": 12.7,
"loss_and_loss_adjustment_expense_ratio": 67.4,
"underwriting_expense_ratio": 19.9,
"combined_ratio": 87.3,
"policies_in_force": 40086000
},
"balance_sheet": {
"total_investments": 97221000000,
"total_cash_and_equivalents_including_restricted": 193000000,
"premiums_receivable_net": 17106000000,
"total_assets": 124925000000,
"unearned_premiums": 27401000000,
"loss_and_loss_adjustment_expense_reserves": 45567000000,
"total_debt": 8387000000,
"total_liabilities": 90592000000,
"total_shareholders_equity": 34333000000,
"common_shares_outstanding": 581400000,
"book_value_per_share": 59.05,
"book_value_per_share_source": "Reported by Progressive in its June 2026 monthly results release, furnished as Exhibit 99 to the Form 8-K filed 2026-07-15 (accession 0000080661-26-000262), whose balance sheet figures agree line for line with the June 30, 2026 column of the 10-Q."
}
},
{
"label": "Q2 2025",
"period_start": "2025-04-01",
"period_end": "2025-06-30",
"period_type": "three months",
"source_accession": "0000080661-26-000308",
"income_statement": {
"net_premiums_earned": 20310000000,
"investment_income": 871000000,
"total_net_realized_gains_losses_on_securities": 387000000,
"fees_and_other_revenues": 303000000,
"service_revenues": 133000000,
"total_revenues": 22004000000,
"losses_and_loss_adjustment_expenses": 13605000000,
"policy_acquisition_costs": 1511000000,
"other_underwriting_expenses": 2689000000,
"investment_expenses": 9000000,
"service_expenses": 139000000,
"interest_expense": 69000000,
"total_expenses": 18022000000,
"income_before_income_taxes": 3982000000,
"provision_for_income_taxes": 807000000,
"net_income": 3175000000,
"basic_shares": 586200000,
"diluted_shares": 587800000,
"basic_eps": 5.42,
"diluted_eps": 5.4,
"net_premiums_written": 20076000000
},
"underwriting": {
"pretax_underwriting_profit": 2808000000,
"underwriting_margin_pct": 13.8,
"loss_and_loss_adjustment_expense_ratio": 66.8,
"underwriting_expense_ratio": 19.4,
"combined_ratio": 86.2,
"policies_in_force": 37315000
},
"balance_sheet": {
"total_investments": 88610000000,
"total_cash_and_equivalents_including_restricted": 135000000,
"premiums_receivable_net": 16406000000,
"total_assets": 115480000000,
"unearned_premiums": 26335000000,
"loss_and_loss_adjustment_expense_reserves": 41154000000,
"total_debt": 6895000000,
"total_liabilities": 82876000000,
"total_shareholders_equity": 32604000000,
"common_shares_outstanding": 586000000,
"book_value_per_share": 55.64,
"book_value_per_share_basis": "Total shareholders' equity of $32,604 million divided by the 586 million common shares outstanding shown on the 10-Q balance sheet (798 million issued less 212 million treasury shares). The share count is rounded to millions on the face of the balance sheet, so this figure is approximate to about a cent."
}
}
],
"year_to_date": {
"label": "Six months ended June 30, 2026",
"period_start": "2026-01-01",
"period_end": "2026-06-30",
"period_type": "six months",
"source_accession": "0000080661-26-000308",
"income_statement": {
"net_premiums_earned": 42541000000,
"investment_income": 1896000000,
"total_net_realized_gains_losses_on_securities": 484000000,
"fees_and_other_revenues": 602000000,
"service_revenues": 274000000,
"total_revenues": 45797000000,
"losses_and_loss_adjustment_expenses": 28399000000,
"policy_acquisition_costs": 3105000000,
"other_underwriting_expenses": 6057000000,
"investment_expenses": 18000000,
"service_expenses": 285000000,
"interest_expense": 158000000,
"total_expenses": 38022000000,
"income_before_income_taxes": 7775000000,
"provision_for_income_taxes": 1646000000,
"net_income": 6129000000,
"basic_shares": 584300000,
"diluted_shares": 585600000,
"basic_eps": 10.49,
"diluted_eps": 10.47,
"net_premiums_written": 44718000000
},
"underwriting": {
"pretax_underwriting_profit": 5582000000,
"underwriting_margin_pct": 13.1,
"loss_and_loss_adjustment_expense_ratio": 66.7,
"underwriting_expense_ratio": 20.2,
"combined_ratio": 86.9
},
"cash_flow": {
"operating_cash_flow": 7974000000,
"capex": -201000000,
"dividends_paid_to_common_shareholders": -8030000000,
"free_cash_flow": 7773000000
}
},
"prior_year_to_date": {
"label": "Six months ended June 30, 2025",
"period_start": "2025-01-01",
"period_end": "2025-06-30",
"period_type": "six months",
"source_accession": "0000080661-26-000308",
"income_statement": {
"net_premiums_earned": 39719000000,
"investment_income": 1685000000,
"total_net_realized_gains_losses_on_securities": 175000000,
"fees_and_other_revenues": 590000000,
"service_revenues": 244000000,
"total_revenues": 42413000000,
"losses_and_loss_adjustment_expenses": 26409000000,
"policy_acquisition_costs": 2967000000,
"other_underwriting_expenses": 5408000000,
"investment_expenses": 16000000,
"service_expenses": 256000000,
"interest_expense": 139000000,
"total_expenses": 35195000000,
"income_before_income_taxes": 7218000000,
"provision_for_income_taxes": 1476000000,
"net_income": 5742000000,
"basic_shares": 586100000,
"diluted_shares": 587700000,
"basic_eps": 9.8,
"diluted_eps": 9.77,
"net_premiums_written": 42282000000
},
"underwriting": {
"pretax_underwriting_profit": 5525000000,
"underwriting_margin_pct": 13.9,
"loss_and_loss_adjustment_expense_ratio": 66.3,
"underwriting_expense_ratio": 19.8,
"combined_ratio": 86.1
},
"cash_flow": {
"operating_cash_flow": 9183000000,
"capex": -161000000,
"dividends_paid_to_common_shareholders": -2754000000,
"free_cash_flow": 9022000000
}
},
"trailing_twelve_months": {
"label": "Trailing twelve months ended June 30, 2026",
"period_start": "2025-07-01",
"period_end": "2026-06-30",
"period_type": "trailing twelve months",
"source_accession": "0000080661-26-000308",
"derivation": "FY2025 as reported in the 10-K (accession 0000080661-26-000086) less the six months ended June 30, 2025 plus the six months ended June 30, 2026, both as reported in the 10-Q (accession 0000080661-26-000308).",
"income_statement": {
"net_premiums_earned": 84483000000,
"investment_income": 3794000000,
"total_net_realized_gains_losses_on_securities": 1036000000,
"fees_and_other_revenues": 1208000000,
"service_revenues": 534000000,
"total_revenues": 91055000000,
"losses_and_loss_adjustment_expenses": 55949000000,
"policy_acquisition_costs": 6234000000,
"other_underwriting_expenses": 11978000000,
"investment_expenses": 36000000,
"service_expenses": 557000000,
"interest_expense": 297000000,
"total_expenses": 76275000000,
"income_before_income_taxes": 14780000000,
"provision_for_income_taxes": 3085000000,
"net_income": 11695000000,
"policyholder_credit_expense": 1224000000,
"diluted_eps": 19.93
},
"cash_flow": {
"operating_cash_flow": 16339000000,
"capex": -388000000,
"dividends_paid_to_common_shareholders": -8147000000,
"free_cash_flow": 15951000000
}
},
"notes": [
"Progressive is a property-casualty insurer, so this record uses an insurer schema: net premiums earned and written, underwriting profit and the combined ratio, investment income, loss and loss adjustment expense reserves, unearned premiums, policies in force and book value per common share. Revenue/cost-of-goods/capex framing does not describe this business.",
"The FY2025, FY2024 and FY2023 figures come from the Form 10-K for the year ended December 31, 2025 (accession 0000080661-26-000086). Progressive's audited consolidated financial statements are not printed in the body of that 10-K: they are filed as Exhibit 13 to it (the 2025 Annual Report to Shareholders) and incorporated by reference into Item 8. Every annual figure here was read from that exhibit.",
"The quarterly, six-month and balance-sheet figures come from the Form 10-Q for the quarter ended June 30, 2026 (accession 0000080661-26-000308).",
"Quarterly entries hold discrete three-month periods only. The six-month columns the 10-Q prints beside them are kept separately in 'year_to_date' (six months ended June 30, 2026) and 'prior_year_to_date' (six months ended June 30, 2025) so that no cumulative figure is ever read as a quarter.",
"The quarterly entries carry no cash flow statement. Progressive's 10-Q presents cash flows for the six months ended June 30 only, with no three-month column, and the first-quarter cash flows needed to difference one out are not in either of the two filings this record is built from. The six-month cash flows are reported in full in 'year_to_date' and 'prior_year_to_date'.",
"'trailing_twelve_months' is derived, not filed: full-year 2025 as reported in the 10-K, less the six months ended June 30, 2025, plus the six months ended June 30, 2026, both as reported in the 10-Q. Trailing-twelve-month diluted earnings per share of $19.93 is the same combination applied to the reported per-share amounts ($19.23 - $9.77 + $10.47); no weighted average share count is published for a trailing twelve month period, so none is shown.",
"The 10-K's consolidated balance sheet presents December 31, 2025 and 2024 only. The FY2023 balance-sheet items shown here (total assets, debt outstanding, total shareholders' equity, book value per common share and common shares outstanding) are the ones printed in the 10-K's ten-year summary of selected financial information; no full December 31, 2023 balance sheet is presented, so total liabilities and the individual asset and liability captions are not reported for that year.",
"Book value per common share for FY2023 is the figure Progressive publishes, which divides equity attributable to common shareholders by common shares outstanding. It is lower than total shareholders' equity per share for that year because $494 million of Serial Preferred Shares, Series B, were still outstanding at December 31, 2023; those shares were redeemed in February 2024.",
"Earnings per share for FY2024 and FY2023 is struck on net income available to common shareholders ($8,463 million and $3,865 million), which is net income less preferred share dividends. From FY2025 onward there is no preferred stock outstanding, so the two figures are the same.",
"FY2025 expenses include a $1,224 million policyholder credit expense, which the filing attributes to a Florida statute limiting the profit an insurance group may earn on personal auto insurance over any contiguous three-accident-year period. There was no such expense in FY2024 or FY2023. The 10-Q reports that $1.2 billion of those credits were paid in the first quarter of 2026, which is why six-month 2026 operating cash flow is below the same period of 2025 even though earnings rose.",
"Free cash flow is operating cash flow less purchases of property and equipment. For an insurer this is a weak measure of discretionary cash: the great majority of Progressive's investing activity is the purchase and sale of investment securities funded by policyholder float, not capital spending.",
"Combined ratios, underwriting margins and the loss and underwriting expense ratios shown here are Progressive's total underwriting operations figures on a GAAP basis, as presented in the underwriting performance tables of the 10-K's Exhibit 13 and of the 10-Q. The 10-K's ten-year summary separately quotes a statutory combined ratio, which is calculated on a different basis and is not what is reported here.",
"Net premiums written for the fiscal years is the figure printed in the 10-K's ten-year summary of selected financial information. The 10-Q does not present net premiums written in dollars, so the quarterly and six-month figures come instead from Progressive's June 2026 monthly results release (Exhibit 99 to the Form 8-K filed 2026-07-15, accession 0000080661-26-000262), which reports $21,077 million for the quarter ended June 30, 2026 and $20,076 million for the quarter ended June 30, 2025, and $44,718 million and $42,282 million for the six months ended June 30, 2026 and 2025.",
"Total debt is the single 'Debt' caption on the face of each balance sheet. At December 31, 2025 it consisted solely of long-term debt; at June 30, 2026 it consists of both short-term and long-term debt and includes $1.5 billion of senior notes issued in the first quarter of 2026.",
"Book value per common share at June 30, 2026 of $59.05 and the 581.4 million common shares outstanding behind it are the figures Progressive published in its June 2026 monthly results release (Exhibit 99 to the Form 8-K filed 2026-07-15, accession 0000080661-26-000262); that release's balance sheet agrees line for line with the June 30, 2026 column of the 10-Q. The June 30, 2025 figure is derived instead, because no corresponding release is part of this record.",
"Policies in force are counts of policies, not dollars. The June 30, 2026 and June 30, 2025 counts are the companywide totals printed in the 10-Q. The fiscal-year counts are the sum of the Personal Lines and Commercial Lines counts printed in the 10-K's ten-year summary, which does not print a companywide total.",
"Progressive has had no stock splits in the period covered, reports in U.S. dollars, and is not an ADR, so no split, currency or per-ADS adjustment has been applied."
],
"uncertainties": [
"Book value per common share at June 30, 2025 ($55.64) is derived, not printed. It divides total shareholders' equity of $32,604 million by the 586 million common shares outstanding implied by the 10-Q balance sheet (798 million issued less 212 million treasury shares). Because that share count is rounded to the nearest million on the face of the filing, the result could be off by a cent or two.",
"Fiscal-year policies in force (38.6 million for 2025, 35.0 million for 2024 and 29.7 million for 2023) are sums of the two segment counts the 10-K prints; the filing does not print a companywide year-end total, so these are additions rather than quoted figures.",
"Trailing-twelve-month figures are arithmetic on reported periods and are not a statement Progressive files. Where the company later restates a quarter, they would move.",
"No three-month cash flow figures are reported for either quarter. The 10-Q's cash flow statement covers the six months only, and the earlier quarter needed to difference one out is not in the filings this record covers.",
"No December 31, 2023 balance sheet is reported beyond the handful of items the ten-year summary prints, because the 10-K's balance sheet presents only 2025 and 2024."
],
"headline": {
"period": "Q2 FY2026",
"period_end_words": "June 30, 2026",
"metrics": [
{
"label": "Revenue",
"format": "usd",
"value": 23609000000,
"text": "$23.61 billion",
"exact": "$23,609,000,000",
"compact": "$23.61B",
"abs": "$23.61 billion",
"prior_value": 22004000000,
"prior": "$22.00 billion",
"priorabs": "$22.00 billion",
"yoy": "up 7.3%",
"source": {
"array": "quarterly",
"field": "income_statement.total_revenues",
"index": 0,
"period_label": "Q2 2026",
"period_end": "2026-06-30",
"period_start": "2026-04-01",
"span_days": 90,
"source_accession": "0000080661-26-000308",
"prior_index": 1,
"prior_period_label": "Q2 2025",
"prior_period_end": "2025-06-30",
"prior_period_start": "2025-04-01",
"prior_span_days": 90,
"prior_source_accession": "0000080661-26-000308",
"gap_days": 365
}
},
{
"label": "Net income",
"format": "usd",
"value": 3311000000,
"text": "$3.31 billion",
"exact": "$3,311,000,000",
"compact": "$3.31B",
"abs": "$3.31 billion",
"prior_value": 3175000000,
"prior": "$3.17 billion",
"priorabs": "$3.17 billion",
"yoy": "up 4.3%",
"source": {
"array": "quarterly",
"field": "income_statement.net_income",
"index": 0,
"period_label": "Q2 2026",
"period_end": "2026-06-30",
"period_start": "2026-04-01",
"span_days": 90,
"source_accession": "0000080661-26-000308",
"prior_index": 1,
"prior_period_label": "Q2 2025",
"prior_period_end": "2025-06-30",
"prior_period_start": "2025-04-01",
"prior_span_days": 90,
"prior_source_accession": "0000080661-26-000308",
"gap_days": 365
}
},
{
"label": "Diluted EPS",
"format": "eps",
"value": 5.67,
"text": "$5.67",
"exact": "$5.67",
"compact": "$5.67",
"abs": "$5.67",
"prior_value": 5.4,
"prior": "$5.40",
"priorabs": "$5.40",
"yoy": "up 5.0%",
"source": {
"array": "quarterly",
"field": "income_statement.diluted_eps",
"index": 0,
"period_label": "Q2 2026",
"period_end": "2026-06-30",
"period_start": "2026-04-01",
"span_days": 90,
"source_accession": "0000080661-26-000308",
"prior_index": 1,
"prior_period_label": "Q2 2025",
"prior_period_end": "2025-06-30",
"prior_period_start": "2025-04-01",
"prior_span_days": 90,
"prior_source_accession": "0000080661-26-000308",
"gap_days": 365
}
},
{
"label": "Net premiums earned",
"format": "usd",
"value": 21573000000,
"text": "$21.57 billion",
"exact": "$21,573,000,000",
"compact": "$21.57B",
"abs": "$21.57 billion",
"prior_value": 20310000000,
"prior": "$20.31 billion",
"priorabs": "$20.31 billion",
"yoy": "up 6.2%",
"source": {
"array": "quarterly",
"field": "income_statement.net_premiums_earned",
"index": 0,
"period_label": "Q2 2026",
"period_end": "2026-06-30",
"period_start": "2026-04-01",
"span_days": 90,
"source_accession": "0000080661-26-000308",
"prior_index": 1,
"prior_period_label": "Q2 2025",
"prior_period_end": "2025-06-30",
"prior_period_start": "2025-04-01",
"prior_span_days": 90,
"prior_source_accession": "0000080661-26-000308",
"gap_days": 365
}
},
{
"label": "Combined ratio",
"format": "pct",
"value": 87.3,
"text": "87.3%",
"exact": "87.3%",
"compact": "87.3%",
"abs": "87.3%",
"prior_value": 86.2,
"prior": "86.2%",
"priorabs": "86.2%",
"yoy": "up 1.1 points",
"source": {
"array": "quarterly",
"field": "underwriting.combined_ratio",
"index": 0,
"period_label": "Q2 2026",
"period_end": "2026-06-30",
"period_start": "2026-04-01",
"span_days": 90,
"source_accession": "0000080661-26-000308",
"prior_index": 1,
"prior_period_label": "Q2 2025",
"prior_period_end": "2025-06-30",
"prior_period_start": "2025-04-01",
"prior_span_days": 90,
"prior_source_accession": "0000080661-26-000308",
"gap_days": 365
}
}
],
"summary": "Progressive reported $23.61 billion in total revenues for Q2 FY2026, the quarter ended June 30, 2026, up 7.3% from a year earlier, and net income of $3.31 billion, up 4.3%, or $5.67 per diluted share. The growth came from the insurance book, where net premiums earned reached $21.57 billion, up 6.2%, while margin narrowed: the combined ratio was 87.3%, up 1.1 points, as higher bodily injury claim severity and heavier advertising spending absorbed more of each premium dollar. The earnings increase came from investment results rather than from underwriting profit, which slipped below the year-ago level, and most of that gain was in net realized gains on securities rather than in recurring investment income.",
"qa": [
{
"q": "How much did Progressive earn in Q2 FY2026?",
"a": "Progressive reported net income of $3.31 billion for Q2 FY2026, the quarter ended June 30, 2026, or $5.67 per diluted share. That is up 4.3% from $3.17 billion in the same quarter a year earlier, an increase that came from investment results, chiefly higher net realized gains on securities rather than recurring investment income, and not from underwriting profit."
},
{
"q": "How much revenue did Progressive report in Q2 FY2026?",
"a": "Progressive reported $23.61 billion in total revenues for Q2 FY2026, the quarter ended June 30, 2026, up 7.3% from $22.00 billion a year earlier. Net premiums earned, by far the largest component, were $21.57 billion, up 6.2%."
},
{
"q": "What was Progressive's combined ratio in Q2 FY2026?",
"a": "Progressive's combined ratio was 87.3% in Q2 FY2026, up 1.1 points from 86.2% a year earlier. The ratio measures claims and expenses as a share of premiums earned, so the rise means the underwriting margin narrowed even though the business stayed profitable before investment results."
},
{
"q": "What was Progressive's earnings per share in Q2 FY2026?",
"a": "Progressive reported diluted earnings per share of $5.67 for Q2 FY2026, the quarter ended June 30, 2026. That is up 5.0% from $5.40 in the same quarter a year earlier, on a slightly smaller diluted share count."
}
]
},
"company_details": {
"Name": "Progressive Corp/Oh/",
"Ticker": "PGR",
"CIK": "0000080661",
"Exchange": "NYSE",
"State": "Ohio",
"Incorporation": "Ohio",
"SIC": "6331",
"Office": "Finance",
"Industry": "Fire, Marine & Casualty Insurance"
},
"next_filing": {
"predicted_date": "2026-11-02",
"predicted_type": "10-Q"
},
"fiscal_period": {
"fiscal_year": 2026,
"fiscal_period": "Q2",
"tag": "FY26Q2",
"period_end": "2026-06-30",
"form": "10-Q",
"accession": "0000080661-26-000308",
"fiscal_year_end": "1231",
"source": "facts"
}
}