Progressive (PGR) Gross Margin (2023 - 2026)

Progressive has disclosed Gross Margin across 4 years of filings, most recently posting 37.68% for Q1 2026.

• In Q1 2026, Gross Margin rose 42.0% year-over-year to 37.68%; the TTM figure through Mar 2026 stood at 36.14% (up 171.0% YoY), while the FY2025 annual figure was 38.45%, up 354.0% from the prior year.
• Gross Margin fell to 37.68% in Q1 2026, from 37.99% in the prior quarter.
• Over the last five years, Gross Margin for PGR reached as high as 37.99% in Q4 2025 and fell as low as 14.68% in Q4 2023.
• The 4-year median for Gross Margin is 34.26% (2025), against an average of 31.26%.
• Annual changes were most pronounced in 2024 — Gross Margin jumped 2128 bps — and 2025, when it plunged 105 bps.
• A 4-year view of Gross Margin shows it stood at 14.68% in 2023, then jumped by 145 bps to 35.97% in 2024, then increased by 6 bps to 37.99% in 2025, then dropped by 1 bps to 37.68% in 2026.
• According to Business Quant data, Gross Margin over the past three periods registered 37.68%, 37.99%, and 35.51% for Q1 2026, Q4 2025, and Q3 2025 respectively.