Progressive (PGR) Gross Margin (2023 - 2026)
Progressive's (PGR) quarterly Gross Margin came in at 38.28% in Q2 2026, up 11.0% year-over-year from 34.48% in Q2 2025, and up 1.58% quarter-over-quarter from 37.68% in Q1 2026.
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Analysis
Progressive (PGR) Gross Margin (2023 - 2026) Analysis & Trends
Progressive (PGR) has reported Gross Margin for 4 consecutive years, with 38.28% the latest figure, recorded in Q2 2026.
- On a quarterly basis, Gross Margin rose 11.0% year-over-year to 38.28% in Q2 2026; TTM through Jun 2026 was 38.55%, a 154.0% increase from a year earlier, with the FY2025 full-year figure at 38.45%, up 354.0% from the prior year.
- Gross Margin was 38.28% for Q2 2026 at Progressive, up from 37.68% in the prior quarter.
- Over five years, Gross Margin peaked at 40.28% in Q3 2025 and troughed at 20.73% in Q2 2023.
- A 4-year average of 34.52% and a median of 36.56% in 2024 frame the typical range for Gross Margin.
- Across the five-year window, Gross Margin surged 981 bps in 2024 and gained 11 bps in 2026, its largest moves.
- Over 4 years, Gross Margin stood at 32.08% in 2023, then climbed by 12 bps to 35.97% in 2024, then grew by 6 bps to 37.99% in 2025, then increased by 1 bps to 38.28% in 2026.
- The last three Gross Margin figures came in at 38.28% (Q2 2026), 37.68% (Q1 2026), and 37.99% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Berkshire Hathaway | 1,085.11 Bn | 760.40 Bn | 55.86 Bn | 54.87% |
| 2 | Chubb | 129.51 Bn | 121.21 Bn | 9.13 Bn | 57.69% |
| 3 | Progressive | 120.30 Bn | 115.30 Bn | 9.04 Bn | 38.28% |
| 4 | Marsh & Mclennan Companies | 81.24 Bn | 69.29 Bn | 6.04 Bn | 81.58% |
| 5 | Travelers Companies | 75.54 Bn | 51.79 Bn | 6.23 Bn | 51.27% |
| 6 | Manulife Financial | 75.22 Bn | 76.43 Bn | - | - |
| 7 | Metlife | 61.21 Bn | 34.19 Bn | 7.82 Bn | 40.82% |
| 8 | Aon | 60.67 Bn | 59.43 Bn | - | - |
| 9 | Arthur J. Gallagher | 59.09 Bn | 57.73 Bn | - | - |
| 10 | Allstate | 58.28 Bn | 19.52 Bn | 16.28 Bn | 87.55% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 38.28% |
| Mar 31, 2026 | 37.68% |
| Dec 31, 2025 | 37.99% |
| Sep 30, 2025 | 40.28% |
| Jun 30, 2025 | 38.17% |
| Mar 31, 2025 | 37.26% |
| Dec 31, 2024 | 35.97% |
| Sep 30, 2024 | 36.56% |
| Jun 30, 2024 | 30.54% |
| Mar 31, 2024 | 36.37% |
| Dec 31, 2023 | 32.08% |
| Sep 30, 2023 | 26.82% |
| Jun 30, 2023 | 20.73% |
API Access
Progressive Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=PGR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "PGR", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=PGR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();