Progressive (PGR) Gross Margin (2023 - 2026)
Progressive (PGR) recorded Gross Margin of 38.28% in Q2 2026, up 0.11 percentage points from 38.17% a year earlier and up 0.60 percentage points from the prior quarter.
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Analysis
Progressive (PGR) Gross Margin (2023 - 2026) Analysis & Trends
On a TTM basis, Progressive's Gross Margin came in at 38.55% as of Jun 30, 2026, up 1.54 percentage points year-over-year; for FY2025, it came in at 38.45%, up 3.54 percentage points from FY2024.
- Annual Gross Margin has increased for three straight years, with a three-year change of +15.30 percentage points (FY2022 to FY2025).
- Across earlier years, Gross Margin came in at 34.91% in FY2024 (+8.42 pp), 26.49% in FY2023 (+3.34 pp) and 23.16% in FY2022.
- Quarterly Gross Margin has ranged from 20.73% in Q2 2023 to 40.28% in Q3 2025 over the past five years.
- On a year-over-year basis, Gross Margin has increased for nine consecutive quarters, with an average year-over-year change of +3.55 percentage points over the last eight quarters.
- Across the past five years, year-over-year gain in Gross Margin ran from 0.11 percentage points in Q2 2026 to 9.81 percentage points in Q2 2024.
- Per Business Quant, the preceding three quarters came in at 37.68% (Q1 2026), 37.99% (Q4 2025) and 40.28% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Berkshire Hathaway | 1,073.91 Bn | -343.57 Bn | 55.86 Bn | 54.87% |
| 2 | Chubb | 125.44 Bn | 77.50 Bn | 9.13 Bn | 57.69% |
| 3 | Progressive | 120.54 Bn | 96.37 Bn | 9.04 Bn | 38.28% |
| 4 | Marsh & Mclennan Companies | 81.59 Bn | 73.34 Bn | - | - |
| 5 | Travelers Companies | 74.40 Bn | 50.64 Bn | 6.23 Bn | 51.27% |
| 6 | Manulife Financial | 72.53 Bn | 73.74 Bn | - | - |
| 7 | Metlife | 60.06 Bn | -46.42 Bn | 7.82 Bn | 40.82% |
| 8 | Aon | 58.71 Bn | 51.95 Bn | - | - |
| 9 | Arthur J. Gallagher | 58.49 Bn | 52.93 Bn | - | - |
| 10 | Allstate | 56.37 Bn | 17.62 Bn | 8.73 Bn | 46.97% |
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();