Progressive (PGR) Operating Expenses (2009 - 2026)
Progressive (PGR) posted Operating Expenses of $19.96 billion for Q3 2026, up 4.0% from $19.19 billion a year earlier and up 2.9% from the prior quarter.
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Analysis
Progressive (PGR) Operating Expenses (2009 - 2026) Analysis & Trends
For the trailing twelve months through Sep 30, 2026, Operating Expenses at Progressive was $77.04 billion, up 7.5% year-over-year; for FY2025, it came in at $73.45 billion, up 13.6% from FY2024.
- Annual Operating Expenses has increased for 16 consecutive years, with a five-year compound annual growth rate of 15.7% (FY2020 to FY2025).
- In prior years, Progressive's Operating Expenses was $64.66 billion in FY2024 (+13.0%), $57.21 billion in FY2023 (+17.5%), $48.69 billion in FY2022 (+11.9%) and $43.49 billion in FY2021 (+22.6%).
- The Q3 2026 figure stands as the highest quarterly Operating Expenses in data going back to Q1 2009.
- On a year-over-year basis, Operating Expenses has increased in each of the last 23 quarters, with growth averaging 12.0% over the last eight quarters.
- The year-over-year growth in Operating Expenses has ranged between 4.0% (Q3 2026) and 22.7% (Q2 2023) over the last five years.
- According to Business Quant data, Operating Expenses for the three prior quarters was $19.4 billion (Q2 2026), $18.62 billion (Q1 2026) and $19.06 billion (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Chubb | 142.34 Bn | 87.98 Bn | 8.67 Bn | 12.79 Bn |
| 2 | Progressive | 136.64 Bn | 136.64 Bn | - | 19.96 Bn |
| 3 | Marsh & Mclennan Companies | 98.05 Bn | 90.21 Bn | - | 5.65 Bn |
| 4 | Travelers Companies | 84.07 Bn | 84.07 Bn | - | 10.04 Bn |
| 5 | Manulife Financial | 76.36 Bn | -18.52 Bn | - | 902.21 Mn |
| 6 | Arthur J. Gallagher | 71.85 Bn | 71.85 Bn | - | - |
| 7 | Aon | 70.83 Bn | 50.04 Bn | - | 3.29 Bn |
| 8 | Allstate | 67.61 Bn | 28.88 Bn | 8.73 Bn | 14.45 Bn |
| 9 | Metlife | 64.94 Bn | -41.84 Bn | 7.82 Bn | 18.12 Bn |
| 10 | Aflac | 62.72 Bn | 37.94 Bn | 2.27 Bn | 3.12 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 19.96 Bn |
| Jun 30, 2026 | 19.40 Bn |
| Mar 31, 2026 | 18.62 Bn |
| Dec 31, 2025 | 19.06 Bn |
| Sep 30, 2025 | 19.19 Bn |
| Jun 30, 2025 | 18.02 Bn |
| Mar 31, 2025 | 17.17 Bn |
| Dec 31, 2024 | 17.31 Bn |
| Sep 30, 2024 | 16.77 Bn |
| Jun 30, 2024 | 16.27 Bn |
| Mar 31, 2024 | 14.30 Bn |
| Dec 31, 2023 | 14.39 Bn |
| Sep 30, 2023 | 14.15 Bn |
| Jun 30, 2023 | 14.92 Bn |
| Mar 31, 2023 | 13.75 Bn |
| Dec 31, 2022 | 12.44 Bn |
| Sep 30, 2022 | 12.64 Bn |
| Jun 30, 2022 | 12.16 Bn |
| Mar 31, 2022 | 11.45 Bn |
| Dec 31, 2021 | 11.29 Bn |
API Access
Progressive Operating Expenses 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=operating-expenses&ticker=PGR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "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=operating-expenses&ticker=PGR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();