Progressive (PGR) Operating Margin (2023 - 2026)
Progressive (PGR) posted quarterly Operating Margin of 46.25% for Q1 2026, up 64.0% YoY from 28.2% in Q1 2025, and down 116.7% sequentially from 276.93% in Q4 2025.
Progressive (PGR) Operating Margin (2023 - 2026) Analysis & Trends
Progressive has disclosed Operating Margin across 4 years of filings, most recently posting 46.25% for Q1 2026.
- In Q1 2026, Operating Margin rose 64.0% year-over-year to 46.25%; the TTM figure through Mar 2026 stood at 55.34% (up 14730.0% YoY), while the FY2025 annual figure was 38.41%, up 8929.0% from the prior year.
- Operating Margin retreated to 46.25% in Q1 2026, from 276.93% in the prior quarter.
- Over the last five years, Operating Margin for PGR reached as high as 276.93% in Q4 2025 and fell as low as 410.56% in Q4 2023.
- The 4-year median for Operating Margin is 56.52% (2024), against an average of 63.45%.
- The widest YoY moves for Operating Margin: up 55976 bps in 2025, down 9305 bps in 2025.
- A 4-year view of Operating Margin shows it stood at 410.56% in 2023, then soared by 31 bps to 282.83% in 2024, then soared by 198 bps to 276.93% in 2025, then slumped by 117 bps to 46.25% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 46.25%, 276.93%, and 56.53% for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Markel | 7,105.55 Bn | 7,090.09 Bn | 2.38 Bn | -7.70% |
| 2 | Progressive | 131.92 Bn | 127.57 Bn | 8.36 Bn | -46.25% |
| 3 | Chubb | 78.78 Bn | 71.35 Bn | 8.64 Bn | 11.57% |
| 4 | Cincinnati Financial | 74.32 Bn | 73.06 Bn | 2.60 Bn | 12.21% |
| 5 | Travelers Companies | 72.03 Bn | 48.11 Bn | 5.54 Bn | 8.45% |
| 6 | Allstate | 63.08 Bn | 38.49 Bn | 14.72 Bn | 5.54% |
| 7 | Fairfax Financial Holdings | 34.53 Bn | 39.18 Bn | - | - |
| 8 | Loews | 23.53 Bn | 11.27 Bn | -1.32 Bn | 71.45% |
| 9 | Selective Insurance | 20.82 Bn | 19.07 Bn | 543.42 Mn | 10.48% |
| 10 | Assurant | 13.63 Bn | 11.71 Bn | 2.01 Bn | 5.74% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -46.25% |
| Dec 31, 2025 | 276.93% |
| Sep 30, 2025 | -56.53% |
| Jun 30, 2025 | 32.97% |
| Mar 31, 2025 | -46.88% |
| Dec 31, 2024 | -282.83% |
| Sep 30, 2024 | 36.52% |
| Jun 30, 2024 | -67.76% |
| Mar 31, 2024 | -56.51% |
| Dec 31, 2023 | -410.56% |
| Sep 30, 2023 | -64.12% |
| Jun 30, 2023 | -76.43% |