Progressive (PGR) Operating Margin (2023 - 2026)
Progressive's (PGR) quarterly Operating Margin came in at 43.89% in Q2 2026, down 16.0% year-over-year from 52.26% in Q2 2025, and up 5.08% quarter-over-quarter from 46.25% in Q1 2026.
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Analysis
Progressive (PGR) Operating Margin (2023 - 2026) Analysis & Trends
Progressive (PGR) has reported Operating Margin for 4 consecutive years, with 43.89% the latest figure, recorded in Q2 2026.
- On a quarterly basis, Operating Margin fell 16.0% year-over-year to 43.89% in Q2 2026; TTM through Jun 2026 was 45.21%, a 183.0% increase from a year earlier, with the FY2025 full-year figure at 45.32%, up 555.0% from the prior year.
- Operating Margin was 43.89% for Q2 2026 at Progressive, up from 46.25% in the prior quarter.
- Over five years, Operating Margin peaked at 43.73% in Q2 2025 and troughed at 76.43% in Q2 2023.
- A 4-year average of 51.45% and a median of 46.88% in 2025 frame the typical range for Operating Margin.
- Across the five-year window, Operating Margin jumped 1723 bps in 2024 and retreated 30 bps in 2025, its largest moves.
- Over 4 years, Operating Margin stood at 53.1% in 2023, then advanced by 7 bps to 49.4% in 2024, then gained by 7 bps to 45.82% in 2025, then climbed by 4 bps to 43.89% in 2026.
- The last three Operating Margin figures came in at 43.89% (Q2 2026), 46.25% (Q1 2026), and 45.82% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Berkshire Hathaway | 1,085.11 Bn | 760.40 Bn | 55.86 Bn | -29.67% |
| 2 | Chubb | 129.51 Bn | 121.21 Bn | 9.13 Bn | 11.13% |
| 3 | Progressive | 120.30 Bn | 115.30 Bn | 9.04 Bn | -43.89% |
| 4 | Marsh & Mclennan Companies | 81.24 Bn | 69.29 Bn | 6.04 Bn | 25.65% |
| 5 | Travelers Companies | 75.54 Bn | 51.79 Bn | 6.23 Bn | 8.80% |
| 6 | Manulife Financial | 75.22 Bn | 76.43 Bn | - | 51.31% |
| 7 | Metlife | 61.21 Bn | 34.19 Bn | 7.82 Bn | 34.99% |
| 8 | Aon | 60.67 Bn | 59.43 Bn | - | 21.55% |
| 9 | Arthur J. Gallagher | 59.09 Bn | 57.73 Bn | - | - |
| 10 | Allstate | 58.28 Bn | 19.52 Bn | 16.28 Bn | 5.43% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -43.89% |
| Mar 31, 2026 | -46.25% |
| Dec 31, 2025 | -45.82% |
| Sep 30, 2025 | -44.96% |
| Jun 30, 2025 | -43.73% |
| Mar 31, 2025 | -46.88% |
| Dec 31, 2024 | -49.40% |
| Sep 30, 2024 | -48.50% |
| Jun 30, 2024 | -59.20% |
| Mar 31, 2024 | -46.58% |
| Dec 31, 2023 | -53.10% |
| Sep 30, 2023 | -64.12% |
| Jun 30, 2023 | -76.43% |
API Access
Progressive Operating 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=operating-margin&ticker=PGR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-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=operating-margin&ticker=PGR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();