Progressive (PGR) Operating Margin (2023 - 2026)
Progressive (PGR) reported Operating Margin of 18.20% for Q2 2026, down 0.21 percentage points from 18.41% a year earlier but up 1.81 percentage points from the prior quarter.
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Analysis
Progressive (PGR) Operating Margin (2023 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Progressive's Operating Margin came in at 16.56%, up 0.29 percentage points year-over-year; for FY2025, it was 16.54%, up 1.96 percentage points from FY2024.
- Operating Margin has increased for three consecutive years, with a three-year change of +14.19 percentage points (FY2022 to FY2025).
- By year, Operating Margin came in at 14.58% in FY2024 (+6.26 pp), 8.33% in FY2023 (+5.98 pp) and 2.35% in FY2022.
- Five-year quarterly Operating Margin spans a low of 3.27% in Q2 2023 and a high of 18.41% in Q2 2025.
- Year over year, Operating Margin gained in four of the last eight quarters, with an average year-over-year change of +1.66 percentage points.
- The high point for year-over-year Operating Margin in five years was Q2 2025 (a gain of 7.77 percentage points); the low point was Q1 2025 (a drop of 1.26 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at 16.39% (Q1 2026), 16.49% (Q4 2025) and 15.07% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Chubb | 140.29 Bn | 85.93 Bn | 8.67 Bn | 22.27% |
| 2 | Progressive | 132.20 Bn | 107.72 Bn | 8.29 Bn | 14.33% |
| 3 | Marsh & Mclennan Companies | 96.60 Bn | 88.76 Bn | - | 17.70% |
| 4 | Travelers Companies | 82.11 Bn | 59.60 Bn | 5.93 Bn | 20.04% |
| 5 | Manulife Financial | 75.43 Bn | 8.45 Bn | - | - |
| 6 | Arthur J. Gallagher | 71.09 Bn | 65.68 Bn | - | - |
| 7 | Aon | 70.49 Bn | 49.69 Bn | - | 19.73% |
| 8 | Metlife | 65.52 Bn | -41.26 Bn | 7.82 Bn | 21.42% |
| 9 | Allstate | 64.49 Bn | 24.33 Bn | 7.41 Bn | 15.64% |
| 10 | Aflac | 62.39 Bn | 38.74 Bn | 1.87 Bn | -27.42% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 14.33% |
| Jun 30, 2026 | 18.20% |
| Mar 31, 2026 | 16.39% |
| Dec 31, 2025 | 16.49% |
| Sep 30, 2025 | 15.07% |
| Jun 30, 2025 | 18.41% |
| Mar 31, 2025 | 16.20% |
| Dec 31, 2024 | 14.98% |
| Sep 30, 2024 | 15.29% |
| Jun 30, 2024 | 10.64% |
| Mar 31, 2024 | 17.46% |
| Dec 31, 2023 | 15.23% |
| Sep 30, 2023 | 9.51% |
| Jun 30, 2023 | 3.27% |
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();