Progressive (PGR) Operating Margin (2023 - 2026)
Progressive (PGR) reported Operating Margin of -43.89% for Q2 2026, down 0.16 percentage points from -43.73% a year earlier but up 2.35 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 -45.21%, up 1.83 percentage points year-over-year; for FY2025, it was -45.32%, up 5.55 percentage points from FY2024.
- Operating Margin has increased for three consecutive years, with a three-year change of +29.66 percentage points (FY2022 to FY2025).
- By year, Operating Margin came in at -50.88% in FY2024 (+14.74 pp), -65.61% in FY2023 (+9.37 pp) and -74.99% in FY2022.
- Five-year quarterly Operating Margin spans a low of -76.43% in Q2 2023 and a high of -43.73% in Q2 2025.
- Year over year, Operating Margin gained in six of the last eight quarters, with an average year-over-year change of +5.26 percentage points.
- The high point for year-over-year Operating Margin in five years was Q2 2024 (a gain of 17.23 percentage points); the low point was Q1 2025 (a drop of 0.30 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at -46.25% (Q1 2026), -45.82% (Q4 2025) and -44.96% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Berkshire Hathaway | 1,082.55 Bn | -334.93 Bn | 55.86 Bn | -29.67% |
| 2 | Chubb | 128.03 Bn | 80.09 Bn | 9.13 Bn | -19.39% |
| 3 | Progressive | 122.38 Bn | 98.22 Bn | 9.04 Bn | -43.89% |
| 4 | Marsh & Mclennan Companies | 81.46 Bn | 73.20 Bn | - | 25.65% |
| 5 | Travelers Companies | 75.77 Bn | 52.02 Bn | 6.23 Bn | -25.96% |
| 6 | Manulife Financial | 73.91 Bn | 75.11 Bn | - | - |
| 7 | Metlife | 60.71 Bn | -45.77 Bn | 7.82 Bn | -53.77% |
| 8 | Aon | 58.53 Bn | 51.77 Bn | - | 21.55% |
| 9 | Arthur J. Gallagher | 58.38 Bn | 52.82 Bn | - | - |
| 10 | Allstate | 57.25 Bn | 18.50 Bn | 8.73 Bn | -30.76% |
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();