Progressive (PGR) Return on Invested Capital [ROIC] (2009 - 2026)
Progressive (PGR) recorded Return on Invested Capital [ROIC] of 28.70% in Q2 2026, up 0.42 percentage points from 28.28% a year earlier but down 1.65 percentage points from the prior quarter.
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Analysis
Progressive (PGR) Return on Invested Capital [ROIC] (2009 - 2026) Analysis & Trends
For FY2025, Progressive reported Return on Invested Capital [ROIC] of 33.08%, up 3.91 percentage points from FY2024.
- Annual Return on Invested Capital [ROIC] has increased for three straight years, with a five-year change of +4.07 percentage points (FY2020 to FY2025).
- Across earlier years, Return on Invested Capital [ROIC] came in at 29.17% in FY2024 (+12.52 pp), 16.65% in FY2023 (+12.63 pp), 4.02% in FY2022 (-11.45 pp) and 15.47% in FY2021 (-13.54 pp).
- Quarterly Return on Invested Capital [ROIC] has ranged from 4.20% in Q4 2022 to 30.34% in Q1 2026 over the past five years.
- On a year-over-year basis, Return on Invested Capital [ROIC] has increased for 13 consecutive quarters, with an average year-over-year change of +5.09 percentage points over the last eight quarters.
- Peak year-over-year performance for Return on Invested Capital [ROIC] in the last five years was a gain of 16.86 percentage points in Q1 2024, against a drop of 19.44 percentage points in Q2 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at 30.34% (Q1 2026), 28.98% (Q4 2025) and 26.72% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Berkshire Hathaway | 1,248.67 Bn | -185.49 Bn | 56.71 Bn | -11.13% |
| 2 | Chubb | 141.22 Bn | 92.15 Bn | 8.67 Bn | 11.97% |
| 3 | Progressive | 134.26 Bn | 109.78 Bn | 8.29 Bn | 28.24% |
| 4 | Marsh & Mclennan Companies | 98.32 Bn | 90.72 Bn | - | 13.08% |
| 5 | Travelers Companies | 82.09 Bn | 59.57 Bn | 5.93 Bn | 21.49% |
| 6 | Manulife Financial | 75.36 Bn | -19.02 Bn | - | - |
| 7 | Arthur J. Gallagher | 72.54 Bn | 67.17 Bn | 3.33 Bn | 6.01% |
| 8 | Aon | 71.33 Bn | 50.56 Bn | - | 11.58% |
| 9 | Allstate | 65.04 Bn | 22.10 Bn | -9.85 Bn | 9.71% |
| 10 | Metlife | 64.67 Bn | -43.29 Bn | 9.05 Bn | 40.03% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 28.24% |
| Jun 30, 2026 | 29.22% |
| Mar 31, 2026 | 30.90% |
| Dec 31, 2025 | 31.43% |
| Sep 30, 2025 | 28.56% |
| Jun 30, 2025 | 30.28% |
| Mar 31, 2025 | 28.36% |
| Dec 31, 2024 | 26.15% |
| Sep 30, 2024 | 25.93% |
| Jun 30, 2024 | 24.16% |
| Mar 31, 2024 | 21.49% |
| Dec 31, 2023 | 16.00% |
| Sep 30, 2023 | 12.33% |
| Jun 30, 2023 | 8.33% |
| Mar 31, 2023 | 4.64% |
| Dec 31, 2022 | 4.20% |
| Sep 30, 2022 | 4.81% |
| Jun 30, 2022 | 4.51% |
| Mar 31, 2022 | 10.13% |
| Dec 31, 2021 | 15.13% |
API Access
Progressive Return on Invested Capital [ROIC] 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=return-on-invested-capital-%5Broic%5D&ticker=PGR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "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=return-on-invested-capital-%5Broic%5D&ticker=PGR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();