Progressive Corp.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $87.67B | $75.37B | $62.11B | $49.61B | $47.70B | $42.66B | $39.02B | $31.98B |
| Net premiums earned | $81.66B | $70.80B | $58.67B | $49.24B | $44.37B | $39.26B | $36.19B | $30.93B |
| Net investment income | $3.58B | $2.83B | $1.89B | $1.26B | $860.9M | $936.6M | $1.04B | $820.5M |
| Net realized gains (losses) on securities | $727.0M | $264.0M | $353.0M | $-1.91B | $1.51B | $1.63B | $1.03B | $-405.5M |
| Fees and other revenues | $1.20B | $1.06B | $889.0M | $722.1M | $691.8M | $603.5M | $563.7M | $472.2M |
| Service revenues | $504.0M | $413.0M | $310.0M | $299.3M | $271.4M | $226.4M | $195.0M | $158.5M |
| Other revenue items | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cost of Revenue | — | — | — | — | — | — | — | — |
| Gross Profit | — | — | — | — | — | — | — | — |
| Gross Margin | — | — | — | — | — | — | — | — |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | — | — | — | — | — | — | — | — |
| Operating Income | $14.50B | $10.99B | $5.17B | $1.17B | $4.43B | $7.39B | $5.35B | $3.33B |
| Operating Margin | 16.5% | 14.6% | 8.3% | 2.4% | 9.3% | 17.3% | 13.7% | 10.4% |
| Interest Expense | $278.0M | $279.0M | $268.0M | $244.0M | $218.6M | $217.0M | $189.7M | $166.5M |
| Pretax Income | $14.22B | $10.71B | $4.90B | $922.0M | $4.21B | $7.17B | $5.16B | $3.16B |
| Income Tax Expense | $2.92B | $2.23B | $1.00B | $200.0M | $859.1M | $1.47B | $1.18B | $542.6M |
| Net Income | $11.31B | $8.48B | $3.90B | $722.0M | $3.35B | $5.70B | $3.97B | $2.62B |
| Net Margin | 12.9% | 11.3% | 6.3% | 1.5% | 7.0% | 13.4% | 10.2% | 8.2% |
| EPS (Basic) | $19.29 | $14.45 | $6.61 | $1.19 | $5.69 | $9.71 | $6.75 | $4.45 |
| EPS (Diluted) | $19.23 | $14.40 | $6.58 | $1.18 | $5.66 | $9.66 | $6.72 | $4.42 |
| Shares Outstanding (Basic) | 586.3M | 585.5M | 584.9M | 584.4M | 584.5M | 584.9M | 583.8M | 582.4M |
| Shares Outstanding (Diluted) | 588.1M | 587.7M | 587.5M | 587.1M | 587.1M | 587.6M | 587.2M | 586.7M |
| Dividends Per Share | $13.90 | $4.90 | $1.15 | $0.40 | $1.90 | $4.90 | $2.65 | $2.51 |