The Progressive (PGR) Income Statement: Revenue & Earnings

The Progressive Income Statement Analysis

Revenue, earnings, and profit margins in billions USD

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The Progressive Corporation income statement - Annual data in billions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period Ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	87.67	75.34	62.11	49.61	47.68	42.64	39.00	31.95	26.82
Cost of Revenue	55.32	54.44	50.32	42.04	37.34	28.40	28.49	24.29	20.93
Gross Profit	24.59	20.90	11.76	7.55	10.34	14.24	10.50	7.66	5.88
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	0.00	0.00	0.00	0.00	0.00	0.00	0.18	0.13	0.11
Operating Expenses	11.76	10.19	6.86	6.63	6.13	7.07	5.34	4.50	3.74
Operating Income	12.83	10.71	4.90	0.92	4.21	7.17	5.16	3.16	2.14
Other Income/Expense
Interest Income	3.25	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest Expense	-0.28	0.28	-0.27	-0.24	0.22	0.22	0.19	0.17	0.15
Other Income/Expense	0.50	0.00	0.31	0.00	0.00	0.00	0.00	0.00	0.00
Income
Income Before Tax	14.22	10.71	4.90	0.92	4.21	7.17	5.16	3.16	2.14
Income Tax Expense	2.92	2.23	1.00	0.20	0.86	1.47	1.18	0.54	0.54
Net Income	11.31	8.48	3.90	0.72	3.35	5.70	3.97	2.62	1.59
Net Income - Continuous Operations	11.31	8.48	3.90	0.72	3.35	5.70	3.97	2.62	1.59
Net Income - Discontinued Operations	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBITDA	14.81	11.28	5.46	1.47	4.77	7.72	5.66	3.59	2.53
EBIT	14.50	10.99	5.17	1.17	4.43	0.00	0.00	0.00	0.00
Depreciation & Amortization	0.31	0.28	0.29	0.31	0.34	0.33	0.31	0.26	0.24
Earnings Per Share
Basic EPS	19.00	14.00	7.00	1.00	6.00	10.00	7.00	4.00	3.00
Diluted EPS	19.00	14.00	7.00	1.00	6.00	10.00	7.00	4.00	3.00
Basic Shares Outstanding	0.59	0.59	0.58	0.58	0.58	0.58	0.58	0.58	0.58
Diluted Shares Outstanding	0.59	0.59	0.59	0.59	0.59	0.59	0.59	0.59	0.59