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Progressive Corporation PGR

Progressive Corporation scores excellent on business quality (8.4 of 10). Here is why, in plain words, and what our sealed record shows.

Last price$217.43Oct 10, 2026
Business qualityExcellent
Next earningsNov 2, 2026, before the open
Insiders, 90 daysQuiet

Why it matters

  1. What Progressive Corporation does

    Progressive sells personal and commercial auto insurance, plus property coverage, collecting premiums directly from policyholders and through independent agents.

  2. What it does best

    Progressive prices risk faster than traditional insurers using granular telematics data from its Snapshot program, helping deliver an exceptional 35.4% ROE that outpaces Allstate's 43.1% and Travelers' 25.6%.

  3. The main risk

    Unexpected catastrophe losses or spikes in severity can instantly pressure underwriting margins, forcing rapid rate hikes that risk customer retention in key auto markets.

Quality, check by check

Scored against its own industry, from company filings.

ProfitabilityStrong

Operating margin stands at 16.6% with a net margin of 12.8%, showing strong bottom-line conversion as premium revenue scales faster than loss adjustment expenses.

MoatStrong

Proprietary driving data creates a wide switching-cost moat locking in policyholders, backed by a top-decile 94th sector percentile ROE that rivals cannot easily replicate.

GrowthFast

Revenue grew 16.3% over the latest period, outpacing historical expansion rates as vehicle policy counts and premium rates climbed across core segments.

Financial healthStrong

Interest coverage sits at 50.8x, making debt servicing a minor expense. Free cash flow reached $16.0B backed by solid operating cash generation, leaving the balance sheet on firm footing.

Insiders

Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.

No open market buys or unplanned sales by executives or directors.

Our sealed record on PGR

Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.

The first sealed verdicts appear here on Oct 11, 2026.

Questions

Is PGR a good business?

Progressive Corporation scores excellent on the Cluenex quality check (8.4 of 10), measured against its own industry. Profitability is strong, moat strong, growth fast and financial health strong.

Are insiders buying PGR?

In the last 90 days of SEC Form 4 filings: No open market buys or unplanned sales by executives or directors.

When does PGR report earnings?

Nov 2, 2026, before the open.

For members

See PGR today

  • Today's verdict on PGR, and why
  • Fair value with cautious, base and optimistic cases
  • The exact price that would change the verdict
  • Which stocks each signal names, the night it fires
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Cite this page: Cluenex, “Progressive Corporation (PGR)”, https://cluenex.com/stocks/pgr/, data as of Oct 10, 2026.