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Progressive Valuation Multiples
Discover revenue and EBITDA valuation multiples for Progressive and similar public comparables like Chubb, AIA Group, Zurich Insurance Group, AXA and more.
Progressive Overview
About Progressive
Progressive underwrites private and commercial auto insurance and specialty lines; it has almost 24 million personal auto policies in force and is one of the largest auto insurers in the United States. Progressive markets its policies through independent insurance agencies in the US and Canada and directly via the internet and telephone. Its premiums are split roughly equally between the agent and the direct channel. The company also offers commercial auto policies and entered homeowners insurance through an acquisition in 2015.
Founded
1937
HQ
Employees
66.3K
Website
Sectors
Financials (LTM)
EV
$132B
Progressive Financials
Progressive reported last 12-month revenue of $84B and EBITDA of $15B.
In the same LTM period, Progressive generated $15B in EBITDA and $11B in net income.
Revenue (LTM)
Progressive P&L
In the most recent fiscal year, Progressive reported revenue of $88B and EBITDA of $15B.
Progressive expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $84B | XXX | $88B | XXX | XXX | XXX |
| EBITDA | $15B | XXX | $15B | XXX | XXX | XXX |
| EBITDA Margin | 18% | XXX | 17% | XXX | XXX | XXX |
| EBIT Margin | 14% | XXX | 14% | XXX | XXX | XXX |
| Net Profit | $11B | XXX | $11B | XXX | XXX | XXX |
| Net Margin | 13% | XXX | 13% | XXX | XXX | XXX |
| Net Debt | — | — | $7B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Progressive Stock Performance
Progressive has current market cap of $125B, and enterprise value of $132B.
Market Cap Evolution
Progressive's stock price is $213.41.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $132B | $125B | 0.0% | XXX | XXX | XXX | $19.30 |
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Start Free TrialProgressive Valuation Multiples
Progressive trades at 1.6x EV/Revenue multiple, and 8.9x EV/EBITDA.
EV / Revenue (LTM)
Progressive Financial Valuation Multiples
As of March 22, 2026, Progressive has market cap of $125B and EV of $132B.
Equity research analysts estimate Progressive's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Progressive has a P/E ratio of 11.4x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $125B | XXX | $125B | XXX | XXX | XXX |
| EV (current) | $132B | XXX | $132B | XXX | XXX | XXX |
| EV/Revenue | 1.6x | XXX | 1.5x | XXX | XXX | XXX |
| EV/EBITDA | 8.9x | XXX | 8.7x | XXX | XXX | XXX |
| EV/EBIT | 11.2x | XXX | 10.8x | XXX | XXX | XXX |
| P/E | 11.4x | XXX | 11.1x | XXX | XXX | XXX |
| EV/FCF | — | XXX | 7.7x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Progressive Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Progressive Margins & Growth Rates
Progressive's revenue in the last 12 month grew by 7%.
Progressive's revenue per employee in the last FY averaged $1.3M.
Progressive's rule of 40 is 25% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Progressive's rule of X is 36% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Progressive Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 7% | XXX | 2% | XXX | XXX | XXX |
| EBITDA Margin | 18% | XXX | 17% | XXX | XXX | XXX |
| EBITDA Growth | (9%) | XXX | (9%) | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 25% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 36% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $1.3M | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Progressive Public Comps
See public comps and valuation multiples for other Insurance Carriers comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Chubb | XXX | XXX | XXX | XXX | XXX | XXX |
| AIA Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Zurich Insurance Group | XXX | XXX | XXX | XXX | XXX | XXX |
| AXA | XXX | XXX | XXX | XXX | XXX | XXX |
| Ping An Insurance | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Progressive M&A Activity
Progressive acquired XXX companies to date.
Last acquisition by Progressive was on XXXXXXXX, XXXXX. Progressive acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Progressive
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialProgressive Investment Activity
Progressive invested in XXX companies to date.
Progressive made its latest investment on XXXXXXXX, XXXXX. Progressive invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Progressive
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Progressive
| When was Progressive founded? | Progressive was founded in 1937. |
| Where is Progressive headquartered? | Progressive is headquartered in United States. |
| How many employees does Progressive have? | As of today, Progressive has over 66K employees. |
| Who is the CEO of Progressive? | Progressive's CEO is Susan Patricia Griffith. |
| Is Progressive publicly listed? | Yes, Progressive is a public company listed on NYSE. |
| What is the stock symbol of Progressive? | Progressive trades under PGR ticker. |
| When did Progressive go public? | Progressive went public in 1972. |
| Who are competitors of Progressive? | Progressive main competitors are Chubb, AIA Group, Zurich Insurance Group, AXA. |
| What is the current market cap of Progressive? | Progressive's current market cap is $125B. |
| What is the current revenue of Progressive? | Progressive's last 12 months revenue is $84B. |
| What is the current revenue growth of Progressive? | Progressive revenue growth (NTM/LTM) is 7%. |
| What is the current EV/Revenue multiple of Progressive? | Current revenue multiple of Progressive is 1.6x. |
| Is Progressive profitable? | Yes, Progressive is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Progressive? | Progressive's last 12 months EBITDA is $15B. |
| What is Progressive's EBITDA margin? | Progressive's last 12 months EBITDA margin is 18%. |
| What is the current EV/EBITDA multiple of Progressive? | Current EBITDA multiple of Progressive is 8.9x. |
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