PROGRESSIVE CORPPGR

Market cap

$133B

P/E ratio

	Dec 31, 2010	Dec 31, 2011	Dec 31, 2012	Dec 31, 2013	Dec 31, 2014	Dec 31, 2015	Dec 31, 2016	Dec 31, 2017	Dec 31, 2018	Dec 31, 2020	Dec 31, 2021	Dec 31, 2022	Dec 31, 2023	Dec 31, 2024
Net income	1,068	1,016	902	1,165	1,281	1,301	1,057	1,598	2,621	5,705	3,351	722	3,902	8,480
Depreciation	-	89	94	101	97	104	137	170	190	275	280	306	286	284
Net amortization (accretion) of fixed-income securities	-229	-233	-187	-134	-78	-98	-77	-86	-34	-101	-130	25	-41	30
Restricted Stock or Unit Expense	46	51	63	65	51	66	85	95	77	89	101	123	121	122
Net realized (gains) losses on securities	96	103	307	318	224	113	51	50	-405	1,630	1,509	-1,912	353	264
Net (gains) losses on disposition of property and equipment	-2	-9	-7	-6	-5	-2	-7	-7	-32	-12	4	1	-36	-13
Goodwill impairment	-	-	-	-	-	-	-	-	-	-	-	225	-	-
Premiums receivable	284	191	254	127	227	421	519	913	1,075	653	1,147	1,017	1,541	2,411
Reinsurance recoverables	177	77	83	189	142	203	388	389	423	641	509	852	-738	-329
Prepaid reinsurance premiums	19	-18	-3	9	10	-32	-49	33	106	-258	75	-162	-46	99
Deferred acquisition costs	15	16	1	13	10	42	104	129	171	181	118	189	143	274
Income taxes	-	28	20	58	98	-107	-56	-173	-159	-23	-86	-515	181	-358
Unearned premiums	181	226	351	245	266	632	831	1,435	1,783	1,049	2,111	1,678	2,840	3,724
Loss and loss adjustment expense reserves	-	-	-	-	-	918	1,323	1,719	2,314	2,160	4,753	4,195	4,030	4,668
Accounts payable, accrued expenses, and other liabilities	210	36	124	165	92	38	309	400	747	329	400	200	700	1,236
Other, net	10	-6	10	28	13	60	106	135	58	3	-26	105	255	301
Net cash provided by operating activities	1,679	1,498	1,691	1,900	1,726	2,293	2,702	3,757	6,285	6,906	7,762	6,849	10,643	15,119
Fixed maturities	4,492	6,032	5,199	7,101	7,968	9,311	11,611	14,588	21,153	32,038	33,178	26,510	25,777	47,778
Equity securities	-	-	-	-	-	-	-	-	-	-	838	158	87	168
Fixed maturities	3,056	4,443	3,706	3,084	5,638	4,914	5,695	5,383	7,836	22,727	18,965	14,055	8,234	25,634
Equity securities	-	-	-	-	-	-	-	-	-	-	781	1,496	791	267
Fixed maturities	-	-	-	-	-	-	-	-	-	-	7,014	5,380	4,990	7,006
Equity securities	-	-	-	-	-	-	-	-	-	-	-	-	65	110
Net (purchases) sales of short-term investments	12	461	438	-717	876	-20	1,357	-728	-1,116	3,393	-4,356	1,868	-1,156	-1,217
Net change in unsettled security transactions	-	-	-	-	-	-	-	-	-	-	-	-	-11	171
Purchases of property and equipment	65	79	128	140	108	131	215	156	266	224	244	292	252	285
Sales of property and equipment	8	3	4	4	6	11	6	15	9	22	66	35	47	77
Net cash used in investing activities	-486	-745	-265	-1,356	-837	-1,924	-2,464	-3,407	-7,332	-6,118	-3,120	-7,956	-10,843	-13,749
Redemption of preferred shares1	-	-	-	-	-	-	-	-	-	-	-	-	-	500
Dividends paid to common shareholders	764	264	854	-	-	-	-	-	655	1,551	3,747	234	234	674
Dividends paid to preferred shareholders	-	-	-	-	-	-	-	-	14	27	27	27	44	8
Acquisition of treasury shares for restricted stock tax liabilities	-	-	-	-	-	-	-	58	79	69	67	77	95	121
Acquisition of treasury shares acquired in open market	-	-	-	-	-	-	-	5	0	43	156	22	46	13
Proceeds from Issuance of Debt	-	492	-	-	345	382	496	841	1,134	986	-	1,486	496	-
Net cash provided by (used in) financing activities	-1,195	-756	-1,404	-647	-855	-253	-250	-301	847	-939	-4,516	1,126	78	-1,316
Increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents	-	-	-	-	-	-	-	49	-200	-151	126	19	-121	54