The Progressive Corporation
PGRFinancial Statements
Income Statement (Annual)
Amounts in millions
2024
12/31/2024
Revenue
75,343
Cost of Revenue
54,443
Gross Profit
20,900
Gross Margin
27.7%
Operating Income
10,713
Operating Margin
14.2%
Net Income
8,480
Net Margin
11.3%
EPS (Basic)
$14.45
EPS (Diluted)
$14.40
EBITDA
11,276
EBITDA Margin
15.0%
2023
12/31/2023
Revenue
62,083
Cost of Revenue
50,320
Gross Profit
11,763
Gross Margin
18.9%
Operating Income
4,904
Operating Margin
7.9%
Net Income
3,903
Net Margin
6.3%
EPS (Basic)
$6.61
EPS (Diluted)
$6.58
EBITDA
5,457
EBITDA Margin
8.8%
2022
12/31/2022
Revenue
49,587
Cost of Revenue
42,040
Gross Profit
7,547
Gross Margin
15.2%
Operating Income
922
Operating Margin
1.9%
Net Income
722
Net Margin
1.5%
EPS (Basic)
$1.19
EPS (Diluted)
$1.18
EBITDA
1,472
EBITDA Margin
3.0%
2021
12/31/2021
Revenue
47,677
Cost of Revenue
37,340
Gross Profit
10,336
Gross Margin
21.7%
Operating Income
4,210
Operating Margin
8.8%
Net Income
3,351
Net Margin
7.0%
EPS (Basic)
$5.69
EPS (Diluted)
$5.66
EBITDA
4,766
EBITDA Margin
10.0%
2020
12/31/2020
Revenue
42,638
Cost of Revenue
28,395
Gross Profit
14,243
Gross Margin
33.4%
Operating Income
7,173
Operating Margin
16.8%
Net Income
5,705
Net Margin
13.4%
EPS (Basic)
$9.71
EPS (Diluted)
$9.66
EBITDA
7,722
EBITDA Margin
18.1%