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Allstate vs Progressive: revenue, profit, margins and growth compared

Allstate brought in $67.7B of revenue in fiscal 2025, Progressive $87.7B in fiscal 2025. Revenue changed by +5.6% at Allstate and +16.3% at Progressive on the year before, so Progressive grew faster. Allstate kept 15.2% of its revenue as net profit, Progressive 12.9%. Free cash flow was $9.9B at Allstate and $17.2B at Progressive.

Side by side, latest fiscal year

ALLPGR
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$67.7B$87.7B
Revenue growth+5.6%+16.3%
Net income$10.3B$11.3B
Net margin15.2%12.9%
Free cash flow$9.9B$17.2B
Free cash flow margin14.6%19.6%
Earnings per share (diluted)$38.06$19.23
Cash$678M$138M
Debt$7.5B$0
Price to earnings6.010.7
Market value$57.6B$119.5B
Dividend yield1.76%6.76%
Rank by revenue in sector#10 of 444 · Finance#5 of 444 · Finance

Over the years

Revenue
ALL FY2018: $39.8BALL FY2019: $41.5BALL FY2020: $41.9BALL FY2021: $50.6BALL FY2022: $51.4BALL FY2023: $57.1BALL FY2024: $64.1BALL FY2025: $67.7BPGR FY2018: $32BPGR FY2019: $39BPGR FY2020: $42.7BPGR FY2021: $47.7BPGR FY2022: $49.6BPGR FY2023: $62.1BPGR FY2024: $75.4BPGR FY2025: $87.7BFY18FY19FY20FY21FY22FY23FY24FY25
ALL $67.7BPGR $87.7B
Net income
ALL FY2018: $2.2BALL FY2019: $4.8BALL FY2020: $5.6BALL FY2021: $1.6BALL FY2022: -$1.3BALL FY2023: -$188MALL FY2024: $4.7BALL FY2025: $10.3BPGR FY2018: $2.6BPGR FY2019: $4BPGR FY2020: $5.7BPGR FY2021: $3.4BPGR FY2022: $722MPGR FY2023: $3.9BPGR FY2024: $8.5BPGR FY2025: $11.3BFY18FY19FY20FY21FY22FY23FY24FY25
ALL $10.3BPGR $11.3B
Net margin
ALL FY2018: 5.4%ALL FY2019: 11.7%ALL FY2020: 13.3%ALL FY2021: 3.2%ALL FY2022: -2.5%ALL FY2023: -0.3%ALL FY2024: 7.3%ALL FY2025: 15.2%PGR FY2018: 8.2%PGR FY2019: 10.2%PGR FY2020: 13.4%PGR FY2021: 7.0%PGR FY2022: 1.5%PGR FY2023: 6.3%PGR FY2024: 11.3%PGR FY2025: 12.9%FY18FY19FY20FY21FY22FY23FY24FY25
ALL 15.2%PGR 12.9%
Revenue growth
ALL FY2019: +4.3%ALL FY2020: +0.9%ALL FY2021: +20.7%ALL FY2022: +1.6%ALL FY2023: +11.1%ALL FY2024: +12.3%ALL FY2025: +5.6%PGR FY2019: +22.0%PGR FY2020: +9.3%PGR FY2021: +11.8%PGR FY2022: +4.0%PGR FY2023: +25.2%PGR FY2024: +21.4%PGR FY2025: +16.3%FY19FY20FY21FY22FY23FY24FY25
ALL +5.6%PGR +16.3%
Free cash flow
ALL FY2018: $4.9BALL FY2019: $4.7BALL FY2020: $5.2BALL FY2021: $4.8BALL FY2022: $4.7BALL FY2023: $4BALL FY2024: $8.7BALL FY2025: $9.9BPGR FY2018: $6BPGR FY2019: $5.9BPGR FY2020: $6.7BPGR FY2021: $7.5BPGR FY2022: $6.6BPGR FY2023: $10.4BPGR FY2024: $14.8BPGR FY2025: $17.2BFY18FY19FY20FY21FY22FY23FY24FY25
ALL $9.9BPGR $17.2B

Fiscal years as each company reports them; the two may end in different months.

Questions about Allstate and Progressive

Which is bigger by revenue, Allstate or Progressive?

Progressive is bigger by revenue: $87.7B in fiscal 2025, against $67.7B for Allstate in fiscal 2025.

Which keeps more of its revenue as profit, Allstate or Progressive?

Allstate had a net margin of 15.2% in fiscal 2025; Progressive had 12.9% in fiscal 2025.

Which grew revenue faster, Allstate or Progressive?

In their latest fiscal years revenue changed by +5.6% at Allstate and +16.3% at Progressive.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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