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Berkshire Hathaway vs Progressive: revenue, profit, margins and growth compared

Berkshire Hathaway brought in $371.4B of revenue in fiscal 2025, Progressive $87.7B in fiscal 2025. Revenue changed by +0.0% at Berkshire Hathaway and +16.3% at Progressive on the year before, so Progressive grew faster. Berkshire Hathaway kept 18.0% of its revenue as net profit, Progressive 12.9%. Free cash flow was $25B at Berkshire Hathaway and $17.2B at Progressive.

Side by side, latest fiscal year

BRK-APGR
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$371.4B$87.7B
Revenue growth+0.0%+16.3%
Net income$67B$11.3B
Net margin18.0%12.9%
Free cash flow$25B$17.2B
Free cash flow margin6.7%19.6%
Earnings per share (diluted)n/a$19.23
Cash$52.6B$138M
Debtn/a$0
Price to earningsn/a10.7
Market value$714.1B$119.5B
Dividend yieldn/a6.76%
Rank by revenue in sector#1 of 444 · Finance#5 of 444 · Finance

Over the years

Revenue
BRK-A FY2018: $247.8BBRK-A FY2019: $254.6BBRK-A FY2020: $245.6BBRK-A FY2021: $276.2BBRK-A FY2022: $302BBRK-A FY2023: $364.5BBRK-A FY2024: $371.4BBRK-A FY2025: $371.4BPGR FY2018: $32BPGR FY2019: $39BPGR FY2020: $42.7BPGR FY2021: $47.7BPGR FY2022: $49.6BPGR FY2023: $62.1BPGR FY2024: $75.4BPGR FY2025: $87.7BFY18FY19FY20FY21FY22FY23FY24FY25
BRK-A $371.4BPGR $87.7B
Net income
BRK-A FY2018: $4BBRK-A FY2019: $81.4BBRK-A FY2020: $42.5BBRK-A FY2021: $89.9BBRK-A FY2022: -$22.8BBRK-A FY2023: $96.2BBRK-A FY2024: $89BBRK-A FY2025: $67BPGR FY2018: $2.6BPGR FY2019: $4BPGR FY2020: $5.7BPGR FY2021: $3.4BPGR FY2022: $722MPGR FY2023: $3.9BPGR FY2024: $8.5BPGR FY2025: $11.3BFY18FY19FY20FY21FY22FY23FY24FY25
BRK-A $67BPGR $11.3B
Net margin
BRK-A FY2018: 1.6%BRK-A FY2019: 32.0%BRK-A FY2020: 17.3%BRK-A FY2021: 32.6%BRK-A FY2022: -7.5%BRK-A FY2023: 26.4%BRK-A FY2024: 24.0%BRK-A FY2025: 18.0%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
BRK-A 18.0%PGR 12.9%
Revenue growth
BRK-A FY2019: +2.7%BRK-A FY2020: -3.5%BRK-A FY2021: +12.5%BRK-A FY2022: +9.4%BRK-A FY2023: +20.7%BRK-A FY2024: +1.9%BRK-A FY2025: +0.0%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
BRK-A +0.0%PGR +16.3%
Free cash flow
BRK-A FY2018: $22.9BBRK-A FY2019: $22.7BBRK-A FY2020: $26.8BBRK-A FY2021: $26.2BBRK-A FY2022: $21.9BBRK-A FY2023: $29.8BBRK-A FY2024: $11.6BBRK-A FY2025: $25BPGR FY2018: $6BPGR FY2019: $5.9BPGR FY2020: $6.7BPGR FY2021: $7.5BPGR FY2022: $6.6BPGR FY2023: $10.4BPGR FY2024: $14.8BPGR FY2025: $17.2BFY18FY19FY20FY21FY22FY23FY24FY25
BRK-A $25BPGR $17.2B

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

Questions about Berkshire Hathaway and Progressive

Which is bigger by revenue, Berkshire Hathaway or Progressive?

Berkshire Hathaway is bigger by revenue: $371.4B in fiscal 2025, against $87.7B for Progressive in fiscal 2025.

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

Berkshire Hathaway had a net margin of 18.0% in fiscal 2025; Progressive had 12.9% in fiscal 2025.

Which grew revenue faster, Berkshire Hathaway or Progressive?

In their latest fiscal years revenue changed by +0.0% at Berkshire Hathaway 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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