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Progressive vs Travelers Companies: revenue, profit, margins and growth compared

Progressive brought in $87.7B of revenue in fiscal 2025, Travelers Companies $48.8B in fiscal 2025. Revenue changed by +16.3% at Progressive and +5.2% at Travelers Companies on the year before, so Progressive grew faster. Progressive kept 12.9% of its revenue as net profit, Travelers Companies 12.9%.

Side by side, latest fiscal year

PGRTRV
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$87.7B$48.8B
Revenue growth+16.3%+5.2%
Net income$11.3B$6.3B
Net margin12.9%12.9%
Free cash flow$17.2Bn/a
Free cash flow margin19.6%n/a
Earnings per share (diluted)$19.23$27.43
Cash$138M$842M
Debt$0n/a
Price to earnings10.713.2
Market value$119.5B$75.7B
Dividend yield6.76%n/a
Rank by revenue in sector#5 of 444 · Finance#15 of 444 · Finance

Over the years

Revenue
PGR FY2018: $32BPGR FY2019: $39BPGR FY2020: $42.7BPGR FY2021: $47.7BPGR FY2022: $49.6BPGR FY2023: $62.1BPGR FY2024: $75.4BPGR FY2025: $87.7BTRV FY2018: $30.3BTRV FY2019: $31.6BTRV FY2020: $32BTRV FY2021: $34.8BTRV FY2022: $36.9BTRV FY2023: $41.4BTRV FY2024: $46.4BTRV FY2025: $48.8BFY18FY19FY20FY21FY22FY23FY24FY25
PGR $87.7BTRV $48.8B
Net income
PGR FY2018: $2.6BPGR FY2019: $4BPGR FY2020: $5.7BPGR FY2021: $3.4BPGR FY2022: $722MPGR FY2023: $3.9BPGR FY2024: $8.5BPGR FY2025: $11.3BTRV FY2018: $2.5BTRV FY2019: $2.6BTRV FY2020: $2.7BTRV FY2021: $3.7BTRV FY2022: $2.8BTRV FY2023: $3BTRV FY2024: $5BTRV FY2025: $6.3BFY18FY19FY20FY21FY22FY23FY24FY25
PGR $11.3BTRV $6.3B
Net margin
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%TRV FY2018: 8.3%TRV FY2019: 8.3%TRV FY2020: 8.4%TRV FY2021: 10.5%TRV FY2022: 7.7%TRV FY2023: 7.2%TRV FY2024: 10.8%TRV FY2025: 12.9%FY18FY19FY20FY21FY22FY23FY24FY25
PGR 12.9%TRV 12.9%
Revenue growth
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%TRV FY2019: +4.3%TRV FY2020: +1.3%TRV FY2021: +8.9%TRV FY2022: +5.9%TRV FY2023: +12.1%TRV FY2024: +12.2%TRV FY2025: +5.2%FY19FY20FY21FY22FY23FY24FY25
PGR +16.3%TRV +5.2%
Free cash flow
PGR FY2018: $6BPGR FY2019: $5.9BPGR FY2020: $6.7BPGR FY2021: $7.5BPGR FY2022: $6.6BPGR FY2023: $10.4BPGR FY2024: $14.8BPGR FY2025: $17.2BFY18FY19FY20FY21FY22FY23FY24FY25
PGR $17.2BTRV

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

Questions about Progressive and Travelers Companies

Which is bigger by revenue, Progressive or Travelers Companies?

Progressive is bigger by revenue: $87.7B in fiscal 2025, against $48.8B for Travelers Companies in fiscal 2025.

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

Progressive had a net margin of 12.9% in fiscal 2025; Travelers Companies had 12.9% in fiscal 2025.

Which grew revenue faster, Progressive or Travelers Companies?

In their latest fiscal years revenue changed by +16.3% at Progressive and +5.2% at Travelers Companies.

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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