Company Valuation: Progressive Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 60,057 75,889 93,173 140,366 133,534 123,454 - -
Change - 26.36% 22.77% 50.65% -4.87% -7.55% - -
Enterprise Value (EV) 60,057 79,212 99,976 140,366 133,534 123,454 123,454 123,454
Change - 31.9% 26.21% 40.4% -4.87% -7.55% 0% 0%
P/E 18.1x 110x 24.2x 16.6x 11.8x 11.7x 12.9x 13x
PBR 3.38x 4.93x 4.71x 5.49x 4.4x 3.42x 2.96x 2.66x
PEG - -1.4x 0x 0x 0.4x -2.16x -1.36x -15.47x
Capitalization / Revenue 1.29x 1.49x 1.51x 1.89x 1.61x 1.42x 1.34x 1.25x
EV / Revenue 0x 0x 0x 0x 0x 1.42x 1.34x 1.25x
EV / EBITDA - - - - - - - -
EV / EBIT 0x 0x 0x 0x - 11.6x 13x 13.1x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 1.9 0.4 1.15 4.9 13.9 8.917 7.234 7.22
Rate of return 1.85% 0.31% 0.72% 2.04% 6.1% 4.2% 3.41% 3.4%
EPS 2 5.66 1.18 6.58 14.4 19.23 18.19 16.46 16.32
Distribution rate 33.6% 33.9% 17.5% 34% 72.3% 49% 43.9% 44.2%
Net sales 1 46,405 51,081 61,550 74,424 83,174 87,191 92,472 98,618
EBITDA - - 5,472 - - - - -
EBIT 1 4,429 1,166 5,172 10,992 - 10,624 9,496 9,406
Net income 1 3,351 721.5 3,902 8,480 11,308 10,668 9,541 9,197
Net Debt - 3,323 6,804 - - - - -
Reference price 2 102.65 129.71 159.28 239.61 227.72 212.35 212.35 212.35
Nbr of stocks (in thousands) 585,064 585,070 584,961 585,812 586,397 581,372 - -
Announcement Date 1/26/22 1/25/23 1/24/24 1/29/25 1/28/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
11.67x - - 4.2% 123B
7.26x0.57x - 5.27% 44.25B
15.16x2.82x16.3x4.36% 15.33B
19.91x2.45x - 5.68% 13.93B
9.05x - - 1.2% 5.86B
11.47x - - 5.61% 3.6B
10.81x1.09x3.92x5.93% 1.43B
412.92x - - - 1.3B
Average 62.28x 1.73x 10.11x 4.61% 26.14B
Weighted average by Cap. 13.96x 1.39x 15.25x 4.49%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  4. Valuation Progressive Corporation