Progressive annual free cash flow
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Progressive Free Cash Flow (FCF) History (PGR)
Progressive reported $17.20B in free cash flow for fiscal 2025, an increase of 15.95% from the previous fiscal year, with a free cash flow margin of 19.62%.
View full Progressive company overviewProgressive free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | $17.20B | $2.37B | +15.95% | +19.62% |
| 2024 | 2024-12-31 | $14.83B | $4.44B | +42.76% | +19.68% |
| 2023 | 2023-12-31 | $10.39B | $3.83B | +58.47% | +16.73% |
| 2022 | 2022-12-31 | $6.56B | −$961.2M | −12.78% | +13.22% |
| 2021 | 2021-12-31 | $7.52B | $836.1M | +12.51% | +15.76% |
| 2020 | 2020-12-31 | $6.68B | $784.0M | +13.29% | +15.66% |
| 2019 | 2019-12-31 | $5.90B | −$120.7M | −2.01% | +15.11% |
| 2018 | 2018-12-31 | $6.02B | $2.42B | +67.14% | +18.82% |
| 2017 | 2017-12-31 | $3.60B | $1.08B | +43.03% | +13.42% |
| 2016 | 2016-12-31 | $2.52B | $355.5M | +16.44% | +10.74% |
| 2015 | 2015-12-31 | $2.16B | $544.7M | +33.68% | +10.37% |
| 2014 | 2014-12-31 | $1.62B | −$142.0M | −8.07% | +8.34% |
| 2013 | 2013-12-31 | $1.76B | $195.8M | +12.52% | +9.68% |
| 2012 | 2012-12-31 | $1.56B | $144.7M | +10.20% | +9.15% |
| 2011 | 2011-12-31 | $1.42B | −$195.6M | −12.11% | +9.00% |
| 2010 | 2010-12-31 | $1.61B | $194.4M | +13.69% | +10.61% |
| 2009 | 2009-12-31 | $1.42B | −$30.5M | −2.10% | +9.75% |
| 2008 | 2008-12-31 | $1.45B | −$204.0M | −12.33% | +11.30% |
| 2007 | 2007-12-31 | $1.65B | — | — | +11.27% |
Progressive quarterly free cash flow
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| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $3.47B | −$469.0M | −11.91% | +14.69% |
| Q1 2026 | 2026-03-31 | $4.30B | −$780.0M | −15.34% | +19.40% |
| Q4 2025 | 2025-12-31 | $3.05B | $151.0M | +5.21% | +13.40% |
| Q3 2025 | 2025-09-30 | $5.13B | $577.0M | +12.68% | +22.78% |
| Q2 2025 | 2025-06-30 | $3.94B | $739.0M | +23.10% | +17.90% |
| Q1 2025 | 2025-03-31 | $5.08B | $899.0M | +21.48% | +24.91% |
| Q4 2024 | 2024-12-31 | $2.90B | $543.1M | +23.06% | +14.29% |
| Q3 2024 | 2024-09-30 | $4.55B | $1.17B | +34.55% | +23.08% |
| Q2 2024 | 2024-06-30 | $3.20B | $952.4M | +42.39% | +17.64% |
| Q1 2024 | 2024-03-31 | $4.18B | $1.78B | +73.92% | +24.27% |
| Q4 2023 | 2023-12-31 | $2.35B | $1.47B | +166.75% | +13.94% |
| Q3 2023 | 2023-09-30 | $3.38B | $1.46B | +76.30% | +21.74% |
| Q2 2023 | 2023-06-30 | $2.25B | $920.7M | +69.44% | +14.63% |
| Q1 2023 | 2023-03-31 | $2.41B | −$23.0M | −0.95% | +16.82% |
| Q4 2022 | 2022-12-31 | $882.8M | $485.9M | +122.42% | +6.55% |
| Q3 2022 | 2022-09-30 | $1.92B | −$362.4M | −15.88% | +15.02% |
| Q2 2022 | 2022-06-30 | $1.33B | −$950.0M | −41.74% | +11.51% |
| Q1 2022 | 2022-03-31 | $2.43B | −$134.7M | −5.25% | +20.52% |
| Q4 2021 | 2021-12-31 | $396.9M | −$1.10B | −73.54% | +3.18% |
| Q3 2021 | 2021-09-30 | $2.28B | $867.4M | +61.34% | +19.24% |
| Q2 2021 | 2021-06-30 | $2.28B | $71.4M | +3.24% | +19.12% |
| Q1 2021 | 2021-03-31 | $2.56B | $1.00B | +64.00% | +22.40% |
| Q4 2020 | 2020-12-31 | $1.50B | $454.3M | +43.44% | +13.14% |
| Q3 2020 | 2020-09-30 | $1.41B | −$266.7M | −15.87% | +12.92% |
| Q2 2020 | 2020-06-30 | $2.20B | $825.7M | +59.89% | +20.09% |
| Q1 2020 | 2020-03-31 | $1.56B | −$229.3M | −12.79% | +16.77% |
| Q4 2019 | 2019-12-31 | $1.05B | $63.8M | +6.50% | +9.74% |
| Q3 2019 | 2019-09-30 | $1.68B | $25.3M | +1.53% | +17.63% |
| Q2 2019 | 2019-06-30 | $1.38B | −$291.2M | −17.44% | +14.59% |
| Q1 2019 | 2019-03-31 | $1.79B | $81.4M | +4.76% | +19.28% |
| Q4 2018 | 2018-12-31 | $982.1M | $494.4M | +101.37% | +12.22% |
| Q3 2018 | 2018-09-30 | $1.66B | $491.4M | +42.22% | +19.48% |
| Q2 2018 | 2018-06-30 | $1.67B | $790.0M | +89.77% | +20.83% |
| Q1 2018 | 2018-03-31 | $1.71B | $641.9M | +60.02% | +23.03% |
| Q4 2017 | 2017-12-31 | $487.7M | $83.7M | +20.72% | +6.85% |
| Q3 2017 | 2017-09-30 | $1.16B | $512.5M | +78.66% | +17.14% |
| Q2 2017 | 2017-06-30 | $880.0M | $182.3M | +26.13% | +13.32% |
| Q1 2017 | 2017-03-31 | $1.07B | $304.9M | +39.88% | +16.92% |
| Q4 2016 | 2016-12-31 | $404.0M | $315.6M | +357.01% | +6.59% |
| Q3 2016 | 2016-09-30 | $651.5M | −$45.9M | −6.58% | +10.98% |
| Q2 2016 | 2016-06-30 | $697.7M | $70.2M | +11.19% | +11.99% |
| Q1 2016 | 2016-03-31 | $764.5M | $15.6M | +2.08% | +13.76% |
| Q4 2015 | 2015-12-31 | $88.4M | $54.8M | +163.10% | +1.64% |
| Q3 2015 | 2015-09-30 | $697.4M | $110.0M | +18.73% | +13.22% |
| Q2 2015 | 2015-06-30 | $627.5M | $275.4M | +78.22% | +11.88% |
| Q1 2015 | 2015-03-31 | $748.9M | $104.5M | +16.22% | +15.30% |
| Q4 2014 | 2014-12-31 | $33.6M | −$83.5M | −71.31% | +0.65% |
| Q3 2014 | 2014-09-30 | $587.4M | $12.7M | +2.21% | +12.32% |
| Q2 2014 | 2014-06-30 | $352.1M | −$21.2M | −5.68% | +7.43% |
| Q1 2014 | 2014-03-31 | $644.4M | −$50.0M | −7.20% | +13.69% |
| Q4 2013 | 2013-12-31 | $117.1M | $134.5M | — | +2.54% |
| Q3 2013 | 2013-09-30 | $574.7M | $75.2M | +15.06% | +12.71% |
| Q2 2013 | 2013-06-30 | $373.3M | −$29.2M | −7.25% | +8.13% |
| Q1 2013 | 2013-03-31 | $694.4M | $15.3M | +2.25% | +15.65% |
| Q4 2012 | 2012-12-31 | −$17.4M | $5.6M | — | −0.40% |
| Q3 2012 | 2012-09-30 | $499.5M | $53.0M | +11.87% | +11.29% |
| Q2 2012 | 2012-06-30 | $402.5M | $63.0M | +18.56% | +9.62% |
| Q1 2012 | 2012-03-31 | $679.1M | $23.1M | +3.52% | +16.46% |
| Q4 2011 | 2011-12-31 | −$23.0M | $800,000 | — | −0.55% |
| Q3 2011 | 2011-09-30 | $446.5M | −$17.3M | −3.73% | +11.72% |
| Q2 2011 | 2011-06-30 | $339.5M | −$182.1M | −34.91% | +8.77% |
| Q1 2011 | 2011-03-31 | $656.0M | $3.0M | +0.46% | +16.85% |
| Q4 2010 | 2010-12-31 | −$23.8M | −$79.2M | — | −0.58% |
| Q3 2010 | 2010-09-30 | $463.8M | −$11.2M | −2.36% | +12.30% |
| Q2 2010 | 2010-06-30 | $521.6M | $152.0M | +41.13% | +14.15% |
| Q1 2010 | 2010-03-31 | $653.0M | $132.8M | +25.53% | +17.81% |
| Q4 2009 | 2009-12-31 | $55.4M | — | — | +1.42% |
| Q3 2009 | 2009-09-30 | $475.0M | $400,000 | +0.08% | +13.15% |
| Q2 2009 | 2009-06-30 | $369.6M | — | — | +10.31% |
| Q1 2009 | 2009-03-31 | $520.2M | — | — | +15.00% |
| Q3 2008 | 2008-09-30 | $474.6M | — | — | +21.47% |
Progressive free cash flow growth trends
Over the last five reported fiscal years, free cash flow grew from $6.68B to $17.20B, a compound annual growth rate of 20.82%. Progressive's latest reported quarter, Q2 2026, generated $3.47B in free cash flow, a decrease of 11.91% year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Progressive source filings ↗Community posts
Progressive’s monthly profit falls despite continued premium growth
Progressive ($PGR) reported unaudited monthly net income of approximately $951 million, down 22% from $1.22 billion a year earlier. Earnings per share fell to $1.63 from $2.07. Net premiums written nevertheless increased 6% to around $7.61 ...
