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 | −$419.2M | −88.33% | +1.42% |
| Q3 2009 | 2009-09-30 | $475.0M | — | — | +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 SEC-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 filings at SEC.gov ↗