The Progressive Corporation Financial Ratios — PGR Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	24.28	22.1	28.58	29.06	25.37	18.76	25.82	33.29	38.98	45.05	22.26	4.31	21.66	38.25	42.85
Return on Assets (%)	4.72	4.05	4.95	5.1	4.56	3.26	4.41	6.13	7.82	9.59	4.96	0.99	4.76	8.72	9.89
Return on Capital (%)	17.33	15.58	20.62	21.17	17.86	13.13	18.1	23.1	26.9	32.21	17.13	4.1	16.48	29.73	34.64
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	9.43	7.72	9.47	9.84	9.18	6.28	7.98	9.9	13.23	16.82	8.83	1.86	7.9	14.22	16.23
Profit Margin (%)	6.44	5.29	6.42	6.61	6.08	4.4	5.94	8.18	10.18	13.38	7.03	1.46	6.29	11.26	12.9
Net Income to Common Margin (%)	6.44	5.29	6.42	6.61	6.08	4.4	5.94	8.12	10.11	13.32	6.97	1.4	6.23	11.23	12.9
Effective Tax Rate (%)	31.71	31.52	32.24	32.84	31.97	28.12	25.28	17.15	22.87	20.47	20.41	21.69	20.41	20.84	20.49
Dvd Payout Ratio (%)	25.96	94.61	15.07	69.68	30.27	47.9	24.65	24.83	41.46	27.32	112.71	33.67	6.18	7.86	25.39
Sustainable Growth Rate (%)	17.97	1.19	24.28	8.81	17.69	9.77	19.45	25.02	22.82	32.75	-2.83	2.86	20.32	35.24	31.97

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	2,442	2,063	1,861	2,165	2,708	3,148	3,306	4,405	4,906	5,396	4,899	6,388	6,889	6,893	6,897
ST Debt	500	150	- -	- -	- -	- -	3,269	499	499	- -	- -	- -	- -	- -	- -
LT Debt	1,942	1,913	1,861	2,165	2,708	3,148	37	3,906	4,407	5,396	4,899	6,388	6,889	6,893	6,897
Total Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	-0.59	-1.03	-1.19	-0.92	-0.96	-1.53	-1.02	-1.6	-1.92	-1.03	-1.11	-1.2	-0.94	-1.02	-1.25
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	133	124	118	117	136	141	153	166	190	217	219	244	268	279	278
Common Equity/Total Assets	18.81	17.89	16.78	18.31	17.67	17.11	17.09	19.26	20.51	21.75	22.39	21.61	21.86	23.52	22.69
Long-Term Debt/Equity (%)	33.45	31.85	30.07	31.24	37.15	39.56	0.4	36.09	32.23	31.67	26.87	40.2	33.97	26.94	22.75
Long-Term Debt/Capital (%)	29.65	31.25	31.24	31.44	33.94	35.5	0.37	28.16	26.45	27.21	22.98	27.55	25.73	21.7	19.81
Long-Term Debt/Total Assets (%)	8.89	8.43	7.62	8.39	9.08	9.42	0.1	8.39	8.03	8.42	6.89	8.47	7.77	6.52	5.61
Total Debt/Equity (%)	42.06	34.34	30.07	31.24	37.15	39.56	35.61	40.7	35.88	31.67	26.87	40.2	33.97	26.94	22.75
Total Debt/Capital (%)	37.28	33.7	31.24	31.44	33.94	35.5	33.33	31.76	29.44	27.21	22.98	27.55	25.73	21.7	19.81
Total Debt/Total Assets (%)	11.18	9.09	7.62	8.39	9.08	9.42	8.54	9.46	8.94	8.42	6.89	8.47	7.77	6.52	5.61
Net Debt to Equity	39.38	31.36	28.85	29.68	34.07	36.91	32.76	40.06	34.23	31.22	25.84	38.92	33.56	26.38	22.33
Net Debt/Capital (%)	35.76	31.7	30.36	30.34	32.03	33.92	31.5	31.42	28.47	26.93	22.3	26.91	25.5	21.35	19.52
EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx	-79	-128	-140	-108	-131	-215	-156	-266	-364	-224	-244	-292	-252	-285	-348
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	18.81	17.89	16.78	18.31	17.67	17.11	17.09	19.26	20.51	21.75	22.39	21.61	21.86	23.52	22.69
Long-Term Debt/Equity (%)	33.45	31.85	30.07	31.24	37.15	39.56	0.4	36.09	32.23	31.67	26.87	40.2	33.97	26.94	22.75
Long-Term Debt/Capital (%)	29.65	31.25	31.24	31.44	33.94	35.5	0.37	28.16	26.45	27.21	22.98	27.55	25.73	21.7	19.81
Long-Term Debt/Total Assets (%)	8.89	8.43	7.62	8.39	9.08	9.42	0.1	8.39	8.03	8.42	6.89	8.47	7.77	6.52	5.61
Total Debt/Equity (%)	42.06	34.34	30.07	31.24	37.15	39.56	35.61	40.7	35.88	31.67	26.87	40.2	33.97	26.94	22.75
Total Debt/Capital (%)	37.28	33.7	31.24	31.44	33.94	35.5	33.33	31.76	29.44	27.21	22.98	27.55	25.73	21.7	19.81
Total Debt/Total Assets (%)	11.18	9.09	7.62	8.39	9.08	9.42	8.54	9.46	8.94	8.42	6.89	8.47	7.77	6.52	5.61
CFO/Total Liabilities	9.34	10.14	10.43	9.15	10.18	10.73	12.77	17.58	15.18	14.67	14.67	11.5	15.56	18.86	18.93
CFO/CapEx	18.98	13.25	13.53	15.96	17.54	12.71	24.13	23.63	17.23	30.9	31.88	23.46	42.23	53.05	50.43
Altman's Z-Score	1.41	1.42	1.48	1.48	1.44	1.43	1.6	1.54	1.61	1.7	1.66	1.72	1.81	2.08	1.89

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	5.56	5.58	5.59	5.66	5.54	5.51	5.4	5.36	4.49	3.7	3.59	3.24	3.73	4.16	4.54
Days Sales Outstanding	65.63	65.36	65.28	64.5	65.93	66.22	67.59	68.08	81.35	98.73	101.67	112.73	97.89	87.65	80.34
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	12,336	12,730	16,337	15,940	18,619	20,650	32,711	35,136	42,261	57,835	59,999	75,803	93,163	140,292	133,512
- Cash & Cash Equivalents	156	179	75	108	224	212	265	70	226	76	187	204	85	143	125
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	494	494	494	494	494	494	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	2,442	2,063	1,861	2,165	2,708	3,148	3,306	4,405	4,906	5,396	4,899	6,388	6,889	6,893	6,897
Enterprise Value	1,311	850	3,310	2,298	3,598	3,770	12,681	10,058	12,526	21,619	20,389	32,968	38,293	71,095	120,573
Total Capital	6,550	6,122	5,957	6,886	7,978	8,868	9,920	13,869	16,665	19,830	21,317	23,188	26,769	31,762	34,810
Total Debt/Capital (%)	37.28	33.7	31.24	31.44	33.94	35.5	33.33	31.76	29.44	27.21	22.98	27.55	25.73	21.7	19.81
Total Debt / EV	1.86	2.43	0.56	0.94	0.75	0.83	0.26	0.44	0.39	0.25	0.24	0.19	0.18	0.1	0.06
EV/Sales	0.08	0.05	0.18	0.12	0.17	0.16	0.47	0.31	0.32	0.51	0.43	0.66	0.62	0.94	1.38
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	0.83	0.48	1.67	1.27	1.51	1.33	3.28	1.57	1.95	3.05	2.57	4.68	3.53	4.63	6.79
EV/Free Cash Flow to Firm	0.79	0.45	1.56	1.2	1.43	1.24	3.15	1.5	1.85	2.96	2.49	4.5	3.45	4.55	6.66
Diluted Market Cap	12,426	12,825	16,460	16,054	18,737	20,768	32,987	35,396	42,507	58,102	60,266	76,153	93,577	140,819	133,922
Diluted Enterprise Value	14,712	14,709	18,246	18,110	21,220	23,704	36,028	40,225	47,682	63,915	65,471	82,831	100,875	147,569	140,694
EV per Share	2.07	1.41	5.53	3.89	6.15	6.48	21.83	17.27	21.46	36.96	34.88	56.41	65.47	121.43	205.65
TTM Sales	15,761	17,070	18,156	19,377	20,832	23,417	26,816	31,955	38,998	42,638	47,676	49,587	62,083	75,343	87,637
TTM EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	1,589	1,776	1,980	1,804	2,385	2,834	3,871	6,423	6,408	7,078	7,936	7,040	10,856	15,340	17,769
TTM Free Cash Flow to Firm	1,667	1,904	2,120	1,912	2,516	3,049	4,027	6,689	6,771	7,302	8,179	7,332	11,108	15,625	18,117

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	7.88	7.05	8.07	8.75	7.73	7.05	8.43	5.4	6.42	8.15	7.53	10.66	8.59	9.14	7.48
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	1,311	850	3,310	2,298	3,598	3,770	12,681	10,058	12,526	21,619	20,389	32,968	38,293	71,095	120,573
Low Price	16.88	19.01	21.36	22.53	25.23	29.32	35.23	50.79	58.1	62.18	84.89	100.81	111.41	159.34	199.9
EV/Sales	0.08	0.05	0.18	0.12	0.17	0.16	0.47	0.31	0.32	0.51	0.43	0.66	0.62	0.94	1.38
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	12.15	14.11	14.02	12.44	14.69	20.03	20.54	13.55	10.72	10.19	18.05	109.07	24.1	16.58	11.81
Price/Earnings Average	12.28	14.17	13.11	11.54	13.41	18.44	16.26	13.99	10.99	8.76	16.74	98.58	21.19	15.24	13.05
Price/Earnings High	13.75	15.65	14.67	12.69	15.68	20.28	20.86	16.55	12.58	10.51	18.92	113.1	25.06	18.72	15.19
Price/Earnings Low	10.51	12.71	10.98	10.39	11.65	16.54	12.85	11.4	8.6	6.41	14.93	84.77	16.86	11.02	10.36
Price/Book Value	3	3.14	3.99	3.38	3.53	3.61	4.95	3.92	3.75	4.15	3.77	4.65	4.81	5.64	4.78
Price/Book Value Average	3.04	3.15	3.73	3.13	3.22	3.32	3.91	4.05	3.85	3.57	3.49	4.2	4.23	5.18	5.29
Price/Book Value High	3.4	3.48	4.17	3.44	3.77	3.66	5.02	4.78	4.4	4.28	3.95	4.82	5	6.37	6.15
Price/Book Value Low	2.6	2.83	3.12	2.82	2.8	2.98	3.09	3.3	3.01	2.61	3.12	3.61	3.36	3.75	4.2
Price/Tangible Book Value	2.12	2.12	2.64	2.3	2.93	2.92	3.86	3.67	3.38	3.63	3.49	5.03	4.71	5.48	4.4
Price/Tangible Book Value Average	2.15	2.13	2.47	2.14	2.68	2.69	3.06	3.79	3.47	3.12	3.24	4.54	4.14	5.04	4.87
Price/Tangible Book Value High	2.4	2.35	2.76	2.35	3.13	2.96	3.92	4.48	3.97	3.75	3.66	5.21	4.9	6.19	5.67
Price/Tangible Book Value Low	1.84	1.91	2.07	1.92	2.33	2.41	2.42	3.09	2.71	2.28	2.89	3.91	3.29	3.65	3.87
Price/Sales	0.78	0.75	0.9	0.82	0.89	0.88	1.22	1.1	1.08	1.36	1.26	1.53	1.5	1.86	1.52
Price/Sales Average	0.79	0.75	0.84	0.76	0.82	0.81	0.97	1.14	1.11	1.17	1.17	1.38	1.32	1.71	1.68
Price/Sales High	0.89	0.83	0.94	0.84	0.95	0.89	1.24	1.34	1.27	1.4	1.32	1.59	1.56	2.1	1.96
Price/Sales Low	0.68	0.67	0.7	0.69	0.71	0.73	0.76	0.93	0.87	0.85	1.04	1.19	1.05	1.24	1.34
Price/Cash Flow	8.24	7.53	8.6	9.24	8.12	7.56	8.71	5.59	6.75	8.38	7.73	11.07	8.75	9.28	7.61
Price/Cash Flow Average	8.33	7.56	8.04	8.57	7.41	6.96	6.89	5.78	6.92	7.2	7.17	10	7.7	8.53	8.41
Price/Cash Flow High	9.32	8.35	9	9.42	8.67	7.65	8.84	6.83	7.92	8.64	8.1	11.48	9.1	10.48	9.79
Price/Cash Flow Low	7.13	6.78	6.74	7.71	6.44	6.24	5.45	4.71	5.42	5.27	6.39	8.6	6.12	6.17	6.68
Price/Free Cash Flow Average	7.97	7.08	7.54	8.12	7.06	6.48	6.67	5.58	6.58	7.01	6.98	9.64	7.55	8.4	8.27
Price/Free Cash Flow High	8.92	7.82	8.44	8.93	8.25	7.13	8.56	6.6	7.53	8.41	7.89	11.06	8.93	10.32	9.63
Price/Free Cash Flow Low	6.82	6.35	6.32	7.31	6.13	5.82	5.27	4.55	5.15	5.13	6.23	8.29	6.01	6.08	6.57
EV/Sales Average	0.94	0.86	0.94	0.87	0.93	0.94	1.08	1.29	1.24	1.3	1.28	1.52	1.44	1.8	1.76
EV/Sales High	1.03	0.94	1.04	0.94	1.07	1.02	1.35	1.49	1.4	1.54	1.43	1.72	1.68	2.19	2.04
EV/Sales Low	0.82	0.78	0.8	0.79	0.83	0.85	0.88	1.08	1	0.99	1.15	1.32	1.17	1.33	1.41
EV/EBITDA Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	19.51	21.1	27.27	26.99	31.8	35.5	56.32	60.33	72.39	98.88	102.65	129.71	159.28	239.61	227.72
High Price	22.08	23.41	28.54	27.52	33.95	35.95	57.18	73.69	84.96	102.05	107.59	134.5	165.57	270.62	292.99
Enterprise Value Average	14,759	14,673	17,061	16,840	19,477	21,944	28,930	41,130	48,498	55,525	60,833	75,189	89,209	135,689	154,329
Enterprise Value High	16,248	16,007	18,884	18,310	22,362	23,849	36,251	47,746	54,774	65,503	68,092	85,280	104,140	165,198	178,552
Enterprise Value Low	12,960	13,353	14,583	15,363	17,256	19,992	23,503	34,409	39,093	42,183	54,824	65,592	72,462	100,044	123,973

Shares Outstanding	613	605	596	588	584	580	582	583	585	585	584	585	585	586	586
Diluted Weighted Avg Shares	637	608	604	595	589	585	586	587	587	588	587	587	588	588	588
Basic Weighted Avg Shares	632	603	599	591	586	582	581	582	584	585	584	584	585	586	586
Revenue per Share	24.93	28.29	30.31	32.81	35.58	40.26	46.17	54.87	66.8	72.9	81.57	84.85	106.14	128.68	149.47
EBITDA per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	1.61	1.5	1.95	2.17	2.16	1.77	2.74	4.45	6.75	9.71	5.69	1.19	6.61	14.45	19.29
Basic EPS from Cont Ops	1.61	1.5	1.95	2.17	2.22	1.82	2.75	4.5	6.82	9.75	5.73	1.24	6.67	14.48	19.29
Diluted EPS, GAAP	1.59	1.48	1.93	2.15	2.15	1.76	2.72	4.42	6.72	9.66	5.66	1.18	6.58	14.4	19.23
Diluted EPS from Cont Ops	1.59	1.48	1.93	2.15	2.21	1.81	2.73	4.47	6.78	9.71	5.71	1.23	6.64	14.43	19.23
Dividend per Share	0.42	1.42	0.29	1.51	0.69	0.89	0.68	1.15	2.86	2.7	6.46	0.45	0.47	1.16	4.9
Cash Flow per Share	2.37	2.8	3.17	2.92	3.92	4.7	6.47	10.79	10.73	11.81	13.28	11.72	18.2	25.82	29.93
Free Cash Flow per Basic Share	2.24	2.59	2.94	2.74	3.69	4.33	6.2	10.33	10.1	11.42	12.86	11.22	17.77	25.34	29.34
Cash & Equivalents per Share	21.3	23.11	24.85	26.76	30.28	34.43	40.18	51.47	60.18	71.99	76.99	85.07	106.43	129.96	33.83
Book Value per Share	6.5	6.73	6.84	7.99	9	9.83	11.39	15.4	19.29	23.83	27.24	27.9	33.14	42.47	47.61
Tangible Book Value per Share	9.18	9.96	10.33	11.71	10.84	12.16	14.58	16.45	21.41	27.22	29.37	25.81	33.82	43.71	51.72

The Progressive Corporation

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)