Filing Flows › Progressive (PGR) › Q2 2026 › vs Q2 2025
Progressive (PGR) Q2 2026 vs Q2 2025 (year over year)
Progressive's revenue rose $1.6B (+7%) from $22.0B in Q2 2025 to $23.6B in Q2 2026. Operating margin 17.8% against 18.1% (-0.3 pts).
Progressive, Q2 2026: revenue $23.6B (+7% year over year), operating margin 17.8%, net earnings $3.3B, operating cash flow $3.6B. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 17.8% | 18.1% | -0.3 pts |
| Net margin | 14.0% | 14.4% | -0.4 pts |
| Free cash flow margin | 14.7% | 17.9% | -3.2 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $23.6B | $22.0B | $1.6B | +7% |
| Operating profit | $4.2B | $4.0B | $227M | +6% |
| Costs & expenses | $19.4B | $18.0B | $1.4B | +8% |
| Pre-tax earnings | $4.2B | $4.0B | $227M | +6% |
| Net earnings | $3.3B | $3.2B | $136M | +4% |
| Income tax | $898M | $807M | $91.0M | +11% |
| Depreciation | $82.0M | $79.0M | $3.0M | +4% |
| Working capital & other | $214M | $786M | −$572M | -73% |
| Operating cash flow | $3.6B | $4.0B | −$433M | -11% |
| Free cash flow (OCF − capex) | $3.5B | $3.9B | −$469M | -12% |
| Capital expenditures | $138M | $102M | $36.0M | +35% |
Questions
How much did Progressive's revenue grow year over year in Q2 2026?
Progressive's revenue rose $1.6B (+7%) from $22.0B in Q2 2025 to $23.6B in Q2 2026. Operating margin 17.8% against 18.1% (-0.3 pts).