Filing Flows › Progressive (PGR) › Q3 2026 › vs Q3 2025
Progressive (PGR) Q3 2026 vs Q3 2025 (year over year)
Progressive's revenue rose $680M (+3%) from $22.5B in Q3 2025 to $23.2B in Q3 2026. Operating margin 14.0% against 14.8% (-0.8 pts).
Progressive, Q3 2026: revenue $23.2B (+3% year over year), operating margin 14.0%, net earnings $2.5B, operating cash flow $4.5B. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 14.0% | 14.8% | -0.8 pts |
| Net margin | 11.0% | 11.6% | -0.7 pts |
| Free cash flow margin | 19.0% | 22.8% | -3.8 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $23.2B | $22.5B | $680M | +3% |
| Operating profit | $3.2B | $3.3B | −$87.0M | -3% |
| Costs & expenses | $20.0B | $19.2B | $767M | +4% |
| Pre-tax earnings | $3.2B | $3.3B | −$87.0M | -3% |
| Net earnings | $2.5B | $2.6B | −$73.0M | -3% |
| Income tax | $694M | $708M | −$14.0M | -2% |
| Depreciation | $97.0M | $81.0M | $16.0M | +20% |
| Working capital & other | $1.9B | $2.5B | −$620M | -25% |
| Operating cash flow | $4.5B | $5.2B | −$677M | -13% |
| Free cash flow (OCF − capex) | $4.4B | $5.1B | −$727M | -14% |
| Capital expenditures | $116M | $66.0M | $50.0M | +76% |
Questions
How much did Progressive's revenue grow year over year in Q3 2026?
Progressive's revenue rose $680M (+3%) from $22.5B in Q3 2025 to $23.2B in Q3 2026. Operating margin 14.0% against 14.8% (-0.8 pts).