The Progressive Corporation

SWX:PGR Stock Report

Market Cap: CHF 91.9b

Progressive Valuation

Is PGR undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of PGR when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

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Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: PGR (CHF159.94) is trading below our estimate of future cash flow value (CHF400.97)

Significantly Below Future Cash Flow Value: PGR is trading below future cash flow value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PGR?

Key metric: As PGR is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for PGR. This is calculated by dividing PGR's market cap by their current earnings.
What is PGR's PE Ratio?
PE Ratio10.5x
EarningsUS$11.31b
Market CapUS$118.56b

Price to Earnings Ratio vs Peers

How does PGR's PE Ratio compare to its peers?

The above table shows the PE ratio for PGR vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average17x
ZURN Zurich Insurance Group
18x5.89%CHF 81.5b
SREN Swiss Re
9.9x-3.37%CHF 37.6b
SLHN Swiss Life Holding
20.8x6.42%CHF 24.5b
HBAN Helvetia Baloise Holding
19.2x19.61%CHF 10.4b
PGR Progressive
10.5x-5.98%CHF 118.6b

Price-To-Earnings vs Peers: Insufficient data to calculate PGR's Price-To-Earnings Ratio vs. peers for valuation analysis.

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does PGR's PE Ratio compare vs other companies in the European Insurance Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
PGR 10.5xIndustry Avg. 13.2xNo. of Companies16PE0816243240+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: PGR is good value based on its Price-To-Earnings Ratio (10.5x) compared to the European Insurance industry average (13.2x).

Price to Earnings Ratio vs Fair Ratio

What is PGR's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

PGR PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio10.5x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate PGR's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst PGR forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 159.94
CHF 188.06
+17.58%
12.43%CHF 258.97CHF 148.09n/a20
Feb ’27CHF 160.30
CHF 190.14
+18.62%
13.25%CHF 258.18CHF 147.64n/a20
Jan ’27n/a
CHF 201.32
0%
12.48%CHF 266.71CHF 149.13n/a20
Dec ’26n/a
CHF 207.20
0%
13.34%CHF 281.69CHF 152.11n/a19
Nov ’26n/a
CHF 207.61
0%
12.83%CHF 279.18CHF 150.33n/a19
Oct ’26n/a
CHF 221.82
0%
11.85%CHF 278.95CHF 150.63n/a19
Sep ’26n/a
CHF 226.55
0%
11.74%CHF 275.75CHF 151.50n/a19
Aug ’26n/a
CHF 228.35
0%
11.63%CHF 267.11CHF 150.25n/a17
Jul ’26n/a
CHF 232.79
0%
14.41%CHF 268.77CHF 146.38n/a18
Jun ’26n/a
CHF 238.79
0%
14.14%CHF 271.50CHF 150.56n/a18
May ’26n/a
CHF 242.02
0%
10.95%CHF 267.03CHF 150.82n/a17
Apr ’26n/a
CHF 257.06
0%
11.07%CHF 289.03CHF 161.75n/a17
Mar ’26n/a
CHF 254.54
0%
12.92%CHF 301.69CHF 145.49n/a17
Feb ’26n/a
CHF 254.79
0%
13.19%CHF 307.82CHF 148.45CHF 160.3017
Jan ’26n/a
CHF 250.12
0%
14.06%CHF 304.74CHF 135.74n/a17
Dec ’25n/a
CHF 245.53
0%
14.09%CHF 297.14CHF 133.94n/a16
Nov ’25n/a
CHF 236.36
0%
15.47%CHF 287.17CHF 131.00n/a16
Oct ’25n/a
CHF 219.57
0%
14.49%CHF 261.48CHF 127.78n/a17
Sep ’25n/a
CHF 209.05
0%
13.58%CHF 249.02CHF 121.97n/a16
Aug ’25n/a
CHF 209.55
0%
13.31%CHF 262.13CHF 127.52n/a16
Jul ’25n/a
CHF 205.03
0%
13.62%CHF 252.14CHF 122.93n/a16
Jun ’25n/a
CHF 201.99
0%
15.13%CHF 258.04CHF 123.61n/a17
May ’25n/a
CHF 201.10
0%
14.91%CHF 248.89CHF 124.90n/a17
Apr ’25n/a
CHF 185.02
0%
17.44%CHF 238.79CHF 103.12n/a18
Mar ’25n/a
CHF 166.58
0%
15.89%CHF 226.11CHF 100.69n/a18
Feb ’25n/a
CHF 156.92
0%
14.60%CHF 210.25CHF 98.23n/a18
CHF 191.77
Fair Value
16.6% undervalued intrinsic discount
20
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/02/09 14:39
End of Day Share Price 2026/02/06 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

The Progressive Corporation is covered by 39 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jacob KilsteinArgus Research Company
Jay GelbBarclays
Taylor ScottBarclays