Progressive Corp

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PGR : NYSE : Financial
$47.7 | %
Today's Range: 0.0 - 0.0
Avg. Daily Volume: 3397200.0
09/20/17 - 4:02 PM ET

Financial Analysis


PROGRESSIVE CORP-OHIO's gross profit margin for the second quarter of its fiscal year 2017 has significantly increased when compared to the same period a year ago. The company managed to grow both sales and net income at a faster pace than the average competitor in its industry this quarter as compared to the same quarter a year ago.

During the same period, stockholders' equity ("net worth") has increased by 14.75% from the same quarter last year.

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Income Statement Q2 FY17 Q2 FY16
Net Sales ($mil)6599.15812.4
EBITDA ($mil)656.5366.2
EBIT ($mil)598.0320.0
Net Income ($mil)367.6190.9


Balance Sheet Q2 FY17 Q2 FY16
Cash & Equiv. ($mil)8423.28530.2
Total Assets ($mil)36689.831958.2
Total Debt ($mil)3383.42664.1
Equity ($mil)8991.57835.5


Profitability Q2 FY17 Q2 FY16
Gross Profit Margin9.956.3
EBITDA Margin9.946.3
Operating Margin9.065.51
Sales Turnover0.680.69
Return on Assets3.743.3
Return on Equity15.2713.5
Debt Q2 FY17 Q2 FY16
Current Ratio0.00.0
Debt/Capital0.270.25
Interest Expense43.434.3
Interest Coverage13.789.33


Share Data Q2 FY17 Q2 FY16
Shares outstanding (mil)581.05581.9
Div / share0.00.0
EPS0.630.33
Book value / share15.4713.47
Institutional Own % n/a n/a
Avg Daily Volume3471900.02901315.0

Valuation


BUY. The current P/E ratio indicates a significant discount compared to an average of 49.81 for the Insurance industry and a discount compared to the S&P 500 average of 24.97. For additional comparison, its price-to-book ratio of 2.99 indicates valuation on par with the S&P 500 average of 3.11 and a premium versus the industry average of 1.87. The current price-to-sales ratio is well below the S&P 500 average and is also below the industry average, indicating a discount. The valuation analysis reveals that, PROGRESSIVE CORP-OHIO seems to be trading at a discount to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
PGR 19.62 Peers 49.81   PGR 8.43 Peers 12.52

Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations.

PGR is trading at a significant discount to its peers.

 

Discount. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

PGR is trading at a significant discount to its peers.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
PGR 16.90 Peers 16.80   PGR 0.53 Peers 1.76

Premium. A higher price-to-projected earnings ratio than its peers can signify a more expensive stock or higher future growth expectations.

PGR is trading at a premium to its peers.

 

Discount. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

PGR trades at a significant discount to its peers.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
PGR 2.99 Peers 1.87   PGR 31.11 Peers 207.29

Premium. A higher price-to-book ratio makes a stock less attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

PGR is trading at a significant premium to its peers.

 

Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

However, PGR is expected to significantly trail its peers on the basis of its earnings growth rate.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
PGR 1.08 Peers 1.50   PGR 13.33 Peers 11.43

Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

PGR is trading at a significant discount to its industry on this measurement.

 

Higher. A sales growth rate that exceeds the industry implies that a company is gaining market share.

PGR has a sales growth rate that exceeds its peers.

 

 

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