GURUFOCUS.COM » STOCK LIST » Financial Services » Insurance » Progressive Corp (NYSE:PGR) » Definitions » Debt-to-EBITDA

Progressive (Progressive) Debt-to-EBITDA : 0.56 (As of Mar. 2024)


View and export this data going back to 1987. Start your Free Trial

What is Progressive Debt-to-EBITDA?

Debt-to-EBITDA measures a company's ability to pay off its debt.

Progressive's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2024 was $0 Mil. Progressive's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2024 was $6,890 Mil. Progressive's annualized EBITDA for the quarter that ended in Mar. 2024 was $12,317 Mil. Progressive's annualized Debt-to-EBITDA for the quarter that ended in Mar. 2024 was 0.56.

A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.

The historical rank and industry rank for Progressive's Debt-to-EBITDA or its related term are showing as below:

PGR' s Debt-to-EBITDA Range Over the Past 10 Years
Min: 0.7   Med: 1.23   Max: 4.25
Current: 0.88

During the past 13 years, the highest Debt-to-EBITDA Ratio of Progressive was 4.25. The lowest was 0.70. And the median was 1.23.

PGR's Debt-to-EBITDA is ranked better than
64.65% of 297 companies
in the Insurance industry
Industry Median: 1.44 vs PGR: 0.88

Progressive Debt-to-EBITDA Historical Data

The historical data trend for Progressive's Debt-to-EBITDA can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Progressive Debt-to-EBITDA Chart

Progressive Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Debt-to-EBITDA
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.78 0.70 1.03 4.25 1.26

Progressive Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Debt-to-EBITDA Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.33 2.96 1.11 0.65 0.56

Competitive Comparison of Progressive's Debt-to-EBITDA

For the Insurance - Property & Casualty subindustry, Progressive's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Progressive's Debt-to-EBITDA Distribution in the Insurance Industry

For the Insurance industry and Financial Services sector, Progressive's Debt-to-EBITDA distribution charts can be found below:

* The bar in red indicates where Progressive's Debt-to-EBITDA falls into.



Progressive Debt-to-EBITDA Calculation

Debt-to-EBITDA measures a company's ability to pay off its debt.

Progressive's Debt-to-EBITDA for the fiscal year that ended in Dec. 2023 is calculated as

Debt-to-EBITDA=Total Debt / EBITDA
=(Short-Term Debt & Capital Lease Obligation + Long-Term Debt & Capital Lease Obligation) / EBITDA
=(0 + 6888.6) / 5471.8
=1.26

Progressive's annualized Debt-to-EBITDA for the quarter that ended in Mar. 2024 is calculated as

Debt-to-EBITDA=Total Debt / EBITDA
=(Short-Term Debt & Capital Lease Obligation + Long-Term Debt & Capital Lease Obligation) / EBITDA
=(0 + 6889.7) / 12316.8
=0.56

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data, the EBITDA data used here is four times the quarterly (Mar. 2024) EBITDA data.


Progressive  (NYSE:PGR) Debt-to-EBITDA Explanation

In the calculation of Debt-to-EBITDA, we use the total of Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation divided by EBITDA. In some calculations, Total Liabilities is used to for calculation.


Be Aware

A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.

According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.


Progressive Debt-to-EBITDA Related Terms

Thank you for viewing the detailed overview of Progressive's Debt-to-EBITDA provided by GuruFocus.com. Please click on the following links to see related term pages.


Progressive (Progressive) Business Description

Traded in Other Exchanges
Address
6300 Wilson Mills Road, Mayfield Village, OH, USA, 44143
Progressive underwrites private and commercial auto insurance and specialty lines; it has about 18 million personal auto policies in force and is one of the largest auto insurers in the United States. Progressive markets its policies through independent insurance agencies in the U.S. and Canada and directly via the internet and telephone. Its premiums are split roughly equally between the agent and the direct channel. The company also offers commercial auto policies and entered homeowners insurance through an acquisition in 2015.
Executives
Susan Patricia Griffith officer: Chief Human Resource, Officer 6300 WILSON MILLS ROAD, MAYFIELD VILLAGE OH 44143
Andrew J Quigg officer: Chief Strategy Officer C/O THE PROGRESSIVE CORPORATION, 6300 WILSON MILLS ROAD, MAYFIELD VILLAGE OH 44143
Lori A Niederst officer: CRM President C/O THE PROGRESSIVE CORPORATION, 6300 WILSON MILLS ROAD, MAYFIELD VILLAGE OH 44143
Daniel P Mascaro officer: Vice Pres, Secretary and CLO C/O THE PROGRESSIVE CORPORATION, 6300 WILSON MILLS ROAD, MAYFIELD VILLAGE OH 44143
Stuart B Burgdoerfer director 6300 WILSON MILLS ROAD, MAYFIELD VILLAGE OH 44143
Jeffrey D Kelly director
John P Sauerland officer: Direct Group, President PROGRESSIVE, 7580 NORTHCLIFF AVE. -- SUITE 1000, BROOKLYN OH 44144
Barbara R Snyder director 127 PUBLIC SQUARE, CLEVELAND OH 44114
Steven Broz officer: Chief Information Officer C/O THE PROGRESSIVE CORPORATION, 6300 WILSON MILLS ROAD, MAYFIELD VILLAGE OH 44143
Danelle Marie Barrett director 50 ENTERPRISE CENTER, KVH INDUSTRIES, INC., MIDDLETOWN RI 02842
Philip Bleser director 8760 CLAY ROAD SUITE 100, HOUSTON TX 77494
Devin C Johnson director 6300 WILSON MILLS ROAD, MAYFIELD VILLAGE OH 44143
John Jo Murphy officer: Claims President C/O THE PROGRESSIVE CORPORATION, 6300 WILSON MILLS ROAD, MAYFIELD VILLAGE OH 44143
Patrick K Callahan officer: Personal Lines President C/O THE PROGRESSIVE CORPORATION, 6300 WILSON MILLS ROAD, MAYFIELD VILLAGE OH 44143
Karen Bailo officer: Commercial Lines President 6300 WILSON MILLS ROAD, MAYFIELD VILLAGE OH 44143

Progressive (Progressive) Headlines

From GuruFocus

Q1 2022 Progressive Corp Earnings Call Transcript

By GuruFocus Research 01-23-2024

Progressive Corp 2nd Quarter Investor Event Transcript

By GuruFocus Research 01-23-2024

Q3 2020 Progressive Corp Earnings Call Transcript

By GuruFocus Research 01-23-2024

Q4 2019 Progressive Corp Earnings Call Transcript

By GuruFocus Research 01-23-2024

Q4 2021 Progressive Corp Earnings Call Transcript

By GuruFocus Research 01-23-2024

Q4 2022 Progressive Corp Earnings Call Transcript

By GuruFocus Research 01-23-2024

Q3 2021 Progressive Corp Earnings Call Transcript

By GuruFocus Research 01-23-2024

Progressive Announces Investor Relations Event

By Marketwired 07-26-2023

Q3 2019 Progressive Corp Earnings Call Transcript

By GuruFocus Research 01-23-2024