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Progressive Earnings Yield (Joel Greenblatt) %

: 1.77% (As of Jun. 2022)
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Progressive's Enterprise Value for the quarter that ended in Jun. 2022 was $74,661 Mil. Progressive's EBIT for the trailing twelve months (TTM) ended in Jun. 2022 was $1,320 Mil. Progressive's Earnings Yield (Joel Greenblatt) for the quarter that ended in Jun. 2022 was 1.77%.

The historical rank and industry rank for Progressive's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:

PGR' s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 1.69   Med: 9.25   Max: 14.39
Current: 1.7

During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Progressive was 14.39%. The lowest was 1.69%. And the median was 9.25%.

PGR's Earnings Yield (Joel Greenblatt) % is ranked worse than
76.86% of 350 companies
in the Insurance industry
Industry Median: 8.95 vs PGR: 1.70

Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.

A better indicator of the attractiveness of an investment which takes growth into account is the Forward Rate of Return (Yacktman) %. Progressive's Forward Rate of Return (Yacktman) % for the quarter that ended in Jun. 2022 was 22.01%. The Forward Rate of Return uses the normalized Free Cash Flow of the past seven years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.


Progressive Earnings Yield (Joel Greenblatt) % Historical Data

The historical data trend for Progressive's Earnings Yield (Joel Greenblatt) % 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 Annual Data
Trend Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
Earnings Yield (Joel Greenblatt) %
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.40 8.32 11.39 11.60 6.79

Progressive Quarterly Data
Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22
Earnings Yield (Joel Greenblatt) % 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 Premium Member Only Premium Member Only Premium Member Only 11.26 9.20 6.79 4.02 1.77

Competitive Comparison

For the Insurance - Property & Casualty subindustry, Progressive's Earnings Yield (Joel Greenblatt) %, along with its competitors' market caps and Earnings Yield (Joel Greenblatt) % 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 Earnings Yield (Joel Greenblatt) % Distribution

For the Insurance industry and Financial Services sector, Progressive's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where Progressive's Earnings Yield (Joel Greenblatt) % falls into.



Progressive Earnings Yield (Joel Greenblatt) % Calculation

In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.

Progressives Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2021 is calculated as

Earnings Yield (Joel Greenblatt)=EBIT/Enterprise Value
=4428.6/65194.26
=6.79 %

Progressive's EBIT for the trailing twelve months (TTM) ended in Jun. 2022 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,320 Mil.



Progressive  (NYSE:PGR) Earnings Yield (Joel Greenblatt) % Explanation

Joel Greenblatt defines the earnings yield using the above equation because it more accurately reflects the company's profitability relative to its stock price. Items like interest payment and tax etc. are not directly related to the company's operational profitability.

Enterprise Value instead of market cap (share price) is used in the calculation because it is the real price stock and bond investors together pay for the company.


Be Aware

Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.

Forward Rate of Return (Yacktman) % based on Don Yacktman's definition is a better measure of the expected rate of return for a stock.


Progressive Earnings Yield (Joel Greenblatt) % Related Terms

Thank you for viewing the detailed overview of Progressive's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.


Progressive Business Description

Progressive logo
Industry
Address
6300 Wilson Mills Road, Mayfield Village, OH, USA, 44143
Progressive underwrites private and commercial auto insurance and specialty lines; it has over 20 million personal auto policies in force and is the fourth- largest auto insurer 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
Craig Pamela director C/O ACCENTURE 161 N CLARK STREET CHICAGO IL 60601
Clawson William L. Ii officer: Chief Human Resources Officer C/O THE PROGRESSIVE CORPORATION 6300 WILSON MILLS ROAD MAYFIELD VILLAGE OH 44143
Kent Remi officer: Chief Marketing Officer 6300 WILSON MILLS ROAD MAYFIELD VILLAGE OH 44143
Bauer Jonathan S. officer: Chief Investment Officer 6300 WILSON MILLS ROAD MAYFIELD VILLAGE OH 44143
Marshall Mariann Wojtkun officer: Chief Accounting Officer C/O THE PROGRESSIVE CORPORATION 6300 WILSON MILLS RD. MAYFIELD VILLAGE OH 44143
Tighe Jan E director C/O GOLDMAN SACHS & CO. LLC 200 WEST STREET NEW YORK NY 10282
Snyder Barbara R director 127 PUBLIC SQUARE CLEVELAND OH 44114
Quigg Andrew J officer: Chief Strategy Officer C/O THE PROGRESSIVE CORPORATION 6300 WILSON MILLS ROAD MAYFIELD VILLAGE OH 44143
Bleser Philip director 8760 CLAY ROAD SUITE 100 HOUSTON TX 77494
Broz Steven officer: Chief Information Officer C/O THE PROGRESSIVE CORPORATION 6300 WILSON MILLS ROAD MAYFIELD VILLAGE OH 44143
Niederst Lori A officer: CRM President C/O THE PROGRESSIVE CORPORATION 6300 WILSON MILLS ROAD MAYFIELD VILLAGE OH 44143
Bailo Karen officer: Commercial Lines President 6300 WILSON MILLS ROAD MAYFIELD VILLAGE OH 44143
Mascaro Daniel P officer: Vice Pres, Secretary and CLO C/O THE PROGRESSIVE CORPORATION 6300 WILSON MILLS ROAD MAYFIELD VILLAGE OH 44143
Murphy John Jo officer: Claims President C/O THE PROGRESSIVE CORPORATION 6300 WILSON MILLS ROAD MAYFIELD VILLAGE OH 44143
Callahan Patrick K officer: Personal Lines President C/O THE PROGRESSIVE CORPORATION 6300 WILSON MILLS ROAD MAYFIELD VILLAGE OH 44143

Progressive Headlines

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