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Progressive Interest Coverage

: 0 (At Loss) (As of Jun. 2022)
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Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's EBIT by its Interest Expense. Progressive's EBIT for the three months ended in Jun. 2022 was $-573 Mil. Progressive's Interest Expense for the three months ended in Jun. 2022 was $-63 Mil. did not have earnings to cover the interest expense. The higher the ratio, the stronger the company's financial strength is.

The historical rank and industry rank for Progressive's Interest Coverage or its related term are showing as below:

PGR' s Interest Coverage Range Over the Past 10 Years
Min: 11.44   Med: 16.44   Max: 34.06
Current: 5.92


PGR's Interest Coverage is ranked worse than
75.08% of 325 companies
in the Insurance industry
Industry Median: 14.69 vs PGR: 5.92

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.


Progressive Interest Coverage Historical Data

The historical data trend for Progressive's Interest Coverage 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
Interest Coverage
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 14.97 20.00 28.20 34.06 20.26

Progressive Quarterly Data
Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22
Interest Coverage 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 18.72 3.56 24.33 8.19 -

Competitive Comparison

For the Insurance - Property & Casualty subindustry, Progressive's Interest Coverage, along with its competitors' market caps and Interest Coverage 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 Interest Coverage Distribution

For the Insurance industry and Financial Services sector, Progressive's Interest Coverage distribution charts can be found below:

* The bar in red indicates where Progressive's Interest Coverage falls into.



Progressive Interest Coverage Calculation

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:

If Interest Expense is negative and EBIT is positive, then

Interest Coverage=-1* EBIT /Interest Expense

Else if Interest Expense is negative and EBIT is negative, then

The company did not have earnings to cover the interest expense.

Else if Interest Expense is 0 and Long-Term Debt & Capital Lease Obligation is 0, then

The company had no debt.


Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Progressive's Interest Coverage for the fiscal year that ended in Dec. 2021 is calculated as

Here, for the fiscal year that ended in Dec. 2021, Progressive's Interest Expense was $-219 Mil. Its EBIT was $4,429 Mil. And its Long-Term Debt & Capital Lease Obligation was $4,899 Mil.

Interest Coverage=-1* EBIT (A: Dec. 2021 )/Interest Expense (A: Dec. 2021 )
=-1*4428.6/-218.6
=20.26

Progressive's Interest Coverage for the quarter that ended in Jun. 2022 is calculated as

Here, for the three months ended in Jun. 2022, Progressive's Interest Expense was $-63 Mil. Its EBIT was $-573 Mil. And its Long-Term Debt & Capital Lease Obligation was $6,387 Mil.

Progressive did not have earnings to cover the interest expense.

* 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.

The higher the ratio, the stronger the company's Financial Strength is.


Progressive  (NYSE:PGR) Interest Coverage Explanation

Ben Graham requires that a company has a minimum interest coverage of 5 with the companies he invested. If the interest coverage is less than 2, the company is burdened by debt. Any business slow or recession may drag the company into a situation where it cannot pay the interest on its debt.

Interest Coverage is an important factor when GuruFocus ranks a company's overage Financial Strength .


Progressive Interest Coverage Related Terms

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


Progressive Business Description

Progressive logo
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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