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
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
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
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:
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.
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 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.
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