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ProgressiveLTS:0KOC -9.31%87 PB Ratio is 3.51 as of Jul. 16, 2026, which is 4% below its 10-year median of 3.66. GuruFocus rates LTS:0KOC with a GF Score™ of 87/100 and a GF Value™ of $274.55 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 498 Insurance companies, Progressive ranks worse than 88.15% on this metric.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-07-16), Progressive's share price is $206.24. Progressive's Book Value per Share for the quarter that ended in Mar. 2026 was $58.76. Hence, Progressive's PB Ratio of today is 3.51.
Good Sign:
Progressive Corp stock PB Ratio (=3.74) is close to 3-year low of 3.41.
The historical rank and industry rank for Progressive's PB Ratio or its related term are showing as below:
LTS:0KOC'
s PB Ratio Range Over the Past 10 Years
Min: 2.23 Med: 3.66 Max: 6.5
Current: 3.74
During the past 13 years, Progressive's highest PB Ratio was 6.50. The lowest was 2.23. And the median was 3.66.
LTS:0KOC's PB Ratio is ranked worse than 88.15% of 498
companies
in the Insurance industry
Industry Median: 1.4
vs LTS:0KOC: 3.74
During the past 12 months, Progressive's average Book Value Per Share Growth Rate was 11.00% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 25.30% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 13.30% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 14.70% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Progressive was 29.00% per year. The lowest was -7.00% per year. And the median was 12.90% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Progressive PB Ratio Related Terms
Progressive PB Ratio Historical Data
* Premium members only.
The historical data trend for Progressive's PB Ratio 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.
For the Insurance - Property & Casualty subindustry, Progressive's PB Ratio, along with its competitors' market caps and PB Ratio 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 PB Ratio vs Insurance Industry
For the Insurance industry and Financial Services sector, Progressive's PB Ratio distribution charts can be found below:
* The bar in red indicates where Progressive's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
Progressive's PB Ratio for today is calculated as follows:
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Progressive (LTS:0KOC) has a PB Ratio of 3.51 as of Jul. 16, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Progressive and its competitors. This is near median its historical median of 3.66. Over the past decade, Progressive's PB Ratio has ranged from 2.23 to 6.50. According to the industry distribution chart, Progressive ranks #439 out of 498 companies in the Insurance industry, placing it in the top 88.2%.
Is Progressive's PB Ratio too high?
Progressive's current PB Ratio of 3.51 is near median its 10-year median of 3.66. Over the past 10 years, this metric has ranged from a low of 2.23 to a high of 6.50. The Insurance industry median PB Ratio is 1.40. Progressive's value of 3.51 is 150.7% above this industry median. Based on the distribution chart, Progressive ranks #439 out of 498 companies in the Insurance industry, which is in the bottom quartile relative to peers. Overall, Progressive has a GF Score™ of 87/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Progressive's PB Ratio compare to CB and TRV?
According to the Insurance industry distribution chart, Progressive ranks #439 out of 498 companies for PB Ratio. This places Progressive in the lower half of its industry. The industry median PB Ratio is 1.40. Progressive's value of 3.51 is 150.7% above this benchmark. Historically, Progressive's own PB Ratio has ranged from 2.23 to 6.50 over the past decade. While the company's 10-year median is 3.66 vs. the industry median of 1.40, Progressive has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PB Ratio for an Insurance company?
The median PB Ratio among Insurance companies is 1.40, based on 498 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Progressive's current PB Ratio of 3.51 is 150.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Progressive and its competitors. For the Insurance industry, the median PB Ratio is 1.40 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Progressive's current PB Ratio is 3.51, which is near median its own 10-year median of 3.66. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Progressive stock overvalued right now?
Based on GuruFocus' analysis, Progressive (LTS:0KOC) is currently considered Modestly Undervalued. The stock's GF Value™ is $274.55, compared to a current price of $206.24 — trading 24.9% below its estimated fair value. The current PB Ratio is 3.51, which is near median its 10-year median of 3.66 and 150.7% above the Insurance industry median of 1.40. Progressive's overall GF Score™ is 87/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Progressive (LTS:0KOC), the current PB Ratio is 3.51 as of Jul. 16, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Progressive (LTS:0KOC) Overvalued in 2026?
Based on GuruFocus' analysis, Progressive stock appears to be undervalued.
The current stock price of $206.24 is trading 24.9% below its estimated GF Value™ of $274.55.
GuruFocus considers Progressive to be Modestly Undervalued.
Key valuation signals for LTS:0KOC:
PB Ratio: 3.51 (near median its 10-year median of 3.66)
GF Value™: $274.55 vs. price of $206.24 (24.9% below fair value)
Industry Position: 150.7% above the Insurance median (#439 of 498)
No single metric tells the full story. See the LTS:0KOC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Progressive underwrites private and commercial auto insurance and specialty lines; it has almost 27 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 US and Canada and directly via the internet and telephone. Its premiums are split between the agent and the direct channel. The company also offers commercial auto policies and entered homeowners insurance through an acquisition in 2015.
87GF Score
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