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Progressive (LTS:0KOC) Scaled Net Operating Assets : -0.41 (As of Dec. 2024)


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What is Progressive Scaled Net Operating Assets?

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Progressive's operating assets for the quarter that ended in Dec. 2024 was $29,655 Mil. Progressive's operating liabilities for the quarter that ended in Dec. 2024 was $73,261 Mil. Progressive's Total Assets for the quarter that ended in Sep. 2024 was $105,203 Mil. Therefore, Progressive's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2024 was -0.41.

Progressive Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Progressive's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2024 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2024 )
=(Operating Assets (A: Dec. 2024 )-Operating Liabilities (A: Dec. 2024 ))/Total Assets (A: Dec. 2023 )
=(105602-73261)/88691
=0.36

where

Operating Assets(A: Dec. 2024 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=105745 - 143
=105602

Operating Liabilities(A: Dec. 2024 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=80154 - 6893 - 0
=73261

Progressive's Scaled Net Operating Assets (SNOA) for the quarter that ended in Dec. 2024 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Dec. 2024 )
=(Operating Assets (Q: Dec. 2024 )-Operating Liabilities (Q: Dec. 2024 ))/Total Assets (Q: Sep. 2024 )
=(29655-73261)/105202.5
=-0.41

where

Operating Assets(Q: Dec. 2024 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=105745 - 76090
=29655

Operating Liabilities(Q: Dec. 2024 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=80154 - 6893 - 0
=73261

* 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.

Progressive Scaled Net Operating Assets Related Terms

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Progressive Business Description

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Address
300 North Commons Boulevard, Mayfield Village, OH, USA, 44143
Website
https://www.progressive.com
Progressive underwrites private and commercial auto insurance and specialty lines; it has almost 24 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 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.