Progressive (LTS:0KOC) Scaled Net Operating Assets: 0.22 (As of Mar. 2026)


LTS:0KOC Progressive Corp LTS:0KOC
88 GF Score
Price $230.17
GF Value $270.38
Valuation Modestly Undervalued
! 5 Warning Signs
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What is Progressive Scaled Net Operating Assets?

Progressive LTS:0KOC +2.07% 88 Scaled Net Operating Assets is 0.22 as of Mar. 2026. GuruFocus rates LTS:0KOC with a GF Score™ of 88/100 and a GF Value™ of $270.38 (Modestly Undervalued). The stock has 5 warning signs investors should review.

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 Mar. 2026 was $109,116 Mil. Progressive's operating liabilities for the quarter that ended in Mar. 2026 was $81,784 Mil. Progressive's Total Assets for the quarter that ended in Dec. 2025 was $123,039 Mil. Therefore, Progressive's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.22.

LTS:0KOC
88GF Score
Progressive Corp LTS:0KOC
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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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. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(122914-85819)/105745
=0.35

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=123039 - 125
=122914

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=92716 - 6897 - 0
=85819

Progressive's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(109116-81784)/123039
=0.22

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=122209 - 13093
=109116

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=90170 - 8386 - 0
=81784

* 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.

What does a Scaled Net Operating Assets of 0.22 mean?
Progressive (LTS:0KOC) has a Scaled Net Operating Assets of 0.22 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Progressive and its competitors.
Is Progressive's Scaled Net Operating Assets too high?
Progressive's current Scaled Net Operating Assets is 0.22. Overall, Progressive has a GF Score™ of 88/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Progressive's Scaled Net Operating Assets compare to CB and TRV?
Progressive's Scaled Net Operating Assets of 0.22 can be compared against companies in the Insurance industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for an Insurance company?
A good Scaled Net Operating Assets depends on the Insurance industry context. However, Scaled Net Operating Assets should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Progressive and its competitors. Progressive's current Scaled Net Operating Assets is 0.22. 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 $270.38, compared to a current price of $230.17 — trading 14.9% below its estimated fair value. The current Scaled Net Operating Assets is 0.22. Progressive's overall GF Score™ is 88/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For Progressive (LTS:0KOC), the current Scaled Net Operating Assets is 0.22 as of Mar. 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 $230.17 is trading 14.9% below its estimated GF Value™ of $270.38. GuruFocus considers Progressive to be Modestly Undervalued.

Key valuation signals for LTS:0KOC:

  • Scaled Net Operating Assets: 0.22
  • GF Value™: $270.38 vs. price of $230.17 (14.9% below fair value)
  • GF Score™: 88/100 with 5 warning signs

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 Business Description

Address 300 North Commons Boulevard, Mayfield Village, OH, USA, 44143
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.
88GF Score

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Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$230.17
Price
$270.38
GF Value