PROGRESSIVE CORP/OH/ vs Travelers Companies, Inc., two Insurance stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Both write property and casualty risk, so both answer to the combined ratio and reserve discipline. Progressive's auto book earns the higher return on equity, 36.08% against Travelers' 23.77%, and both are strong by sector standards. The market prices Progressive dearer on book, 4.11 times against Travelers' 2.24, while their earnings multiples sit close, 11.41 for Progressive and 9.77 for Travelers. Travelers carries the fatter net margin, 15.54% versus 12.92%. Progressive is nearly twice the size at $131.6B against $71.5B, and pays the far larger dividend, 6.2% versus 0.86%. Two disciplined casualty houses, priced by how differently each returns cash.
Comparison updated 2026-07-11.
| Metric | PGR | TRV |
|---|---|---|
| Price | $230.67 | $338.86 |
| Market cap | $135.4B | $74.0B |
| Sector | Financial Services | Financial Services |
| Stage | Mature | Mature |
| P/E | 11.7 | 10.1 |
| P/B | 4.23 | 2.31 |
| P/S | 1.51 | 1.51 |
| EV/EBITDA | 1802.9 | 380.3 |
| Revenue growth | +14.1% | +4.2% |
| Net margin | 12.9% | 15.5% |
| Return on equity | 36.1% | 23.8% |
| Return on assets | 9.5% | 5.3% |
| Dividend yield | 6.0% | 0.8% |
| Debt / equity | 0.00 | 0.00 |
| Piotroski F (quality) | 8 / 9 | 7 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.