Progressive Corp (PGR) — Working Capital to Net Assets Ratio
Progressive Corp (PGR) has a Working Capital to Net Assets ratio of -182.7% as of March 2026. Working capital of $-62.73 Billion (current assets of $19.48 Billion minus current liabilities of $82.20 Billion) is measured against net assets of $34.33 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See PGR defensive interval ratio to measure how many days the company can operate on defensive assets alone.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Progressive Corp Working Capital to Net Assets (1994–2025)
This chart shows how Progressive Corp's Working Capital to Net Assets ratio has evolved across 32 annual periods from 1994 to 2025. As of March 2026, the ratio stands at -182.7%, reflecting working capital of $-62.73 Billion against net assets of $34.33 Billion USD. For the complete balance sheet picture, see Progressive Corp balance sheet assets.
Annual Working Capital to Net Assets for Progressive Corp (1994–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Progressive Corp from 1994 to 2025, covering 32 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. Check Progressive Corp liquidity resilience to evaluate the company's liquid asset resilience ratio.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | -93.6% | $-28.37 Billion | $30.32 Billion | $40.16 Billion | $68.53 Billion | ▲ +61.2 pp |
| 2024 | -154.7% | $-39.59 Billion | $25.59 Billion | $23.32 Billion | $62.91 Billion | ▼ -278.2 pp |
| 2023 | 123.5% | $25.03 Billion | $20.28 Billion | $79.56 Billion | $54.52 Billion | ▼ -258.7 pp |
| 2022 | 382.2% | $60.73 Billion | $15.89 Billion | $66.26 Billion | $5.53 Billion | ▲ +174.0 pp |
| 2021 | 208.2% | $37.95 Billion | $18.23 Billion | $59.20 Billion | $21.24 Billion | ▲ +5.1 pp |
| 2020 | 203.1% | $34.60 Billion | $17.04 Billion | $54.21 Billion | $19.60 Billion | ▼ -12.4 pp |
| 2019 | 215.5% | $29.47 Billion | $13.67 Billion | $45.80 Billion | $16.33 Billion | ▲ +427.9 pp |
| 2018 | -212.4% | $-22.99 Billion | $10.82 Billion | $8.36 Billion | $31.35 Billion | ▼ -23.1 pp |
| 2017 | -189.3% | $-17.58 Billion | $9.28 Billion | $8.56 Billion | $26.14 Billion | ▼ -13.0 pp |
| 2016 | -176.3% | $-14.03 Billion | $7.96 Billion | $8.29 Billion | $22.32 Billion | ▲ +8.0 pp |
| 2015 | -184.3% | $-13.44 Billion | $7.29 Billion | $6.38 Billion | $19.82 Billion | ▼ -27.0 pp |
| 2014 | -157.3% | $-10.90 Billion | $6.93 Billion | $5.79 Billion | $16.69 Billion | ▼ -423.7 pp |
| 2013 | 266.4% | $16.49 Billion | $6.19 Billion | $18.27 Billion | $1.78 Billion | ▲ +257.9 pp |
| 2012 | 8.5% | $511.90 Million | $6.01 Billion | $15.14 Billion | $14.62 Billion | ▼ -236.0 pp |
| 2011 | 244.5% | $14.20 Billion | $5.81 Billion | $16.47 Billion | $2.27 Billion | ▲ +174.8 pp |
| 2010 | 69.7% | $4.22 Billion | $6.05 Billion | $4.27 Billion | $48.70 Million | ▲ +4.9 pp |
| 2009 | 64.8% | $3.73 Billion | $5.75 Billion | $3.76 Billion | $36.50 Million | ▼ -21.2 pp |
| 2008 | 86.1% | $3.63 Billion | $4.22 Billion | $3.63 Billion | $67.60 | ▲ +28.2 pp |
| 2007 | 57.8% | $2.85 Billion | $4.94 Billion | $2.85 Billion | $46.00 | ▲ +11.4 pp |
| 2006 | 46.4% | $3.17 Billion | $6.85 Billion | $3.17 Billion | $7.50 | ▲ +15.7 pp |
| 2005 | 30.7% | $1.87 Billion | $6.11 Billion | $3.38 Billion | $1.51 Billion | ▼ -17.4 pp |
| 2004 | 48.1% | $2.48 Billion | $5.16 Billion | $3.80 Billion | $1.32 Billion | ▲ +11.6 pp |
| 2003 | 36.5% | $1.84 Billion | $5.03 Billion | $3.13 Billion | $1.29 Billion | ▼ -27.8 pp |
| 2002 | 64.3% | $2.42 Billion | $3.77 Billion | $2.42 Billion | $75.60 | ▲ +2.4 pp |
| 2001 | 62.0% | $2.01 Billion | $3.25 Billion | $2.01 Billion | $45.90 | ▲ +213.1 pp |
| 2000 | -151.1% | $-4.34 Billion | $2.87 Billion | $2.10 Billion | $6.43 Billion | ▼ -21.9 pp |
| 1999 | -129.2% | $-3.56 Billion | $2.75 Billion | $2.35 Billion | $5.90 Billion | ▼ -17.6 pp |
| 1998 | -111.6% | $-2.85 Billion | $2.56 Billion | $2.28 Billion | $5.13 Billion | ▲ +12.8 pp |
| 1997 | -124.4% | $-2.66 Billion | $2.14 Billion | $1.99 Billion | $4.65 Billion | ▲ +15.1 pp |
| 1996 | -139.5% | $-2.34 Billion | $1.68 Billion | $1.39 Billion | $3.73 Billion | ▼ -15.9 pp |
| 1995 | -123.6% | $-1.82 Billion | $1.48 Billion | $1.38 Billion | $3.20 Billion | ▲ +10.9 pp |
| 1994 | -134.5% | $-1.55 Billion | $1.15 Billion | $1.30 Billion | $2.85 Billion | — |