Financials The Progressive Corporation Sao Paulo

Equities

P1GR34

BRP1GRBDR007

Property & Casualty Insurance

Market Closed - Sao Paulo 01:21:05 16/07/2024 am IST 5-day change 1st Jan Change
589.3 BRL +6.59% Intraday chart for The Progressive Corporation +2.36% +53.23%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 42,321 57,874 60,057 75,889 93,173 1,24,929 - -
Enterprise Value (EV) 1 42,321 57,874 60,057 79,212 99,976 1,24,929 1,24,929 1,24,929
P/E ratio 10.8 x 10.2 x 18.1 x 110 x 24.2 x 19.2 x 17.4 x 16.3 x
Yield 3.66% 4.96% 1.85% 0.31% 0.72% 1.01% 1.42% 1.68%
Capitalization / Revenue 1.13 x 1.43 x 1.29 x 1.49 x 1.51 x 1.73 x 1.52 x 1.34 x
EV / Revenue 1.13 x 1.43 x 1.29 x 1.49 x 1.51 x 1.73 x 1.52 x 1.34 x
EV / EBITDA - - - - 1,70,27,791 x - - -
EV / FCF - - - 1,15,74,151 x 89,66,411 x - - -
FCF Yield - - - 0% 0% - - -
Price to Book 3.21 x 3.5 x 3.38 x 4.93 x 4.71 x 5 x 4.2 x 3.35 x
Nbr of stocks (in thousands) 5,84,630 5,85,300 5,85,064 5,85,070 5,84,961 5,85,698 - -
Reference price 2 72.39 98.88 102.6 129.7 159.3 213.3 213.3 213.3
Announcement Date 29/01/20 27/01/21 26/01/22 25/01/23 24/01/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 37,578 40,569 46,405 51,081 61,550 72,416 82,178 93,545
EBITDA - - - - 5,472 - - -
EBIT 1 5,350 7,390 4,429 1,166 5,172 8,946 10,540 11,077
Operating Margin 14.24% 18.22% 9.54% 2.28% 8.4% 12.35% 12.83% 11.84%
Earnings before Tax (EBT) 1 5,160 7,173 4,210 922.1 4,904 8,251 9,065 9,737
Net income 1 3,970 5,705 3,351 721.5 3,902 6,526 7,176 7,600
Net margin 10.57% 14.06% 7.22% 1.41% 6.34% 9.01% 8.73% 8.12%
EPS 2 6.720 9.660 5.660 1.180 6.580 11.13 12.26 13.07
Free Cash Flow - - - 6,557 10,391 - - -
FCF margin - - - 12.84% 16.88% - - -
FCF Conversion (EBITDA) - - - - 189.91% - - -
FCF Conversion (Net income) - - - 908.77% 266.28% - - -
Dividend per Share 2 2.650 4.900 1.900 0.4000 1.150 2.155 3.021 3.590
Announcement Date 29/01/20 27/01/21 26/01/22 25/01/23 24/01/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 10,749 13,181 12,422 13,018 12,460 16,110 14,717 15,594 15,130 18,962 17,464 18,425 17,713 21,541 19,577
EBITDA - - - - - - - - - - - - - - -
EBIT - - - - - - - - 2,573 - - - - - -
Operating Margin - - - - - - - - 17.01% - - - - - -
Earnings before Tax (EBT) 1 1,204 390.2 -635.9 142.5 1,025 554.4 435.7 1,410 2,503 2,940 1,357 1,743 2,157 2,392 1,808
Net income 1 962.3 313.9 -542.9 124.1 826.4 447.9 345.4 1,121 1,988 2,331 1,045 1,438 1,723 1,963 1,464
Net margin 8.95% 2.38% -4.37% 0.95% 6.63% 2.78% 2.35% 7.19% 13.14% 12.29% 5.98% 7.81% 9.73% 9.11% 7.48%
EPS 2 1.630 0.5200 -0.9400 0.2000 1.400 0.7500 0.5700 1.890 3.370 3.940 1.770 2.464 2.928 3.377 2.604
Dividend per Share 2 1.600 0.1000 0.1000 0.1000 0.1000 0.1000 0.1000 0.1000 0.8500 - 0.1500 0.1000 2.100 0.1000 0.1000
Announcement Date 26/01/22 14/04/22 15/07/22 13/10/22 25/01/23 13/04/23 13/07/23 13/10/23 24/01/24 12/04/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - 3,323 6,804 - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - 1.243 x - - -
Free Cash Flow - - - 6,557 10,391 - - -
ROE (net income / shareholders' equity) 25.9% 28.7% 12.2% 13% 21.6% 29.6% 26.4% 22.9%
ROA (Net income/ Total Assets) 6.26% 7.41% 4.96% 0.98% 4.75% 7% 6.9% 6.7%
Assets 1 63,413 76,992 67,616 73,323 82,078 93,229 1,04,005 1,13,430
Book Value Per Share 2 22.50 28.30 30.40 26.30 33.80 42.60 50.80 63.70
Cash Flow per Share - 11.80 - 11.70 - - - -
Capex - 3,617 244 292 252 - - -
Capex / Sales - 8.92% 0.52% 0.57% 0.41% - - -
Announcement Date 29/01/20 27/01/21 26/01/22 25/01/23 24/01/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
20
Last Close Price
213.3 USD
Average target price
231.2 USD
Spread / Average Target
+8.42%
Consensus
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  5. Financials The Progressive Corporation