Basis: Latest reported fiscal quarter. Source: stored company filings and market data; unavailable inputs remain N/A.
Is the operating margin high or low?
The operating margin of 17.82% is 76% above its 5-year average of 10.10%, near the high end of its 5-year range (-5.52%–18.10%).
As of the fiscal period ended Sunday, May 31, 2026. 7.42% above its 12-month average of 16.59%.
Reported quarterly operating margin; no daily interpolation.
OPERATING MARGIN
17.82%
OPERATING MARGIN AVG TTM
16.59%
OPERATING MARGIN AVG 3Y
16.03%
OPERATING MARGIN AVG 5Y
10.10%
OPERATING MARGIN AVG 10Y
11.07%
OPERATING MARGIN AVG 15Y
10.31%
OPERATING MARGIN AVG 20Y
10.44%
CURRENT VS TTM AVG
+7.42%
CURRENT VS 3Y AVG
+11.19%
CURRENT VS 5Y AVG
+76.50%
CURRENT VS 10Y AVG
+61.00%
CURRENT VS 15Y AVG
+72.93%
CURRENT VS 20Y AVG
+70.65%
SECTOR MEDIAN · FINANCIAL SERVICES
22.96%
median of 95 covered companies
CURRENT VS SECTOR MEDIAN
-22.38%
vs the sector median at left
The Progressive Corporation
Market Cap
$122.92B
Operating Margin
17.82%
TTM Avg
16.59%
3Y Avg
16.03%
5Y Avg
10.10%
Market Cap
$121.44B
Operating Margin
43.88%
TTM Avg
40.76%
3Y Avg
39.48%
5Y Avg
42.90%
Market Cap
$128.22B
Operating Margin
3.29%
TTM Avg
7.13%
3Y Avg
12.64%
5Y Avg
18.34%
Market Cap
$107.30B
Operating Margin
22.17%
TTM Avg
16.12%
3Y Avg
15.62%
5Y Avg
19.79%
Market Cap
$99.70B
Operating Margin
30.73%
TTM Avg
24.28%
3Y Avg
25.36%
5Y Avg
25.95%
Market Cap
$97.40B
Operating Margin
22.17%
TTM Avg
16.12%
3Y Avg
15.62%
5Y Avg
19.79%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| The Progressive Corporation (PGR) | $122.92B | 17.82% | 16.59% | 16.03% | 10.10% |
| S&P Global Inc. (SPGI)vs › | $121.44B | 43.88% | 40.76% | 39.48% | 42.90% |
| Capital One Financial Corporation (COF)vs › | $128.22B | 3.29% | 7.13% | 12.64% | 18.34% |
| Chubb Limited (CB)vs › | $135.29B | 18.19% | 21.11% | 19.08% | 18.64% |
| Bank of New York Mellon Corp (BNY)vs › | $107.30B | 22.17% | 16.12% | 15.62% | 19.79% |
| The PNC Financial Services Group, Inc. (PNC)vs › | $99.70B | 30.73% | 24.28% | 25.36% | 25.95% |
| U.S. Bancorp (USB)vs › | $98.15B | 23.95% | 20.36% | 21.07% | 25.19% |
| The Bank of New York Mellon Corporation (BK)vs › | $97.40B | 22.17% | 16.12% | 15.62% | 19.79% |
| CME Group Inc. (CME)vs › | $96.29B | 65.10% | 64.50% | 62.66% | 60.18% |
| Brookfield Corporation (BN)vs › | $94.99B | 28.32% | 24.76% | 19.95% | 18.38% |
Gross Margin
26.9%
Operating Margin
17.8%
Operating Margin = Operating Income / Revenue
Operating margin is the percentage of revenue remaining after operating expenses, reflecting operating efficiency.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | OPERATING MARGIN |
|---|---|
| 2026-05-31 | 17.82% |
| 2026-03-31 | 16.08% |
| 2025-12-31 | 16.19% |
| 2025-09-30 | 14.76% |
| 2025-06-30 | 18.10% |
| 2025-03-31 | 15.86% |
| 2024-12-31 | 14.64% |
| 2024-09-30 | 14.94% |
| 2024-06-30 | 10.26% |
| 2024-03-31 | 17.06% |
| 2023-12-31 | 14.83% |
| 2023-09-30 | 9.07% |
| 2023-06-30 | 2.84% |
| 2023-03-31 | 3.88% |
| 2022-12-31 | 7.62% |
| 2022-09-30 | 1.12% |
| 2022-06-30 | -5.52% |
| 2022-03-31 | 3.30% |
| 2021-12-31 | 9.64% |
| 2021-09-30 | 1.17% |
| 2021-06-30 | 8.40% |
| 2021-03-31 | 16.33% |
| 2020-12-31 | 18.46% |
| 2020-09-30 | 17.58% |
| 2020-06-30 | 20.69% |
| 2020-03-31 | 9.39% |
| 2019-12-31 | 12.47% |
| 2019-09-30 | 10.61% |
| 2019-06-30 | 13.17% |
| 2019-03-31 | 16.87% |
| 2018-12-31 | 3.02% |
| 2018-09-30 | 13.32% |
| 2018-06-30 | 10.99% |
| 2018-03-31 | 12.27% |
| 2017-12-31 | 9.72% |
| 2017-09-30 | 3.70% |
| 2017-06-30 | 8.40% |
| 2017-03-31 | 10.16% |
| 2016-12-31 | 8.78% |
| 2016-09-30 | 4.36% |
| 2016-06-30 | 4.94% |
| 2016-03-31 | 6.98% |
| 2015-12-31 | 9.53% |
| 2015-09-30 | 8.14% |
| 2015-06-30 | 9.95% |
| 2015-03-31 | 9.06% |
| 2014-12-31 | 10.57% |
| 2014-09-30 | 9.27% |
| 2014-06-30 | 9.24% |
| 2014-03-31 | 10.24% |
| 2013-12-31 | 9.22% |
| 2013-09-30 | 7.63% |
| 2013-06-30 | 10.60% |
| 2013-03-31 | 10.45% |
| 2012-12-31 | 7.77% |
| 2012-09-30 | 9.33% |
| 2012-06-30 | 4.01% |
| 2012-03-31 | 9.32% |
| 2011-12-31 | 9.55% |
| 2011-09-30 | 5.47% |
| 2011-06-30 | 9.24% |
| 2011-03-31 | 14.01% |
| 2010-12-31 | 11.07% |
| 2010-09-30 | 10.29% |
| 2010-06-30 | 8.49% |
| 2010-03-31 | 11.97% |
| 2009-12-31 | 11.65% |
| 2009-09-30 | 10.31% |
| 2009-06-30 | 9.88% |
| 2009-03-31 | 10.86% |
| 2008-12-31 | 6.24% |
| 2008-09-30 | -48.91% |
| 2008-06-30 | 8.55% |
| 2008-03-31 | 9.40% |
| 2007-12-31 | 9.15% |
| 2007-09-30 | 11.39% |
| 2007-06-30 | 11.07% |
| 2007-03-31 | 14.45% |
| 2006-12-31 | 15.99% |
| 2006-09-30 | 16.20% |
| 2006-06-30 | 15.96% |
| 2006-03-31 | 17.69% |
| 2005-12-31 | 11.38% |
| 2005-09-30 | 12.36% |
| 2005-06-30 | 16.34% |
| 2005-03-31 | 17.60% |
| 2004-12-31 | 16.71% |
| 2004-09-30 | 16.85% |
| 2004-06-30 | 17.08% |
| 2004-03-31 | 20.69% |
| 2003-12-31 | 16.61% |
| 2003-09-30 | 15.42% |
| 2003-06-30 | 14.54% |
| 2003-03-31 | 15.93% |
| 2002-12-31 | 8.61% |
| 2002-09-30 | 10.90% |
