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STOCK COMPARISON

Progressive vs Travelers Companies: Fair Value & Quality

Both stocks run through our valuation models. Here is how Progressive (PGR) and Travelers Companies (TRV) compare, as of Sep 5, 2026.

As of Sep 5, 2026, Fair Value Calculator sees Travelers Companies as the less overvalued of the two: Progressive trades at $224 versus a fair value of $160 (-28%), while Travelers Companies trades at $374 versus $274 (-27%).
Progressive
PGR · USD · Financials
-28%
upside to fair value
overvalued
Price$224
Fair Value$160
Quality65/100
Travelers Companies
TRV · USD · Financials
-27%
upside to fair value
overvalued
Price$374
Fair Value$274
Quality59/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

ProgressiveTravelers Companies
Valuation
11.7×P/E (TTM)9.8×
1.50×P/S (TTM)1.47×
4.43×P/B2.18×
9.3×EV/EBITDA7.6×
35.19×PEG2.36×
−28.4%Fair value upside−26.7%
0.2%Dividend yield1.2%
$0.40Dividend per share$4.40
Profitability
16%Operating margin19%
0.96×EBIT margin trend (5Y)1.58×
38%Return on equity25%
8%Return on assets4%
Growth
9%Revenue growth (YoY)1%
20.9%Avg. growth/yr (3Y)9.8%
15.5%Avg. growth/yr (5Y)8.8%
+23.4%Value creation/yr+22.3%
Balance & size
51.2×Interest coverage (EBIT/interest)18.3×
0.23×Debt / equity0.28×
$134BMarket cap$72B
mixedGrowth qualityexpensive

Travelers Companies leads: 7 to 9 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Progressiveof which business quality 64 · market factors 59 Travelers Companiesof which business quality 57 · market factors 84
ProfitabilityMargins and returns on capital today
61
42
Quality GrowthAre margins and returns improving?
64
62
CashflowEarnings quality: real cash, not paper profit
81
61
Fin. StrengthBalance sheet, leverage, solvency risk
54
53
InvestmentDisciplined investing over empire-building
37
29
Low VolatilityCalm price path (market factor)
87
94
MomentumPrice trend over the last 3–12 months (market factor)
46
76
52W MomentumDistance to the 52-week high (market factor)
50
88
Net IssuanceBuybacks instead of dilution
81
98

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyProgressivePrice $224Travelers CompaniesPrice $374
Multiples-27%below the price$163-20%below the price$300
Asset-Based-84%below the price$34.90-72%below the price$104
Economic Profit-6%close to the price$211-32%below the price$255
Minimum-84%below the price$34.90-72%below the price$104
Maximum-6%close to the price$211-20%below the price$300
Median-27%below the price$163-32%below the price$255
Geometric mean-53%below the price$106-47%below the price$199

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Progressive: 3 of 4 models see the stock below the current price.

Travelers Companies: 3 of 4 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Progressive
Bear $120Fair Value $160Bull $200
$224 = current price (white tick)
Travelers Companies
Bear $206Fair Value $274Bull $343
$374 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Progressive · Financials

Quality score65 · Top 25%
Fair value upside-28% · below median

Travelers Companies · Financials

Quality score59 · above median
Fair value upside-27% · below median

Bottom line

As of Sep 5, 2026, Fair Value Calculator sees Travelers Companies as the less overvalued of the two: Progressive trades at $224 versus a fair value of $160 (-28%), while Travelers Companies trades at $374 versus $274 (-27%).

Progressive has the higher quality score (65/100).

See the full analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.