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STOCK COMPARISON

Definity Financial vs Progressive: Fair Value & Quality

Both stocks run through our valuation models. Here is how Definity Financial (DFY) and Progressive (PGR) compare, as of Sep 5, 2026.

As of Sep 5, 2026, Fair Value Calculator sees Progressive as the less overvalued of the two: Definity Financial trades at C$73.65 versus a fair value of C$37.10 (-50%), while Progressive trades at $224 versus $160 (-28%).
Definity Financial
DFY.TO · CAD · Financials
-50%
upside to fair value
overvalued
PriceC$73.65
Fair ValueC$37.10
Quality52/100
Progressive
PGR · USD · Financials
-28%
upside to fair value
overvalued
Price$224
Fair Value$160
Quality65/100
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Head-to-head numbers

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

Definity FinancialProgressive
Valuation
24.5×P/E (TTM)11.7×
1.29×P/S (TTM)1.50×
1.70×P/B4.43×
10.3×EV/EBITDA9.3×
PEG35.19×
−49.6%Fair value upside−28.4%
1.1%Dividend yield0.2%
C$0.78Dividend per share$0.40
Profitability
8%Operating margin16%
1.61×EBIT margin trend (5Y)0.96×
10%Return on equity38%
4%Return on assets8%
Growth
57%Revenue growth (YoY)9%
17.6%Avg. growth/yr (3Y)20.9%
12.6%Avg. growth/yr (5Y)15.5%
+22.4%Value creation/yr+23.4%
Balance & size
25.2×Interest coverage (EBIT/interest)51.2×
0.28×Debt / equity0.23×
$7BMarket cap$134B
healthyGrowth qualitymixed

Progressive leads: 5 to 10 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.

Definity Financialof which business quality 52 · market factors 64 Progressiveof which business quality 64 · market factors 59
ProfitabilityMargins and returns on capital today
35
61
Quality GrowthAre margins and returns improving?
37
64
CashflowEarnings quality: real cash, not paper profit
53
81
Fin. StrengthBalance sheet, leverage, solvency risk
64
54
InvestmentDisciplined investing over empire-building
59
37
Low VolatilityCalm price path (market factor)
92
87
MomentumPrice trend over the last 3–12 months (market factor)
53
46
52W MomentumDistance to the 52-week high (market factor)
51
50
Net IssuanceBuybacks instead of dilution
67
81

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 familyDefinity FinancialPrice C$73.65ProgressivePrice $224
Dividend Discount-84%below the priceC$12.01n/a
Multiples-37%below the priceC$46.19-27%below the price$163
Asset-Based-69%below the priceC$22.57-84%below the price$34.90
Economic Profit-56%below the priceC$32.67-6%close to the price$211
Minimum-84%below the priceC$12.01-84%below the price$34.90
Maximum-37%below the priceC$46.19-6%close to the price$211
Median-62%below the priceC$27.62-27%below the price$163
Geometric mean-66%below the priceC$25.29-53%below the price$106

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%.

Definity Financial: 6 of 6 models see the stock below the current price.

Progressive: 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.

Definity Financial
Bear C$27.83Fair Value C$37.10Bull C$46.37
C$73.65 = current price (white tick)
Progressive
Bear $120Fair Value $160Bull $200
$224 = 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.

Definity Financial · Financials

Quality score52 · below median
Fair value upside-50% · bottom 25%

Progressive · Financials

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

Bottom line

As of Sep 5, 2026, Fair Value Calculator sees Progressive as the less overvalued of the two: Definity Financial trades at C$73.65 versus a fair value of C$37.10 (-50%), while Progressive trades at $224 versus $160 (-28%).

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.