Erie Indemnity (ERIE)
Financials · $10.5B market cap · SEC CIK 0000922621
fundamentals score out of 100
Next reports on Oct 28, 2026, with analysts expecting $3.45 in earnings per share.
The case for ERIE
- Return on equity of 25%.
- Moves less than the market (beta 0.25).
- Pays a modest 1.6% dividend.
The case against
- Down 25.8% over the past year.
- Earnings per share fell 6.5%.
- Profitability is weak (41/100): return on equity 25%, net margin 14.0%, gross margin 18%.
- Revenue growth of +3.7% is slower than 86% of Financials companies.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Financials companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 49 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 35 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 41 |
| Momentumhow the price has behaved lately | 36 |
| Stabilityhow violently it moves, what it owes and what it pays you | 69 |
- Its debt and cash flow are not scored, as for every company in the Financials sector: for banks, insurers and brokers, borrowing is the business.
- Each factor except momentum is half fixed thresholds, half rank among the 74 Financials companies.
Key numbers
| Price / earnings | 18.3× |
|---|---|
| Price / book | 5.08× |
| Price / sales | 2.6× |
| Revenue growth (YoY) | +3.7% |
| EPS growth (YoY) | -6.5% |
| Gross margin | 18% |
| Operating margin | 18% |
| Net margin | 14% |
| Return on equity | 25% |
| Debt / equity | 0.00× |
| Current ratio | 1.25 |
| Dividend yield | 1.63% |
| Beta | 0.25 |
| 52-week range | $204.63 – $330.54 |
| Position in that range | 24% of the way up |
| 3-month return | +6.7% |
| 1-year return | -25.8% |
Five years of financials, as filed
Pulled from Erie Indemnity's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $4.1B | $3.8B | $3.3B | $2.8B | $2.6B |
| Operating income | $717M | $676M | $520M | $376M | $318M |
| Net income | $559M | $600M | $446M | $299M | $298M |
| Operating cash flow | $687M | $611M | $381M | $366M | $403M |
| Capital expenditure | $116M | $125M | $92.6M | $67.2M | $149M |
| Total assets | $3.4B | $2.9B | $2.5B | $2.2B | $2.2B |
| Total liabilities | $1.1B | $901M | $809M | $791M | $900M |
| Shareholder equity | $2.3B | $2.0B | $1.7B | $1.4B | $1.3B |
| Cash | $346M | $298M | $144M | $142M | $184M |
| Long-term debt | — | — | — | $0 | $91.7M |
| Free cash flow | $571M | $486M | $289M | $299M | $254M |
| Operating margin | 17.6% | 17.8% | 15.9% | 13.2% | 12.1% |
| Net margin | 13.8% | 15.8% | 13.6% | 10.5% | 11.3% |
What Erie Indemnity says it does
Erie Indemnity Company ("Indemnity", "we", "us", "our") is a publicly held Pennsylvania business corporation that has since its incorporation in 1925 served as the attorney-in-fact for the subscribers (policyholders) at the Erie Insurance Exchange ("Exchange"). The Exchange, which also commenced business in 1925, is a Pennsylvania-domiciled reciprocal insurer that writes property and casualty insurance. The Exchange has wholly owned property and casualty insurance subsidiaries including: Erie Insurance Company, Erie Insurance Company of New York, Erie Insurance Property & Casualty Company and Flagship City Insurance Company, and a wholly owned life insurance company, Erie Family Life Insurance Company ("EFL"). Our primary function as attorney-in-fact is to perform policy issuance and renewal services on behalf of the subscribers at the Exchange. We also act as attorney-in-fact on behalf of the subscribers at the Exchange with respect…
Risk factors ERIE lists in its 10-K
- Risks related to Erie Insurance Exchange
- Market, Capital, and Liquidity risks
- If the costs of providing services to the Exchange are not controlled, our profitability could be materially adversely affected
- If we are unable to attract, develop, retain, and protect talented executives, key managers, and employees our financial condition and results of operations could be adversely affected
- If we are unable to effectively maintain system availability or manage technology initiatives, we may experience adverse financial consequences and/or may be unable to compete effectively
- If events occurred causing interruption of our operations, facilities, systems or business functions, it could have a material adverse effect on our operations and financial results
- The performance of our investment portfolio is subject to a variety of investment risks, which may in turn have a material adverse effect on our results of operations or financial condition
- Deteriorating capital and credit market conditions or a failure to accurately estimate capital needs may significantly affect our ability to meet liquidity needs and access capital