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Employers Holdings Inc

EIG Financial Insurance Specialty

Employers Holdings Inc’s revenue for fiscal 2025 (year ended December 2025) was $858.7 million, down 2.50% from fiscal 2024.

Revenue
−20.9%
EPS
+280.6%
Free cash flow
−142.4%

Quarter to September 2026, against a year earlier

47.06 0.07 −0.15%
Market cap
$826.5M
P/E
27.7×
Fwd P/E
13.0×
Dividend yield
2.79%
F-score
5/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.08
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — 1 — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 4.75%

Capital & Financial Ratios $m

Size
Market Cap 826.54
Revenue ttm 787.60
Net income ttm 27.40
Free cash flow ttm (21.30)
Net debt Q 49.10
Valuation
P/E 27.67
Forward P/E 13.00
Price / sales 1.08
Forward P/S Powerpack
Price / FCF 0.00
Price / book 1.08
Financial health
Current ratio Q 0.35
Debt / equity Q 0.16
Interest coverage Q 12.15
Growth
Revenue growth Q −20.89% (below 0%: shrinking)
Operating income growth Q +243.56% (above 0%: growing)
EPS, this year +152.70% (at or above 15%: strong)
EPS, next year A +3.15%
Revenue, next year A −6.15% (below 0%: weak)
EPS, past 5 yrs −35.02% (below 0%: weak)
EPS, next 5 yrs A +41.35% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 92.26%
10-year low 10-year high
P/S against its own 10 years 6.20%
10-year low 10-year high
P/B against its own 10 years 40.01%
10-year low 10-year high

Dividends raised 5 years running

Yield
2.79%
Annual rate
1.32
Payout ratio
78.1%
Growth, 2018–26
+6.66%/yr
  1. 0.80 ’18
  2. 0.88 ’19 +10
  3. 1.00 ’20 +14
  4. 1.00 ’21 +0
  5. 1.03 ’22 +3
  6. 1.10 ’23 +7
  7. 1.18 ’24 +7
  8. 1.26 ’25 +7
  9. 1.34 ’26 +6
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 227 69 160 76
Receivables 793 779 727 698
Inventory — — — —
Other — — — —
1,020 848 887 774
2023 2024 2025 Q'26
Payables 2,290 2,232 2,221 2,130
ST’ Debt — — 16 —
Other 66 66 60 54
2,356 2,297 2,297 2,184

Compound Annual Growth %

10y 5y 3y
Sales 1.33% 3.84% 6.37%
Cash Flow (9.13%) 6.26% (23.49%)
Earnings (19.49%) (38.20%) (39.35%)
Book Value 2.31% (4.65%) 0.40%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.61 Actual 0.71

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.41 0.66 Beat by 0.25
Q1 FY26 0.57 0.53 Miss by 0.04
Q2 FY26 0.61 0.70 Beat by 0.09
Q3 FY26 0.61 0.71 Beat by 0.10
Q4 FY26 0.57 — Reports 18 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.52 1.59 0.64 — —
’25 0.52 1.23 (0.36) (1.06) 0.46
’24 1.11 1.25 1.21 1.14 4.71
’23 0.86 1.30 0.54 1.77 4.45
’22 (0.08) (0.56) 0.70 1.72 1.75
’21 0.80 0.92 0.53 1.94 4.17
’20 (1.14) 1.97 1.05 2.19 3.97
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 208 220 189 — —
’25 203 246 239 171 859
’24 223 217 224 217 881
’23 207 215 204 226 851
’22 152 135 204 222 714
’21 164 171 168 200 703
’20 127 211 182 191 711
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 2 (10) (11) — —
’25 15 0 29 1 45
’24 1 12 51 13 76
’23 4 (8) 25 28 49
’22 17 21 30 32 100
’21 (11) (14) 15 20 11
’20 16 13 20 (15) 33
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 1 (11) (12) — —
’25 14 (1) 29 1 43
’24 (1) 11 50 11 72
’23 4 (8) 24 27 47
’22 16 20 29 32 97
’21 (12) (14) 15 19 7
’20 14 11 19 (16) 28
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 780 801 800 836 711 703 714 851 881 859 788 +1.1% 806 733 760 (4.0%)
Gross margin, % 18.25 19.08 21.36 23.26 20.93 21.56 8.31 19.41 16.67 1.58 4.60 (16.7) pt
EBT 141 144 170 194 148 147 56 148 147 12 32 (23.9%)
EBT margin, % 18.04 17.97 21.18 23.18 20.76 20.91 7.82 17.44 16.66 1.40 4.10 (16.6) pt
Net income 107 101 141 157 120 119 48 118 119 11 27 (22.5%)
Per share, $
Per share, $ Revenue 24.04 24.66 24.34 26.02 23.78 24.85 25.94 32.27 35.16 36.72 44.00 +4.8%
Earnings 3.29 3.11 4.30 4.89 4.01 4.22 1.76 4.48 4.73 0.46 1.71 (19.6%)
Cash flow 3.79 4.38 5.48 3.81 1.10 0.38 3.63 1.87 3.05 1.91 (1.05) (7.3%)
Capex (0.15) (0.25) (0.31) (0.38) (0.18) (0.13) (0.09) (0.08) (0.20) (0.09) (0.14) (5.3%)
Free cash flow 3.63 4.13 5.17 3.44 0.92 0.25 3.53 1.79 2.85 1.82 (1.19) (7.4%)
Book value 25.92 29.16 30.96 36.29 40.55 42.88 34.33 38.45 42.66 40.87 43.89 +5.2%
Shares, m 32 33 33 32 30 28 28 26 25 23 20 (3.6%)
Valuation, ×
Valuation, × P/E 12.37 13.96 9.76 8.52 7.83 9.78 24.08 8.83 10.83 126.97 27.67 23.3
P/S 1.67 1.76 1.72 1.60 1.35 1.66 1.66 1.23 1.46 1.18 1.08 1.5
P/B 1.55 1.49 1.36 1.15 0.79 0.97 1.26 1.03 1.20 1.06 1.08 1.2
EV/Sales 1.62 1.69 1.62 1.46 1.18 1.61 1.84 1.04 1.45 1.03 — 1.5
EV/FCF 10.74 10.11 7.64 11.09 30.48 156.85 13.47 18.77 17.90 20.81 — 29.8
Cash, $m
Cash, $m Operating cash flow 123 142 180 123 33 11 100 49 76 45 (19) (10.6%)
Capex (5) (8) (10) (12) (5) (4) (3) (2) (5) (2) (2) (8.7%)
Free cash flow 118 134 170 110 28 7 97 47 72 43 (21) (10.7%)
Balance, $m
Balance, $m Working capital (1,752) (1,738) (1,712) (1,628) (1,537) (1,548) (1,540) (1,336) (1,450) (1,410) (1,409) (2.4%)
Net debt (9) (35) (63) (142) (145) (61) 104 (227) (68) (125) 49 +34.3%
Shareholders’ equity 841 948 1,018 1,166 1,213 1,213 944 1,014 1,069 956 786 +1.4%
Returns, %
Returns, % ROA 2.83 2.66 3.64 3.97 3.02 3.10 1.29 3.25 3.34 0.31 0.81 (2.5) pt
ROIC 10.57 10.38 11.09 11.83 8.69 8.20 3.33 12.65 9.17 0.99 2.42 (9.6) pt
ROE 13.33 11.32 14.38 14.39 10.07 9.84 4.49 12.06 11.39 1.07 3.01 (12.3) pt
People
People Employees 693 672 704 704 691 608 676 717 715 623 — (1.2%)
Revenue/emp, $m 1.13 1.19 1.14 1.19 1.03 1.16 1.06 1.19 1.23 1.38 — +2.3%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Employers Holdings Inc vs peers in Insurance Specialty (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
RDN Radian Group Inc. $4.9B 9.5× 8.8× +92.58% (above 0%: growing) −17.48% (below 0%: shrinking) +147.96% (above 0%: growing) 50.35% 30.09% Compare
NMIH NMI Holdings Inc $3.3B 8.5× 8.0× +8.12% (above 0%: growing) +13.82% (above 0%: growing) +10.69% (above 0%: growing) 93.00% 76.67% Compare
AGO Assured Guaranty Ltd. $3.2B 9.6× 11.1× −30.60% (below 0%: shrinking) −57.89% (below 0%: shrinking) −48.72% (below 0%: shrinking) 97.95% 42.05% Compare
EIG Employers Holdings Inc $826.5M 27.7× 13.0× −20.89% (below 0%: shrinking) n/m −142.36% (below 0%: shrinking) 8.35% 8.35%
ITIC Investors Title Company $493.3M 12.2× 5.6× +17.45% (above 0%: growing) +19.05% (above 0%: growing) −18.47% (below 0%: shrinking) 55.58% 22.48% Compare
AMSF AMERISAFE, Inc. $376.8M 9.4× 9.6× −2.64% (below 0%: shrinking) −46.58% (below 0%: shrinking) −71.31% (below 0%: shrinking) 23.88% 11.27% Compare
OSG Octave Specialty Group, Inc. $231.6M — (loss-making) — (loss-making) +51.02% (above 0%: growing) n/m −576.08% (below 0%: shrinking) 76.26% (0.47%) Compare
MBI MBIA, Inc. $227.5M — (loss-making) — (loss-making) +73.33% (above 0%: growing) n/m −181.11% (below 0%: shrinking) 0.00% 0.00% Compare
JRVR James River Group Holdings, Ltd. $185.0M 7.8× 5.5× −7.72% (below 0%: shrinking) +66.67% (above 0%: growing) −124.07% (below 0%: shrinking) 38.58% 9.26% Compare
Median of peers $435.1M 9.4× 8.4× +12.79% −1.83% −60.01% 52.97% 16.88%

All 15 Insurance Specialty stocks →

Pay and ownership Proxy statement filed 16 April 2026

Ownership

Directors and executive officers, together 1.30%
BlackRock Inc., 19.80%
The Vanguard Group, Inc., 16.90%
Dimensional Fund Advisors LP, Building One, 11.20%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Employers Holdings Inc (EIG) Latest News

30 Oct

Impact 3 · · Simply Wall St.
Impact 3 · · MarketBeat

29 Oct

Impact 3 · · The Motley Fool transcript
Impact 3 · · Moby

28 Oct

Impact 4 · · GlobeNewswire
Impact 3 · · Zacks
Impact 3 · · Associated Press
Impact 3 · · StockStory

27 Oct

Impact 3 · · StockStory

2 Oct

Impact 3 · · StockStory

22 Sep

Impact 3 · · StockStory

7 Aug

Impact 3 · · The Motley Fool transcript

31 Jul

Impact 4 ·
Impact 3 · · MarketBeat

30 Jul

Impact 3 · · Moby transcript

29 Jul

Impact 3 ·
Impact 3 ·
Impact 3 ·

28 Jul

Impact 4 ·

2 May

Impact 4 · · StockStory

1 May

Impact 3 · · MarketBeat

30 Apr

Impact 4 · · Moby

29 Apr

Impact 4 · · GlobeNewswire
Impact 3 · · Zacks
Impact 3 · · StockStory

28 Apr

Impact 3 · · StockStory

21 Apr

Impact 4 ·

22 Feb

Impact 4 · · MarketBeat

20 Feb

Impact 4 · · GuruFocus.com
Impact 3 · · Moby
stockrow.com/EIG · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com