Erie Indemnity Company

ERIE Financial Insurance Brokers

Erie Indemnity Company’s revenue for fiscal 2025 (year ended December 2025) was $4.1 billion, up 7.17% from fiscal 2024. In the quarter to June 2026, revenue grew 2.80%, EPS grew 3.20% and free cash flow grew 10.2%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for five consecutive years, revenue growth for ten, operating cash flow growth for three; insiders bought in the last twelve months.

243.71 5.02 +2.10%
Market cap
$11.1B
P/E
19.7×
Fwd P/E
18.0×
Dividend yield
2.40%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Dec '16 Dec '17 Dec '18 Dec '19 Dec '20 Dec '21 Dec '22 Dec '23 Dec '24 Dec '25
P/E ratio
24.76 28.14 21.54 24.41 38.98 30.10 38.14 35.01 32.01 23.87
Piotroski F-Score
5 5 4 4 5 5 7 8 9 6
P/S ratio
3.24 3.26 2.58 3.10 4.47 3.38 3.98 4.73 5.02 3.26
P/FCF ratio
23.47 32.77 28.87 29.13 39.52 35.04 37.74 53.63 39.15 23.19
P/Operating CF
52.34 71.78 68.98 60.54 104.93 64.14 88.18 104.25 98.43 77.18
P/B ratio
6.33 6.43 6.32 6.77 9.55 6.63 7.80 9.31 9.58 5.80
Price to Tangible BV
6.33 6.43 6.32 6.77 9.55 6.63 7.80 9.31 9.58 5.80
EV/Sales
3.14 3.17 2.51 3.00 4.45 3.34 3.97 4.73 4.97 3.20
EV/EBITDA
17.05 18.50 17.40 20.79 33.35 27.69 29.98 29.72 27.90 18.16
EV/Operating CF
19.68 27.25 22.73 20.38 32.92 21.87 30.81 40.56 30.88 18.97
EV/FCF
22.73 31.93 28.09 28.22 39.29 34.68 37.70 53.58 38.80 22.81
Quick Ratio
2.00 2.07 2.04 2.02 1.58 1.61 1.43 1.45 1.68 1.73
Current Ratio
2.00 2.07 2.04 2.02 1.58 1.61 1.43 1.45 1.68 1.73
Net Debt/EBITDA
(0.52) (0.45) (0.47) (0.62) (0.18) (0.24) (0.33) (0.25) (0.40) (0.44)
Debt/Assets
1.60% 4.49% 5.61% 4.85% 4.53% 4.19% 0.00% 0.00% 0.00% 0.00%
Debt/Equity
0.03 0.09 0.10 0.09 0.08 0.07 0.00 0.00 0.00 0.00
Asset Turnover
1.08 1.05 1.38 1.31 1.23 1.21 1.27 1.39 1.42 1.30
Operating CF/Net income
1.21 1.00 0.91 1.15 1.17 1.35 1.23 0.85 1.02 1.23
Capex/Depreciation
(1.12) (1.32) (3.76) (3.29) (1.62) (3.03) (1.29) (1.73) (1.95) (1.51)
Interest Coverage
2,906.11 234.45 139.98 417.45 462.60 76.98 187.26 — — —
ROE
26.52% 23.53% 31.48% 30.07% 25.27% 23.54% 21.40% 28.67% 32.89% 26.19%
ROA
14.23% 12.26% 16.74% 16.70% 14.19% 13.67% 13.32% 18.94% 22.40% 17.92%
ROIC
28.11% 25.32% 26.67% 24.97% 18.83% 15.87% 18.00% 21.41% 25.03% 23.13%
Return on Tangible Assets
57.12% 44.83% 57.58% 50.50% 57.95% 47.55% 48.55% 65.34% 65.21% 54.47%
Average Days of Receivables
93.45 102.10 70.18 69.12 71.18 66.39 67.46 69.82 68.00 66.01
Research and Development Expense of Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Selling, General and Administrative Expense of Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Intangible Assets out of Total Assets
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Share Based Compensation of Revenue
(0.29%) (0.16%) (0.16%) (0.06%) 0.30% (0.19%) (0.05%) 0.19% 0.07% (0.08%)
Graham Net Nets
(0.03) (0.02) (0.01) (0.01) (0.02) (0.03) (0.01) 0.00 0.01 0.00
Graham Number
42.41 42.08 54.18 61.27 60.38 64.69 67.25 88.04 111.66 115.58
Earnings Yield
4.04% 3.55% 4.64% 4.10% 2.57% 3.32% 2.62% 2.86% 3.12% 4.19%
Free Cash Flow Yield
4.26% 3.05% 3.46% 3.43% 2.53% 2.85% 2.65% 1.86% 2.55% 4.31%
Revenue per Share
34.57 36.63 51.57 53.63 54.91 57.02 61.49 70.77 82.16 88.05
Operating CF per Share
5.51 4.27 5.71 7.89 7.42 8.72 7.93 8.25 13.23 14.87
Capex per Share
(0.55) (0.63) (1.09) (2.19) (1.20) (3.22) (1.45) (2.01) (2.70) (2.50)
Free Cash Flow per Share
4.96 3.64 4.62 5.70 6.22 5.50 6.48 6.25 10.53 12.36
Cash per Share
4.09 4.67 5.77 7.29 3.49 3.98 3.08 3.12 6.46 7.49
Shareholders Equity per Share
17.69 18.56 21.08 24.53 25.72 29.06 31.36 36.00 43.02 49.43
Interest Debt per Share
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Book value per Share
17.69 18.56 21.08 24.53 25.72 29.06 31.36 36.00 43.02 49.43
Free Cash Flow
229.13 168.20 213.30 263.27 287.08 253.99 299.21 288.56 486.40 570.97
Working Capital
299.16 356.29 369.72 405.94 240.80 251.66 201.08 240.06 407.12 455.44
Capital Expenditures
(25.21) (28.93) (50.28) (101.26) (55.51) (148.80) (66.94) (92.65) (124.84) (115.69)
Net Current Asset Value
(134.17) (119.57) (80.20) (77.15) (273.20) (236.75) (124.02) (39.74) 104.10 9.36
EV/EBIT
17.05 18.50 17.40 20.79 33.35 27.69 29.98 29.72 27.90 18.16
Capex to Sales
0.02 0.02 0.02 0.04 0.02 0.06 0.02 0.03 0.03 0.03
Price to Operating Income
17.61 18.99 17.88 21.46 33.55 27.98 30.01 29.74 28.15 18.46
Other line items
Depreciation/Fixed assets
0.33 0.26 0.10 0.14 0.13 0.13 0.13 0.12 0.12 0.13
Cash ROIC
22.23% 14.65% 15.92% 16.79% 19.87% 15.68% 18.81% 15.97% 21.28% 21.72%
Accounts Receivable Turnover
4.02 3.84 5.12 5.34 5.26 5.41 5.66 5.68 5.70 5.64
Accounts Payable Turnover
4.47 4.44 5.95 5.65 5.42 5.63 5.63 5.52 5.53 5.47
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Average Days of Payables
83.67 86.63 63.20 68.51 68.58 64.47 69.02 70.29 70.03 68.21
Days of Inventory on Hand
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Average Receivables
396.90 441.01 465.63 463.57 481.87 486.88 502.03 575.14 666.20 721.32
Average Payables
291.39 315.68 342.76 375.39 405.48 411.05 437.50 497.64 563.83 612.18
Average Assets
1,478.13 1,607.41 1,722.09 1,897.28 2,066.68 2,179.59 2,240.76 2,355.71 2,680.29 3,122.05
Average Common Equity
793.21 837.13 915.51 1,053.46 1,160.65 1,265.26 1,395.44 1,555.62 1,825.05 2,135.32

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