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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
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total buys 1.43
Total sells 0.10
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — 1 — — — —
Sell — — — — — — 1 — — — — —
Insider Ownership 46.09%

Capital & Financial Ratios $m

Market Cap 11,120.00
Revenue 4,119.47
Net Income 559.34
Free Cash Flow 553.08
Net Debt (282.90)
Current Ratio 1.56
Debt/Equity 0.00
P/E ratio 19.67
Fwd P/E 18.00
P/S ratio 2.73
P/B ratio 4.56
Past 5Y EPS Growth 13.76%
This Y EPS Growth 18.80% (at or above 15%: strong)
Next Y EPS Growth 26.44% (at or above 15%: strong)
Next Y revenue growth 2.50%
Next 5Y EPS Growth 10.00%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 3.13%
10-year low 10-year high
P/S against its own 10 years 6.12%
10-year low 10-year high
P/B against its own 10 years 2.95%
10-year low 10-year high

Dividends

Payout Ratio 0.53
Annual Dividend Rate 5.85
Annual Dividend Yield 2.40%
total individual payouts
2026 5.85
1.46
1.46
1.46
1.46
2025 5.46
1.37
1.37
1.37
1.37
2024 5.10
1.28
1.28
1.28
1.28
2023 4.76
1.19
1.19
1.19
1.19
2022 4.44
1.11
1.11
1.11
1.11
2021 4.14
1.04
1.04
1.04
1.04
2020 3.86
0.97
0.97
0.97
0.97
2.00
2019 3.60
0.90
0.90
0.90
0.90
2018 4.19
0.84
0.84
0.84
0.84
0.83
2017 3.13
0.78
0.78
0.78
0.78
2016 2.19
0.73
0.73
0.73
special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 144 298 346 283
Receivables 625 707 736 753
Inventory — — — —
Other — — — —
769 1,005 1,081 1,036
2023 2024 2025 Q'26
Payables 529 598 626 663
ST’ Debt — — — —
Other — — — —
529 598 626 663

Compound Annual Growth %

10y 5y 3y
Sales 10.45% 9.90% 12.72%
Cash Flow 12.19% 14.92% 23.32%
Earnings 12.34% 13.78% 23.28%
Book Value 11.49% 13.96% 16.38%

Revenue $m

Mar Jun Sep Dec Year
’26 1,012 1,090 — — —
’25 989 1,060 1,067 951 4,067
’24 881 990 1,000 924 3,795
’23 752 840 859 818 3,269
’22 672 726 741 701 2,840
’21 630 680 688 636 2,634
’20 617 657 653 609 2,536
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 92 215 — — —
’25 118 178 219 172 687
’24 87 131 199 193 611
’23 48 132 53 148 381
’22 24 83 132 128 366
’21 33 94 136 139 403
’20 20 107 107 108 343
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 54 173 — — —
’25 88 157 184 141 571
’24 65 103 171 147 486
’23 29 106 26 128 289
’22 8 70 109 112 299
’21 22 77 126 28 254
’20 (1) 91 92 105 287
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 2.88 3.45 — — —
’25 2.65 3.34 3.50 1.21 10.69
’24 2.38 3.13 3.06 2.91 11.48
’23 1.65 2.25 2.51 2.12 8.53
’22 1.31 1.53 1.61 1.25 5.71
’21 1.41 1.51 1.72 1.05 5.69
’20 1.13 1.57 1.71 1.20 5.61
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 88.69 106.91 106.63 127.04 130.20 168.87 158.46 199.49 321.05 273.59

Analyst estimates 2026–2028

Powerpack
High 116.21 129.73 147.17 270.23 256.77 266.77 286.50 336.05 547.00 456.93
People
People Employees 5,000 5,300 5,500 5,700 5,914 5,876 6,038 6,556 6,801 6,667
Revenue/emp, $m 0.32 0.32 0.43 0.43 0.43 0.45 0.47 0.50 0.56 0.61
Income, $m
Income, $m Revenue 1,597 1,692 2,382 2,477 2,536 2,634 2,840 3,269 3,795 4,067
Gross margin, % 18.38 17.16 14.45 14.42 13.33 12.08 13.25 15.92 17.82 17.63
EBT 320 316 371 397 369 376 376 562 757 711
EBT margin, % 20.05 18.66 15.59 16.01 14.53 14.29 13.25 17.19 19.95 17.47
Net income 210 197 288 317 293 298 299 446 600 559
Depreciation 23 22 13 31 34 49 52 54 64 77
Per share, $
Per share, $ Revenue 34.57 36.63 51.57 53.63 54.91 57.02 61.49 70.77 82.16 88.05
Earnings 4.52 4.27 6.19 6.80 6.30 6.40 6.41 9.58 12.89 12.01
Cash flow 5.51 4.27 5.71 7.89 7.42 8.72 7.93 8.25 13.23 14.87
Capex (0.55) (0.63) (1.09) (2.19) (1.20) (3.22) (1.45) (2.01) (2.70) (2.50)
Free cash flow 4.96 3.64 4.62 5.70 6.22 5.50 6.48 6.25 10.53 12.36
Book value 17.69 18.56 21.08 24.53 25.72 29.06 31.36 36.00 43.02 49.43
Shares, m 46 46 46 46 46 46 46 46 46 46
Valuation, ×
Valuation, × P/E 24.76 28.14 21.54 24.41 38.98 30.10 38.14 35.01 32.01 23.87
P/S 3.24 3.26 2.58 3.10 4.47 3.38 3.98 4.73 5.02 3.26
P/B 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/FCF 22.73 31.93 28.09 28.22 39.29 34.68 37.70 53.58 38.80 22.81
Cash, $m
Cash, $m Operating cash flow 254 197 264 365 343 403 366 381 611 687
Capex (25) (29) (50) (101) (56) (149) (67) (93) (125) (116)
Free cash flow 229 168 213 263 287 254 299 289 486 571
Balance, $m
Balance, $m Working capital 299 356 370 406 241 252 201 240 407 455
Total debt 25 75 100 98 96 94 — — — —
Net debt (164) (141) (167) (239) (65) (90) (142) (144) (298) (346)
Shareholders’ equity 817 857 974 1,133 1,188 1,342 1,448 1,663 1,987 2,283
Returns, %
Returns, % 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
ROE 26.52 23.53 31.48 30.07 25.27 23.54 21.40 28.67 32.89 26.19
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Erie Indemnity Company vs peers in Insurance Brokers (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
AJG Arthur J. Gallagher & Co. $64.1B 41.6× 23.0× +24.24% (above 0%: growing) −11.89% (below 0%: shrinking) +91.16% (above 0%: growing) 41.79% 14.54% Compare
AON Aon plc $60.8B 16.0× 21.1× +2.19% (above 0%: growing) −3.73% (below 0%: shrinking) −34.02% (below 0%: shrinking) 46.51% 21.55% Compare
WTW Willis Towers Watson Public Limited Company $28.8B 19.3× 15.3× +9.07% (above 0%: growing) −27.25% (below 0%: shrinking) +42.76% (above 0%: growing) 100.00% 14.76% Compare
BRO Brown & Brown, Inc. $22.8B 19.3× 17.6× +30.43% (above 0%: growing) +8.86% (above 0%: growing) +6.75% (above 0%: growing) 50.00% 28.82% Compare
ERIE Erie Indemnity Company $11.1B 19.7× 18.0× +2.80% (above 0%: growing) +3.20% (above 0%: growing) +10.22% (above 0%: growing) 18.73% 18.73%
BWIN Baldwin Insurance Group, Inc. $4.5B — (loss-making) — (loss-making) +30.13% (above 0%: growing) n/m +208.10% (above 0%: growing) 31.81% (1.69%) Compare
ARX Accelerant Holdings $4.3B — (loss-making) 143× +62.89% (above 0%: growing) +620.00% (above 0%: growing) −139.56% (below 0%: shrinking) 100.00% 30.96% Compare
CRVL CorVel Corp. $4.1B 35.4× — +10.74% (above 0%: growing) +18.87% (above 0%: growing) +8.94% (above 0%: growing) 26.08% 16.67% Compare
NP Neptune Insurance Holdings Inc. $4.0B 117× 68.6× +32.82% (above 0%: growing) −11.65% (below 0%: shrinking) +234.05% (above 0%: growing) 100.00% 47.52% Compare
Median of peers $13.6B 27.4× 22.1× +27.19% −3.73% +25.85% 48.26% 19.11%

All 22 Insurance Brokers stocks →

ERIE metrics, ten years each

Erie Indemnity Company (ERIE) key facts

  • Strength: Erie Indemnity Company’s revenue for fiscal 2025 (year ended December 2025) was $4.1 billion, up 7.17% from fiscal 2024.
  • Erie Indemnity Company (ERIE) is an Insurance Brokers company in the Financial sector, listed on Nasdaq.
  • As of October 16, 2026, ERIE traded at $243.71, a market capitalization of $11.1 billion.
  • Erie Indemnity Company pays an annual dividend of $5.85 per share, a yield of 2.40%, with a payout ratio of 53.0%.
  • Return on equity was 26.2% and debt-to-equity 0.00.
  • Its Piotroski F-score is 6 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Erie Indemnity Company (ERIE) Latest News

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stockrow.com/ERIE · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com