Erie Indemnity vs Ryan Specialty Holdings
Erie Indemnity is the larger business, with $4.07bn of revenue in fiscal 2025 against $3.05bn for Ryan Specialty Holdings (1.3 times as much). Ryan Specialty Holdings grew faster (21.3% against 7.2%). Erie Indemnity kept more of each dollar of sales as profit: a net margin of 13.8% against 2.1%. Erie Indemnity carries less debt relative to equity (0.0% against 523.7%).
| Latest fiscal year | Erie IndemnityERIE, 2025 | Ryan Specialty HoldingsRYAN, 2025 |
|---|---|---|
| Revenue | $4.07bn | $3.05bn |
| Revenue growth | 7.2% | 21.3% |
| Net income | $559m | $63.4m |
| Operating margin | 17.6% | 16.2% |
| Net margin | 13.8% | 2.1% |
| Return on equity | 26.2% | 9.9% |
| Free cash flow | $571m | $641m |
| Cash | $346m | $158m |
| Total debt | $0 | $3.39bn |
| Debt to equity | 0.0% | 523.7% |
| Dividend per share | — | — |
| Dividend yield | 2.1% | 1.2% |
| Share buybacks | — | — |
| Employees | 6,667 | 6,110 |
| Market value | $12.55bn | $5.56bn |
| Price vs our value range | Within our value range | — |
| Moat score | — | — |
| Insider trades, 12 months | 3 buys, 1 sales | 9 buys, 4 sales |