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Erie Indemnity (ERIE) stock

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NASDAQ: ERIE Nasdaq Insurance Brokers Next results ~February 1, 2027

D Fundamentals grade

Erie Indemnity is a US-listed company in the insurance brokers industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$250

Cash-flow model

Base case. Range ~$190–$330 across our lower- and higher-growth cases (0.7%–10.7% a year).

Price vs value

Modestly overvalued

The price is inside our value range, 7% above our base value.

Price used: $271.63, November 3, 2026

Erie Indemnity valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Erie Indemnity files

10-Q filed October 29: Erie Indemnity

Erie Indemnity's revenue reached $4.12bn over the twelve months to September 2026, a rise of 2.0% on the year, a marked slowdown from the 3.7% growth recorded a quarter earlier. Free-cash-flow margin was unchanged at 13.4%. Our model value has barely moved, at $252 a share, close to the current price of $250, and the rating stays Hold. Working back from that price, the market appears to be pricing in cash-flow growth of about 7.0% a year over five years. That is well below the 9.4% a year revenue growth the company has actually delivered, suggesting the shares are not pricing in much optimism about the future.

Source: 10-Q filed October 29, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where Erie Indemnity stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $4.12bn, up 3.7% on a year earlier, slower than 4.8% a quarter earlier. Free-cash-flow margin held at 13.4%. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 2 of our 2 financial-health checks. Our cash-flow model value is $252 a share, against a share price of $245. At that price, our model says the market is pricing in about 6.7% a year of cash-flow growth for five years, slower than the 9.4% a year revenue growth it has delivered.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~February 1, 2027 (estimated)

Erie Indemnity's trailing-twelve-month revenue grew 2.0% year on year, with a free-cash-flow margin of 13.4%. Where it lags: free-cash-flow margin of 13.4% ranks 6 of 6 insurance brokers companies we cover.

Our discounted-cash-flow model values the business at ~$250 per share in the base case (~$190–$330 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth decelerating: TTM revenue growth slowed to 2.0% (-1.6pp vs the prior quarter), the 8th consecutive quarterly slowdown.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

Nothing in Erie Indemnity's latest figures clears our strength thresholds.

Things to watch

  • Below peers: free-cash-flow margin. Free-cash-flow margin of 13.4% ranks 6 of 6 insurance brokers companies we cover (median 17.0%).
  • Below peers: revenue growth. Revenue growth of 2.0% ranks 14 of 17 insurance brokers companies we cover (median 7.6%).

Latest results: FY2026 Q3

Filed October 29, 2026
Earnings per share
$3.56 against an average estimate of $3.41: beat by 4.5%
Revenue
$1.07bn, up 0.3% on a year earlier
Share reaction
+6.1% in the first session after the results on October 29, 2026, against -2.1% for the S&P 500
Next report
October 29, 2026; average EPS estimate $2.95

Erie Indemnity's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.8%
  • 1 week+10.0%
  • 1 month+23.7%
  • This year-2.2%
  • 1 year-2.6%
  • 5 years+36.7%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$4.1B
Operating margin
17.9%
Net margin
14.0%

Growth

Revenue growth
+2.0%
Change in growth rate
−1.6 pts

Cash

Free cash flow (TTM)
$554M
FCF margin
13.4%

Earnings

Last results
October 29, 2026
Next results (est.)
February 1, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Erie Indemnity valuation models and calculator

What the price is pricing in

The share price implies about 6.9% a year of cash-flow growth for five years.That is close to the 9.4% a year revenue growth Erie Indemnity has delivered.

  • Priced in6.9%
  • Last 12 months2.0%
  • 3 years a year9.4%
  • 5 years a year9.4%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($271.06, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$250
Price used
$271.06close November 3, 2026
Implied change
▼ 6%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Erie Indemnity's free cash flow after stock-based pay with after-tax interest added back ($556M, FY2026 Q3 TTM), growing 5.7% a year for five years and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$190–~$330 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Erie Indemnity's free cash flow after stock-based pay ( $556M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Erie Indemnity as an asset manager, broker or exchange, with every model that fits that kind of business. Cost of equity 7.2%: the 10-year Treasury yield (4.9%) plus a beta of 0.51 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$250 ~$190–$330 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$340 ~$240–$570 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$310 ~$230–$450 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$310 ~$250–$410 Included
Price-to-book vs peers Book value per share times peers' typical (harmonic-mean) price-to-book. ~$13 ~$18–$200 Left out: out of range vs price (0.05x)
Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. ~$370 ~$290–$500 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$310 ~$250–$370 5 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Erie Indemnity with insurance brokers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −24%
  • Revenue growth 5 points higher ▲ +32%
  • Free-cash-flow margin 1 point lower ▼ −7%
  • Last year's free-cash-flow margin change, if it persists ▼ −6%
  • Discount rate 1 point higher ▼ −14%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $181$243$326$434$575$758
8.5% $140$185$245$322$423$553
10% $116$150$196$256$332$431

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: High.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $12.70 +4% $4.2bn +3%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +0.3% on 90 days ago. In the last 30 days, 1 analyst raised Erie Indemnity's forecast and 0 cut it.

Consensus EPS forecast Erie Indemnity, last 90 days
$12.66 $12.67 $12.68 $12.69 $12.70 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $12.66 Current fiscal year, 60 days ago: $12.66 Current fiscal year, 30 days ago: $12.66 Current fiscal year, 7 days ago: $12.66 Current fiscal year, Now: $12.70 $12.70

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal year
90 days ago $12.66
60 days ago $12.66
30 days ago $12.66
7 days ago $12.66
Now $12.70

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $3.41 $3.56 +4.5%
Jun 2026 $3.35 $3.45 +2.9%
Mar 2026 $3.06 $2.90 −5.3%
Dec 2025 $1.59 $2.76 +73.7%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 29, 2026

No numeric guidance in Erie Indemnity's latest earnings release (filed October 29, 2026). Some companies give their outlook only on the earnings call.

Analyst recommendations

1 analysts, Oct 2026
Buy1100%
Hold00%
Sell00%

Monthly trend

  1. Oct 202611

Counts of recommendations published by analysts covering Erie Indemnity, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
9.9%
of tradable shares
Days to cover
12.69
at average volume
Short interest, 1 month
+4%
to October 15, 2026
Held by institutions
46%
of shares
Held by insiders
45.5%
of shares
Employees
6,667
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
ERIE−20%+32%+37%+25%−29%−2%
Industry peers (median)+14%−27%+16%+27%−19%−1%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
ERIE25%67%42%42%25%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
ERIE−34%−17%−20%−26%−38%−28%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 61% from September 24, 2024 to June 3, 2026. Getting back needed a 156% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$204.70 – $292.87
From 52-week high
−6.5%
vs 50-day average
+13.7%
vs 200-day average
+13.3%
Volatility (1 year)
38%
Beta vs S&P 500
-0.52

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±6.1%
After a week
6 up, 5 down
typical move ±8.4%
After a month
5 up, 6 down
typical move ±9.3%
Results releasedNext dayS&P 500 next day5 days21 days
October 29, 2026 +6.1% −2.1% — —
July 30, 2026 −2.6% +2.4% +2.2% +4.8%
April 23, 2026 −6.6% +0.4% −12.4% −10.3%
February 23, 2026 −5.9% −0.3% −2.3% −11.9%
October 30, 2025 −3.1% −0.8% −6.7% −2.7%
August 7, 2025 −0.4% +0.7% +2.6% −6.3%
April 24, 2025 −12.1% +2.8% −14.7% −15.3%
February 27, 2025 +7.1% −0.1% +12.6% +2.7%
October 31, 2024 −7.8% −1.5% −5.7% −2.9%
July 25, 2024 +9.9% +0.6% +14.7% +27.6%
April 25, 2024 −0.2% +0.6% +0.6% +1.6%
February 26, 2024 +11.4% −0.2% +17.9% +16.2%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Erie Indemnity’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 3, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade D (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Erie Indemnity in five measures

Fundamentals grade D
Growth Profitability Cash Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Erie Indemnity
$3B $3.5B $4B $4.5B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $3.3B Revenue (TTM), FY24 Q1: $3.4B Revenue (TTM), FY24 Q2: $3.5B Revenue (TTM), FY24 Q3: $3.7B Revenue (TTM), FY24 Q4: $3.8B Revenue (TTM), FY25 Q1: $3.9B Revenue (TTM), FY25 Q2: $4B Revenue (TTM), FY25 Q3: $4B Revenue (TTM), FY25 Q4: $4.1B Revenue (TTM), FY26 Q1: $4.1B Revenue (TTM), FY26 Q2: $4.1B Revenue (TTM), FY26 Q3: $4.1B $4.1B

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $3.3B
FY24 Q1 $3.4B
FY24 Q2 $3.5B
FY24 Q3 $3.7B
FY24 Q4 $3.8B
FY25 Q1 $3.9B
FY25 Q2 $4B
FY25 Q3 $4B
FY25 Q4 $4.1B
FY26 Q1 $4.1B
FY26 Q2 $4.1B
FY26 Q3 $4.1B
Revenue growth, TTM YoY Erie Indemnity
0% 5% 10% 15% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 15.1% Revenue growth, TTM YoY, FY24 Q1: 16.3% Revenue growth, TTM YoY, FY24 Q2: 16.9% Revenue growth, TTM YoY, FY24 Q3: 17.0% Revenue growth, TTM YoY, FY24 Q4: 16.1% Revenue growth, TTM YoY, FY25 Q1: 14.9% Revenue growth, TTM YoY, FY25 Q2: 12.0% Revenue growth, TTM YoY, FY25 Q3: 9.5% Revenue growth, TTM YoY, FY25 Q4: 7.2% Revenue growth, TTM YoY, FY26 Q1: 4.8% Revenue growth, TTM YoY, FY26 Q2: 3.7% Revenue growth, TTM YoY, FY26 Q3: 2.0% 2.0%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 15.1%
FY24 Q1 16.3%
FY24 Q2 16.9%
FY24 Q3 17.0%
FY24 Q4 16.1%
FY25 Q1 14.9%
FY25 Q2 12.0%
FY25 Q3 9.5%
FY25 Q4 7.2%
FY26 Q1 4.8%
FY26 Q2 3.7%
FY26 Q3 2.0%
Operating margin (TTM) Erie Indemnity
15% 16% 17% 18% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 15.9% Operating margin (TTM), FY24 Q1: 16.1% Operating margin (TTM), FY24 Q2: 17.0% Operating margin (TTM), FY24 Q3: 17.2% Operating margin (TTM), FY24 Q4: 17.8% Operating margin (TTM), FY25 Q1: 17.6% Operating margin (TTM), FY25 Q2: 17.6% Operating margin (TTM), FY25 Q3: 18.0% Operating margin (TTM), FY25 Q4: 17.6% Operating margin (TTM), FY26 Q1: 17.9% Operating margin (TTM), FY26 Q2: 17.9% Operating margin (TTM), FY26 Q3: 17.9% 17.9%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 15.9%
FY24 Q1 16.1%
FY24 Q2 17.0%
FY24 Q3 17.2%
FY24 Q4 17.8%
FY25 Q1 17.6%
FY25 Q2 17.6%
FY25 Q3 18.0%
FY25 Q4 17.6%
FY26 Q1 17.9%
FY26 Q2 17.9%
FY26 Q3 17.9%
FCF margin (TTM) Erie Indemnity
8% 10% 12% 14% 16% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 8.8% FCF margin (TTM), FY24 Q1: 9.5% FCF margin (TTM), FY24 Q2: 9.1% FCF margin (TTM), FY24 Q3: 12.7% FCF margin (TTM), FY24 Q4: 12.8% FCF margin (TTM), FY25 Q1: 13.1% FCF margin (TTM), FY25 Q2: 14.2% FCF margin (TTM), FY25 Q3: 14.3% FCF margin (TTM), FY25 Q4: 14.0% FCF margin (TTM), FY26 Q1: 13.1% FCF margin (TTM), FY26 Q2: 13.4% FCF margin (TTM), FY26 Q3: 13.4% 13.4%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 8.8%
FY24 Q1 9.5%
FY24 Q2 9.1%
FY24 Q3 12.7%
FY24 Q4 12.8%
FY25 Q1 13.1%
FY25 Q2 14.2%
FY25 Q3 14.3%
FY25 Q4 14.0%
FY26 Q1 13.1%
FY26 Q2 13.4%
FY26 Q3 13.4%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Erie Indemnity took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $4.1B
  2. Other operating costs $3.4B · 82.4%
  3. Operating income $717M · 17.6%
  4. Income tax $151M · 3.7%
  5. Net income $559M · 13.8%

Shares of revenue. Source: Erie Indemnity's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 4,255 4,890 4,824 5,512 1,297 1,407 1,506 1,597 1,692 2,382 2,477 2,536 2,634 2,840 3,269 3,795 4,067 4,123
EBITDA — — — — 224 239 248 309 305 358 374 359 355 422 568 733 787 —
Operating income — — — — 209 223 233 294 290 344 357 338 318 376 520 676 717 736
Net income 108 162 169 160 163 168 175 210 197 288 317 293 298 299 446 600 559 576
Growth (year on year)
Revenue +60.5% +14.9% −1.3% +14.3% −76.5% +8.5% +7.0% +6.1% +6.0% +40.8% +4.0% +2.4% +3.8% +7.8% +15.1% +16.1% +7.2% +2.0%
EBITDA — — — — — +6.3% +4.1% +24.2% −1.2% +17.3% +4.6% −4.0% −1.1% +18.8% +34.5% +29.1% +7.3% —
Operating income — — — — — +6.5% +4.4% +26.2% −1.1% +18.6% +3.8% −5.4% −5.9% +18.3% +38.3% +30.0% +6.0% +1.3%
Net income +56.5% +50.0% +4.3% −5.3% +1.6% +3.0% +4.3% +20.4% −6.4% +46.3% +9.9% −7.4% +1.6% +0.2% +49.4% +34.6% −6.8% −11.1%
Margins
EBITDA margin — — — — 17.3% 17.0% 16.5% 19.3% 18.0% 15.0% 15.1% 14.2% 13.5% 14.9% 17.4% 19.3% 19.3% —
Operating margin — — — — 16.1% 15.8% 15.4% 18.4% 17.2% 14.5% 14.4% 13.3% 12.1% 13.2% 15.9% 17.8% 17.6% 17.9%
Net margin 2.5% 3.3% 3.5% 2.9% 12.5% 11.9% 11.6% 13.2% 11.6% 12.1% 12.8% 11.6% 11.3% 10.5% 13.6% 15.8% 13.8% 14.0%
Free-cash-flow margin — — — — — — — 14.4% 9.9% 8.7% 10.6% 11.3% 9.6% 10.5% 8.8% 12.8% 14.0% 13.4%
Cash flow
Cash from operations 889 721 360 577 218 186 217 254 197 264 365 343 403 366 381 611 687 692
Capital spending — — — — — — — 25 29 56 102 56 149 67 93 125 116 138
Free cash flow — — — — — — — 229 168 207 262 287 254 299 289 486 571 554
Balance sheet
Cash 234 430 185 12 49 92 183 189 216 266 337 161 184 142 144 298 346 363
Total debt 0 0 0 0 0 0 0 25 75 100 98 96 94 0 0 0 0 0
Net debt (negative = net cash) −234 −430 −185 −12 −49 −92 −183 −164 −141 −167 −239 −65 −90 −142 −144 −298 −346 −363
Returned to shareholders
Dividends 93 98 102 229 84 119 127 136 146 156 168 273 193 207 222 238 254 268
Buybacks 3 57 155 70 32 20 0 0 — — — — — — — — — —
Total returned 96 155 257 299 115 138 127 136 146 156 168 273 193 207 222 238 254 268

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · September 30, 2026
What it owns · $3.7bn
Short-term assets $1.3bnLonger-term assets $2.3bn
What it owes, and who funded it · $3.7bn
Short-term liabilities $1.0bnLonger-term liabilities $105mShareholders' equity $2.6bn
  • Short-term assets cover short-term liabilities $1.3bn of assets due within a year against $1.0bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.3bn short-term assets against $105m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Erie Indemnity's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Dividends (TTM)
$268M
Total shareholder yield
2.1%
dividends 2.1% + buybacks 0.0% of market value
Dividend payout ratio
47%
of net income paid out
Days sales outstanding
69 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in insurance brokers
Last 12 months unless stated ERIE RYAN BRO BWIN WTW SLQT Median
Revenue, last 12 months $4.1bn $3.3bn $6.9bn $1.7bn $10.3bn $1.6bn $1.6bn
Revenue growth, last 12 months 2.0% 9.8% 26.1% 18.9% 4.8% 6.0% 7.6%
Revenue growth, 3-year average 9.4% 18.0% 18.7% — 3.4% 17.3% 13.8%
Revenue growth, latest quarter 0.3% 4.7% 7.4% 30.1% 7.5% −6.8% 4.7%
Operating margin 17.9% 15.6% — −6.9% 22.0% 4.6% 9.4%
Operating margin, 3-year average 17.7% 16.7% — 0.4% 16.2% 4.6% 4.9%
Net margin 14.0% 3.2% 17.6% −4.7% 15.2% 3.8% 4.9%
Cash from operations / revenue 16.8% 17.5% 22.9% 5.2% 19.3% 2.0% 15.5%
Free-cash-flow margin 13.4% 17.5% 21.5% 2.5% 17.0% 1.7% 13.4%
Free-cash-flow margin, 3-year average 13.5% 20.0% 22.4% −2.4% 14.0% 0.6% 13.7%
Stock pay / revenue — 2.2% 1.3% 4.3% 2.2% 0.9% 1.4%
Change in share count — — 12.3% 23.3% −4.3% 3.5% 5.7%

Median of all 17 companies we cover in insurance brokers. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

17 insurance brokers companies
Measure Company Peer median Rank
Revenue growth Growth 2.0% 7.6% 14 of 17
Change in growth rate Growth -1.6pp -0.7pp 11 of 17
Operating margin Profitability 17.9% 10.8% 5 of 14
Net margin Profitability 14.0% 4.9% 5 of 17
Free-cash-flow margin Cash generation 13.4% 17.0% 6 of 6

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Policy Issuance and Renewal Services $3.1B 77.0% ▲ 8.2%
Administrative Services Reimbursements $837M 20.6% ▲ 3.8%
Administrative Services Management Fee $74.1M 1.8% ▲ 8.3%
Service Agreement $24.8M 0.6% ▼ 6.1%

From Erie Indemnity's 10-K filed February 23, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$5B
Institutions reporting
438
Shares held vs prior quarter
▲ 4.5%
Positions opened / closed
76 / 42

Top buyers and sellers, Q2 2026: 264 institutions bought and 156 sold ; the biggest buyer was Invesco Ltd (+95K shares) and the biggest seller Franklin Resources Inc (−159K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
PNC Financial Services Group, Inc. $1.2B 4.8M 23.1% ▼ 1.7%
Blackrock, Inc. $401M 1.7M 8.0% ▲ 5.9%
Vanguard Capital Management LLC $392M 1.6M 7.8% ▲ 0.3%
State Street Corp $345M 1.4M 6.9% ▲ 3.9%
Vanguard Portfolio Management LLC $266M 1.1M 5.3% ▲ 0.5%
Invesco Ltd. $262M 1.1M 5.2% ▲ 9.5%
Geode Capital Management, LLC $215M 899K 4.3% ▲ 4.3%
Charles Schwab Investment Management Inc $205M 856K 4.1% ▲ 12.0%
Proshare Advisors LLC $154M 641K 3.1% ▲ 7.3%
Bank Of America Corp $126M 526K 2.5% ▲ 9.7%
Morgan Stanley $123M 514K 2.5% ▲ 12.2%
Dimensional Fund Advisors LP $62.4M 260K 1.2% ▲ 15.1%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Erie Indemnity's complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $1.4M 3 trades by 1 insider, last 12 months Insider sales History → $100,952 1 trade by 1 insider · 0% under pre-set plans
Net ▲ $1.3M net buying
Insider Date Trade Shares Price Value
Vorsheck Elizabeth A Director June 2, 2026 Buy 4,000 $200.00 $800,000
Vorsheck Elizabeth A Director June 2, 2026 Buy 1,000 $211.50 $211,500
Vorsheck Elizabeth A Director June 2, 2026 Buy 2,000 $211.00 $422,000
Dabreo Anthony Senior Vice President, Life May 8, 2026 Sell 465 $217.10 $100,952

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 5 trades and filings

In the last 12 months, 1 member of Congress disclosed 1 purchase and 1 sale of Erie Indemnity shares.

  • Gilbert Ray Cisneros, Jr.(D-CA 31):Sale (full), $1,001 - $15,000, traded February 10, 2026, filed March 9, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Purchase, $1,001 - $15,000, traded December 19, 2025, filed January 12, 2026
  • Virginia Foxx(R-NC 5):Sale (full), $50,001 - $100,000, traded March 28, 2017, filed April 11, 2017

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 1, 2027 estimated from the company's past filing pattern, not announced

  • October 29, 2026
  • July 30, 2026
  • April 23, 2026
  • February 23, 2026
  • October 30, 2025
  • August 7, 2025

Recent SEC filings

Data status

When each part of this page on Erie Indemnity was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Erie Indemnity in brief

What does Erie Indemnity do?
Erie Indemnity is a US-listed company in the insurance brokers industry. Its financial year ends in December.
What is Erie Indemnity's stock ticker?
Erie Indemnity trades under the ticker ERIE on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Erie Indemnity's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Erie Indemnity reported revenue of $4.1B, 2.0% higher than a year earlier, according to its SEC filings.
What is Erie Indemnity's free cash flow?
Erie Indemnity's free-cash-flow margin is 13.4% of revenue over the trailing twelve months, ranking 6 of the 6 insurance brokers companies we cover.
What is Erie Indemnity's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Erie Indemnity's free cash flow after stock-based pay gives ~$250 per share in the base case, and ~$190–$330 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Erie Indemnity's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are PNC Financial Services Group, Inc., Blackrock, Inc. and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Does Erie Indemnity pay a dividend?
Yes: Erie Indemnity paid $268M in dividends over the trailing twelve months, a dividend yield of 2.12% and a payout ratio of 46.5%.
Who are Erie Indemnity's competitors?
In our Insurance Brokers peer group, the companies closest to Erie Indemnity are Ryan Specialty Holdings, Inc., Brown & Brown, Baldwin Insurance Group, Inc., Willis Towers Watson and Selectquote, Inc. The side-by-side comparison below sets their revenue, margins and growth against Erie Indemnity's.
Are insiders buying or selling Erie Indemnity stock?
Over the last 12 months, Erie Indemnity's directors and officers reported 3 open-market purchases and 1 sales on Form 4. The insider trading page charts every trade.
When is Erie Indemnity's next earnings date?
Around February 1, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Erie Indemnity announces its own schedule.