Erie Indemnity CompanyERIE
NasdaqGS•Financial Services•Insurance Brokers
Erie Indemnity Company operates as a managing attorney-in-fact for the subscribers at the Erie Insurance Exchange in the United States. It provides issuance and renewal services; sales related services, including agent compensation and sales and advertising support services; underwriting services that include underwriting and policy processing; and other services consist of customer services and administrative support services, as well as information technology services. The company was incorporated in 1925 and is based in Erie, Pennsylvania.
Erie Indemnity Company (ERIE) reported trailing twelve months revenue of $4.09B as of March 2026, a 4.8% increase year-over-year. Quarterly revenue reached $1.01B, reflecting continued top-line momentum.
Erie Indemnity Company generated $571.39M in TTM net income, with quarterly EBITDA of $166.79M. The operating margin expanded from 15.3% to 16.5%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (16.5%) and net margin (14.9%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 14.0% a year ago, signaling stronger bottom-line efficiency.
ERIE trades at a P/E of 18.3x (in line with broad market averages) and a P/S of 2.6x. The price-to-book ratio of 4.4x reflects a moderate premium to book value.
The company generated $54.48M in free cash flow over the trailing twelve months, a 38.4% decrease year-over-year, indicating cash generation ability. The balance sheet shows $3.38B in total assets with no in long-term debt against $2.35B in stockholders equity. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are stable at ~17.8%, suggesting durable pricing power and cost discipline.
Consistently high ROE averaging 27.9% suggests a durable competitive advantage and efficient capital allocation.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (7 of 7 quarters up), with ~15.3% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~17.9% — no sign of cost or pricing stress.
FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.
Limited debt-to-equity data available.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation