ERIE INDEMNITY CO ERIE
Erie Indemnity Company ("Indemnity", "we", "us", "our") is a publicly held Pennsylvania business corporation that has since its incorporation in 1925 served as the attorney-in-fact for the subscribers (policyholders) at the Erie Insurance Exchange ("Exchange"). The Exchange, which also commenced business in 1925, is a Pennsylvania-domiciled reciprocal insurer that writes property and casualty insurance. The Exchange has wholly owned property and casualty insurance subsidiaries including: Erie Insurance Company, Erie Insurance Company of New York, Erie Insurance Property & Casualty Company and Flagship City Insurance Company, and a wholly owned life insurance company, Erie Family Life Insurance Company ("EFL").
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.07B | $3.80B | $3.27B | $2.84B | $2.63B | $2.54B | $2.48B | $2.38B | $1.69B | $1.60B |
| Total operating expenses | $3.35B | $3.12B | $2.75B | $2.46B | $2.32B | $2.20B | $2.12B | $2.04B | $1.40B | $1.30B |
| Operating income | $717.2M | $676.5M | $520.3M | $376.2M | $318.1M | $338.2M | $357.3M | $344.3M | $290.3M | $293.5M |
| Interest expense | — | $0 | $0 | $2.0M | $4.1M | $731.0K | $856.0K | $2.5M | $1.2M | $101.0K |
| Pre-tax income | $710.6M | $757.3M | $561.9M | $376.5M | $376.4M | $368.5M | $396.7M | $371.3M | $315.7M | $320.1M |
| Income tax | $151.3M | $157.0M | $115.9M | $77.9M | $78.5M | $75.2M | $79.9M | $83.1M | $118.7M | $109.7M |
| Net income | $559.3M | $600.3M | $446.1M | $298.6M | $297.9M | $293.3M | $316.8M | $288.2M | $197.0M | $210.4M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $345.9M | $298.4M | $144.1M | $142.1M | $183.7M | $161.2M | $336.7M | $266.4M | $215.7M | $189.1M |
| Short-term investments | $33.9M | $44.6M | $82.0M | $24.3M | $38.4M | $17.7M | $32.8M | $402.3M | — | — |
| Receivables | $735.6M | $707.1M | $625.3M | $524.9M | $479.1M | $494.6M | $468.6M | — | — | — |
| Total current assets | $1.20B | $1.15B | $930.2M | $778.8M | $763.7M | $732.3M | $891.4M | $1.17B | $801.9M | $665.5M |
| Total assets | $3.36B | $2.89B | $2.47B | $2.24B | $2.24B | $2.12B | $2.02B | $1.78B | $1.67B | $1.55B |
| Accounts payable | $200.7M | $190.0M | $175.6M | $165.9M | $138.3M | $150.7M | $135.0M | $111.3M | $104.5M | $88.2M |
| Short-term debt | — | — | — | $0 | $2.1M | $2.0M | $2.0M | $1.9M | — | — |
| Total current liabilities | $945.6M | $802.5M | $709.0M | $665.1M | $630.9M | $627.7M | $587.7M | $547.1M | $509.9M | $469.6M |
| Long-term debt | — | — | — | $0 | $91.7M | $93.8M | $95.8M | $97.9M | $74.7M | $24.8M |
| Total liabilities | $1.07B | $901.4M | $809.1M | $791.0M | $899.6M | $929.1M | $883.0M | $804.7M | $808.5M | $732.0M |
| Retained earnings | $3.46B | $3.16B | $2.80B | $2.58B | $2.50B | $2.39B | $2.38B | $2.23B | $2.14B | $2.07B |
| Total equity | $2.28B | $1.99B | $1.66B | $1.45B | $1.34B | $1.19B | $1.13B | $973.7M | $857.3M | $816.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $686.7M | $611.2M | $381.2M | $366.2M | $402.8M | $342.6M | $364.5M | $263.6M | $197.1M | $254.3M |
| Depreciation and amortisation | $69.5M | $56.5M | $47.4M | $45.9M | $37.2M | $21.2M | $16.8M | $13.4M | $14.8M | $15.1M |
| Capital expenditure | $115.7M | $124.8M | $92.6M | $67.2M | $148.8M | $55.5M | $102.0M | $56.3M | $28.9M | $25.2M |
| Investing cash flow | -$439.3M | -$226.9M | -$157.6M | -$106.9M | -$185.5M | -$243.2M | -$124.6M | -$81.4M | -$74.7M | -$136.9M |
| Financing cash flow | -$199.9M | -$230.0M | -$221.7M | -$300.8M | -$194.8M | -$274.9M | -$169.6M | -$131.5M | -$95.8M | -$111.2M |
| Dividends paid | $254.3M | $237.5M | $221.7M | $206.8M | $192.8M | $272.9M | $167.7M | $156.5M | $145.8M | $136.0M |
| Buybacks | — | — | — | — | — | — | — | — | — | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-010666.
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