Erie Indemnity Company (ERIE) Key Metrics
ERIE valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $12.74B
- Enterprise value
- $11.63B
- P/E (TTM)
- 22.1 10-yr median 33.7
- Forward P/E
- 26.7
- PEG ratio
- 2.67
- Price / sales
- 3.1 10-yr median 4.1
- Price / book
- 5.0 10-yr median 8.2
- EV / EBITDA
- — 10-yr median 22.5
- Dividend yield
- 2.12% $5.85 a year
- Beta
- 0.33
ERIE key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsERIE valuation Price multiples at each fiscal year-end price.
ERIE returns How much profit the business earns on the capital it uses.
ERIE per-share figures Results divided by the shares outstanding at year-end.
ERIE financial health Debt, liquidity and how easily interest is covered.
ERIE efficiency & capital use Working capital cycle and where the cash goes.
ERIE valuation history
ERIE returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
ERIE debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
ERIE cash returned to shareholders
ERIE price vs earnings per share
ERIE key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $15.10B | $21.72B | $17.64B | $11.49B | $8.90B | $12.94B | $9.70B | $7.02B | $7.12B | $6.58B |
| Enterprise value | $14.75B | $21.41B | $17.53B | $11.44B | $8.77B | $12.86B | $9.45B | $6.46B | $7.14B | $6.57B |
| P/E ratio | 27.0 | 36.2 | 39.6 | 38.5 | 29.9 | 44.1 | 30.6 | 24.4 | 36.1 | 31.3 |
| Price / sales | 3.7 | 5.7 | 5.4 | 4.0 | 3.3 | 5.0 | 3.9 | 2.9 | 4.1 | 4.1 |
| Price / book | 6.6 | 10.9 | 10.6 | 7.9 | 6.6 | 10.9 | 8.6 | 7.2 | 8.3 | 8.1 |
| Price / free cash flow | 26.5 | 44.7 | 61.1 | 38.4 | — | — | — | 33.9 | 42.3 | 28.7 |
| Price / operating cash flow | 22.0 | 35.5 | 46.3 | 31.4 | 29.9 | 37.8 | 26.6 | 24.4 | 36.1 | 25.9 |
| EV / sales | 3.6 | 5.6 | 5.4 | 4.0 | 3.2 | 5.0 | 3.8 | 2.7 | 4.2 | 4.1 |
| EV / EBITDA | 18.7 | 27.7 | 28.9 | 26.4 | — | — | — | 17.3 | 22.5 | 20.5 |
| EV / free cash flow | 25.8 | 44.0 | 60.8 | 38.3 | — | — | — | 31.1 | 42.4 | 28.7 |
| Earnings yield | 3.7% | 2.8% | 2.5% | 2.6% | 3.3% | 2.3% | 3.3% | 4.1% | 2.8% | 3.2% |
| Free cash flow yield | 3.8% | 2.2% | 1.6% | 2.6% | −1.7% | −0.4% | −1.1% | 3.0% | 2.4% | 3.5% |
| Dividend yield | 1.7% | 1.1% | 1.3% | 1.8% | 2.2% | 2.1% | 1.7% | 2.2% | 2.0% | 2.1% |
| Shareholder yield (dividends + buybacks) | 1.7% | 1.1% | 1.3% | 1.8% | 2.2% | 2.1% | 1.7% | 2.2% | 2.0% | 2.1% |
| Share price at fiscal year-end | $286.65 | $412.23 | $334.92 | $248.72 | $192.66 | $245.60 | $166.00 | $133.31 | $121.84 | $112.45 |
| Per share | ||||||||||
| Revenue per share | $77.20 | $72.03 | $62.05 | $61.49 | $58.48 | $48.76 | $43.08 | $45.71 | $29.39 | $27.63 |
| Earnings per share | $10.62 | $11.39 | $8.47 | $6.46 | $6.45 | $5.57 | $5.42 | $5.47 | $3.37 | $3.59 |
| Operating cash flow per share | $13.03 | $11.60 | $7.24 | $7.93 | $6.45 | $6.50 | $6.24 | $5.47 | $3.37 | $4.34 |
| Free cash flow per share | $10.84 | $9.23 | $5.48 | $6.47 | −$3.22 | −$1.05 | −$1.75 | $3.93 | $2.88 | $3.91 |
| Cash per share | $6.70 | $6.06 | $4.29 | $3.60 | $4.81 | $3.40 | $6.37 | $12.69 | $4.91 | $4.19 |
| Book value per share | $43.34 | $37.72 | $31.56 | $31.36 | $29.07 | $22.55 | $19.40 | $18.48 | $14.67 | $13.96 |
| Tangible book value per share | $43.34 | $37.72 | $32.50 | $30.43 | −$1.43 | −$1.66 | $1.79 | $1.71 | $0.19 | $1.12 |
| Dividends per share | $4.83 | $4.51 | $4.21 | $4.48 | $4.17 | $5.18 | $2.87 | $2.97 | $2.49 | $2.32 |
| Capex per share | $2.20 | $2.37 | $1.76 | $1.45 | $3.22 | $1.05 | $1.75 | $1.07 | $0.50 | $0.43 |
| Debt per share | — | $0.14 | $2.13 | $2.65 | $2.03 | $1.82 | $2.05 | $1.89 | $5.18 | $4.02 |
| Shares outstanding | 52.7M | 52.7M | 52.7M | 46.2M | 46.2M | 52.7M | 58.4M | 52.7M | 58.4M | 58.5M |
| Change in shares outstanding | −0.0% | +0.0% | +14.1% | +0.0% | −12.3% | −9.8% | +10.9% | −9.8% | −0.2% | −0.1% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 26.2% | 32.9% | 28.7% | 21.4% | 23.5% | 25.3% | 30.1% | 31.5% | 23.5% | 26.5% |
| Return on invested capital (ROIC) | 31.4% | 33.3% | 28.0% | 22.8% | −19.5% | −21.4% | −26.5% | 45.4% | 23.5% | 27.6% |
| Return on assets (ROA) | 17.9% | 22.4% | 18.9% | 13.3% | 13.7% | 14.2% | 16.7% | 16.7% | 12.3% | 14.2% |
| Return on tangible assets | 16.7% | 20.8% | 17.7% | 13.6% | 35.7% | 34.8% | 32.1% | 32.2% | 24.0% | 26.4% |
| Free cash flow margin | 14.0% | 12.8% | 8.8% | 10.5% | −5.5% | −2.2% | −4.1% | 8.6% | 9.8% | 14.2% |
| Income quality (OCF / net income) | 1.23 | 1.02 | 0.85 | 1.23 | 1.00 | 1.17 | 1.15 | 1.00 | 1.00 | 1.21 |
| Financial health | ||||||||||
| Total debt | — | $7.5M | $112.3M | $122.5M | $93.8M | $95.9M | $119.8M | $99.7M | $302.9M | $235.3M |
| Cash & short-term investments | $353.0M | $319.4M | $226.1M | $166.4M | $222.1M | $178.9M | $371.9M | $668.8M | $286.9M | $245.2M |
| Net debt | −$353.0M | −$311.9M | −$113.8M | −$43.9M | −$128.3M | −$83.1M | −$252.2M | −$569.0M | $15.9M | −$9.9M |
| Debt / equity | — | 0.00 | 0.07 | 0.08 | 0.07 | 0.08 | 0.11 | 0.10 | 0.35 | 0.29 |
| Debt / assets | — | 0.00 | 0.05 | 0.05 | 0.04 | 0.05 | 0.06 | 0.06 | 0.18 | 0.15 |
| Net debt / EBITDA | −0.45 | −0.40 | −0.19 | −0.10 | — | — | — | −1.52 | 0.05 | −0.03 |
| Current ratio | 1.24 | 1.43 | 1.31 | 1.10 | 1.21 | 1.17 | 1.52 | 2.48 | 2.29 | 2.19 |
| Quick ratio | 1.24 | 1.43 | 1.31 | 1.11 | 1.31 | 1.26 | 1.51 | 2.48 | −0.02 | 2.19 |
| Interest coverage | — | — | — | 187.3 | -69.2 | -364.9 | -248.8 | 151.9 | 256.0 | — |
| Working capital | $216.6M | $342.5M | $221.2M | $70.3M | $132.9M | $104.6M | $303.7M | $697.6M | $427.5M | $355.3M |
| Invested capital | $1.93B | $1.68B | $1.55B | $1.40B | $1.21B | $1.10B | $881.1M | $404.6M | $873.3M | $807.0M |
| Tangible asset value | $2.28B | $1.99B | $1.71B | $1.41B | −$66.0M | −$87.3M | $104.5M | $90.1M | $11.0M | $65.5M |
| Net current asset value | $61.0M | $243.7M | $121.1M | −$12.3M | −$135.8M | −$196.8M | $8.4M | $364.3M | −$48.4M | −$78.0M |
| Graham number | $101.75 | $98.33 | $77.55 | $67.53 | $64.94 | $53.14 | $48.65 | $47.68 | $33.36 | $33.59 |
| Graham net-net per share | −$2.97 | −$0.82 | −$2.03 | −$5.11 | −$7.56 | −$7.75 | −$2.64 | $3.90 | $3.71 | −$3.08 |
| Capital allocation | ||||||||||
| Dividends paid | $254.3M | $237.5M | $221.7M | $206.8M | $192.8M | $272.9M | $167.7M | $156.5M | $145.8M | $136.0M |
| Share buybacks (net) | — | — | — | — | — | — | — | — | $0 | $0 |
| Dividend payout ratio | 45.5% | 39.6% | 49.7% | 69.3% | 64.7% | 93.0% | 52.9% | 54.3% | 74.0% | 64.6% |
| Dividends + buybacks / free cash flow | 44.5% | 48.8% | 76.8% | 69.2% | — | — | — | 75.5% | 86.7% | 59.3% |
| Capex / revenue | 2.8% | 3.3% | 2.8% | 2.4% | 5.5% | 2.2% | 4.1% | 2.3% | 1.7% | 1.6% |
| Capex / operating cash flow | 16.8% | 20.4% | 24.3% | 18.4% | 50.0% | 16.2% | 28.0% | 19.5% | 14.7% | 9.9% |
| Capex / depreciation | 1.51 | 1.95 | 1.73 | 1.30 | 3.03 | 1.62 | 3.32 | 4.21 | 1.95 | 1.66 |
| Stock-based compensation / revenue | −2.3% | −2.5% | 0.4% | −0.1% | 0.1% | 0.5% | 0.4% | 0.3% | 0.7% | 0.6% |
| R&D / revenue | — | — | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — |
| SG&A / revenue | 1.8% | 21.2% | 44.1% | 46.8% | 2.2% | 23.7% | — | 0.1% | 14.0% | 13.2% |
| Efficiency | ||||||||||
| Days sales outstanding | 65.9 | 65.1 | 64.7 | 64.5 | 65.8 | 68.8 | 67.4 | 70.3 | 93.7 | 86.0 |
| Days of inventory on hand | — | — | -0.6 | -5.4 | -8.5 | -4.7 | 0.2 | 68.7 | 99.9 | -53.9 |
| Days payables outstanding | 20.5 | 20.8 | 22.2 | 22.3 | 20.2 | 22.7 | 20.0 | 39.6 | 82.2 | 54.2 |
| Cash conversion cycle (days) | 45.3 | 44.2 | 41.9 | 36.8 | 37.1 | 41.4 | 47.6 | 99.4 | 111.4 | -22.1 |
| Receivables turnover | 5.54 | 5.61 | 5.64 | 5.66 | 5.55 | 5.30 | 5.42 | 5.19 | 3.89 | 4.24 |
| Payables turnover | 17.77 | 17.52 | 16.46 | 16.34 | 18.06 | 16.09 | 18.27 | 9.22 | 4.44 | 6.74 |
| Inventory turnover | — | — | — | — | — | — | 1,780.73 | 5.31 | 3.65 | — |
| Asset turnover | 1.30 | 1.42 | 1.39 | 1.27 | 1.24 | 1.24 | 1.33 | 1.40 | 1.07 | 1.09 |
| Average receivables | $734.0M | $676.5M | $579.9M | $502.0M | $486.9M | $484.4M | $464.6M | $464.2M | $441.0M | $381.2M |
| Average payables | $192.9M | $178.0M | $167.0M | $150.8M | $144.5M | $136.6M | $116.0M | $221.1M | $315.7M | $193.4M |
| Average inventory | — | — | −$4.9M | −$36.1M | −$60.6M | −$28.2M | $1.2M | $383.5M | $383.5M | −$192.5M |
| Intangibles / total assets | 0.0% | 0.0% | −2.0% | 1.9% | 62.8% | 60.2% | 51.0% | 49.7% | 50.8% | 48.5% |
Computed from ERIE's annual financial statements (latest annual report filed February 23, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
ERIE valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Erie Indemnity traded at 27.0 times earnings, against a 10-year median of 33.7. Based on the latest twelve months, the trailing P/E is 22.1 and the forward P/E is 26.7. Erie Indemnity earned a return on equity of 26.2% and a return on invested capital of 31.4% in fiscal 2025. It returned $254.3 million to shareholders: $254.3 million in dividends and $0 in share buybacks, 45% of free cash flow. The share count fell 10.0% from 58.5M to 52.7M over 9 years.
See the ERIE income statement, the ERIE chart for price history, or the ERIE stock overview for the latest quote and news.
ERIE key metrics FAQ
What is Erie Indemnity's P/E ratio?
Erie Indemnity's trailing P/E ratio is 22.1 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 26.7. At the end of fiscal 2025 it was 27.0, compared with a 10-year median of 33.7.
What is Erie Indemnity's EV/EBITDA?
Erie Indemnity's enterprise value was 18.7 times EBITDA at the end of fiscal 2025 (enterprise value $14.7 billion, EBITDA $787.4 million).
What is Erie Indemnity's return on equity?
Erie Indemnity's return on equity (ROE) was 26.2% in fiscal 2025: net income of $559.3 million on average shareholders' equity of $2.1 billion.
What is Erie Indemnity's ROIC?
Erie Indemnity's return on invested capital was 31.4% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
What is Erie Indemnity's dividend yield?
Erie Indemnity's forward dividend yield is 2.12%. Erie Indemnity paid $254.3 million in dividends in fiscal 2025 ($4.83 per share), a payout ratio of 45.5%.
What is Erie Indemnity's free cash flow yield?
Erie Indemnity generated $571.0 million of free cash flow in fiscal 2025, a free cash flow yield of 3.8% on its market value at year-end ($15.1 billion).
What is Erie Indemnity's current ratio?
Erie Indemnity's current ratio was 1.24 at the end of fiscal 2025: current assets were 1.24 times current liabilities.