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Manages and services the Erie Insurance Exchange (not underwriting risk itself), earning a management fee on premiums.
Manages and services the Erie Insurance Exchange (not underwriting risk itself), earning a management fee on premiums.
Collects a management fee set as a share of the premiums the Erie Insurance Exchange writes, plus fees for related services, while the Exchange, which policyholders own, carries the insurance risk. Pennsylvania insurance regulators cap the share the company may take.
Moat: wide (regulatory licence, switching costs, installed base). Exclusive, long-term management contract with the Erie Insurance Exchange is essentially impossible for a rival to displace.
Headquarters: Erie, Pennsylvania, United States · Founded: 1925 · Employees: 6,667
Size Erie Indemnity (ERIE) is a United States Financials company (Property/Casualty Insurance) with a market value of $12.7B, the 669th largest of 3,117 United States companies the cockpit tracks. Shares closed at $273.07 on 6 Nov 2026.
Performance Over six months the shares gained 26.5%, against +17.3% for the median peer and -1.1% for the United States market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue grew 2.0% over the last twelve months (peer median +3.1%); the operating margin is 17.7% (peer median 14.0%).
Valuation It trades at 4.98× book value against a peer median of 2.04× (4th most expensive of 21).
Price implies The share price implies a return on equity of about 19.7%; Erie Indemnity delivers 23.7%, so the price asks less than the business earns today.
Short interest Short interest is 5.4% of the free float (15 Oct 2026).
Next results Next results expected around 1 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $4.12B | $4.07B | $3.79B | $3.26B | $2.82B |
| Revenue growth | — | +7% | +16% | +15% | — |
| Gross profit | $735M | $718M | $676M | $511M | $360M |
| EBITDA | $811M | $796M | $744M | $568M | $401M |
| Net income | $576M | $559M | $600M | $446M | $299M |
| Free cash flow | $554M | $571M | $486M | $289M | $299M |
| Capital expenditure | $138M | $116M | $125M | $92.6M | $67.2M |
| Total debt | $0 | $0 | $0 | $0 | $0 |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Erie Indemnity ERIE | $12.7B | +26% | +2% | 24% | 4.98× | 19.7% |
| Progressive PGR | $132B | +17% | +8% | 33% | 3.82× | 15.8% |
| Allstate ALL | $64.4B | +20% | +6% | 46% | 2.04× | 9.9% |
| Travelers Companies (The) TRV | $81.0B | +33% | +1% | 28% | 2.79× | 13.9% |
| Cincinnati Financial CINF | $28.5B | +15% | +10% | 17% | 1.76× | 10.6% |
| Hanover Insurance THG | $8.35B | +28% | +5% | 22% | 2.43× | 11.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ERIE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +20.5% | +9.3% | 2nd highest of 21 |
| 6-month return | +26.5% | +17.3% | 5th highest of 21 |
| Return on equity | 23.7% | 14.4% | 4th highest of 21 |
| Price / book | 4.98× | 2.04× | 4th most expensive of 21 |
| Trailing P/E | 25.0× | 12.6× | 2nd most expensive of 19 |
| ROE the price implies | 19.7% | 11.2% | 4th most demanding of 21 |
| ROE delivered | 23.7% | 14.0% | 4th highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Erie Indemnity ERIE | United States | $12.7B | +26% | +2% | 24% | 4.98× | 19.7% | 23.7% |
| American Financial AFG | United States | $12.8B | +18% | +3% | 18% | 2.67× | 15.1% | n/a |
| RenaissanceRe RNR | United States | $14.0B | +16% | -21% | 13% | 1.34× | 7.5% | 13.4% |
| Insurance Australia IAG.AX | Australia | $14.4B | +17% | +9% | 14% | 2.87× | 13.1% | 14.0% |
| Assurant AIZ | United States | $15.1B | +29% | +9% | 44% | 2.60× | 14.6% | 44.2% |
| Everest EG | United States | $15.2B | +18% | -9% | 13% | 1.08× | 6.6% | 12.8% |
| Admiral ADM.L | United Kingdom | $16.1B | +23% | 0% | 46% | 8.04× | 33.5% | 45.6% |
| SamsungF&MIns 000810.KS | South Korea | $17.2B | +31% | +5% | 8% | 0.71× | 4.8% | 8.1% |
| Hanover Insurance THG | United States | $8.35B | +28% | +5% | 22% | 2.43× | 11.2% | 21.8% |
| Loews L | United States | $22.2B | +5% | +3% | 8% | 1.22× | 8.3% | 8.1% |
| Scor SCR.PA | France | $6.96B | +10% | -4% | 19% | 1.44× | 9.8% | 18.8% |
| Markel MKL | United States | $23.7B | +7% | -1% | 10% | 1.28× | 9.2% | 9.6% |
| Definity Financial DFY.TO | Canada | $6.47B | +14% | +35% | 12% | 2.13× | 7.6% | 11.7% |
| Hagerty HGTY | United States | $6.18B | +79% | +1% | 5% | 8.42× | 53.7% | 4.6% |
| Selective Insurance SIGI | United States | $5.87B | +17% | +4% | 15% | 1.81× | 9.1% | 14.7% |
| MGIC Investment MTG | United States | $5.87B | +7% | -2% | 14% | 1.18× | 8.9% | 13.9% |
| QBE Insurance QBE.AX | Australia | $27.7B | +19% | +3% | 19% | 2.37× | 11.3% | 19.1% |
| Sampo SAMPO.HE | Finland | $29.1B | +10% | +2% | 16% | 3.60× | 11.3% | 16.5% |
| Mercury General MCY | United States | $4.58B | -17% | +5% | 26% | 1.63× | 13.7% | 25.5% |
| Hartford (The) HIG | United States | $35.8B | +1% | +4% | 23% | 1.94× | 11.3% | 22.7% |
| Accelerant ARX | United States | $4.32B | +19% | +55% | -380% | 6.01× | 23.2% | -380.1% |