ER
Erie Indemnity Co
ERIE—
Erie Indemnity Co AI Insights
Informational only. Not investment advice.Snapshot
- Zero debt with 30.4% ROE TTM vs industry median 14.5% - capital-light fee model generates 2x peer returns without leverage[Return on Equity]
- Asset turnover 1.34x TTM vs median 0.28x - 4.8x more efficient, reflecting management fee structure vs balance-sheet insurers[Asset Turnover]
- FCF of 577M TTM on 4.2B revenue (13.9% yield) funds 61% dividend payout while maintaining 541M cash buffer[Free Cash Flow]
Watch Triggers
- Total Revenue 3Y Growth: Falls below 10% CAGR — Signals Exchange premium growth slowing - directly impacts fee income trajectory
- Return on Equity: Drops below 25% — Would indicate margin compression or capital allocation deterioration
- Dividend Payout Ratio: Exceeds 75% — Limits reinvestment capacity and signals FCF stress
Bull Case
Structural moat: ERIE earns fees on Exchange premiums regardless of loss ratios. 30% ROE with zero debt is rare in insurance sector.
Return on EquityDebt to EquityNet Margin
Dividend compounder: 5.46 DPS TTM (44% yield on book), 61% payout ratio sustainable given 577M FCF and zero debt service.
Dividends Paid Per ShareFree Cash FlowDividend Payout Ratio
Bear Case
Valuation stretched: P/E 22.4x vs median 13.8x and P/S 3.5x vs 1.2x median prices in continued growth that may decelerate.
P/E RatioP/S Ratio
Single-customer concentration: 100% revenue tied to Erie Insurance Exchange performance and premium growth decisions.
Total RevenueAsset Turnover
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
60%
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Forward Thesis
Fee-based model insulates margins as Erie Insurance Exchange grows premiums 8-12% annually
1-3yhigh
- Management fee tied to Exchange premium volume, not underwriting results
- 20.5% 3Y revenue CAGR indicates accelerating premium growth
- Zero balance sheet risk from insurance losses
Revenue 3Y CAGR 20.5% vs industry 9.1%Net margin 15.6% TTM stable despite hard marketDebt/Equity 0% - no leverage constraints
Valuation Context
Caveats
Public Strategies Rankings
See how Erie Indemnity Co ranks across different investment strategies.
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ERIE Fundamentals
Finance and Insurance → Insurance Carriers and Related Activities
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$14.81B | — | ||
$14.27B | — | ||
23 | — | ||
$4.15B | +9.1% | — | |
$12.39 | +15.9% | — | |
0% | — | ||
15.6% | +0.9% | — | |
$576.99M | +23.4% | — | |
0.30 | -1.0% | — | |
Beta 5Y (Monthly) | unknown | — |
ERIE Dividend History
106 dividends
2026
$1.462501/06/26$1.4625
2025
$5.460010/06/25$1.3650
07/08/25$1.3650
04/07/25$1.3650
01/07/25$1.3650
2024
$5.100010/07/24$1.2750
07/09/24$1.2750
04/08/24$1.2750
01/05/24$1.2750
2023
$4.760010/04/23$1.1900
07/05/23$1.1900
04/04/23$1.1900
01/04/23$1.1900
2022
$4.440010/04/22$1.1100
07/05/22$1.1100
04/04/22$1.1100
01/04/22$1.1100
2021
$4.140010/04/21$1.0350
07/02/21$1.0350
04/05/21$1.0350
01/04/21$1.0350
2020
$5.860012/18/20$2.0000
10/02/20$0.9650
07/06/20$0.9650
04/03/20$0.9650
01/06/20$0.9650
2019
$3.600010/04/19$0.9000
07/08/19$0.9000
04/05/19$0.9000
01/07/19$0.9000
2018
$3.360010/05/18$0.8400
07/05/18$0.8400
04/05/18$0.8400
01/05/18$0.8400
2017
$3.130010/04/17$0.7825
07/03/17$0.7825
04/03/17$0.7825
01/03/17$0.7825
2016
$2.190010/03/16$0.7300
07/01/16$0.7300
04/04/16$0.7300
2015
$3.454012/31/15$0.7300
10/01/15$0.6810
07/02/15$0.6810
04/02/15$0.6810
01/02/15$0.6810
2014
$2.540009/30/14$0.6350
07/01/14$0.6350
04/03/14$0.6350
01/03/14$0.6350
2013
$1.777510/02/13$0.5925
07/02/13$0.5925
04/03/13$0.5925
2012
$4.802512/05/12$2.5925
10/03/12$0.5525
07/03/12$0.5525
04/03/12$0.5525
01/03/12$0.5525
2011
$2.060010/04/11$0.5150
07/01/11$0.5150
04/04/11$0.5150
01/03/11$0.5150
2010
$1.440010/01/10$0.4800
07/01/10$0.4800
04/01/10$0.4800
2009
$1.830012/31/09$0.4800
10/01/09$0.4500
07/01/09$0.4500
04/01/09$0.4500
2008
$2.210012/31/08$0.4500
10/01/08$0.4400
07/01/08$0.4400
04/02/08$0.4400
01/02/08$0.4400
2007
$1.600010/02/07$0.4000
07/03/07$0.4000
04/03/07$0.4000
01/03/07$0.4000
2006
$1.440010/03/06$0.3600
07/03/06$0.3600
04/03/06$0.3600
01/03/06$0.3600
2005
$1.300010/03/05$0.3250
07/01/05$0.3250
04/04/05$0.3250
01/04/05$0.3250
2004
$0.645010/01/04$0.2150
07/01/04$0.2150
04/01/04$0.2150
2003
$0.975012/31/03$0.2150
10/02/03$0.1900
07/01/03$0.1900
04/02/03$0.1900
01/02/03$0.1900
2002
$0.680010/02/02$0.1700
07/02/02$0.1700
04/03/02$0.1700
01/02/02$0.1700
2001
$0.610010/03/01$0.1525
07/03/01$0.1525
04/04/01$0.1525
01/03/01$0.1525
2000
$0.540010/04/00$0.1350
07/03/00$0.1350
04/04/00$0.1350
01/04/00$0.1350
ERIE Stock Splits
No stock splits
ERIE SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
10/30/25 | 09/30/25 | 10-Q | |
08/07/25 | 06/30/25 | 10-Q | |
04/24/25 | 03/31/25 | 10-Q | |
02/27/25 | 12/31/24 | 10-K | |
10/31/24 | 09/30/24 | 10-Q | |
07/25/24 | 06/30/24 | 10-Q | |
04/25/24 | 03/31/24 | 10-Q | |
02/26/24 | 12/31/23 | 10-K | |
10/26/23 | 09/30/23 | 10-Q | |
07/27/23 | 06/30/23 | 10-Q | |
04/27/23 | 03/31/23 | 10-Q | |
03/01/23 | 12/31/22 | 10-K | |
10/27/22 | 09/30/22 | 10-Q | |
07/28/22 | 06/30/22 | 10-Q | |
04/28/22 | 03/31/22 | 10-Q | |
02/24/22 | 12/31/21 | 10-K | |
10/28/21 | 09/30/21 | 10-Q | |
07/29/21 | 06/30/21 | 10-Q | |
04/29/21 | 03/31/21 | 10-Q | |
02/25/21 | 12/31/20 | 10-K | |
10/29/20 | 09/30/20 | 10-Q | |
07/31/20 | 06/30/20 | 10-Q | |
05/07/20 | 03/31/20 | 10-Q | |
02/27/20 | 12/31/19 | 10-K | |
10/25/19 | 09/30/19 | 10-Q | |
07/25/19 | 06/30/19 | 10-Q | |
05/02/19 | 03/31/19 | 10-Q | |
02/21/19 | 12/31/18 | 10-K | |
10/25/18 | 09/30/18 | 10-Q | |
07/26/18 | 06/30/18 | 10-Q | |
04/26/18 | 03/31/18 | 10-Q | |
02/22/18 | 12/31/17 | 10-K | |
10/26/17 | 09/30/17 | 10-Q | |
07/27/17 | 06/30/17 | 10-Q | |
05/01/17 | 03/31/17 | 10-Q | |
02/23/17 | 12/31/16 | 10-K | |
10/27/16 | 09/30/16 | 10-Q | |
07/28/16 | 06/30/16 | 10-Q | |
04/28/16 | 03/31/16 | 10-Q | |
02/25/16 | 12/31/15 | 10-K | |
10/29/15 | 09/30/15 | 10-Q | |
07/30/15 | 06/30/15 | 10-Q | |
04/30/15 | 03/31/15 | 10-Q | |
02/26/15 | 12/31/14 | 10-K | |
10/30/14 | 09/30/14 | 10-Q | |
07/31/14 | 06/30/14 | 10-Q | |
05/01/14 | 03/31/14 | 10-Q | |
02/27/14 | 12/31/13 | 10-K | |
10/31/13 | 09/30/13 | 10-Q | |
08/01/13 | 06/30/13 | 10-Q | |
04/29/13 | 03/31/13 | 10-Q | |
02/26/13 | 12/31/12 | 10-K | |
11/01/12 | 09/30/12 | 10-Q | |
08/02/12 | 06/30/12 | 10-Q | |
05/03/12 | 03/31/12 | 10-Q | |
02/27/12 | 12/31/11 | 10-K | |
11/03/11 | 09/30/11 | 10-Q | |
08/02/11 | 06/30/11 | 10-Q | |
05/05/11 | 03/31/11 | 10-Q | |
02/24/11 | 12/31/10 | 10-K | |
11/04/10 | 09/30/10 | 10-Q | |
07/29/10 | 06/30/10 | 10-Q | |
05/06/10 | 03/31/10 | 10-Q | |
02/25/10 | 12/31/09 | 10-K | |
10/29/09 | 09/30/09 | 10-Q | |
08/05/09 | 06/30/09 | 10-Q | |
04/30/09 | 03/31/09 | 10-Q | |
02/26/09 | 12/31/08 | 10-K | |
11/05/08 | 09/30/08 | 10-Q | |
07/30/08 | 06/30/08 | 10-Q | |
04/30/08 | 03/31/08 | 10-Q | |
02/27/08 | 12/31/07 | 10-K | |
10/31/07 | 09/30/07 | 10-Q | |
08/01/07 | 06/30/07 | 10-Q | |
05/02/07 | 03/31/07 | 10-Q | |
02/26/07 | 12/31/06 | 10-K | |
11/01/06 | 09/30/06 | 10-Q | |
08/02/06 | 06/30/06 | 10-Q | |
05/03/06 | 03/31/06 | 10-Q | |
02/22/06 | 12/31/05 | 10-K | |
11/02/05 | 09/30/05 | 10-Q | |
08/03/05 | 06/30/05 | 10-Q | |
04/25/05 | 03/31/05 | 10-Q | |
02/24/05 | 12/31/04 | 10-K | |
10/27/04 | 09/30/04 | 10-Q | |
07/28/04 | 06/30/04 | 10-Q | |
04/22/04 | 03/31/04 | 10-Q | |
03/08/04 | 12/31/03 | 10-K | |
10/29/03 | 09/30/03 | 10-Q | |
07/24/03 | 06/30/03 | 10-Q | |
04/24/03 | 03/31/03 | 10-Q | |
03/27/03 | 12/31/02 | 10-K | |
11/06/02 | 09/30/02 | 10-Q | |
07/24/02 | 06/30/02 | 10-Q | |
04/22/02 | 03/31/02 | 10-Q | |
03/12/02 | 12/31/01 | 10-K | |
10/24/01 | 09/30/01 | 10-Q | |
07/19/01 | 06/30/01 | 10-Q | |
04/19/01 | 03/31/01 | 10-Q | |
03/23/01 | 12/31/00 | 10-K | |
10/20/00 | 09/30/00 | 10-Q | |
07/19/00 | 06/30/00 | 10-Q | |
04/19/00 | 03/31/00 | 10-Q |