ERIE
ERIE INDEMNITY CO
Next earnings Aug 5, 2026 · consensus $3.44 EPS, $1.11B rev
Last earnings -0.4% on 2026-04-23
$259.25
▲ +9.15%$259.25▼ -22.37%
over 1Y
L $207.24H $363.37
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+9.2%
1W+12.7%
1M+24.9%
3M+4.5%
YTD-5.7%
1Y-22.4%
Hold
Conviction
Horizon
Long (>12mo)
Street · 8 analysts
Buy
Capital-light, debt-free fee machine with 24.5% ROE, but single-customer dependence and a dip in earnings argue for hold, not chase.
Revenue (FY2025) $4.07B · FY2025
Erie Indemnity is the attorney-in-fact and management company for the Erie Insurance Exchange, earning a management fee of up to 25% of the Exchange's direct and affiliated assumed premiums. It is an exceptionally high-quality, capital-light business: FY2025 revenue grew 7.2% to $4.07B, operating income rose 6.0% to $717M (17.6% operating margin), return on equity was 24.5%, and the balance sheet carries no long-term debt with liabilities/equity of just 0.47x. Operating cash flow grew 12.3% to $687M and funded a 7.1% dividend increase ($254M paid). The multi-year revenue ramp is strong, from $2.63B (FY2021) to $4.07B (FY2025).
The one blemish in an otherwise pristine year is the bottom line: net income fell 6.8% to $559M even as revenue and operating income grew, breaking the steep upward trajectory that ran from $298M (FY2021) to $600M (FY2024). The divergence between rising operating income and falling net income points to below-the-line items (likely investment or tax related), and it tempers the growth narrative.
Is ERIE a buy? The one-page verdict, explained →
The options angle
model · matches our verdictCovered call~90d expiry
- Long 100 shares @ ~259.25
- Short call 270 @ ~19.37 est
debit $23,988max +$3,012max −$23,987BE 239.88
HOLD means own it, don't chase it — harvesting premium against the position matches the verdict.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $2.63B | $2.84B | $3.27B | $3.80B | $4.07B |
| Gross profit | — | — | — | — | — |
| Operating income | $318M | $376M | $520M | $676M | $717M |
| Net income | $298M | $299M | $446M | $600M | $559M |
| Diluted EPS | — | — | — | — | — |
| Net margin | 11.3% | 10.5% | 13.6% | 15.8% | 13.8% |
10-year statements — income, cash flow, balance sheet & CSV export →
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$13.2B
EV / EBITDA16.8
EV / Sales3.2
EV / FCF23.1
P / FCF23.7
PEG (trailing)—
Earnings yield4.1%
FCF yield4.2%
Quality & risk
ROIC (est.)24.8%
Free cash flow$571M
Total debt$0.00
Net cash$346M
Altman Z-Score11.04 safe
Piotroski F-Score4/7
Capital returns
Buyback yield0.0%
Dividend yield (est.)1.9%
Shareholder yield1.9%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsSome governance/structural items recently, but no outright red flags.
Recent filings
all on EDGAR ↗4Period ending 2026-06-302026-07-01open ↗4Period ending 2026-06-302026-07-01open ↗4Period ending 2026-06-302026-07-01open ↗4Period ending 2026-06-302026-07-01open ↗4Period ending 2026-06-052026-06-08open ↗4Period ending 2026-06-052026-06-08open ↗4Period ending 2026-06-052026-06-08open ↗4Period ending 2026-06-052026-06-08open ↗4/APeriod ending 2026-06-022026-06-05open ↗4Period ending 2026-06-022026-06-04open ↗4Period ending 2026-05-312026-06-01open ↗4Period ending 2026-05-312026-06-01open ↗
Frequently asked
- Is ERIE INDEMNITY CO (ERIE) a buy?
- ERIE currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Capital-light, debt-free fee machine with 24.5% ROE, but single-customer dependence and a dip in earnings argue for hold, not chase.
- What is ERIE INDEMNITY CO's quality score?
- ERIE scores 69.15401922567804/100 (grade B-) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0000922621, latest 10-Q filed 2026-04-23) · EODHD · Proprietary analysis · as of 6/21/2026, 8:48:58 PM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 21, 2026, 4:48 PM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.