Erie Indemnity Co. (ERIE) intrinsic value & 10-year financials
Erie Indemnity Co. (ERIE) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 10.9% a year to $4.1B, with an average return on invested capital of 28.3%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $243.71
- Revenue (FY2025)
- $4.1B
- Revenue growth (10-yr CAGR)
- 10.9%
- ROIC (10-yr avg)
- 28.3%
- Free cash flow (FY2025)
- $571.0M
ERIE 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $4.1B | $559.3M | — | $571.0M | 17.6% | 26.4% |
| FY2024 | $3.8B | $600.3M | — | $486.4M | 17.8% | 29.4% |
| FY2023 | $3.3B | $446.1M | — | $288.6M | 15.9% | 31.6% |
| FY2022 | $2.8B | $298.6M | — | $298.9M | 13.2% | 23.3% |
| FY2021 | $2.6B | $297.9M | — | $254.0M | 12.1% | 21.2% |
| FY2020 | $2.5B | $293.3M | — | $287.1M | 13.3% | 26.7% |
| FY2019 | $2.5B | $316.8M | — | $262.5M | 14.4% | 33.5% |
| FY2018 | $2.4B | $288.2M | — | $207.3M | 14.5% | 35.1% |
| FY2017 | $1.7B | $197.0M | — | $168.2M | 17.0% | 26.3% |
| FY2016 | $1.6B | $210.4M | — | $229.1M | 18.3% | 29.4% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Erie Indemnity is a consistent compounder, expanding top-line revenue at 10.9% annually over the past decade.
Erie Indemnity has earned high returns on invested capital, averaging 28.4% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Erie Indemnity capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Erie Indemnity is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment.