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Last update at 2024-12-19T18:30:00Z
Spruce Point goes short Erie Indemnity, sees up to 55% downside
Fri 18 Oct 24, 01:48 PMBuy 4 Low-Beta Stocks & Forget About Volatility: ERIE, SFM, AVO, ABL
Thu 19 Sep 24, 06:45 PMErie Indemnity and Dollar Tree have been highlighted as Zacks Bull and Bear of the Day
Wed 18 Sep 24, 01:03 PMBull of the Day: Erie Indemnity (ERIE)
Wed 18 Sep 24, 09:00 AMErie Indemnity (ERIE) Is Up 2.90% in One Week: What You Should Know
Mon 16 Sep 24, 04:00 PMZacks Investment Ideas feature highlights: Erie Indemnity, Duolingo and Maplebear
Thu 12 Sep 24, 09:00 AM3 Powerful Examples of the Zacks Rank: ERIE, DUOL, CART
Wed 11 Sep 24, 02:15 PMBuy These 5 Nasdaq Stocks With Double-Digit Returns in the Past Month
Tue 10 Sep 24, 12:27 PM| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Income before tax | 376.45M | 376.40M | 368.51M | 396.70M | 371.32M |
| Minority interest | - | - | - | - | - |
| Net income | 298.57M | 297.86M | 293.30M | 316.82M | 288.22M |
| Selling general administrative | 58.32M | 58.29M | - | - | 1.72M |
| Selling and marketing expenses | - | - | - | - | - |
| Gross profit | 2840.76M | 2701.31M | 2569.36M | 2516.61M | 2408.83M |
| Reconciled depreciation | 51.72M | - | - | - | - |
| Ebit | 378.46M | 380.54M | 368.51M | 396.70M | 371.32M |
| Ebitda | 430.18M | -286.12100M | -266.71700M | -212.93200M | 373.78M |
| Depreciation and amortization | 51.72M | - | - | - | - |
| Non operating income net other | 1.61M | 62.44M | 31.09M | 40.22M | 29.44M |
| Operating income | 378.46M | -286.12100M | -266.71700M | -212.93200M | 373.78M |
| Other operating expenses | 2464.30M | 2324.91M | 2200.84M | 2119.90M | 2037.51M |
| Interest expense | 2.01M | 4.13M | 0.73M | 0.86M | 2.46M |
| Tax provision | 77.88M | 78.54M | 75.21M | 79.88M | 83.10M |
| Interest income | - | - | - | 39.31M | 24.92M |
| Net interest income | -2.00900M | -4.13200M | -0.73100M | -0.85600M | -2.46000M |
| Extraordinary items | - | - | - | - | - |
| Non recurring | - | - | - | - | - |
| Other items | - | - | - | - | - |
| Income tax expense | 77.88M | 78.54M | 75.21M | 79.88M | 83.10M |
| Total revenue | 2840.76M | 2701.31M | 2569.36M | 2516.61M | 2408.83M |
| Total operating expenses | -2462.29500M | -2987.43000M | -2836.07300M | -2729.53700M | -2035.05000M |
| Cost of revenue | 2463.91M | 2609.93M | 2198.33M | 2119.96M | 2037.87M |
| Total other income expense net | -2.00900M | 662.52M | 635.23M | 609.64M | 609.01M |
| Discontinued operations | - | - | - | - | - |
| Net income from continuing ops | 298.57M | 297.86M | 293.30M | 316.82M | 288.22M |
| Net income applicable to common shares | 298.57M | 297.86M | 293.30M | 316.82M | 288.22M |
| Preferred stock and other adjustments | - | - | - | - | - |
| Breakdown | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | 2510.61M | 2239.46M | 2242.06M | 2117.12M | 2016.24M |
| Intangible assets | - | - | - | - | - |
| Earning assets | - | - | - | - | - |
| Other current assets | -860.86800M | 87.50M | 62.51M | 58.73M | 521.86M |
| Total liab | 847.77M | 791.05M | 899.58M | 929.07M | 882.99M |
| Total stockholder equity | 1662.84M | 1448.41M | 1342.48M | 1188.05M | 1133.25M |
| Deferred long term liab | - | 27.80M | 14.57M | 14.90M | 13.73M |
| Other current liab | -41.21000M | -502.49000M | -446.09600M | -451.99200M | -435.83700M |
| Common stock | 2.17M | 2.17M | 2.17M | 2.17M | 2.17M |
| Capital stock | 2.17M | 2.17M | 2.17M | 2.17M | 2.17M |
| Retained earnings | 2803.69M | 2583.26M | 2495.19M | 2393.62M | 2377.56M |
| Other liab | - | 125.94M | 176.98M | 207.57M | 188.77M |
| Good will | - | - | - | - | - |
| Other assets | 38.64M | 167.07M | 132.21M | 153.22M | 131.60M |
| Cash | 144.06M | 142.09M | 183.70M | 161.24M | 336.74M |
| Cash and equivalents | - | - | - | - | - |
| Total current liabilities | 708.98M | 502.49M | 446.10M | 451.99M | 435.84M |
| Current deferred revenue | 41.21M | 36.55M | 34.94M | 36.92M | 35.94M |
| Net debt | -144.05500M | -142.09000M | -89.87000M | -65.37600M | -238.91800M |
| Short term debt | 533.36M | 300.03M | 2.10M | 2.03M | 1.98M |
| Short long term debt | - | 0.00000M | 2.10M | 2.03M | 1.98M |
| Short long term debt total | - | - | 93.83M | 95.86M | 97.82M |
| Other stockholder equity | -1152.69900M | -1129.60900M | -1129.59400M | -1129.60300M | -1129.60700M |
| Property plant equipment | - | 413.87M | 374.80M | 265.34M | 243.78M |
| Total current assets | 930.19M | 691.29M | 701.22M | 676.24M | 838.65M |
| Long term investments | 1045.49M | 930.93M | 966.37M | 972.99M | 724.67M |
| Net tangible assets | - | 1448.41M | 1342.48M | 1188.05M | 1133.25M |
| Short term investments | 82.02M | 24.27M | 38.40M | 17.70M | 32.81M |
| Net receivables | 634.80M | 524.94M | 479.12M | 497.30M | 469.10M |
| Long term debt | - | - | 91.73M | 93.83M | 95.84M |
| Inventory | 0.00000M | -87.50200M | -62.50900M | -58.72600M | -521.85500M |
| Accounts payable | 175.62M | 465.94M | 409.06M | 413.04M | 397.92M |
| Total permanent equity | - | - | - | - | - |
| Noncontrolling interest in consolidated entity | - | - | - | - | - |
| Temporary equity redeemable noncontrolling interests | - | - | - | - | - |
| Accumulated other comprehensive income | 9.68M | -7.41400M | -25.28800M | -78.14300M | -116.86800M |
| Additional paid in capital | - | - | - | - | - |
| Common stock total equity | - | 2.17M | 2.17M | 2.17M | 2.17M |
| Preferred stock total equity | - | - | - | - | - |
| Retained earnings total equity | - | 2583.26M | 2495.19M | 2393.62M | 2377.56M |
| Treasury stock | - | - | - | - | -1158.91000M |
| Accumulated amortization | - | - | - | - | - |
| Non currrent assets other | 146.57M | -14.07500M | -1408.63000M | -1287.66700M | -1045.98800M |
| Deferred long term asset charges | - | - | - | - | - |
| Non current assets total | 1541.78M | 1381.10M | 1408.63M | 1287.67M | 1045.99M |
| Capital lease obligations | - | - | - | - | - |
| Long term debt total | - | - | 91.73M | 93.83M | 95.84M |
| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Investments | -41.51000M | -36.69000M | -187.71200M | -23.37200M | -31.11500M |
| Change to liabilities | 20.81M | -7.99900M | -12.88500M | -0.98100M | 14.25M |
| Total cashflows from investing activities | -106.92200M | -185.49000M | -243.22500M | -124.63400M | -81.39800M |
| Net borrowings | -94.07000M | -2.04100M | -1.96700M | -1.92000M | 24.98M |
| Total cash from financing activities | -300.84200M | -194.84200M | -274.86900M | -169.57100M | -131.49100M |
| Change to operating activities | -9.64600M | 78.44M | 32.49M | 29.73M | -55.97500M |
| Net income | 298.57M | 297.86M | 293.30M | 316.82M | 288.22M |
| Change in cash | -41.61200M | 22.46M | -175.49900M | 70.32M | 50.70M |
| Begin period cash flow | 183.70M | 161.24M | 336.74M | 266.42M | 215.72M |
| End period cash flow | 142.09M | 183.70M | 161.24M | 336.74M | 266.42M |
| Total cash from operating activities | 366.15M | 297.86M | 342.60M | 364.53M | 288.22M |
| Issuance of capital stock | - | - | - | - | - |
| Depreciation | 51.72M | 49.10M | 34.30M | 30.77M | 13.37M |
| Other cashflows from investing activities | 1.79M | - | 0.01M | 0.78M | 6.01M |
| Dividends paid | -206.77200M | -192.80100M | -272.90200M | -167.65100M | 156.47M |
| Change to inventory | - | - | - | - | - |
| Change to account receivables | -45.81400M | 15.51M | -26.54800M | -19.50500M | -30.80400M |
| Sale purchase of stock | - | - | - | - | - |
| Other cashflows from financing activities | 55.00M | -185.49000M | -243.22500M | -124.63400M | 24.98M |
| Change to netincome | -263.52400M | -235.29400M | -253.54500M | -234.19700M | -200.86300M |
| Capital expenditures | 67.20M | 148.80M | 55.53M | 102.04M | 56.30M |
| Change receivables | - | - | - | - | - |
| Cash flows other operating | 629.68M | 638.09M | 596.14M | 598.72M | 464.45M |
| Exchange rate changes | - | - | - | - | - |
| Cash and cash equivalents changes | -41.61200M | 22.46M | -175.49900M | 70.32M | 50.70M |
| Change in working capital | -34.64600M | 5.90M | -755.68400M | -318.18700M | 329.90M |
| Stock based compensation | -1.46300M | - | - | - | - |
| Other non cash items | 42.50M | -297.86000M | 462.38M | 1.37M | -288.22400M |
| Free cash flow | 298.95M | -148.80000M | -55.52800M | -102.03900M | 231.93M |
Sector: Financial Services Industry: Insurance Brokers
| Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | |
|---|---|---|---|---|---|---|---|---|
| ERIE Erie Indemnity Company |
5.81 1.44% | 408.83 | 40.81 | - | 6.10 | 11.99 | 5.98 | |
| MMC Marsh & McLennan Companies Inc |
2.01 0.96% | 211.90 | 27.11 | 21.60 | 4.12 | 8.01 | 4.69 | 17.72 |
| AON Aon PLC |
2.83 0.80% | 355.41 | 30.99 | 21.14 | 5.23 | 12.74 | 6.45 | 21.84 |
| AJG Arthur J Gallagher & Co |
2.72 0.98% | 281.21 | 54.05 | 25.71 | 5.84 | 5.26 | 6.26 | 27.42 |
| WTW Willis Towers Watson PLC |
4.15 1.35% | 311.70 | 25.57 | 16.03 | 2.81 | 2.80 | 3.28 | 15.43 |
Erie Indemnity Company operates as a managing attorney-in-fact for the subscribers at the Erie Insurance Exchange in the United States. It provides issuance and renewal services; sales related services, including agent compensation, and sales and advertising support services; underwriting services comprise underwriting and policy processing; and other services consist of customer services and administrative support services, as well as information technology services. The company was incorporated in 1925 and is based in Erie, Pennsylvania.
100 Erie Insurance Place, Erie, PA, United States, 16530-0001
| Name | Title | Year Born |
|---|---|---|
| Mr. Timothy Gerard NeCastro C.I.C., CPA | Pres & CEO | 1960 |
| Mr. Gregory John Gutting CPA, C.P.C.U. | Exec. VP & CFO | 1963 |
| Mr. Douglas Edward Smith C.P.C.U., FCAS, MAAA | Exec. VP of Sales & Products | 1974 |
| Ms. Lorianne Feltz-Upperman C.P.C.U. | Exec. VP of Claims & Customer Service | 1970 |
| Mr. Bill Matrogran | VP of Construction Management & Operations | NA |
| Mr. Ronald Steven Habursky | Sr. VP & Chief Investment Officer | NA |
| Mr. Parthasarathy Srinivasa | Exec. VP & Chief Information Officer | 1972 |
| Mr. Scott W. Beilharz | VP of Capital Management & Investor Relations | NA |
| Mr. Brian William Bolash Esq. | Exec. VP, Corp. Sec. & Gen. Counsel | NA |
| Mr. Charles Michael Fletcher | Sr. VP of Sales & Marketing | NA |
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