Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Erie Indemnity CoFRA:EI2 -3.70%63 Cyclically Adjusted PB Ratio is 7.89 as of Aug. 19, 2026, which is 24% below its 10-year median of 10.36. GuruFocus rates FRA:EI2 with a GF Score™ of 63/100 and a GF Value™ of €323.42 (Significantly Undervalued). The stock has 1 warning sign investors should review. Among 414 Insurance companies, Erie Indemnity Co ranks worse than 96.14% on this metric.
The historical rank and industry rank for Erie Indemnity Co's Cyclically Adjusted PB Ratio or its related term are showing as below:
FRA:EI2'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 5.93 Med: 10.36 Max: 21.74
Current: 8.29
During the past years, Erie Indemnity Co's highest Cyclically Adjusted PB Ratio was 21.74. The lowest was 5.93. And the median was 10.36.
FRA:EI2's Cyclically Adjusted PB Ratio is ranked worse than 96.14% of 414
companies
in the Insurance industry
Industry Median: 1.4
vs FRA:EI2: 8.29
The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.
Erie Indemnity Co's adjusted book value per share data for the three months ended in Jun. 2026 was €40.953. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is €26.36 for the trailing ten years ended in Jun. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
Erie Indemnity Co (FRA:EI2) Cyclically Adjusted PB Ratio Explanation
Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.
If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.
Erie Indemnity Co Cyclically Adjusted PB Ratio Related Terms
Erie Indemnity Co Cyclically Adjusted PB Ratio Historical Data
* Premium members only.
The historical data trend for Erie Indemnity Co's Cyclically Adjusted PB Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Erie Indemnity Co Cyclically Adjusted PB Ratio Chart
FRA:EI2 vs NP, ARX, CRVL: Cyclically Adjusted PB Ratio Comparison
For the Insurance Brokers subindustry, Erie Indemnity Co's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Erie Indemnity Co Cyclically Adjusted PB Ratio vs Insurance Industry
For the Insurance industry and Financial Services sector, Erie Indemnity Co's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where Erie Indemnity Co's Cyclically Adjusted PB Ratio falls into.
Erie Indemnity Co Cyclically Adjusted PB Ratio Calculation
Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.
The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.
Erie Indemnity Co's Cyclically Adjusted PB Ratio for today is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.
What does a Cyclically Adjusted PB Ratio of 7.89 mean?
Erie Indemnity Co (FRA:EI2) has a Cyclically Adjusted PB Ratio of 7.89 as of Aug. 19, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Erie Indemnity Co and its competitors. This is 24% below median its historical median of 10.36. Over the past decade, Erie Indemnity Co's Cyclically Adjusted PB Ratio has ranged from 5.93 to 21.74. According to the industry distribution chart, Erie Indemnity Co ranks #398 out of 414 companies in the Insurance industry, placing it in the top 96.1%.
Is Erie Indemnity Co's Cyclically Adjusted PB Ratio too high?
Erie Indemnity Co's current Cyclically Adjusted PB Ratio of 7.89 is 24% below median its 10-year median of 10.36. Over the past 10 years, this metric has ranged from a low of 5.93 to a high of 21.74. The Insurance industry median Cyclically Adjusted PB Ratio is 1.40. Erie Indemnity Co's value of 7.89 is 463.6% above this industry median. Based on the distribution chart, Erie Indemnity Co ranks #398 out of 414 companies in the Insurance industry, which is in the bottom quartile relative to peers. Overall, Erie Indemnity Co has a GF Score™ of 63/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Erie Indemnity Co's Cyclically Adjusted PB Ratio compare to NP and ARX?
According to the Insurance industry distribution chart, Erie Indemnity Co ranks #398 out of 414 companies for Cyclically Adjusted PB Ratio. This places Erie Indemnity Co in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.40. Erie Indemnity Co's value of 7.89 is 463.6% above this benchmark. Historically, Erie Indemnity Co's own Cyclically Adjusted PB Ratio has ranged from 5.93 to 21.74 over the past decade. While the company's 10-year median is 10.36 vs. the industry median of 1.40, Erie Indemnity Co has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for an Insurance company?
The median Cyclically Adjusted PB Ratio among Insurance companies is 1.40, based on 414 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Erie Indemnity Co's current Cyclically Adjusted PB Ratio of 7.89 is 463.6% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Erie Indemnity Co and its competitors. For the Insurance industry, the median Cyclically Adjusted PB Ratio is 1.40 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Erie Indemnity Co's current Cyclically Adjusted PB Ratio is 7.89, which is 24% below median its own 10-year median of 10.36. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Erie Indemnity Co stock overvalued right now?
Based on GuruFocus' analysis, Erie Indemnity Co (FRA:EI2) is currently considered Significantly Undervalued. The stock's GF Value™ is €323.42, compared to a current price of €208.00 — trading 35.7% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 7.89, which is 24% below median its 10-year median of 10.36 and 463.6% above the Insurance industry median of 1.40. Erie Indemnity Co's overall GF Score™ is 63/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For Erie Indemnity Co (FRA:EI2), the current Cyclically Adjusted PB Ratio is 7.89 as of Aug. 19, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Erie Indemnity Co (FRA:EI2) Overvalued in 2026?
Based on GuruFocus' analysis, Erie Indemnity Co stock appears to be undervalued.
The current stock price of €208.00 is trading 35.7% below its estimated GF Value™ of €323.42.
GuruFocus considers Erie Indemnity Co to be Significantly Undervalued.
Key valuation signals for FRA:EI2:
Cyclically Adjusted PB Ratio: 7.89 (24% below median its 10-year median of 10.36)
GF Value™: €323.42 vs. price of €208.00 (35.7% below fair value)
Industry Position: 463.6% above the Insurance median (#398 of 414)
No single metric tells the full story. See the FRA:EI2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Erie Indemnity Co mainly performs services on behalf of the Erie Insurance Exchange relating to sales, underwriting, and issuance of policies. Erie Indemnity's results are tied to the performance of the Insurance Exchange, which principally provides automobile and homeowners insurance for individuals, along with multiperil, workers' compensation, and commercial automobile insurance for its commercial clients. The company operates exclusively in the United States.
63GF Score
Get the complete analysis for FRA:EI2
Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:EI2 has been successfully added to your 
