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Erie Indemnity CoERIE +0.85%63 Owner Earnings per Share (TTM) is 9.01 as of Jun. 2026, which is 78% below its 10-year median of 40.42. GuruFocus rates ERIE with a GF Score™ of 63/100 and a GF Value™ of $363.40 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 343 Insurance companies, Erie Indemnity Co ranks worse than 87.17% on this metric.
"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."
Erie Indemnity Co's Owner Earnings per Share (TTM) ended in Jun. 2026 was $9.01. It's Price-to-Owner-Earnings ratio for today is 29.4.
The historical rank and industry rank for Erie Indemnity Co's Owner Earnings per Share (TTM) or its related term are showing as below:
ERIE'
s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 24.81 Med: 40.42 Max: 81.46
Current: 29.39
Assumption: Companies usually do not report maintenance capital expenditures and growth capital expenditures separately. Here we use estimated numbers and average them over 5 years. The method to estimate maintenance capital expenditures can be found in above part 4.
Note: GuruFocus' Change In Working Capital is provided by Morningstar. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement from original financial report. And it includes non-current parts of assets and liabilities.
Erie Indemnity Co Owner Earnings per Share (TTM) Related Terms
Erie Indemnity Co Owner Earnings per Share (TTM) Historical Data
* Premium members only.
The historical data trend for Erie Indemnity Co's Owner Earnings per Share (TTM) 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 Owner Earnings per Share (TTM) Chart
ERIE vs NP, ARX, CRVL: Owner Earnings per Share (TTM) Comparison
For the Insurance Brokers subindustry, Erie Indemnity Co's Price-to-Owner-Earnings, along with its competitors' market caps and Price-to-Owner-Earnings 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 Price-to-Owner-Earnings vs Insurance Industry
For the Insurance industry and Financial Services sector, Erie Indemnity Co's Price-to-Owner-Earnings distribution charts can be found below:
* The bar in red indicates where Erie Indemnity Co's Price-to-Owner-Earnings falls into.
"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume. (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."
3. Other non-cash charges usually include "Stock Based Compensation" and "Change In Deferred Tax":
However, to be conservative, GuruFocus will not add Stock Based Compensation back to net income.
Erie Indemnity Co's Change In Deferred Tax for the trailing twelve months (TTM) ended in Jun. 2026 was $0 Mil.
4. Average maintenance capital expenditure over a business/industry cycle: 5-Year Average Maintenance Capital Expenditure = $106 Mil
It is usually best to take a long-term average of maintenance capital expenditure. Ideally this would be as long as 10 years and include at least one economic downturn. However, since many companies do not have as long as 10-year history, here GuruFocus uses the latest 5 years data to do the calculation. To smooth out unusual years but reflect recent developments, we take an average of the 5 year maintenance capital expenditure.
The following shows how to get maintenance capital expenditure.
First, calculate the revenue change regarding to the previous quarter. If the revenue decreased from the previous quarter, then the Maintenance Capital Expenditure = Capital Expenditure (positive).
Second, if the revenue increased from the previous quarter, then calculate the percentage of Net PPE as of corresponding Revenue.
Growth Capital Expenditure = Percentage of Property, Plant and Equipment as of corresponding Revenue * Revenue Increase
Third, calculate Capital Expenditure (positive) - Growth Capital Expenditure.
If [Capital Expenditure (positive) - Growth Capital Expenditure] was negative, then the Maintenance Capital Expenditure = Capital Expenditure (positive).
If [Capital Expenditure (positive) - Growth Capital Expenditure] was positive, then the Maintenance Capital Expenditure = Capital Expenditure (positive) - Growth Capital Expenditure.
Fourth, get the average of the 5 years maintenance capital expenditure.
Erie Indemnity Co's 5-Year Average Maintenance Capital Expenditure = $106 Mil
5. "Change In Working Capital" is from cashflow statement. Erie Indemnity Co's Change In Working Capital for the trailing twelve months (TTM) ended in Jun. 2026 was $0 Mil.
Note: GuruFocus' Change in Working Capital is provided by Morningstar. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement from original financial report. And sometimes it includes non-current parts of assets and liabilities.
* 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.
What does a Owner Earnings per Share (TTM) of 9.01 mean?
Erie Indemnity Co (ERIE) has a Owner Earnings per Share (TTM) of 9.01 as of Jun. 2026. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on Erie Indemnity Co. This is 78% below median its historical median of 40.42. Over the past decade, Erie Indemnity Co's Owner Earnings per Share (TTM) has ranged from 24.81 to 81.46. According to the industry distribution chart, Erie Indemnity Co ranks #299 out of 343 companies in the Insurance industry, placing it in the top 87.2%.
Is Erie Indemnity Co's Owner Earnings per Share (TTM) too high?
Erie Indemnity Co's current Owner Earnings per Share (TTM) of 9.01 is 78% below median its 10-year median of 40.42. Over the past 10 years, this metric has ranged from a low of 24.81 to a high of 81.46. The Insurance industry median Owner Earnings per Share (TTM) is 7.64. Erie Indemnity Co's value of 9.01 is 17.9% above this industry median. Based on the distribution chart, Erie Indemnity Co ranks #299 out of 343 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 Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Erie Indemnity Co's Owner Earnings per Share (TTM) compare to NP and ARX?
According to the Insurance industry distribution chart, Erie Indemnity Co ranks #299 out of 343 companies for Owner Earnings per Share (TTM). This places Erie Indemnity Co in the lower half of its industry. The industry median Owner Earnings per Share (TTM) is 7.64. Erie Indemnity Co's value of 9.01 is 17.9% above this benchmark. Historically, Erie Indemnity Co's own Owner Earnings per Share (TTM) has ranged from 24.81 to 81.46 over the past decade. While the company's 10-year median is 40.42 vs. the industry median of 7.64, 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 Owner Earnings per Share (TTM) for an Insurance company?
The median Owner Earnings per Share (TTM) among Insurance companies is 7.64, based on 343 companies in the industry. Companies in the top quartile (top 25%) have a Owner Earnings per Share (TTM) significantly above this median, while those in the bottom quartile fall well below. However, Owner Earnings per Share (TTM) should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Erie Indemnity Co's current Owner Earnings per Share (TTM) of 9.01 is 17.9% 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 Owner Earnings per Share (TTM) mean?
A high Owner Earnings per Share (TTM) can signal that a stock is expensive relative to its fundamentals. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on Erie Indemnity Co. For the Insurance industry, the median Owner Earnings per Share (TTM) is 7.64 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Erie Indemnity Co's current Owner Earnings per Share (TTM) is 9.01, which is 78% below median its own 10-year median of 40.42. 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 (ERIE) is currently considered Modestly Undervalued. The stock's GF Value™ is $363.40, compared to a current price of $264.85 — trading 27.1% below its estimated fair value. The current Owner Earnings per Share (TTM) is 9.01, which is 78% below median its 10-year median of 40.42 and 17.9% above the Insurance industry median of 7.64. 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 Owner Earnings per Share (TTM) calculated?
Owner Earnings per Share (TTM) is calculated from a company's financial statements. For Erie Indemnity Co (ERIE), the current Owner Earnings per Share (TTM) is 9.01 as of Jun. 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 (ERIE) Overvalued in 2026?
Based on GuruFocus' analysis, Erie Indemnity Co stock appears to be undervalued.
The current stock price of $264.85 is trading 27.1% below its estimated GF Value™ of $363.40.
GuruFocus considers Erie Indemnity Co to be Modestly Undervalued.
Key valuation signals for ERIE:
Owner Earnings per Share (TTM): 9.01 (78% below median its 10-year median of 40.42)
GF Value™: $363.40 vs. price of $264.85 (27.1% below fair value)
Industry Position: 17.9% above the Insurance median (#299 of 343)
No single metric tells the full story. See the ERIE 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
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