Erie Indemnity (ERIE) FY2024 results: revenue $3.8 billion, up 16.1% on the year
Erie Indemnity Co. (ERIE) reported revenue of $3.8 billion for fiscal 2024, the year ended 31 December 2024, up 16.1% on the year before. Net income was $600 million, up 34.6%, and diluted earnings per share $11.48. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2025.
Revenue
$3.8 billion
+16.1% on the year
FY2017FY2024
Operating margin
17.8%
15.9% a year earlier
FY2017FY2024
Net income
$600 million
+34.6% on the year
FY2017FY2024
Diluted EPS
$11.48
+34.6% on the year
FY2017FY2024
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
611
381
366
+60.3%
Capital expenditure
125
92.6
67.2
+34.8%
Free cash flow
486
289
299
+68.6%
Free cash flow margin
12.8%
8.8%
10.5%
Cash from investing
-227
-158
-107
Cash from financing
-230
-222
-301
Depreciation and amortisation
56.5
47.4
45.9
+19.2%
Dividends paid
238
222
207
+7.1%
Diluted shares, weighted
52m
52m
52m
+0.0%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
1,987
1,663
1,448
+19.5%
Debt
n/a
n/a
0.0
Other liabilities
901
809
791
+11.4%
Total liabilities and equity
2,889
2,472
2,239
+16.9%
Investments
1,036
961
895
+7.8%
Cash and equivalents
298
144
142
+107.1%
Receivables
707
625
525
+13.1%
Other assets
847
741
678
+14.2%
Total assets
2,889
2,472
2,239
+16.9%
10-K for the year ended 31 December 2024, filed 27 February 2025: the filing.