Erie Indemnity Company Financial Ratios — ERIE Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	9.07	8.53	8.65	8.69	8.85	10.35	9.36	13.17	13.74	12.28	12.17	11.75	16.55	20.11	16.87
Return on Assets (%)	1.18	1.07	1.01	1.86	12.81	14.23	12.26	16.74	16.7	14.19	13.67	13.32	18.94	22.4	17.92
Return on Capital (%)	0.96	-3.88	-8.64	-2.65	3.11	10.29	9.18	12.75	13.2	11.83	11.85	11.6	16.55	20.11	16.87
Return on Invested Capital (%)	- -	- -	14.41	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	- -	- -	119.35	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Margin (%)	- -	- -	119.35	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	-38.52	-1,402.97	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	7.66	16.71	18.78	17.64	17.49	19.79	18.38	15.42	15.76	14.34	14.1	13.2	16.98	19.61	17.13
Profit Margin (%)	3.61	2.97	12.39	11.76	11.48	13.01	11.47	11.97	12.59	11.41	11.16	10.47	13.48	15.54	13.48
Net Income to Common Margin (%)	3.61	2.97	12.39	11.76	11.48	13.01	11.47	11.97	12.59	11.41	11.16	10.47	13.48	15.54	13.48
Effective Tax Rate (%)	25.14	31.15	34.06	33.34	34.39	34.28	37.6	22.38	20.14	20.41	20.87	20.69	20.62	20.73	21.29
Dvd Payout Ratio (%)	27.79	21.24	7.98	20.7	72.62	64.64	73.99	54.29	52.92	93.04	64.73	69.25	49.7	39.56	45.46
Sustainable Growth Rate (%)	6.55	6.72	7.96	6.89	2.42	3.66	2.43	6.02	6.47	0.85	4.29	3.61	8.32	12.15	9.2

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	- -	- -	- -	- -	- -	25	75	100	98	96	94	- -	- -	- -	- -
ST Debt	- -	- -	- -	- -	- -	- -	- -	2	2	2	2	- -	- -	- -	- -
LT Debt	- -	- -	- -	- -	- -	25	75	98	96	94	92	- -	- -	- -	- -
Total Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBITDA	- -	- -	-0.29	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	-0.29	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	-249.58	-23.37	-22.88	-119.2	-75.96	-36.01	-33.45	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	1	2	1	1	4	2	- -	- -	- -
Common Equity/Total Assets	13.21	12.01	11.42	147.86	141.84	133.51	128.64	125.6	118.03	113.16	111.39	115.45	113.51	109.55	103.26
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	3.03	8.72	10.05	8.46	7.9	6.83	- -	- -	- -	- -
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	1.18	3.37	4.19	3.87	3.77	3.54	- -	- -	- -	- -
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	1.6	4.49	5.5	4.75	4.43	4.09	- -	- -	- -	- -
Total Debt/Equity (%)	- -	- -	- -	- -	- -	3.03	8.72	10.24	8.63	8.07	6.99	- -	- -	- -	- -
Total Debt/Capital (%)	- -	- -	- -	- -	- -	1.18	3.37	4.27	3.95	3.85	3.62	- -	- -	- -	- -
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	1.6	4.49	5.61	4.85	4.53	4.19	- -	- -	- -	- -
Net Debt to Equity	-2.94	-5.89	-5.99	-13.05	-23.77	-20.11	-16.45	-17.12	-21.08	-5.5	-6.69	-8.99	-7.91	-13.83	-13.83
Net Debt/Capital (%)	-2.56	-5.26	-5.47	-1	-10.09	-8.63	-7.04	-8.06	-11.16	-2.81	-3.73	-5.3	-4.92	-9.51	-10.02
EBITDA	- -	- -	1,567	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx	-11	-33	1,556	-19	-13	-25	-29	-56	-102	-56	-149	-67	-93	-125	-116
Operating Income (Loss)	- -	- -	1,567	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	13.21	12.01	11.42	147.86	141.84	133.51	128.64	125.6	118.03	113.16	111.39	115.45	113.51	109.55	103.26
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	3.03	8.72	10.05	8.46	7.9	6.83	- -	- -	- -	- -
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	1.18	3.37	4.19	3.87	3.77	3.54	- -	- -	- -	- -
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	1.6	4.49	5.5	4.75	4.43	4.09	- -	- -	- -	- -
Total Debt/Equity (%)	- -	- -	- -	- -	- -	3.03	8.72	10.24	8.63	8.07	6.99	- -	- -	- -	- -
Total Debt/Capital (%)	- -	- -	- -	- -	- -	1.18	3.37	4.27	3.95	3.85	3.62	- -	- -	- -	- -
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	1.6	4.49	5.61	4.85	4.53	4.19	- -	- -	- -	- -
CFO/Total Liabilities	4.47	- -	9.89	- -	- -	- -	- -	- -	- -	36.87	44.78	46.29	47.11	67.81	64.05
CFO/CapEx	32.73	- -	84	- -	- -	- -	- -	- -	- -	6.17	2.71	5.45	4.11	4.9	5.94
Altman's Z-Score	0.83	0.77	0.8	7.78	7.77	7.73	7.56	8.31	8.8	10.12	8.68	11.6	14.4	15.55	10.09

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	4.09	4.54	1.02	1.7	4.46	4.45	4.31	5.55	5.48	5.34	5.48	5.68	12.61	- -	- -
Days Sales Outstanding	89.2	80.45	357.1	214.48	81.92	81.98	84.67	65.8	66.61	68.4	66.57	64.27	28.95	- -	- -
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	4,298	3,701	3,858	4,752	5,001	5,880	6,371	6,971	8,680	11,345	8,899	11,489	15,470	19,042	13,241
- Cash & Cash Equivalents	185	400	452	92	183	189	216	266	337	161	184	130	132	275	316
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	5,512	6,149	6,816	7,280	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	- -	- -	- -	25	75	100	98	96	94	- -	- -	- -	- -
Enterprise Value	1,196	291	665	11,877	4,756	5,660	6,159	6,402	8,408	11,261	8,771	11,334	15,256	18,722	12,888
Total Capital	7,408	8,003	8,720	9,231	1,996	2,093	2,218	2,333	2,478	2,492	2,591	2,585	2,806	3,164	3,465
Total Debt/Capital (%)	- -	- -	- -	- -	- -	1.18	3.37	4.27	3.95	3.85	3.62	- -	- -	- -	- -
Total Debt / EV	- -	- -	- -	- -	- -	- -	0.01	0.02	0.01	0.01	0.01	- -	- -	- -	- -
EV/Sales	0.26	0.05	0.51	8.34	3.12	3.5	3.59	2.66	3.34	4.38	3.29	3.98	4.61	4.85	3.11
EV/EBITDA	- -	- -	0.42	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	0.42	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	3.32	- -	0.74	- -	- -	85,262.4	7,971.88	3,352.56	12,299.6	32.82	21.6	30.82	40.02	30.63	18.77
EV/Free Cash Flow to Firm	3.22	8.81	0.73	609.9	378.77	223.92	207.36	109.98	81.85	28.25	15.81	26.06	32.2	25.43	16.06
Diluted Market Cap	4,781	4,129	4,311	5,330	5,604	6,582	7,120	7,787	9,698	12,849	10,078	13,008	17,516	21,563	14,994
Diluted Enterprise Value	10,108	9,878	10,675	12,518	5,422	6,418	6,979	7,621	9,459	12,783	9,988	12,878	17,385	21,288	14,678
EV per Share	21.75	5.44	12.6	226.88	90.96	108.23	117.78	122.43	160.8	243.8	189.88	245.38	330.3	405.31	279.01
TTM Sales	4,675	5,381	1,313	1,425	1,522	1,617	1,718	2,408	2,517	2,570	2,670	2,851	3,309	3,862	4,149
TTM EBITDA	- -	- -	1,567	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Operating Income	- -	- -	1,567	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	360	- -	903	- -	- -	- -	1	2	1	343	406	368	381	611	687
TTM Free Cash Flow to Firm	371	33	914	19	13	25	30	58	103	399	555	435	474	736	802

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	12.89	125.13	4.72	273.7	446.36	261.12	246.14	138.33	95.04	32.27	18.27	30.02	36.97	29.29	18.69
EV/EBIT	- -	- -	0.42	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	1,196	291	665	11,877	4,756	5,660	6,159	6,402	8,408	11,261	8,771	11,334	15,256	18,722	12,888
Low Price	62.62	61.13	68.49	66.55	79	88.69	106.91	106.63	127.04	130.2	168.87	158.46	199.49	321.05	273.59
EV/Sales	0.26	0.05	0.51	8.34	3.12	3.5	3.59	2.66	3.34	4.38	3.29	3.98	4.61	4.85	3.11
EV/EBITDA	- -	- -	0.42	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	25.43	23.13	23.72	28.37	28.63	27.95	32.34	24.19	27.4	38.68	29.88	38.48	34.68	31.72	23.67
Price/Earnings Average	23.28	23.56	24.25	23.83	25.84	24.55	31.88	22.05	31.87	30.78	32.15	31.81	26.46	31.8	29.3
Price/Earnings High	26.49	26.94	27.12	29.38	30.47	28.89	34.43	26.7	44.6	40.44	41.37	44.32	34.8	42.09	37.73
Price/Earnings Low	20.37	20.43	22.22	20.8	23.65	22.05	28.38	19.34	20.97	20.5	26.19	24.52	20.66	24.7	22.59
Price/Book Value	2.27	2	2.03	2.44	2.51	2.84	2.97	3.12	3.65	4.74	3.56	4.44	5.51	6.02	3.82
Price/Book Value Average	2.07	2.03	2.07	2.05	2.26	2.5	2.93	2.85	4.24	3.77	3.83	3.67	4.21	6.03	4.73
Price/Book Value High	2.36	2.33	2.32	2.52	2.67	2.94	3.17	3.45	5.94	4.95	4.93	5.12	5.53	7.98	6.09
Price/Book Value Low	1.82	1.76	1.9	1.79	2.07	2.24	2.61	2.5	2.79	2.51	3.12	2.83	3.28	4.69	3.65
Price/Tangible Book Value	0.68	0.54	0.51	6.76	6.5	7.2	7.43	7.16	7.66	9.55	6.63	7.93	9.3	9.58	5.8
Price/Tangible Book Value Average	0.63	0.55	0.52	5.68	5.87	6.32	7.33	6.53	8.91	7.6	7.13	6.56	7.1	9.61	7.18
Price/Tangible Book Value High	0.71	0.63	0.58	7	6.92	7.44	7.91	7.9	12.47	9.98	9.18	9.14	9.33	12.71	9.24
Price/Tangible Book Value Low	0.55	0.48	0.48	4.95	5.37	5.68	6.52	5.73	5.86	5.06	5.81	5.05	5.54	7.46	5.53
Price/Sales	0.92	0.69	2.94	3.34	3.29	3.64	3.71	2.89	3.45	4.41	3.33	4.03	4.67	4.93	3.19
Price/Sales Average	0.84	0.7	3	2.8	2.96	3.19	3.66	2.64	4.01	3.51	3.59	3.33	3.57	4.94	3.95
Price/Sales High	0.96	0.8	3.36	3.45	3.5	3.76	3.95	3.2	5.61	4.62	4.62	4.64	4.69	6.54	5.09
Price/Sales Low	0.74	0.61	2.75	2.45	2.71	2.87	3.25	2.32	2.64	2.34	2.92	2.57	2.78	3.84	3.05
Price/Cash Flow	11.94	- -	4.27	- -	- -	- -	- -	- -	- -	33.11	22.09	31.38	40.58	31.15	19.28
Price/Cash Flow Average	10.93	- -	4.37	- -	- -	- -	- -	- -	- -	26.35	23.77	25.94	30.96	31.23	23.86
Price/Cash Flow High	12.43	- -	4.88	- -	- -	- -	- -	- -	- -	34.62	30.59	36.14	40.72	41.34	30.74
Price/Cash Flow Low	9.56	- -	4	- -	- -	- -	- -	- -	- -	17.55	19.37	19.99	24.17	24.26	18.4
Price/Free Cash Flow Average	11.8	127.43	4.82	229.93	402.83	229.39	242.66	126.14	110.55	25.68	19.66	24.81	28.2	29.37	23.13
Price/Free Cash Flow High	13.42	145.75	5.39	283.44	475.11	269.85	262.08	152.71	154.72	33.74	25.3	34.58	37.09	38.87	29.79
Price/Free Cash Flow Low	10.32	110.5	4.42	200.67	368.7	205.95	215.98	110.64	72.73	17.11	16.01	19.12	22.02	22.81	17.84
EV/Sales Average	1.98	1.77	7.85	7.85	2.84	3.09	3.57	2.57	3.92	3.49	3.55	3.29	3.53	4.87	3.87
EV/Sales High	2.1	1.87	8.21	8.5	3.38	3.66	3.87	3.13	5.52	4.59	4.58	4.6	4.65	6.47	5.01
EV/Sales Low	1.88	1.68	7.6	7.49	2.59	2.77	3.17	2.25	2.54	2.31	2.89	2.52	2.74	3.77	2.97
EV/EBITDA Average	- -	- -	6.58	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA High	- -	- -	6.88	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA Low	- -	- -	6.37	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Average	- -	- -	6.58	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	6.88	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	6.37	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	78.16	69.22	73.12	90.77	95.64	112.45	121.84	133.31	166	245.6	192.66	248.72	334.92	412.23	286.65
High Price	81.41	80.63	83.57	94	101.8	116.21	129.73	147.17	270.23	256.77	266.77	286.5	336.05	547	456.93
Enterprise Value Average	9,261	9,518	10,307	11,180	4,330	5,001	6,140	6,190	9,857	8,962	9,486	9,367	11,671	18,818	16,071
Enterprise Value High	9,803	10,060	10,773	12,109	5,140	5,912	6,642	7,529	13,891	11,795	12,233	13,104	15,390	24,992	20,791
Enterprise Value Low	8,770	9,017	9,978	10,672	3,948	4,473	5,449	5,409	6,404	5,949	7,710	7,189	9,083	14,555	12,322

Shares Outstanding	54	53	53	52	52	52	52	52	52	52	52	52	52	52	52
Diluted Weighted Avg Shares	61	60	59	59	59	59	58	58	58	52	52	52	52	52	52
Basic Weighted Avg Shares	55	53	53	52	52	52	52	52	52	46	46	46	46	46	46
Revenue per Share	85.02	100.65	24.88	27.21	29.11	30.93	32.85	46.05	48.13	55.64	57.79	61.73	71.65	83.62	89.81
EBITDA per Share	- -	- -	29.7	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income per Share	- -	- -	29.7	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	3.07	2.99	3.08	3.2	3.34	4.02	3.77	5.51	6.06	6.35	6.45	6.46	9.66	13	12.11
Basic EPS from Cont Ops	4.87	11.58	3.08	3.2	3.34	4.02	3.77	5.51	6.06	6.35	6.45	6.46	9.66	13	12.11
Diluted EPS, GAAP	2.76	2.68	2.76	2.85	2.98	3.59	3.37	4.93	5.42	5.61	5.69	5.71	8.53	11.48	10.69
Diluted EPS from Cont Ops	4.38	10.38	2.76	2.85	2.98	3.59	3.37	4.93	5.42	5.61	5.69	5.71	8.53	11.48	10.69
Dividend per Share	1.86	4.28	1.58	2.26	2.43	2.6	2.79	2.99	3.21	5.91	4.17	4.48	4.8	5.14	5.5
Cash Flow per Share	6.55	- -	17.11	- -	- -	- -	- -	- -	- -	7.42	8.72	7.93	8.25	13.23	14.87
Free Cash Flow per Basic Share	6.35	-0.62	16.91	-0.37	-0.24	-0.48	-0.55	-1.08	-1.95	6.21	5.5	6.47	6.25	10.53	12.36
Cash & Equivalents per Share	156.66	178.8	189.7	2.96	4.68	4.69	5.49	12.79	7.07	3.87	4.81	3.34	4.62	6.92	7.64
Book Value per Share	34.48	34.68	36.09	37.26	38.18	39.55	40.99	42.72	45.51	51.87	54.07	55.97	60.75	68.51	75.01
Tangible Book Value per Share	114.45	127.02	143.1	13.43	14.72	15.62	16.4	18.62	21.67	25.72	29.06	31.36	36	43.02	49.43

Erie Indemnity Company

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)