Erie Indemnity vs Ryan Specialty
Erie Indemnity reported revenue of $4.1 billion in fiscal 2025, 1.3 times Ryan Specialty's $3.1 billion in fiscal 2025. Erie Indemnity's revenue grew 7.2% in its latest year, and Ryan Specialty's grew 21.3%. Erie Indemnity had an operating margin of 17.6%, against 16.2% at Ryan Specialty. Free cash flow was $571 million at Erie Indemnity and $641 million at Ryan Specialty.
Side by side
| Erie Indemnity | Ryan Specialty | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $4.1B | $3.1B |
| Revenue growth | 7.2% | 21.3% |
| Revenue growth a year, last 5 years | 9.9% | 24.5% |
| Gross margin | — | — |
| Operating margin | 17.6% | 16.2% |
| Net margin | 13.8% | 2.1% |
| Free cash flow | $571M | $641M |
| Free cash flow margin | 14.0% | 21.0% |
| Return on capital | 31.8% | 8.7% |
| Net debt to EBITDA | −0.5x | 4.1x |
| Dividends and buybacks | $254M | $62M |
| Change in diluted share count | — | — |
| Last close | $251.30 | $44.47 |
| P/E at the last close | — | — |
| Insider trades, last 12 months | bought $1.4 million, sold $100,952 | bought $5.6 million, sold $234.6 million |
| Piotroski F-score | — | — |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Erie IndemnityRyan Specialty
Operating margin
Percent of revenue
Erie IndemnityRyan Specialty
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Erie IndemnityRyan Specialty
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Erie Indemnity and Ryan Specialty pages.