Erie Indemnity Company
ERIE Financial Services · Insurance BrokersNot yet scored
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What the filing actually says.
No forensic scores are on file for Erie Indemnity, so this synthesis does not report a Beneish M-Score, Piotroski F-Score, Altman Z-Score, or Fog Index, and no score-based flag is implied in either direction. The Beneish M-Score is a screening model that estimates the likelihood that reported earnings are manipulated, the Piotroski F-Score counts how many of a set of profitability, leverage and efficiency checks a company passes, the Altman Z-Score estimates financial distress risk, and the Fog Index measures how hard a filing is to read. None of these can be read from the data provided. The longer financial trend is the clearest thing the data shows. Revenues grew from $2.38 billion in 2018 to $4.07 billion in 2025, a compound annual growth rate of about 8.0%. Net income rose from $288.22 million to $559.34 million over the same span, about 9.9% a year, but it did not move in a straight line. It fell about 7.4% in 2020 to $293.3 million, was nearly flat in 2022 at $298.57 million, jumped about 34.6% to $600.31 million in 2024, and then declined about 6.8% in 2025. Operating income rose faster than net income over the period, from $344.34 million to $717.18 million. Because the MD&A and risk-factor text are not on file, this synthesis cannot name the segments, products, programs, legal matters, debt instruments, or regulations that management or the 10-K identifies as drivers of these results. Readers may want to look at the MD&A and risk-factor sections of the 10-K directly to identify those items and to see how management explains the gap between operating income and net income in 2025.
Catalyst.The data provided contains no MD&A text, so the drivers management cites cannot be read directly here. The financial facts show revenues rising to $4.07 billion for fiscal 2025, up from $3.8 billion in 2024, a gain of about 7.1%. Revenues were $3.27 billion in 2023, so 2024 growth was about 16.2%. Operating income reached $717.18 million in 2025, up about 6.0% from $676.46 million in 2024. Taken together, the reported top-line and operating figures point to continued expansion in the business over the last two years.
Hidden risk.The most visible tension in the numbers is between operating income and net income. Net income fell to $559.34 million in 2025 from $600.31 million in 2024, a decline of about 6.8%, even though operating income rose about 6.0% over the same period. Net income equaled about 78% of operating income in 2025, compared with about 89% in 2024. The data does not explain this gap, and no risk-factor text is on file to address it. Readers may want to look at the income statement and related notes in the 10-K to see what sits between the two lines.
What traders are betting.
The metric
Shares that traders have borrowed and sold, betting the price will fall, and not yet bought back. Brokers report the total to FINRA twice a month. Days to cover divides it by the shares that change hands on a typical day.
- Shares sold short
- 2.6M
- Change since Aug 31
- −2.7%
- Days to cover
- 9.1
What it tells us
A large group of traders is betting that ERIE shares will fall. That is a strong negative view, and also a crowd that would have to buy shares back if the price rises.
Little changed since the Aug 31 report (−2.7%).
Short sellers would need about 9.1 days of normal trading to buy back every borrowed share. A slow exit like that can make a rush to cover sharper.
How investors use it
- Squeeze watching. Some aggressive traders seek out heavily shorted stocks, betting that good news will force short sellers to buy back shares and push the price higher.
- Hedging. Funds short one company to offset risk in another, often owning a stronger business and shorting a weaker one in the same industry.
- Timing. Chart-based traders pair rising short interest with price patterns, such as a break below a level where buyers used to step in, to decide when to enter or exit.
- Warning sign. Some owners treat a sharp rise in short interest as a red flag and respond by tightening stop-loss orders or holding smaller positions.
Quarterly report
The quarterly report (10-Q) and current report (8-K) Erie Indemnity Company filed in the last 12 months, each linked to the original document on SEC EDGAR.
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