Erie Indemnity
ERIE · Insurance Brokers
$253.52
1.3%Willis Towers Watson
WTW · Insurance Brokers
$325.01
2.2%The short version
- Willis Towers Watson is the larger business, with $9.7B of revenue in fiscal 2025 against $4.1B for Erie Indemnity, about 2.4 times as much.
- Erie Indemnity grew revenue faster (7.2%, against −2.2%).
- Willis Towers Watson kept more of each dollar of sales as operating profit (23.0% operating margin, against 17.6% operating margin).
- Willis Towers Watson turned more of its sales into free cash flow (15.9% FCF margin, against 14.0% FCF margin).
- Erie Indemnity earned a higher return on the capital invested in it (31.8%, against 12.8%).
| Latest fiscal year | ERIE · FY25 | WTW · FY25 |
|---|---|---|
| Size | ||
| Market cap | — | $30.6B |
| Revenue | $4.1B | $9.7B |
| Free cash flow | $571M | $1.5B |
| Net income | $559M | $1.6B |
| Growth | ||
| Revenue growth | 7.2% | −2.2% |
| 5-year growth | 9.9% | 2.4% |
| Share count change | — | −2.9% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 17.6% | 23.0% |
| Net margin | 13.8% | 16.5% |
| FCF margin | 14.0% | 15.9% |
| Return on capital | 31.8% | 12.8% |
| Return on equity | 26.2% | 20.2% |
| Balance sheet | ||
| Net debt | −$380M | $6.5B |
| Net debt / EBITDA | −0.5x | 2.5x |
| Dividends and buybacks | $254M | $2.0B |
| Valuation & quality | ||
| P/E | — | 20.1x |
| Piotroski F-score | — | 7 |
FY16
ERIE $1.6B
WTW $7.9B
FY17
ERIE $1.7B
WTW $8.2B
FY18
ERIE $2.4B
WTW $8.5B
FY19
ERIE $2.5B
WTW $8.4B
FY20
ERIE $2.5B
WTW $8.6B
FY21
ERIE $2.6B
WTW $9.0B
FY22
ERIE $2.8B
WTW $8.9B
FY23
ERIE $3.3B
WTW $9.5B
FY24
ERIE $3.8B
WTW $9.9B
FY25
ERIE $4.1B
WTW $9.7B
ERIE
WTW
FY16
ERIE 18.4%
WTW 4.4%
FY17
ERIE 17.2%
WTW 6.3%
FY18
ERIE 14.5%
WTW 9.5%
FY19
ERIE 14.4%
WTW 12.6%
FY20
ERIE 13.3%
WTW 10.0%
FY21
ERIE 12.1%
WTW 24.5%
FY22
ERIE 13.3%
WTW 13.3%
FY23
ERIE 15.9%
WTW 14.4%
FY24
ERIE 17.8%
WTW 6.3%
FY25
ERIE 17.6%
WTW 23.0%
ERIE
WTW
FY16
ERIE $229M
WTW $715M
FY17
ERIE $168M
WTW $562M
FY18
ERIE $207M
WTW $1.0B
FY19
ERIE $262M
WTW $1.0B
FY20
ERIE $287M
WTW $1.7B
FY21
ERIE $254M
WTW $2.0B
FY22
ERIE $299M
WTW $746M
FY23
ERIE $289M
WTW $1.1B
FY24
ERIE $486M
WTW $1.3B
FY25
ERIE $571M
WTW $1.5B
ERIE
WTW
FY16
ERIE —
WTW —
FY17
ERIE 26.5%
WTW —
FY18
ERIE 47.7%
WTW 4.5%
FY19
ERIE 45.1%
WTW 5.2%
FY20
ERIE 27.4%
WTW 3.8%
FY21
ERIE 21.7%
WTW 11.0%
FY22
ERIE 23.9%
WTW 6.5%
FY23
ERIE 30.4%
WTW 7.3%
FY24
ERIE 34.8%
WTW 2.1%
FY25
ERIE 31.8%
WTW 12.8%
ERIE
WTW
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.