NYSE : EIG
Employers Holdings, Inc. — Financial statements
Financials · Insurance - Specialty · United States
Last price 44.77 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 785.15M
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Premiums & Annuity Revenue | 703.70M | 761.90M | 749.50M | 721.90M | 675.20M | 574.40M |
| Total Interest & Dividend Income | 119.40M | 116.70M | 107.00M | 106.50M | 89.80M | 72.70M |
| Gain (Loss) on Sale of Investments | -35.90M | -20.40M | 24.10M | 22.70M | -51.80M | 54.60M |
| Other Revenue | 400.00K | 500.00K | 100.00K | -200.00K | 300.00K | 1.40M |
| Total Revenue | 787.60M | 858.70M | 880.70M | 850.90M | 713.50M | 703.10M |
| Policy Benefits | 499.90M | 581.80M | 456.20M | 405.70M | 391.00M | 315.20M |
| Policy Acquisition & Underwriting Costs | 251.50M | 263.30M | 277.70M | 280.00M | 263.20M | 236.30M |
| Total Operating Expenses | 751.40M | 845.10M | 733.90M | 685.70M | 654.20M | 551.50M |
| Operating Income | 36.20M | 13.60M | 146.80M | 165.20M | 59.30M | 151.60M |
| Interest Expense | -3.90M | -500.00K | -100.00K | -5.80M | -3.50M | -500.00K |
| EBT Excluding Unusual Items | 32.30M | 13.10M | 146.70M | 159.40M | 55.80M | 151.10M |
| Merger & Restructuring Charges | -1.30M | -3.10M | ||||
| Asset Writedown | -4.20M | -1.00M | ||||
| Other Unusual Items | 200.00K | -6.80M | ||||
| Pretax Income | 32.30M | 12.00M | 146.70M | 148.40M | 55.80M | 147.00M |
| Income Tax Expense | 4.90M | 1.20M | 28.10M | 30.30M | 7.40M | 27.70M |
| Net Income | 27.40M | 10.80M | 118.60M | 118.10M | 48.40M | 119.30M |
| Net Income to Common | 27.40M | 10.80M | 118.60M | 118.10M | 48.40M | 119.30M |
| Shares Outstanding (Basic) | 19.33M | 23.39M | 25.05M | 26.37M | 27.50M | 28.29M |
| Shares Outstanding (Diluted) | 19.47M | 23.53M | 25.19M | 26.52M | 27.68M | 28.60M |
| EPS (Basic) | 1.42 | 0.46 | 4.73 | 4.48 | 1.76 | 4.22 |
| EPS (Diluted) | 1.41 | 0.46 | 4.71 | 4.45 | 1.75 | 4.17 |
| Free Cash Flow | -21.30M | 42.50M | 71.50M | 47.20M | 97.20M | 7.20M |
| Free Cash Flow Per Share | -1.09 | 1.81 | 2.84 | 1.78 | 3.51 | 0.25 |
| Dividend Per Share | 1.32 | 1.26 | 1.18 | 1.10 | 1.03 | 1.00 |
| Operating Margin | 4.60% | 1.58% | 16.67% | 19.41% | 8.31% | 21.56% |
| Profit Margin | 3.48% | 1.26% | 13.47% | 13.88% | 6.78% | 16.97% |
| Free Cash Flow Margin | -2.70% | 4.95% | 8.12% | 5.55% | 13.62% | 1.02% |
| EBITDA | 39.80M | 17.20M | 150.40M | 170.00M | 64.60M | 159.00M |
| EBITDA Margin | 5.05% | 2.00% | 17.08% | 19.98% | 9.05% | 22.61% |
| D&A For EBITDA | 3.60M | 3.60M | 3.60M | 4.80M | 5.30M | 7.40M |
| EBIT | 36.20M | 13.60M | 146.80M | 165.20M | 59.30M | 151.60M |
| EBIT Margin | 4.60% | 1.58% | 16.67% | 19.41% | 8.31% | 21.56% |
| Effective Tax Rate | 15.17% | 10.00% | 19.16% | 20.42% | 13.26% | 18.84% |
| Revenue as Reported | 787.60M | 858.70M | 880.70M | 850.90M | 713.50M | 703.10M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Investments in Debt Securities | 1.97B | 2.04B | 2.09B | 1.93B | 2.18B | 2.34B |
| Investments in Equity & Preferred Securities | 262.30M | 280.50M | 360.70M | 302.70M | 256.70M | 377.20M |
| Other Investments | 13.20M | 10.10M | 100.00K | 33.10M | 119.10M | 10.50M |
| Total Investments | 2.25B | 2.33B | 2.46B | 2.27B | 2.56B | 2.73B |
| Cash & Equivalents | 75.70M | 159.80M | 68.30M | 226.40M | 89.20M | 75.10M |
| Reinsurance Recoverable | 380.60M | 391.60M | 417.80M | 433.80M | 451.30M | 483.80M |
| Other Receivables | 339.30M | 367.00M | 381.80M | 375.70M | 324.90M | 259.20M |
| Deferred Policy Acquisition Cost | 55.70M | 57.10M | 59.60M | 55.60M | 48.30M | 43.70M |
| Property, Plant & Equipment | 9.40M | 10.20M | 11.50M | 11.60M | 23.50M | 28.90M |
| Goodwill | 36.20M | 36.20M | 36.20M | 36.20M | 36.20M | 36.20M |
| Other Intangible Assets | 27.80M | 26.50M | 30.90M | 41.60M | 56.50M | 57.50M |
| Restricted Cash | 200.00K | 200.00K | 200.00K | 200.00K | 200.00K | 200.00K |
| Other Current Assets | 14.20M | 13.90M | 13.90M | |||
| Long-Term Deferred Tax Assets | 36.00M | 14.30M | 38.30M | 43.40M | 62.70M | |
| Other Long-Term Assets | 44.40M | 45.50M | 41.50M | 42.60M | 50.60M | 57.40M |
| Total Assets | 3.25B | 3.44B | 3.54B | 3.55B | 3.72B | 3.78B |
| Accounts Payable | 21.90M | 23.40M | 21.20M | 26.10M | 28.70M | 24.10M |
| Accrued Expenses | 53.50M | 59.90M | 65.80M | 66.00M | 58.20M | 42.10M |
| Insurance & Annuity Liabilities | 1.73B | 256.10M | 259.00M | 264.60M | 271.40M | 262.30M |
| Unpaid Claims | 1.55B | 1.55B | 1.62B | 1.69B | 1.72B | |
| Unearned Premiums | 374.90M | 391.90M | 402.20M | 379.70M | 339.50M | 304.70M |
| Current Portion of Leases | 200.00K | 800.00K | 100.00K | |||
| Short-Term Debt | 16.00M | |||||
| Long-Term Debt | 125.00M | 19.00M | 182.50M | |||
| Long-Term Leases | 3.20M | 3.10M | 4.20M | 6.10M | 14.00M | 17.10M |
| Long-Term Deferred Tax Liabilities | 7.70M | |||||
| Other Current Liabilities | 3.10M | 3.40M | ||||
| Other Long-Term Liabilities | 67.40M | 69.60M | 76.90M | 74.90M | 82.80M | 78.80M |
| Total Liabilities | 2.47B | 2.48B | 2.47B | 2.54B | 2.77B | 2.57B |
| Common Stock | 600.00K | 600.00K | 600.00K | 600.00K | 600.00K | 600.00K |
| Additional Paid-In Capital | 430.90M | 427.80M | 424.20M | 419.80M | 414.60M | 410.70M |
| Retained Earnings | 1.49B | 1.45B | 1.47B | 1.38B | 1.30B | 1.34B |
| Treasury Stock | -1.06B | -933.80M | -746.50M | -704.80M | -627.70M | -597.30M |
| Comprehensive Income & Other | -74.00M | 7.30M | -82.50M | -86.00M | -138.90M | 60.60M |
| Shareholders' Equity | 785.60M | 955.70M | 1.07B | 1.01B | 944.20M | 1.21B |
| Total Liabilities & Equity | 3.25B | 3.44B | 3.54B | 3.55B | 3.72B | 3.78B |
| Filing Date Shares Outstanding | 17.54M | 19.48M | 24.36M | 25.30M | 27.14M | 27.73M |
| Total Common Shares Outstanding | 17.59M | 20.34M | 24.56M | 25.37M | 27.16M | 27.74M |
| Total Debt | 128.40M | 38.90M | 4.30M | 6.10M | 196.50M | 17.10M |
| Net Cash (Debt) | -52.70M | 120.90M | 64.00M | 220.30M | -107.30M | 58.00M |
| Net Cash Per Share | -2.71 | 5.14 | 2.54 | 8.31 | -3.88 | 2.03 |
| Book Value Per Share | 44.66 | 46.98 | 43.52 | 39.96 | 34.76 | 43.73 |
| Tangible Book Value | 721.60M | 893.00M | 1.00B | 936.10M | 851.50M | 1.12B |
| Tangible Book Value Per Share | 41.02 | 43.90 | 40.79 | 36.90 | 31.35 | 40.35 |
| Machinery | 43.70M | 42.30M | 48.00M | 47.50M | 50.90M | 50.10M |
| Leasehold Improvements | 400.00K | 400.00K | 500.00K | 500.00K | 5.00M | 5.00M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 27.40M | 10.80M | 118.60M | 118.10M | 48.40M | 119.30M |
| Depreciation & Amortization | 3.60M | 3.60M | 3.60M | 4.80M | 5.30M | 7.40M |
| Other Amortization | 3.50M | 7.60M | 13.10M | 16.70M | 16.40M | 14.20M |
| Gain (Loss) on Sale of Investments | 33.10M | 17.90M | -25.10M | -20.30M | 54.80M | -46.10M |
| Stock-Based Compensation | 5.40M | 5.00M | 6.30M | 6.20M | 5.10M | 9.10M |
| Change in Accounts Receivable | 44.20M | 22.50M | -3.20M | -58.60M | -63.70M | -12.10M |
| Reinsurance Recoverable | 17.00M | 26.30M | 16.00M | 17.50M | 32.20M | 20.20M |
| Change in Accounts Payable | -6.70M | -6.20M | 3.30M | 3.70M | 7.20M | -2.50M |
| Change in Unearned Revenue | -50.90M | -16.30M | 17.30M | 33.30M | 26.50M | -5.40M |
| Change in Income Taxes | 12.60M | -11.30M | -8.40M | -6.70M | 8.80M | -7.90M |
| Change in Insurance Reserves / Liabilities | -89.20M | -2.40M | -76.30M | -76.20M | -20.50M | -88.20M |
| Change in Other Net Operating Assets | -13.80M | -16.20M | 5.80M | -2.70M | -6.10M | -4.60M |
| Other Operating Activities | -7.80M | 100.00K | 4.10M | 4.30M | -17.40M | 6.70M |
| Operating Cash Flow | -18.80M | 44.70M | 76.40M | 49.40M | 99.80M | 10.80M |
| Capital Expenditures | -2.50M | -2.20M | -4.90M | -2.20M | -2.60M | -3.60M |
| Investment in Securities | 52.80M | 228.10M | -154.80M | 379.50M | -143.50M | 1.90M |
| Investing Cash Flow | 50.30M | 225.90M | -159.70M | 377.30M | -146.10M | -1.70M |
| Short-Term Debt Issued | 10.00M | 27.00M | ||||
| Long-Term Debt Issued | 35.00M | 182.50M | ||||
| Total Debt Issued | 145.00M | 35.00M | 192.50M | 27.00M | ||
| Total Debt Repaid | -20.00M | -100.00K | -182.70M | -10.20M | -47.10M | |
| Net Debt Issued (Repaid) | 125.00M | 35.00M | -100.00K | -182.70M | 182.30M | -20.10M |
| Repurchases of Common Stock | -220.50M | -182.80M | -42.60M | -76.10M | -30.40M | -42.60M |
| Common Dividends Paid | -25.90M | -29.90M | -30.30M | -29.70M | -28.80M | -29.00M |
| Other Financing Activities | -1.20M | -1.40M | -1.80M | -1.00M | -1.20M | -2.70M |
| Financing Cash Flow | -122.60M | -179.10M | -74.80M | -289.50M | 60.40M | -94.40M |
| Net Cash Flow | -91.10M | 91.50M | -158.10M | 137.20M | 14.10M | -85.30M |
| Free Cash Flow | -21.30M | 42.50M | 71.50M | 47.20M | 97.20M | 7.20M |
| Free Cash Flow Margin | -2.70% | 4.95% | 8.12% | 5.55% | 13.62% | 1.02% |
| Free Cash Flow Per Share | -1.09 | 1.81 | 2.84 | 1.78 | 3.51 | 0.25 |
| Levered Free Cash Flow | 6.79M | 43.09M | 113.59M | 153.53M | -56.83M | 80.54M |
| Unlevered Free Cash Flow | 9.22M | 43.40M | 113.65M | 157.15M | -54.64M | 80.85M |
| Cash Interest Paid | 500.00K | 500.00K | 100.00K | 5.80M | 2.60M | 300.00K |
| Cash Income Tax Paid | 12.40M | 32.40M | 31.90M | 15.80M | 29.40M | |
| Change in Working Capital | -86.80M | -3.60M | -45.50M | -89.70M | -15.60M | -100.50M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 810.41M | 970.42M | 1.27B | 1.01B | 1.17B | 1.16B |
| Enterprise Value | 863.11M | 807.72M | 1.13B | 950.29M | 1.22B | 1.08B |
| PE Ratio | 32.69 | 89.85 | 10.68 | 8.58 | 24.23 | 9.70 |
| PS Ratio | 1.03 | 1.13 | 1.44 | 1.19 | 1.64 | 1.65 |
| PB Ratio | 1.00 | 1.01 | 1.19 | 1.00 | 1.24 | 0.95 |
| P/FCF Ratio | 22.83 | 17.71 | 21.47 | 12.07 | 160.72 | |
| P/OCF Ratio | 21.71 | 16.57 | 20.51 | 11.75 | 107.14 | |
| EV/Sales Ratio | 1.10 | 0.94 | 1.28 | 1.12 | 1.71 | 1.54 |
| EV/EBITDA Ratio | 21.69 | 46.96 | 7.50 | 5.59 | 18.92 | 6.79 |
| EV/EBIT Ratio | 23.84 | 59.39 | 7.68 | 5.75 | 20.61 | 7.12 |
| EV/FCF Ratio | 19.00 | 15.77 | 20.13 | 12.57 | 149.95 | |
| Debt / Equity Ratio | 0.16 | 0.04 | 0.00 | 0.01 | 0.21 | 0.01 |
| Debt / EBITDA Ratio | 3.15 | 2.13 | 0.03 | 0.04 | 2.89 | 0.10 |
| Debt / FCF Ratio | 0.92 | 0.06 | 0.13 | 2.02 | 2.38 | |
| Net Debt / Equity Ratio | 0.07 | -0.13 | -0.06 | -0.22 | 0.11 | -0.05 |
| Net Debt / EBITDA Ratio | 1.32 | -7.03 | -0.43 | -1.30 | 1.66 | -0.36 |
| Net Debt / FCF Ratio | -2.47 | -2.85 | -0.90 | -4.67 | 1.10 | -8.06 |
| Quick Ratio | 0.54 | 0.26 | 0.21 | 0.30 | 0.24 | 0.16 |
| Current Ratio | 1.05 | 0.45 | 0.43 | 0.52 | 0.47 | 0.40 |
| Asset Turnover | 0.23 | 0.25 | 0.25 | 0.23 | 0.19 | 0.18 |
| Return on Equity (ROE) | 3.00% | 1.07% | 11.39% | 12.06% | 4.49% | 9.84% |
| Return on Assets (ROA) | 0.67% | 0.24% | 2.59% | 2.84% | 0.99% | 2.46% |
| Return on Invested Capital (ROIC) | 3.23% | 1.18% | 11.34% | 12.17% | 4.34% | 9.91% |
| Earnings Yield | 3.06% | 1.11% | 9.37% | 11.65% | 4.13% | 10.31% |
| FCF Yield | -2.63% | 4.38% | 5.65% | 4.66% | 8.29% | 0.62% |
| Dividend Yield | 3.04% | 2.64% | 2.29% | 2.75% | 2.38% | 2.40% |
| Payout Ratio | 96.20% | 276.85% | 25.55% | 25.15% | 59.50% | 24.31% |
| Buyback Yield / Dilution | 19.71% | 6.62% | 5.01% | 4.18% | 3.22% | 5.31% |
| Total Shareholder Return | 22.75% | 9.26% | 7.30% | 6.93% | 5.60% | 7.71% |