A Business at a Glance
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Employers Holdings, Inc.
EIG
$1.2B
Mkt Cap
$49.79
+0.61%
Employers Holdings, Inc. (EIG) has a current P/E ratio of 108.2, compared to its historical median P/E of 8.9. The stock is currently considered Expensive based on its historical valuation range.
Employers Holdings, Inc. (EIG) has a 5-year average return on invested capital (ROIC) of 7.3%. This is below average and may indicate limited pricing power.
Employers Holdings, Inc. (EIG) has a market capitalization of $926M. It is classified as a small-cap stock.
Yes, Employers Holdings, Inc. (EIG) pays a dividend with a trailing twelve-month yield of 3.10%. The company also returns capital through share buybacks, with a buyback yield of 26.17%.
Based on historical P/E analysis, Employers Holdings, Inc. (EIG) appears expensive. The current P/E of 108.2 is 1122% above its historical median of 8.9. The estimated fair value CAGR (P/E method) is -5.6%.
Employers Holdings, Inc. (EIG) operates in the Fire, Marine & Casualty Insurance industry, within the Financials sector.
Employers Holdings, Inc. (EHI) is a holding company, which was incorporated in Nevada in 2005, with subsidiaries that are specialty providers of workers' compensation insurance and related services focused on small and mid-sized businesses engaged in lower hazard industries. In February 2026, we launched a new excess workers' compensation product that will be offered to self-insured enterprises in several jurisdictions across the United States (U.S.). We had 623 full-time employees at December 31, 2025 and our corporate headquarters are located at 5340 Kietzke Lane, Suite 202, Reno, Nevada, 89511. We operate throughout the U.S. with the exception of North Dakota, Ohio, Washington and Wyoming, which are served exclusively by their state funds.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 864M | 859M | 881M | 851M | 714M | 703M |
| Net Income | 8.2M | 11M | 119M | 118M | 48M | 119M |
| EPS | $0.28 | $0.46 | $4.71 | $4.45 | $1.75 | $4.17 |
| Free Cash Flow | 32M | 45M | 76M | 49M | 100M | 11M |
| ROIC | 0.0% | 1.1% | 10.5% | 11.0% | 4.4% | 9.7% |
| Gross Margin | - | 32.2% | 48.2% | 52.3% | 45.2% | 55.2% |
| Debt/Equity | 0.14 | 0.04 | 0.00 | 0.18 | 0.00 | 0.02 |
| Dividends/Share | $1.54 | $1.26 | $1.18 | $1.10 | $3.28 | $1.00 |
| Operating Income | 0 | 12M | 147M | 148M | 56M | 147M |
| Operating Margin | 0.0% | 1.4% | 16.7% | 17.4% | 7.8% | 20.9% |
| ROE | 0.9% | 1.1% | 11.4% | 12.1% | 4.5% | 9.8% |
| Shares Outstanding | 19M | 23M | 25M | 27M | 28M | 29M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 774M | 752M | 780M | 801M | 800M | 836M | 711M | 703M | 714M | 851M | 881M | 859M | 864M |
| Gross Margin | 41.4% | 42.9% | 46.4% | 47.9% | 52.9% | 56.2% | 57.5% | 55.2% | 45.2% | 52.3% | 48.2% | 32.2% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 97M | 109M | 109M | 99M | 9.0M |
| EBIT | 107M | 99M | 141M | 144M | 170M | 194M | 148M | 147M | 56M | 148M | 147M | 12M | 0 |
| Op. Margin | 13.8% | 13.2% | 18.0% | 18.0% | 21.2% | 23.2% | 20.8% | 20.9% | 7.8% | 17.4% | 16.7% | 1.4% | 0.0% |
| Net Income | 101M | 94M | 107M | 101M | 141M | 157M | 120M | 119M | 48M | 118M | 119M | 11M | 8.2M |
| Net Margin | 13.0% | 12.6% | 13.7% | 12.6% | 17.7% | 18.8% | 16.8% | 17.0% | 6.8% | 13.9% | 13.5% | 1.3% | 0.9% |
| Non-Recurring | 16M | -11M | 11M | 15M | -13M | 51M | 19M | 56M | -52M | 27M | 24M | -20M | -20M |
| Returns on Capital | |||||||||||||
| ROIC | 15.3% | 12.5% | 12.8% | 11.0% | 14.1% | 14.3% | 10.0% | 9.7% | 4.4% | 11.0% | 10.5% | 1.1% | 0.0% |
| ROE | 16.0% | 13.0% | 13.3% | 11.3% | 14.4% | 14.4% | 10.1% | 9.8% | 4.5% | 12.1% | 11.4% | 1.1% | 0.9% |
| ROA | 2.7% | 2.5% | 2.8% | 2.7% | 3.6% | 4.0% | 3.0% | 3.1% | 1.3% | 3.3% | 3.3% | 0.3% | 0.2% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 172M | 116M | 123M | 142M | 180M | 123M | 33M | 11M | 100M | 49M | 76M | 45M | 32M |
| Free Cash Flow | 171M | 116M | 122M | 142M | 180M | 122M | 33M | 11M | 100M | 49M | 76M | 45M | 32M |
| Owner Earnings | 159M | 104M | 109M | 127M | 165M | 103M | 15M | -5.7M | 73M | 22M | 53M | 26M | 13M |
| CapEx | 700K | 300K | 700K | 400K | 300K | 700K | 100K | 300K | 100K | 0 | 100K | 100K | 500K |
| Maint. CapEx | 7.0M | 8.3M | 8.5M | 8.2M | 6.3M | 9.0M | 8.2M | 7.4M | 22M | 22M | 17M | 14M | 14M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | N/A | 0 | 0 | 0 |
| D&A | 7.0M | 8.3M | 8.5M | 8.2M | 6.3M | 9.0M | 8.2M | 7.4M | 22M | 22M | 17M | 14M | 14M |
| CapEx/OCF | 0.4% | 0.3% | 0.6% | 0.3% | 0.2% | 0.6% | 0.3% | 2.8% | 0.1% | N/A | 0.1% | 0.2% | 1.5% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 7.6M | 7.7M | 12M | 20M | 27M | 28M | 31M | 29M | 90M | 30M | 30M | 30M | 29M |
| Dividend Yield | 1.5% | 1.3% | 1.6% | 1.8% | 2.4% | 2.6% | 3.6% | 3.1% | 9.2% | 3.0% | 2.7% | 2.8% | 3.1% |
| Share Buybacks | 0 | 0 | 21M | 0 | 4.2M | 68M | 99M | 43M | 30M | 76M | 43M | 183M | 242M |
| Buyback Yield | N/A | N/A | 2.1% | N/A | 0.4% | 6.2% | 12.3% | 4.2% | 2.8% | 7.7% | 3.4% | 18.1% | 26.2% |
| Stock-Based Comp | 6.0M | 4.6M | 5.8M | 6.8M | 9.4M | 10M | 9.7M | 9.1M | 5.1M | 6.2M | 6.3M | 5.0M | 5.4M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -2.3B | -25M | -51M | -57M | -106M | -155M | -172M | -66M | -208M | -77M | -68M | -135M | -43M |
| Cash & Equiv. | 104M | 57M | 67M | 73M | 101M | 155M | 160M | 75M | 89M | 226M | 68M | 160M | 168M |
| Long-Term Debt | 32M | 32M | 32M | 20M | 20M | 0 | 15M | 20M | 0 | 183M | 0 | 19M | 125M |
| Debt/Equity | 0.13 | 0.04 | 0.04 | 0.02 | 0.02 | 0.00 | 0.01 | 0.02 | 0.00 | 0.18 | 0.00 | 0.04 | 0.14 |
| Interest Coverage | 35.5 | 36.8 | 87.9 | 102.9 | 113.0 | 323.0 | 369.3 | 294.0 | 15.9 | 25.6 | 1467.0 | 24.0 | 24.0 |
| Equity | 687M | 761M | 841M | 948M | 1.0B | 1.2B | 1.2B | 1.2B | 944M | 1.0B | 1.1B | 956M | 867M |
| Total Assets | 3.8B | 3.8B | 3.8B | 3.8B | 3.9B | 4.0B | 3.9B | 3.8B | 3.7B | 3.6B | 3.5B | 3.4B | 3.4B |
| Total Liabilities | 3.1B | 3.0B | 2.9B | 2.9B | 2.9B | 2.8B | 2.7B | 2.6B | 2.8B | 2.5B | 2.5B | 2.5B | 2.6B |
| Intangibles | 9.0M | 8.5M | 8.2M | 7.9M | 7.7M | 14M | 14M | 14M | 14M | 14M | 14M | 14M | 14M |
| Retained Earnings | 595M | 682M | 777M | 842M | 1.0B | 1.2B | 1.2B | 1.3B | 1.3B | 1.4B | 1.5B | 1.5B | 1.5B |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||||||
| EPS | 3.14 | 2.90 | 3.24 | 3.06 | 4.24 | 4.83 | 3.97 | 4.17 | 1.75 | 4.45 | 4.71 | 0.46 | 0.28 |
| Owner EPS | 4.95 | 3.18 | 3.29 | 3.85 | 4.94 | 3.18 | 0.50 | -0.20 | 2.64 | 0.82 | 2.12 | 1.09 | 0.70 |
| Book Value | 21.42 | 23.37 | 25.53 | 28.66 | 30.55 | 35.84 | 40.19 | 42.40 | 34.14 | 38.20 | 42.44 | 40.71 | 46.59 |
| Cash Flow/Share | 5.36 | 3.58 | 3.73 | 4.30 | 5.41 | 3.77 | 1.09 | 0.38 | 3.61 | 1.86 | 3.03 | 1.90 | 1.18 |
| Dividends/Share | 0.24 | 0.24 | 0.36 | 0.60 | 0.80 | 0.88 | 1.00 | 1.00 | 3.28 | 1.10 | 1.18 | 1.26 | 1.54 |
| Shares Out. | 32.1M | 32.6M | 32.9M | 33.1M | 33.3M | 32.5M | 30.2M | 28.6M | 27.7M | 26.5M | 25.2M | 23.5M | 18.6M |
| Valuation | |||||||||||||
| P/E Ratio | 5.5 | 7.2 | 9.3 | 11.3 | 7.7 | 7.0 | 6.7 | 8.4 | 22.4 | 8.4 | 10.5 | 93.3 | 175.5 |
| P/FCF | 3.2 | 5.8 | 8.1 | 8.1 | 6.1 | 9.0 | 24.5 | 95.5 | 10.9 | 20.1 | 16.3 | 22.6 | 29.1 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.8 | 1.1 | 1.0 | 1.2 | 1.1 | 1.1 |
| Price/Sales | 0.7 | 0.8 | 1.0 | 1.3 | 1.4 | 1.3 | 1.2 | 1.3 | 1.4 | 1.2 | 1.3 | 1.2 | 1.1 |
| FCF Yield | 30.8% | 17.1% | 12.3% | 12.4% | 16.4% | 11.1% | 4.1% | 1.0% | 9.2% | 5.0% | 6.1% | 4.4% | 3.4% |
| Market Cap | 556M | 679M | 991M | 1.1B | 1.1B | 1.1B | 806M | 1.0B | 1.1B | 994M | 1.2B | 1.0B | 926M |
| Avg. Price | 15.98 | 18.17 | 22.51 | 32.28 | 33.35 | 33.95 | 27.80 | 33.13 | 35.44 | 37.29 | 43.78 | 44.79 | 49.79 |
| Year-End Price | 17.33 | 20.86 | 30.10 | 34.64 | 32.85 | 33.60 | 26.70 | 35.06 | 39.18 | 37.46 | 49.47 | 42.92 | 49.79 |
Employers Holdings, Inc. passes 2 of 9 quality checks, indicating weak fundamentals.
Employers Holdings, Inc. trades at 108.2x trailing earnings, compared to its 15-year median P/E of 8.9x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 21.7x vs a median of 13.6x. The company's 5-year average ROIC is 7.3% with a gross margin of 46.6%. Total shareholder yield (dividends + buybacks) is 29.3%. At current prices, the estimated annualized return to fair value is -0.3%.
Employers Holdings, Inc. (EIG) reported annual revenue of $859 million in its most recent fiscal year, based on SEC EDGAR filings.
Employers Holdings, Inc. (EIG) has a net profit margin of 1.3%. This is a modest margin.
Employers Holdings, Inc. (EIG) generated $45 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Employers Holdings, Inc. (EIG) has a debt-to-equity ratio of 0.04. This indicates a conservatively financed balance sheet.
Employers Holdings, Inc. (EIG) reported earnings per share (EPS) of $0.46 in its most recent fiscal year.
Employers Holdings, Inc. (EIG) has a return on equity (ROE) of 1.1%. This indicates moderate shareholder returns.
Employers Holdings, Inc. (EIG) has a 5-year average gross margin of 46.6%. This indicates decent pricing power.
The Ledger Terminal provides 17 years of financial data for Employers Holdings, Inc. (EIG), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Employers Holdings, Inc. (EIG) has a book value per share of $40.71, based on its most recent annual SEC filing.