Employers Holdings, Inc.

Finance
Property-Casualty Insurers
www.employers.com

Earnings Score
Moat Score

Market Cap $1.29B
PE 10
Debt $NaN
Cash $143.50M
EV $NaN
FCF $87.00M

Earnings

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Sales & Net Margins

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Earnings	$135.90M
EBIT	$176.00M
ROE	12%
ROA	5%
FCF	$87.00M
Equity	$1.09B
Growth Stability	37%
PE	9.51
PEG	-47.96
PB	1.18
P/FCF	14.86
P/S	1.45
Price/Cash	0.11
Net Margins	14%
Op. Margins	20%
Earnings CAGR	-1%
Sales Growth YoY	10%
Sales Growth QoQ	3%
Sales CAGR	0%
FCF CAGR	-11%
Equity CAGR	4%
Earnings Stability	0.01
Earnings Growth YoY	116%

Earnings Growth QoQ	-4%
Earnings CAGR 5Y	-0%
Sales CAGR 5Y	4%
FCF CAGR 5Y	8%
Equity CAGR 5Y	-4%
Earnings CAGR 3Y	12%
Sales CAGR 3Y	12%
FCF CAGR 3Y	39%
Equity CAGR 3Y	-2%
Market Cap	$1.29B
Revenue	$889.80M
Dividend Yield	2%
Payout Ratio	22%
Assets	$3.62B
Cash	$143.50M
Shares Outstanding	24.74M
Earnings Score	6%
Moat Score	81%
Shares Growth 3y	-5%
Equity Growth QoQ	7%
Equity Growth YoY	19%

Assets & ROA

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Stockholders Equity & ROE

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Employers Holdings Inc provides workers' compensation insurance, primarily to small businesses in low- to medium hazard industries. Its customers are employers, and the insurance premiums that those employers pay account for more than 90% of total company revenue. Substantially all of the remaining revenue is generated through investments. The company operates exclusively in the United States, and it generates more than half of its business in California. By industry, the company has the most exposure to restaurants, which account for roughly a fourth of the total premiums the company earns.

SEC Filings

Direct access to Employers Holdings, Inc. (EIG) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Employers Holdings, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Employers Holdings, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR -1%

Stability 1%

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Employers Holdings, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Employers Holdings, Inc..

Years

Calculation mode

= $427M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$87M	$77M	$69M	$61M	$54M	$48M	$43M	$38M	$34M	$30M	$27M	$269M
DCF		$70M	$57M	$46M	$37M	$30M	$24M	$20M	$16M	$13M	$10M	$104M
Value	$427M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	13%	13%	14%	13%	18%	19%	17%	17%	7%	14%	14%
ROA	-	3%	4%	4%	4%	5%	4%	4%	2%	4%	5%
ROE	-	12%	13%	11%	14%	13%	10%	10%	5%	12%	12%

Good Net Margins (13.6%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	-	-	-	-	-	-	-	-	-	-
Debt over Equity	-	-	-	-	-	-	-	-	-	-	-
Growth Stability	-	-	-	100%	100%	100%	90%	86%	37%	100%	37%

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Neutral Debt/Equity ratio (-)

The company has a balance between equity and debt that is not too good nor too bad.

Bad Graham’s Stability (37%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	-3%	4%	3%	-0%	4%	-15%	-1%	1%	19%	4%
Earnings YoY growth	-	-6%	13%	-5%	40%	11%	-24%	-0%	-59%	144%	-0%
Equity YoY growth	-	11%	10%	13%	7%	14%	4%	0%	-22%	7%	-4%
FCF YoY growth	-	-34%	12%	14%	27%	-35%	-75%	-74%	1K%	-51%	8%