Erie Indemnity Co (ERIE) is overvalued and Willis Towers Watson Public Limited Co (WTW) is overvalued.
Both trade above our estimate of their intrinsic value. WTW is the closer of the two: -39%, against -64% for ERIE.
Values as of the 22 Sept 2026 close.
Book value at 2.50x, the multiple a 24.8% return on equity justifies, blended with earnings, values the shares at $142.88; the price of $234.38 is 64% above that value.
Leak Score 44/100 on 2 of 12 signals
Book value at 2.50x, the multiple a 19.8% return on equity justifies, blended with earnings, values the shares at $216.79; the price of $301.73 is 39% above that value.
Leak Score 43/100 on 3 of 12 signals
| Metric | ERIE | WTW |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $234.38 | $301.73 |
| Intrinsic value | $142.88 | $216.79 |
| Margin of safety | -64% | -39% |
| Leak Score | 44/100 (2/12) | 43/100 (3/12) |
| Market cap | $10.9B | $28.0B |
| Revenue growth, 5 years | 9.9% | 2.4% |
| Operating margin | 17.9% | 23.4% |
| Net margin | 14.0% | 15.5% |
| Return on equity | 24.8% | 19.8% |
| Debt to equity | 0.00 | 0.92 |
| P/E | 21.4x | 18.6x |
| Forward P/E | — | 13.2x |
| P/B | 4.4x | 3.6x |
| Dividend yield | 2.5% | 1.3% |