The company maintains a conservative financial profile, evidenced by an exceptionally low debt-to-equity ratio of 0.04% that supports a stable asset base of approximately $3.4 billion.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 |
|---|
| Total Assets | 3.44B | 3.44B | 3.54B | 3.55B | 3.72B | 3.78B | 3.92B | 4B | 3.92B | 3.84B | 3.77B | 3.76B | 3.77B | 3.64B | 3.51B | 3.48B | 3.48B | 3.68B | 3.76B | 3.19B | 3.2B | 3.09B |
| Asset Growth % | -9.04% | -2.96% | -0.26% | -4.47% | -1.76% | -3.55% | -2.04% | 2.17% | 2.06% | 1.77% | 0.47% | -0.37% | 3.46% | 3.76% | 0.81% | 0.08% | -5.35% | -2.13% | 17.72% | -0.14% | 3.28% | - |
| Total Investment Assets | 4M | 2.34B | 2.46B | 778.3M | 2.57B | 2.74B | 2.76B | 2.78B | 2.73B | 2.68B | 2.55B | 2.49B | 2.45B | 2.34B | 2.15B | 1.95B | 2.08B | 2.03B | 2.12B | 1.73B | 1.72B | 1.6B |
| Long-Term Investments | 6.6B | 1.29B | 366.4M | 91.5M | 263.4M | 382.8M | 2.72B | 2.75B | 2.73B | 2.68B | 2.55B | 2.49B | 2.45B | 2.34B | 2.15B | 1.95B | 2.08B | 2.03B | 2.04B | 1.73B | 1.72B | 1.6B |
| Short-Term Investments | 0 | 1.04B | 2.1B | 686.8M | 2.31B | 2.35B | 2.51B | 2.49B | 25M | 4M | 2.55B | 2.49B | 2.45B | 2.34B | 2.15B | 0 | 0 | 0 | 75.02M | 0 | 7.99M | 15.01M |
| Total Current Assets | 2.83B | 1.96B | 2.97B | 1.72B | 3.18B | 3.19B | 0 | 0 | 1B | 77.3M | 83.2M | 56.6B | 103.57M | 34.5M | 140.66M | 252.3M | 119.83M | 191.57M | 277.92M | 149.7M | 87.97M | 135.9M |
| Cash & Equivalents | 2.49B | 159.8M | 68.3M | 226.4M | 89.2M | 75.1M | 160.4M | 154.9M | 101.4M | 73.3M | 67.2M | 56.6M | 103.57M | 34.5M | 140.66M | 252.3M | 119.83M | 191.57M | 202.89M | 149.7M | 79.98M | 61.08M |
| Receivables | 2.68B | 758.6M | 799.6M | 807.4M | 790.1M | 742.4M | 749.7M | 838.6M | 0 | 0 | 0 | 966.2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 59.81M |
| Other Current Assets | 0 | 200K | 200K | 0 | 200K | 14.7M | -3.42B | -3.48B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Goodwill & Intangibles | 382.9M | 106.9M | 109.4M | 49.8M | 98.1M | 49.8M | 49.8M | 49.7M | 43.9M | 44.1M | 44.4M | 44.7M | 45.23M | 45.88M | 46.75M | 47.92M | 49.47M | 51.63M | 54.41M | 0 | 0 | 0 |
| Goodwill | 36.2M | 36.2M | 36.2M | 36.2M | 36.2M | 36.2M | 36.2M | 36.2M | 36.2M | 36.2M | 36.2M | 36.2M | 36.19M | 36.19M | 36.19M | 36.19M | 36.19M | 36.19M | 36.19M | 0 | 0 | 0 |
| Intangible Assets | 13.6M | 70.7M | 73.2M | 13.6M | 61.9M | 13.6M | 13.6M | 13.5M | 7.7M | 7.9M | 8.2M | 8.5M | 9.03M | 9.69M | 10.56M | 11.73M | 13.28M | 15.44M | 18.22M | 0 | 0 | 0 |
| PP&E (Net) | 0 | 10.2M | 11.5M | 11.6M | 23.5M | 28.9M | 36.5M | 37.8M | 18.2M | 13.9M | 22.2M | 24.9M | 21.03M | 16.62M | 14.68M | 11.36M | 11.71M | 13.06M | 14.1M | 14.13M | 15.6M | 10.12M |
| Other Assets | -2.38B | 47.8M | 50.1M | 3.18B | 84.1M | 136.3M | -2.81B | -2.84B | -26.9M | -2.68B | -2.55B | 67.04B | -2.45B | -2.34B | -2.15B | -1.95B | -2.08B | -2.03B | -2.04B | -1.73B | -1.72B | -1.61B |
| Total Liabilities | 2.57B | 2.48B | 2.47B | 2.54B | 2.77B | 2.57B | 2.71B | 2.84B | 2.9B | 2.89B | 2.93B | 3B | 3.08B | 3.07B | 2.97B | 3.01B | 2.99B | 3.18B | 3.31B | 2.81B | 2.89B | 2.95B |
| Total Debt | 125M | 38.9M | 4.2M | 5.9M | 196.1M | 16.6M | 39.9M | 17.8M | 20M | 20M | 32M | 32M | 92M | 102M | 112M | 122M | 132M | 132M | 182M | 36.4M | 0 | 0 |
| Net Debt | -2.36B | -120.9M | -64.1M | -220.5M | 106.9M | -58.5M | -120.5M | -137.1M | -81.4M | -53.3M | -35.2M | -24.6M | -11.57M | 67.5M | -28.66M | -130.3M | 12.18M | -59.57M | -20.89M | -113.3M | -79.98M | -61.08M |
| Long-Term Debt | 125M | 16M | 0 | 0 | 182.5M | 0 | 20M | 0 | 20M | 20M | 32M | 32M | 92M | 102M | 112M | 122M | 132M | 132M | 182M | 0 | 0 | 0 |
| Short-Term Debt | 0 | 19M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 55.2M | 2.39B | 2.39B | 1.45B | 2.49B | 2.47B | 0 | 0 | 37.1M | 55.3M | 48.8M | 52.5B | 46.28M | 45.31M | 1.89M | 1.99M | 4.05M | 4.09M | 11.04M | 7.49M | 6.78M | 13.44M |
| Accounts Payable | 0 | 23.4M | 21.2M | 26.1M | 28.7M | 24.1M | 22.9M | 29.8M | 37.1M | 23.7M | 24.2M | 24.1M | 20.4M | 18.71M | 19.52M | 14.99M | 18.6M | 19.03M | 36.88M | 6.8M | 22.18M | 13.44M |
| Deferred Revenue | 0 | 391.9M | 402.2M | 0 | 339.5M | 0 | 0 | 0 | 35.7M | -1.1M | -1.6M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 55.2M | 1.89B | 1.9B | 1.29B | 2.07B | 2.41B | -65.9M | -78.4M | -37.1M | -134.3M | -121.8M | -129.1M | -20.41M | -109.34M | -58.45M | -41.91M | -31.87M | -35.7M | -25.84M | -13.19M | -39.66M | -33.31M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 1000K | 1000K | 1000K | 1000K | -1000K | -1000K | 1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | 0 | 0 | 0 | 0 |
| Other Liabilities | 1.97B | -15M | -17M | 2.43B | -22.9M | -42.8M | -180.8M | -157.5M | 2.67B | 2.71B | 2.73B | 2.77B | 2.99B | 2.72B | 2.58B | -122M | 2.48B | 2.65B | 3.12B | 2.8B | 2.89B | 0 |
| Total Equity | 866.5M | 955.7M | 1.07B | 1.01B | 944.2M | 1.21B | 1.21B | 1.17B | 1.02B | 947.7M | 840.6M | 760.8M | 686.84M | 568.7M | 539.38M | 473.64M | 490.12M | 498.4M | 444.73M | 379.45M | 303.78M | 144.61M |
| Equity Growth % | -29.09% | -10.57% | 5.4% | 7.38% | -22.17% | 0.02% | 4.03% | 14.5% | 7.44% | 12.74% | 10.49% | 10.77% | 20.77% | 5.44% | 13.88% | -3.36% | -1.66% | 12.07% | 17.2% | 24.91% | 110.07% | - |
| Shareholders Equity | 866.5M | 955.7M | 1.07B | 1.01B | 944.2M | 1.21B | 1.21B | 1.17B | 1.02B | 947.7M | 840.6M | 760.8M | 686.84M | 568.7M | 539.38M | 473.64M | 490.12M | 498.4M | 444.73M | 379.45M | 303.78M | 144.61M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | 1.46B | 1.45B | 1.47B | 1.38B | 1.3B | 1.34B | 1.25B | 1.16B | 1.03B | 842.2M | 777.2M | 682M | 595.32M | 502.2M | 445.85M | 358.14M | 319.34M | 266.49M | 194.51M | 104.54M | 274.6M | 103.03M |
| Common Stock | 429.1M | 600K | 600K | 600K | 600K | 600K | 600K | 600K | 389.4M | 381.8M | 600K | 600K | 549K | 547K | 542K | 540K | 538K | 536K | 535K | 535K | 0 | 0 |
| Accumulated OCI | -9M | 7.3M | -82.5M | -86M | -138.9M | 60.6M | 115.1M | 65.3M | -13.7M | 107.4M | 74.5M | 83.6M | 106.92M | 90.42M | 129.55M | 116.72M | 84.13M | 83.81M | 32.8M | 46.52M | 29.18M | 41.58M |
| Return on Equity (ROE) | 0.83% | 1.07% | 11.39% | 12.06% | 4.49% | 9.84% | 10.07% | 14.39% | 14.38% | 11.32% | 13.33% | 13.04% | 16.04% | 11.52% | 21.1% | 10.09% | 12.84% | 17.61% | 24.7% | 35.21% | 76.53% | 95.15% |
| Return on Assets (ROA) | 0.24% | 0.31% | 3.34% | 3.25% | 1.29% | 3.1% | 3.02% | 3.97% | 3.64% | 2.66% | 2.83% | 2.51% | 2.72% | 1.78% | 3.06% | 1.4% | 1.77% | 2.23% | 2.93% | 3.77% | 5.46% | 4.45% |
| Equity / Assets | 25.21% | 27.81% | 30.18% | 28.56% | 25.4% | 32.07% | 30.92% | 29.12% | 25.98% | 24.68% | 22.28% | 20.26% | 18.22% | 15.61% | 15.36% | 13.6% | 14.08% | 13.56% | 11.84% | 11.89% | 9.51% | 4.67% |
| Debt / Equity | 0.14x | 0.04x | 0.00x | 0.01x | 0.21x | 0.01x | 0.03x | 0.02x | 0.02x | 0.02x | 0.04x | 0.04x | 0.13x | 0.18x | 0.21x | 0.26x | 0.27x | 0.26x | 0.41x | 0.10x | - | - |
| Book Value per Share | 35.90 | 39.60 | 42.42 | 38.23 | 34.11 | 42.41 | 40.15 | 35.83 | 30.57 | 28.67 | 25.49 | 23.37 | 21.42 | 17.81 | 17.01 | 12.66 | 11.80 | 10.81 | 9.03 | 7.31 | 5.68 | 2.74 |
| Tangible BV per Share | 33.84 | 35.17 | 38.08 | 36.35 | 30.57 | 40.67 | 38.50 | 34.30 | 29.25 | 27.33 | 24.14 | 21.99 | 20.01 | 16.37 | 15.54 | 11.38 | 10.61 | 9.69 | 7.92 | 7.31 | 5.68 | 2.74 |
California regulatory and loss concentration
As reported in recent financial statements, EIG has maintained a relatively stable total asset base of approximately $3.4 billion to $3.6 billion over the last ten quarters, suggesting that the company is successfully preserving its capital foundation despite the significant underwriting volatility observed in recent periods.
The consistency in total assets indicates that management is prioritizing balance sheet preservation over aggressive expansion during this period of margin compression. Investors should monitor whether this stability is a result of disciplined capital retention or a lack of profitable growth opportunities within their core workers' compensation niche.
Based on the provided quarterly data, claims and loss reserves have fluctuated significantly, reaching a peak of $209.6 million in 2025Q3, which highlights the inherent difficulty in estimating long-tail liabilities within the company's specialized small business workers' compensation insurance portfolio.
The wide variance in quarterly loss figures suggests that EIG may be experiencing unpredictable claim severity, which complicates the reserve-setting process. This volatility warrants further investigation into whether prior-year reserve developments are masking underlying trends in current-period underwriting performance.
According to historical balance sheet data, EIG maintains an exceptionally low debt-to-equity ratio of 0.04%, providing a robust capital buffer that appears to insulate the company from the immediate financial distress often associated with the underwriting losses seen in the 2025Q4 period.
This minimal reliance on debt suggests a fortress-like approach to capital structure, which is appropriate for a mono-line insurer exposed to regional regulatory risks. While this conservatism limits financial leverage, it provides the necessary flexibility to absorb potential shocks from the California market without jeopardizing solvency.
Financial disclosures indicate that EIG maintains a heavy reliance on the California market, which may mask underlying underwriting risks and expose the firm to localized regulatory or legal shifts that could disproportionately impact future equity value compared to more geographically diversified commercial insurance peers.
The lack of geographic diversification remains a primary structural risk that could undermine the company's otherwise healthy balance sheet. Investors should consider whether the current valuation adequately reflects the potential for localized legislative changes to force reserve strengthening or mandate premium reductions.
Quick answers to the most common questions about buying EIG stock.
As of 2025, Employers Holdings, Inc. (EIG) had total assets of $3.44B including $1.96B in current assets.
Employers Holdings, Inc. (EIG) carries total debt of $38.9M, offset by $1.20B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Employers Holdings, Inc. (EIG) has total shareholders' equity (book value) of $955.7M ($39.60 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Employers Holdings, Inc. (EIG) reported a current ratio of 0.82x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.