Arthur J. Gallagher
AJG · Insurance Brokers
$268.04
1.1%Erie Indemnity
ERIE · Insurance Brokers
$253.52
1.3%The short version
- Arthur J. Gallagher is the larger business, with $13.9B of revenue in fiscal 2025 against $4.1B for Erie Indemnity, about 3.4 times as much.
- Arthur J. Gallagher grew revenue faster (20.7%, against 7.2%).
- Erie Indemnity turned more of its sales into free cash flow (14.0% FCF margin, against 12.8% FCF margin).
- Erie Indemnity earned a higher return on the capital invested in it (31.8%, against 9.9%).
| Latest fiscal year | AJG · FY25 | ERIE · FY25 |
|---|---|---|
| Size | ||
| Market cap | $68.8B | — |
| Revenue | $13.9B | $4.1B |
| Free cash flow | $1.8B | $571M |
| Net income | $1.5B | $559M |
| Growth | ||
| Revenue growth | 20.7% | 7.2% |
| 5-year growth | 14.8% | 9.9% |
| Share count change | 16.2% | — |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | — | 17.6% |
| Net margin | 10.7% | 13.8% |
| FCF margin | 12.8% | 14.0% |
| Return on capital | 9.9% | 31.8% |
| Return on equity | 6.9% | 26.2% |
| Balance sheet | ||
| Net debt | $12.1B | −$380M |
| Net debt / EBITDA | 3.3x | −0.5x |
| Dividends and buybacks | $667M | $254M |
| Valuation & quality | ||
| P/E | 44.5x | — |
| Piotroski F-score | 3 | — |
FY16
AJG $5.6B
ERIE $1.6B
FY17
AJG $6.2B
ERIE $1.7B
FY18
AJG $6.9B
ERIE $2.4B
FY19
AJG $7.2B
ERIE $2.5B
FY20
AJG $7.0B
ERIE $2.5B
FY21
AJG $8.2B
ERIE $2.6B
FY22
AJG $8.6B
ERIE $2.8B
FY23
AJG $10.1B
ERIE $3.3B
FY24
AJG $11.6B
ERIE $3.8B
FY25
AJG $13.9B
ERIE $4.1B
AJG
ERIE
FY16
AJG —
ERIE 18.4%
FY17
AJG —
ERIE 17.2%
FY18
AJG —
ERIE 14.5%
FY19
AJG —
ERIE 14.4%
FY20
AJG —
ERIE 13.3%
FY21
AJG —
ERIE 12.1%
FY22
AJG —
ERIE 13.3%
FY23
AJG —
ERIE 15.9%
FY24
AJG —
ERIE 17.8%
FY25
AJG —
ERIE 17.6%
AJG
ERIE
FY16
AJG $432M
ERIE $229M
FY17
AJG $725M
ERIE $168M
FY18
AJG $641M
ERIE $207M
FY19
AJG $1.1B
ERIE $262M
FY20
AJG $1.7B
ERIE $287M
FY21
AJG $1.3B
ERIE $254M
FY22
AJG $1.2B
ERIE $299M
FY23
AJG $1.8B
ERIE $289M
FY24
AJG $2.4B
ERIE $486M
FY25
AJG $1.8B
ERIE $571M
AJG
ERIE
FY16
AJG 12.1%
ERIE —
FY17
AJG 12.5%
ERIE 26.5%
FY18
AJG 14.9%
ERIE 47.7%
FY19
AJG 16.8%
ERIE 45.1%
FY20
AJG 19.3%
ERIE 27.4%
FY21
AJG 16.7%
ERIE 21.7%
FY22
AJG 15.5%
ERIE 23.9%
FY23
AJG 12.5%
ERIE 30.4%
FY24
AJG 22.2%
ERIE 34.8%
FY25
AJG 9.9%
ERIE 31.8%
AJG
ERIE
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.