AJG vs ERIE
Arthur J. Gallagher & Co. and Erie Indemnity Co., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | AJG | ERIE |
|---|---|---|
| Revenue | $13.9B | $4.1B |
| Net income | $1.5B | $559.3M |
| Gross margin | · | · |
| Net margin | 10.8% | 13.8% |
| Return on equity | 6.9% | 26.2% |
| Diluted EPS | $5.74 | · |
| Dividend / share | $2.60 | · |
| Payout ratio | 44.6% | 45.5% |
| Free cash flow | · | $571.0M |
| Equity | $23.3B | $2.3B |
| Net debt / equity | 0.49× | · |
| Current ratio | 1.06× | 1.27× |
| Revenue CAGR 5y | 14.8% | 9.9% |
| Profit CAGR 5y | 12.8% | 13.8% |
AJG bills 3.4× the revenue of ERIE, and ERIE keeps more of each dollar of revenue as profit (13.8% against 10.8%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | AJG | ERIE |
|---|---|---|
| FY2025 | $13.9B | $4.1B |
| FY2024 | $11.6B | $3.8B |
| FY2023 | $10.1B | $3.3B |
| FY2022 | $8.6B | $2.8B |
| FY2021 | $8.2B | $2.6B |
| FY2020 | $7.0B | $2.5B |
| FY2019 | $7.2B | $2.5B |
| FY2018 | $6.9B | $2.4B |
| FY2017 | $6.2B | $1.7B |
| FY2016 | $5.7B | $1.6B |
Bottom line
| Fiscal year | AJG | ERIE |
|---|---|---|
| FY2025 | $1.5B | $559.3M |
| FY2024 | $1.5B | $600.3M |
| FY2023 | $970.0M | $446.1M |
| FY2022 | $1.1B | $298.6M |
| FY2021 | $906.8M | $297.9M |
| FY2020 | $818.8M | $293.3M |
| FY2019 | $668.8M | $316.8M |
| FY2018 | $633.5M | $288.2M |
| FY2017 | $481.3M | $197.0M |
| FY2016 | $396.8M | $210.4M |
18 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$9,874,742,000 | AJG |
| FY2024 | +$7,759,885,000 | AJG |
| FY2023 | +$6,803,060,000 | AJG |
| FY2022 | +$5,710,476,000 | AJG |
| FY2021 | +$5,575,423,000 | AJG |
| FY2020 | +$4,467,111,000 | AJG |
| FY2019 | +$4,717,702,000 | AJG |
| FY2018 | +$4,551,788,000 | AJG |
| FY2017 | +$4,557,226,000 | AJG |
| FY2016 | +$4,083,869,000 | AJG |
| FY2015 | +$3,886,892,000 | AJG |
| FY2014 | +$3,219,381,000 | AJG |
| FY2013 | +$1,882,269,000 | AJG |
| FY2012 | −$2,991,700,000 | ERIE |
| FY2011 | −$2,689,300,000 | ERIE |
| FY2010 | −$3,025,800,000 | ERIE |
| FY2009 | −$2,525,700,000 | ERIE |
| FY2008 | −$1,006,000,000 | ERIE |
The higher-revenue side has changed between AJG and ERIE over this period. The gap has widened since the earliest year compared.
18 of 18 comparable fiscal years — a year missing data on either side is not counted.
18 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −3.0 pp | ERIE |
| FY2024 | −3.1 pp | ERIE |
| FY2023 | −4.1 pp | ERIE |
| FY2022 | +2.5 pp | AJG |
| FY2021 | +0.3 pp | AJG |
| FY2020 | +0.7 pp | AJG |
| FY2019 | −2.8 pp | ERIE |
| FY2018 | −2.4 pp | ERIE |
| FY2017 | −3.4 pp | ERIE |
| FY2016 | −5.6 pp | ERIE |
| FY2015 | −4.4 pp | ERIE |
| FY2014 | −33.6 pp | ERIE |
| FY2013 | −71.8 pp | ERIE |
| FY2012 | −3.5 pp | ERIE |
| FY2011 | +1.2 pp | AJG |
| FY2010 | −4.2 pp | ERIE |
| FY2009 | −3.0 pp | ERIE |
| FY2008 | +27.9 pp | AJG |
The higher net margin has changed hands between AJG and ERIE over this period.
18 of 18 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
ERIE's net margin has been more volatile than AJG's over the 18 comparable fiscal years — 19.2 percentage points of standard deviation against 2.2.
18 of 18 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between AJG and ERIE over these 18 fiscal years — AJG led in 5 and ERIE in 13.
18 of 18 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
ERIE's return on equity has been more volatile than AJG's over the 16 comparable fiscal years — 4.0 percentage points of standard deviation against 2.4.
16 of 18 comparable fiscal years — a year missing data on either side is not counted.
Year by year
ERIE led in return on equity in every one of the 16 comparable fiscal years — a structural lead, not a recent swing.
16 of 18 comparable fiscal years — a year missing data on either side is not counted.