AJG vs WTW
Arthur J. Gallagher & Co. and Willis Towers Watson PLC, side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | AJG | WTW |
|---|---|---|
| Revenue | $13.9B | $9.7B |
| Net income | $1.5B | $1.6B |
| Gross margin | · | · |
| Net margin | 10.8% | 16.6% |
| Return on equity | 6.9% | 20.2% |
| Diluted EPS | $5.74 | $16.26 |
| Dividend / share | $2.60 | $3.68 |
| Payout ratio | 44.6% | 22.3% |
| Free cash flow | · | $1.5B |
| Equity | $23.3B | $8.0B |
| Net debt / equity | 0.49× | 0.40× |
| Current ratio | 1.06× | 1.20× |
| Revenue CAGR 5y | 14.8% | 2.4% |
| Profit CAGR 5y | 12.8% | 10.0% |
AJG bills 1.4× the revenue of WTW, and WTW keeps more of each dollar of revenue as profit (16.6% 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 | WTW |
|---|---|---|
| FY2025 | $13.9B | $9.7B |
| FY2024 | $11.6B | $9.9B |
| FY2023 | $10.1B | $9.5B |
| FY2022 | $8.6B | $8.9B |
| FY2021 | $8.2B | $9.0B |
| FY2020 | $7.0B | $8.6B |
| FY2019 | $7.2B | $8.4B |
| FY2018 | $6.9B | $8.5B |
| FY2017 | $6.2B | $8.2B |
| FY2016 | $5.7B | $7.9B |
Bottom line
| Fiscal year | AJG | WTW |
|---|---|---|
| FY2025 | $1.5B | $1.6B |
| FY2024 | $1.5B | $-98.0M |
| FY2023 | $970.0M | $1.1B |
| FY2022 | $1.1B | $1.0B |
| FY2021 | $906.8M | $4.2B |
| FY2020 | $818.8M | $996.0M |
| FY2019 | $668.8M | $1.0B |
| FY2018 | $633.5M | $695.0M |
| FY2017 | $481.3M | $568.0M |
| FY2016 | $396.8M | $420.0M |
18 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$4,234,000,000 | AJG |
| FY2024 | +$1,625,000,000 | AJG |
| FY2023 | +$589,000,000 | AJG |
| FY2022 | −$315,400,000 | WTW |
| FY2021 | −$788,600,000 | WTW |
| FY2020 | −$1,611,400,000 | WTW |
| FY2019 | −$1,175,000,000 | WTW |
| FY2018 | −$1,579,000,000 | WTW |
| FY2017 | −$1,953,000,000 | WTW |
| FY2016 | −$2,206,500,000 | WTW |
| FY2015 | +$1,563,400,000 | AJG |
| FY2014 | +$824,500,000 | AJG |
| FY2013 | −$475,400,000 | WTW |
| FY2012 | −$959,700,000 | WTW |
| FY2011 | −$1,312,300,000 | WTW |
| FY2010 | −$1,467,800,000 | WTW |
| FY2009 | −$1,523,700,000 | WTW |
| FY2008 | −$1,182,000,000 | WTW |
The higher-revenue side has changed between AJG and WTW 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 | −5.8 pp | WTW |
| FY2024 | +13.6 pp | AJG |
| FY2023 | −1.6 pp | WTW |
| FY2022 | +1.5 pp | AJG |
| FY2021 | −35.4 pp | WTW |
| FY2020 | +0.4 pp | AJG |
| FY2019 | −2.9 pp | WTW |
| FY2018 | +1.3 pp | AJG |
| FY2017 | +1.1 pp | AJG |
| FY2016 | +2.0 pp | AJG |
| FY2015 | −2.8 pp | WTW |
| FY2014 | −2.7 pp | WTW |
| FY2013 | −1.4 pp | WTW |
| FY2012 | +20.2 pp | AJG |
| FY2011 | +0.4 pp | AJG |
| FY2010 | −4.8 pp | WTW |
| FY2009 | −6.7 pp | WTW |
| FY2008 | −6.8 pp | WTW |
The higher net margin has changed hands between AJG and WTW over this period.
18 of 18 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
WTW's net margin has been more volatile than AJG's over the 18 comparable fiscal years — 10.9 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 WTW over these 18 fiscal years — AJG led in 8 and WTW in 10.
18 of 18 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
WTW's return on equity has been more volatile than AJG's over the 18 comparable fiscal years — 11.3 percentage points of standard deviation against 2.5.
18 of 18 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between AJG and WTW over these 18 fiscal years — AJG led in 9 and WTW in 9.
18 of 18 comparable fiscal years — a year missing data on either side is not counted.