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Arthur J. Gallagher vs Erie Indemnity: revenue, profit, margins and growth compared

Arthur J. Gallagher brought in $13.9B of revenue in fiscal 2025, Erie Indemnity $4.1B in fiscal 2025. Revenue changed by +20.7% at Arthur J. Gallagher and +7.2% at Erie Indemnity on the year before, so Arthur J. Gallagher grew faster. Arthur J. Gallagher kept 10.7% of its revenue as net profit, Erie Indemnity 13.8%. Free cash flow was $1.8B at Arthur J. Gallagher and $571M at Erie Indemnity.

Side by side, latest fiscal year

AJGERIE
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$13.9B$4.1B
Revenue growth+20.7%+7.2%
Net income$1.5B$559.3M
Net margin10.7%13.8%
Free cash flow$1.8B$571M
Free cash flow margin12.8%14.0%
Earnings per share (diluted)$5.74n/a
Cash$1.4B$345.9M
Debt$12.9Bn/a
Price to earnings40.3n/a
Market value$59.2B$10.3B
Dividend yield1.13%n/a
Rank by revenue in sector#49 of 444 · Finance#108 of 444 · Finance

Over the years

Revenue
AJG FY2018: $6.9BAJG FY2019: $7.2BAJG FY2020: $7BAJG FY2021: $8.2BAJG FY2022: $8.6BAJG FY2023: $10.1BAJG FY2024: $11.6BAJG FY2025: $13.9BERIE FY2018: $2.4BERIE FY2019: $2.5BERIE FY2020: $2.5BERIE FY2021: $2.6BERIE FY2022: $2.8BERIE FY2023: $3.3BERIE FY2024: $3.8BERIE FY2025: $4.1BFY18FY19FY20FY21FY22FY23FY24FY25
AJG $13.9BERIE $4.1B
Net income
AJG FY2018: $633.5MAJG FY2019: $668.8MAJG FY2020: $818.8MAJG FY2021: $906.8MAJG FY2022: $1.1BAJG FY2023: $970MAJG FY2024: $1.5BAJG FY2025: $1.5BERIE FY2018: $288.2MERIE FY2019: $316.8MERIE FY2020: $293.3MERIE FY2021: $297.9MERIE FY2022: $298.6MERIE FY2023: $446.1MERIE FY2024: $600.3MERIE FY2025: $559.3MFY18FY19FY20FY21FY22FY23FY24FY25
AJG $1.5BERIE $559.3M
Net margin
AJG FY2018: 9.1%AJG FY2019: 9.3%AJG FY2020: 11.7%AJG FY2021: 11.0%AJG FY2022: 13.0%AJG FY2023: 9.6%AJG FY2024: 12.7%AJG FY2025: 10.7%ERIE FY2018: 12.1%ERIE FY2019: 12.8%ERIE FY2020: 11.6%ERIE FY2021: 11.3%ERIE FY2022: 10.5%ERIE FY2023: 13.6%ERIE FY2024: 15.8%ERIE FY2025: 13.8%FY18FY19FY20FY21FY22FY23FY24FY25
AJG 10.7%ERIE 13.8%
Revenue growth
AJG FY2019: +3.8%AJG FY2020: -2.7%AJG FY2021: +17.2%AJG FY2022: +4.2%AJG FY2023: +17.8%AJG FY2024: +14.7%AJG FY2025: +20.7%ERIE FY2019: +4.0%ERIE FY2020: +2.4%ERIE FY2021: +3.8%ERIE FY2022: +7.8%ERIE FY2023: +15.1%ERIE FY2024: +16.1%ERIE FY2025: +7.2%FY19FY20FY21FY22FY23FY24FY25
AJG +20.7%ERIE +7.2%
Free cash flow
AJG FY2018: $640.7MAJG FY2019: $1.1BAJG FY2020: $1.7BAJG FY2021: $1.3BAJG FY2022: $1.2BAJG FY2023: $1.8BAJG FY2024: $2.4BAJG FY2025: $1.8BERIE FY2018: $207.3MERIE FY2019: $262.5MERIE FY2020: $287.1MERIE FY2021: $254MERIE FY2022: $298.9MERIE FY2023: $288.6MERIE FY2024: $486.4MERIE FY2025: $571MFY18FY19FY20FY21FY22FY23FY24FY25
AJG $1.8BERIE $571M

Fiscal years as each company reports them; the two may end in different months.

Questions about Arthur J. Gallagher and Erie Indemnity

Which is bigger by revenue, Arthur J. Gallagher or Erie Indemnity?

Arthur J. Gallagher is bigger by revenue: $13.9B in fiscal 2025, against $4.1B for Erie Indemnity in fiscal 2025.

Which keeps more of its revenue as profit, Arthur J. Gallagher or Erie Indemnity?

Arthur J. Gallagher had a net margin of 10.7% in fiscal 2025; Erie Indemnity had 13.8% in fiscal 2025.

Which grew revenue faster, Arthur J. Gallagher or Erie Indemnity?

In their latest fiscal years revenue changed by +20.7% at Arthur J. Gallagher and +7.2% at Erie Indemnity.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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