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Side-by-side financial comparison of American Assets Trust, Inc. (AAT) and Arthur J. Gallagher & Co. (AJG). Click either name above to swap in a different company.
Arthur J. Gallagher & Co. is the larger business by last-quarter revenue ($3.6B vs $9.6M, roughly 376.1× American Assets Trust, Inc.). On growth, Arthur J. Gallagher & Co. posted the faster year-over-year revenue change (33.6% vs -5.5%). Arthur J. Gallagher & Co. produced more free cash flow last quarter ($713.4M vs $23.0M). Over the past eight quarters, Arthur J. Gallagher & Co.'s revenue compounded faster (5.5% CAGR vs -5.2%).
Personal Assets Trust is a large British investment trust. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. The chairman is Iain Ferguson CBE.
Arthur J. Gallagher & Co. (Gallagher) is an American insurance brokerage and risk management services company based in Rolling Meadows, Illinois, a suburb of Chicago. The company provides insurance brokerage and risk management services, which primarily includes processing of workers compensation and automobile insurance claims via the company's adjusters.
AAT vs AJG — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $9.6M | $3.6B |
| Net Profit | — | $151.1M |
| Gross Margin | — | — |
| Operating Margin | — | 5.0% |
| Net Margin | — | 4.2% |
| Revenue YoY | -5.5% | 33.6% |
| Net Profit YoY | — | -41.5% |
| EPS (diluted) | $0.06 | $0.58 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $9.6M | $3.6B | ||
| Q3 25 | $10.1M | $3.4B | ||
| Q2 25 | $10.2M | $3.2B | ||
| Q1 25 | $9.9M | $3.7B | ||
| Q4 24 | $10.2M | $2.7B | ||
| Q3 24 | $11.4M | $2.8B | ||
| Q2 24 | $10.6M | $2.8B | ||
| Q1 24 | $10.7M | $3.3B |
| Q4 25 | — | $151.1M | ||
| Q3 25 | $4.5M | $272.7M | ||
| Q2 25 | $5.5M | $365.8M | ||
| Q1 25 | $42.5M | $704.4M | ||
| Q4 24 | — | $258.3M | ||
| Q3 24 | $16.7M | $312.6M | ||
| Q2 24 | $11.9M | $283.4M | ||
| Q1 24 | $19.3M | $608.4M |
| Q4 25 | — | 5.0% | ||
| Q3 25 | — | 10.3% | ||
| Q2 25 | — | 14.6% | ||
| Q1 25 | — | 23.4% | ||
| Q4 24 | — | 12.3% | ||
| Q3 24 | — | 14.4% | ||
| Q2 24 | — | 13.2% | ||
| Q1 24 | — | 23.7% |
| Q4 25 | — | 4.2% | ||
| Q3 25 | 44.6% | 8.1% | ||
| Q2 25 | 53.2% | 11.4% | ||
| Q1 25 | 429.3% | 18.9% | ||
| Q4 24 | — | 9.5% | ||
| Q3 24 | 145.5% | 11.1% | ||
| Q2 24 | 111.9% | 10.2% | ||
| Q1 24 | 179.4% | 18.7% |
| Q4 25 | $0.06 | $0.58 | ||
| Q3 25 | $0.07 | $1.04 | ||
| Q2 25 | $0.09 | $1.40 | ||
| Q1 25 | $0.70 | $2.72 | ||
| Q4 24 | $0.14 | $1.10 | ||
| Q3 24 | $0.28 | $1.39 | ||
| Q2 24 | $0.20 | $1.27 | ||
| Q1 24 | $0.32 | $2.74 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $129.4M | — |
| Total DebtLower is stronger | $1.7B | $12.9B |
| Stockholders' EquityBook value | $1.2B | $23.3B |
| Total Assets | $2.9B | $70.7B |
| Debt / EquityLower = less leverage | 1.48× | 0.55× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $129.4M | — | ||
| Q3 25 | $138.7M | — | ||
| Q2 25 | $143.7M | — | ||
| Q1 25 | $143.9M | — | ||
| Q4 24 | $425.7M | — | ||
| Q3 24 | $533.0M | — | ||
| Q2 24 | $114.9M | — | ||
| Q1 24 | $98.6M | — |
| Q4 25 | $1.7B | $12.9B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $2.0B | $23.0M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.2B | $23.3B | ||
| Q3 25 | $1.2B | $23.2B | ||
| Q2 25 | $1.2B | $23.0B | ||
| Q1 25 | $1.2B | $22.3B | ||
| Q4 24 | $1.2B | $20.2B | ||
| Q3 24 | $1.2B | $12.2B | ||
| Q2 24 | $1.2B | $11.6B | ||
| Q1 24 | $1.2B | $11.3B |
| Q4 25 | $2.9B | $70.7B | ||
| Q3 25 | $2.9B | $79.1B | ||
| Q2 25 | $3.0B | $80.1B | ||
| Q1 25 | $3.0B | $74.1B | ||
| Q4 24 | $3.3B | $64.3B | ||
| Q3 24 | $3.4B | $57.2B | ||
| Q2 24 | $3.0B | $63.0B | ||
| Q1 24 | $3.0B | $61.0B |
| Q4 25 | 1.48× | 0.55× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.72× | 0.00× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $40.6M | $753.0M |
| Free Cash FlowOCF − Capex | $23.0M | $713.4M |
| FCF MarginFCF / Revenue | 238.4% | 19.7% |
| Capex IntensityCapex / Revenue | 182.1% | 1.1% |
| Cash ConversionOCF / Net Profit | — | 4.98× |
| TTM Free Cash FlowTrailing 4 quarters | $94.9M | $1.8B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $40.6M | $753.0M | ||
| Q3 25 | $40.5M | $731.3M | ||
| Q2 25 | $49.2M | $-426.1M | ||
| Q1 25 | $36.9M | $871.8M | ||
| Q4 24 | $40.6M | $739.3M | ||
| Q3 24 | $52.4M | $934.8M | ||
| Q2 24 | $59.3M | $119.5M | ||
| Q1 24 | $54.8M | $789.3M |
| Q4 25 | $23.0M | $713.4M | ||
| Q3 25 | $23.1M | $693.5M | ||
| Q2 25 | $28.4M | $-465.5M | ||
| Q1 25 | $20.4M | $843.6M | ||
| Q4 24 | $21.5M | $695.7M | ||
| Q3 24 | $28.0M | $898.0M | ||
| Q2 24 | $43.6M | $87.7M | ||
| Q1 24 | $43.8M | $759.6M |
| Q4 25 | 238.4% | 19.7% | ||
| Q3 25 | 228.3% | 20.6% | ||
| Q2 25 | 276.7% | -14.5% | ||
| Q1 25 | 206.1% | 22.6% | ||
| Q4 24 | 210.4% | 25.6% | ||
| Q3 24 | 244.4% | 32.0% | ||
| Q2 24 | 409.9% | 3.2% | ||
| Q1 24 | 408.5% | 23.3% |
| Q4 25 | 182.1% | 1.1% | ||
| Q3 25 | 172.4% | 1.1% | ||
| Q2 25 | 203.1% | 1.2% | ||
| Q1 25 | 166.0% | 0.8% | ||
| Q4 24 | 187.6% | 1.6% | ||
| Q3 24 | 213.5% | 1.3% | ||
| Q2 24 | 147.4% | 1.1% | ||
| Q1 24 | 101.9% | 0.9% |
| Q4 25 | — | 4.98× | ||
| Q3 25 | 8.98× | 2.68× | ||
| Q2 25 | 9.01× | -1.16× | ||
| Q1 25 | 0.87× | 1.24× | ||
| Q4 24 | — | 2.86× | ||
| Q3 24 | 3.15× | 2.99× | ||
| Q2 24 | 4.98× | 0.42× | ||
| Q1 24 | 2.84× | 1.30× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AAT
Segment breakdown not available.
AJG
| Commissions | $2.1B | 57% |
| Broker Fees | $1.2B | 33% |
| Supplemental Revenue | $131.7M | 4% |
| Investment Performance | $121.8M | 3% |
| Contingent Revenue | $83.0M | 2% |
