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Side-by-side financial comparison of Assurant (AIZ) 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 $3.4B, roughly 1.1× Assurant). Assurant runs the higher net margin — 6.7% vs 4.2%, a 2.6% gap on every dollar of revenue. On growth, Arthur J. Gallagher & Co. posted the faster year-over-year revenue change (33.6% vs 7.9%). Arthur J. Gallagher & Co. produced more free cash flow last quarter ($713.4M vs $611.7M). Over the past eight quarters, Assurant's revenue compounded faster (7.9% CAGR vs 5.5%).
Assurant, Inc. is a global provider of risk management products and services with headquarters in Atlanta. Its businesses provide a diverse set of specialty, niche-market insurance products in the property, casualty, extended device protection, and preneed insurance sectors. The company's main operating segments are Global Housing and Global Lifestyle.
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.
AIZ vs AJG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.4B | $3.6B |
| Net Profit | $225.2M | $151.1M |
| Gross Margin | — | — |
| Operating Margin | 8.5% | 5.0% |
| Net Margin | 6.7% | 4.2% |
| Revenue YoY | 7.9% | 33.6% |
| Net Profit YoY | 11.9% | -41.5% |
| EPS (diluted) | $4.37 | $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 | $3.4B | $3.6B | ||
| Q3 25 | $3.2B | $3.4B | ||
| Q2 25 | $3.2B | $3.2B | ||
| Q1 25 | $3.1B | $3.7B | ||
| Q4 24 | $3.1B | $2.7B | ||
| Q3 24 | $3.0B | $2.8B | ||
| Q2 24 | $2.9B | $2.8B | ||
| Q1 24 | $2.9B | $3.3B |
| Q4 25 | $225.2M | $151.1M | ||
| Q3 25 | $265.6M | $272.7M | ||
| Q2 25 | $235.3M | $365.8M | ||
| Q1 25 | $146.6M | $704.4M | ||
| Q4 24 | $201.3M | $258.3M | ||
| Q3 24 | $133.8M | $312.6M | ||
| Q2 24 | $188.7M | $283.4M | ||
| Q1 24 | $236.4M | $608.4M |
| Q4 25 | 8.5% | 5.0% | ||
| Q3 25 | 10.2% | 10.3% | ||
| Q2 25 | 9.2% | 14.6% | ||
| Q1 25 | 6.0% | 23.4% | ||
| Q4 24 | 8.1% | 12.3% | ||
| Q3 24 | 5.1% | 14.4% | ||
| Q2 24 | 8.0% | 13.2% | ||
| Q1 24 | 10.2% | 23.7% |
| Q4 25 | 6.7% | 4.2% | ||
| Q3 25 | 8.2% | 8.1% | ||
| Q2 25 | 7.4% | 11.4% | ||
| Q1 25 | 4.8% | 18.9% | ||
| Q4 24 | 6.5% | 9.5% | ||
| Q3 24 | 4.5% | 11.1% | ||
| Q2 24 | 6.5% | 10.2% | ||
| Q1 24 | 8.2% | 18.7% |
| Q4 25 | $4.37 | $0.58 | ||
| Q3 25 | $5.17 | $1.04 | ||
| Q2 25 | $4.56 | $1.40 | ||
| Q1 25 | $2.83 | $2.72 | ||
| Q4 24 | $3.86 | $1.10 | ||
| Q3 24 | $2.55 | $1.39 | ||
| Q2 24 | $3.58 | $1.27 | ||
| Q1 24 | $4.47 | $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 | $1.8B | — |
| Total DebtLower is stronger | — | $12.9B |
| Stockholders' EquityBook value | $5.9B | $23.3B |
| Total Assets | $36.3B | $70.7B |
| Debt / EquityLower = less leverage | — | 0.55× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | $1.8B | — | ||
| Q2 24 | $1.7B | — | ||
| Q1 24 | $1.3B | — |
| Q4 25 | — | $12.9B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $23.0M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $5.9B | $23.3B | ||
| Q3 25 | $5.8B | $23.2B | ||
| Q2 25 | $5.5B | $23.0B | ||
| Q1 25 | $5.2B | $22.3B | ||
| Q4 24 | $5.1B | $20.2B | ||
| Q3 24 | $5.3B | $12.2B | ||
| Q2 24 | $5.0B | $11.6B | ||
| Q1 24 | $4.9B | $11.3B |
| Q4 25 | $36.3B | $70.7B | ||
| Q3 25 | $35.8B | $79.1B | ||
| Q2 25 | $35.5B | $80.1B | ||
| Q1 25 | $35.0B | $74.1B | ||
| Q4 24 | $35.0B | $64.3B | ||
| Q3 24 | $35.3B | $57.2B | ||
| Q2 24 | $33.8B | $63.0B | ||
| Q1 24 | $33.2B | $61.0B |
| Q4 25 | — | 0.55× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 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 | $671.0M | $753.0M |
| Free Cash FlowOCF − Capex | $611.7M | $713.4M |
| FCF MarginFCF / Revenue | 18.3% | 19.7% |
| Capex IntensityCapex / Revenue | 1.8% | 1.1% |
| Cash ConversionOCF / Net Profit | 2.98× | 4.98× |
| TTM Free Cash FlowTrailing 4 quarters | $1.6B | $1.8B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $671.0M | $753.0M | ||
| Q3 25 | $505.0M | $731.3M | ||
| Q2 25 | $265.5M | $-426.1M | ||
| Q1 25 | $392.4M | $871.8M | ||
| Q4 24 | $102.8M | $739.3M | ||
| Q3 24 | $436.5M | $934.8M | ||
| Q2 24 | $710.9M | $119.5M | ||
| Q1 24 | $82.5M | $789.3M |
| Q4 25 | $611.7M | $713.4M | ||
| Q3 25 | $442.1M | $693.5M | ||
| Q2 25 | $205.6M | $-465.5M | ||
| Q1 25 | $339.0M | $843.6M | ||
| Q4 24 | $34.8M | $695.7M | ||
| Q3 24 | $389.4M | $898.0M | ||
| Q2 24 | $655.5M | $87.7M | ||
| Q1 24 | $31.7M | $759.6M |
| Q4 25 | 18.3% | 19.7% | ||
| Q3 25 | 13.7% | 20.6% | ||
| Q2 25 | 6.5% | -14.5% | ||
| Q1 25 | 11.0% | 22.6% | ||
| Q4 24 | 1.1% | 25.6% | ||
| Q3 24 | 13.1% | 32.0% | ||
| Q2 24 | 22.4% | 3.2% | ||
| Q1 24 | 1.1% | 23.3% |
| Q4 25 | 1.8% | 1.1% | ||
| Q3 25 | 1.9% | 1.1% | ||
| Q2 25 | 1.9% | 1.2% | ||
| Q1 25 | 1.7% | 0.8% | ||
| Q4 24 | 2.2% | 1.6% | ||
| Q3 24 | 1.6% | 1.3% | ||
| Q2 24 | 1.9% | 1.1% | ||
| Q1 24 | 1.8% | 0.9% |
| Q4 25 | 2.98× | 4.98× | ||
| Q3 25 | 1.90× | 2.68× | ||
| Q2 25 | 1.13× | -1.16× | ||
| Q1 25 | 2.68× | 1.24× | ||
| Q4 24 | 0.51× | 2.86× | ||
| Q3 24 | 3.26× | 2.99× | ||
| Q2 24 | 3.77× | 0.42× | ||
| Q1 24 | 0.35× | 1.30× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AIZ
| Global Lifestyle | $2.6B | 78% |
| Global Housing | $749.1M | 22% |
| Service Contracts And Sales | $34.5M | 1% |
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% |
