AJG vs CRVL: Arthur J Gallagher & and CorVel compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Arthur J Gallagher & is the larger company, worth $62.3B, about 16.0 times CorVel.
- Arthur J Gallagher & grew revenue faster over the last year (+24.2% vs +10.7%).
- On earnings, CorVel is the cheaper stock (37.2x vs 39.2x).
- CorVel's price assumes faster free cash flow growth: about 12% a year, against 12% for Arthur J Gallagher & (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | AJG | CRVL |
|---|---|---|
| Market cap | $62.3B | $3.9B |
| Share price | $232.70 | $77.16 |
| Revenue (last fiscal year) | $13.9B | $959M |
| Free cash flow (last fiscal year) | $1.8B | $110M |
| Revenue growth, last year | +24.2% | +10.7% |
| Revenue growth per year, last 5 fiscal years | +14.2% | +10.4% |
| Operating margin | 12.6% | — |
| Net margin | 10.0% | 11.7% |
| Return on equity | 6.6% | 28.2% |
| P/E (trailing) | 39.2x | 37.2x |
| Price / free cash flow | 34.9x | 42.4x |
| EV / EBITDA | 18.6x | 20.3x |
| FCF growth the price implies | 12.3% | 12.4% |
| Dividend yield | 1.1% | — |
| Debt / equity | 2.45x | 0.69x |
| Fundamental grade | D | C |
| Superinvestors holding it | 9 | 2 |
| Insider purchases, last 12 months | 10 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Arthur J Gallagher &
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $8.2B | $1.3B | 11.9% |
| 2022 | $8.6B | $1.2B | 15.5% |
| 2023 | $10.1B | $1.8B | 11.8% |
| 2024 | $11.6B | $2.4B | 16.2% |
| 2025 | $13.9B | $1.8B | 13.4% |
CorVel
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $646M | $37M | — |
| 2023 | $719M | $56M | — |
| 2024 | $795M | $70M | — |
| 2025 | $896M | $92M | — |
| 2026 | $959M | $110M | — |
Where the revenue comes from
Arthur J Gallagher & · by segments, 2025
Brokerage$12.2B87%
Risk Management$1.7B13%
Corporate$1M0%
CorVel · by products, 2026
Patient Management Services$597M62%
Network Solutions Services$362M38%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open AJG in InvestinglyQuestions
Which is bigger, Arthur J Gallagher & or CorVel?
Arthur J Gallagher & (AJG), at $62.3B against $3.9B.
Is AJG or CRVL cheaper?
By trailing P/E, CorVel (37.2x) is cheaper than Arthur J Gallagher & (39.2x). A lower multiple can also mean the market expects less growth.
Which grows faster, AJG or CRVL?
Arthur J Gallagher &: revenue grew +24.2% over the last year, against +10.7%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.