ARTHUR J. GALLAGHER & CO. vs RYAN SPECIALTY HOLDINGS, INC., two Insurance Brokers stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Gallagher is a broad retail and wholesale broker; Ryan Specialty works the specialty and managing-general-agent corner of the same market. Their cash profiles diverge hard. Ryan converts a slim 3.44% net margin into a 14.43% free-cash yield, while Gallagher runs a 10.77% margin but only a 3.47% free-cash yield. Leverage explains part of it: Ryan's debt-to-equity is 2.93 against Gallagher's 0.53. Returns on equity sit closer, 8.92% for Ryan and 6.77% for Gallagher. Gallagher trades at 36.53 times earnings; Ryan shows no meaningful earnings multiple here, so its 3.51 times book carries the pricing. Gallagher is $58.0B, Ryan $4.3B, the same trade at different scale.
Comparison updated 2026-07-11.
| Metric | AJG | RYAN |
|---|---|---|
| Price | $253.00 | $40.41 |
| Market cap | $65.0B | $4.4B |
| Sector | Financial Services | Financial Services |
| Stage | Growth | Growth |
| P/E | 40.9 | — |
| P/B | 2.73 | 3.64 |
| P/S | 4.34 | 1.41 |
| EV/EBITDA | 350.3 | 15.6 |
| Revenue growth | +24.3% | +19.1% |
| Operating margin | — | 11.9% |
| Net margin | 10.8% | 3.4% |
| Return on equity | 6.8% | 8.9% |
| Return on assets | 2.1% | 1.0% |
| Dividend yield | 1.0% | — |
| Debt / equity | 0.53 | 2.93 |
| Current ratio | 1.06 | 1.02 |
| Piotroski F (quality) | 7 / 9 | 5 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.