FMBH vs. AJG

Last updated Jun 4, 2026

FMBH (First Mid Bancshares, Inc.) and AJG (Arthur J. Gallagher & Co.) are both stocks. Both are in the Financial Services sector — FMBH in Banks - Regional, AJG in Insurance Brokers. Over the past 10 years, FMBH returned 7.91%/yr vs 17.35%/yr for AJG. At a 0.12 correlation, their price movements are largely independent.

Performance

FMBH vs. AJG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Mid Bancshares, Inc. (FMBH) and Arthur J. Gallagher & Co. (AJG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FMBH achieves a 11.89% return, which is significantly higher than AJG's -21.51% return. Over the past 10 years, FMBH has underperformed AJG with an annualized return of 7.91%, while AJG has yielded a comparatively higher 17.35% annualized return.

FMBH

• 1D: -2.55%
• 1M: 0.76%
• YTD: 11.89%
• 6M: 8.15%
• 1Y: 22.86%
• 3Y*: 23.45%
• 5Y*: 2.43%
• 10Y*: 7.91%

AJG

• 1D: -1.59%
• 1M: -2.19%
• YTD: -21.51%
• 6M: -17.00%
• 1Y: -40.77%
• 3Y*: 0.32%
• 5Y*: 7.98%
• 10Y*: 17.35%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FMBH vs. AJG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FMBH First Mid Bancshares, Inc.	11.89%	8.71%	9.10%	11.60%	-23.21%	29.81%	-1.79%	12.89%	-15.58%	15.38%
AJG Arthur J. Gallagher & Co.	-21.51%	-8.03%	27.34%	20.51%	12.44%	39.02%	32.12%	31.79%	19.19%	25.04%

Correlation

The correlation between FMBH and AJG is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (5Y) Calculated over the trailing 5-year period	0.24
Correlation (10Y) Calculated over the trailing 10-year period	0.28
Correlation (All Time) Calculated using the full available price history since Mar 17, 1999	0.12

The correlation between FMBH and AJG shifts across timeframes, from 0.12 (all time) to 0.28 (10 years), reflecting how their relationship changes across market environments.

Fundamentals

EPS FMBH : $3.96 AJG : $5.74
PE Ratio FMBH : 10.89 AJG : 35.30
PEG Ratio FMBH : 1.29 AJG : 3.66
PS Ratio FMBH : 2.29 AJG : 3.78
Total Revenue (TTM) FMBH : $456.37M AJG : $13.94B
Gross Profit (TTM) FMBH : $230.02M AJG : $7.63B
EBITDA (TTM) FMBH : $98.76M AJG : $3.66B

Return for Risk

FMBH vs. AJG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FMBH

FMBH Risk / Return Rank: 68
FMBH Sharpe Ratio Rank: 69
FMBH Sortino Ratio Rank: 65
FMBH Omega Ratio Rank: 62
FMBH Calmar Ratio Rank: 71
FMBH Martin Ratio Rank: 72

AJG

AJG Risk / Return Rank: 2
AJG Sharpe Ratio Rank: 1
AJG Sortino Ratio Rank: 2
AJG Omega Ratio Rank: 2
AJG Calmar Ratio Rank: 3
AJG Martin Ratio Rank: 3

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FMBH vs. AJG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Mid Bancshares, Inc. (FMBH) and Arthur J. Gallagher & Co. (AJG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	FMBH	AJG	Difference
Sharpe ratio Return per unit of total volatility	0.92	-1.48	+2.41
Sortino ratio Return per unit of downside risk	1.47	-2.14	+3.61
Omega ratio Gain probability vs. loss probability	1.17	0.73	+0.44
Calmar ratio Return relative to maximum drawdown	1.65	-0.97	+2.61
Martin ratio Return relative to average drawdown	4.06	-1.63	+5.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FMBH vs. AJG - Sharpe Ratio Comparison

The current FMBH Sharpe Ratio is 0.92, which is higher than the AJG Sharpe Ratio of -1.48. The chart below compares the historical Sharpe Ratios of FMBH and AJG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FMBH	AJG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.92	-1.48	+2.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.09	0.35	-0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.26	0.76	-0.50
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	0.47	-0.30

Drawdowns

FMBH vs. AJG - Drawdown Comparison

The maximum FMBH drawdown since its inception was -73.14%, which is greater than AJG's maximum drawdown of -57.49%. Use the drawdown chart below to compare losses from any high point for FMBH and AJG.

Drawdown Indicators

	FMBH	AJG	Difference
Max Drawdown Largest peak-to-trough decline	-73.14%	-57.49%	-15.65%
Max Drawdown (1Y) Largest decline over 1 year	-13.93%	-42.35%	+28.42%
Max Drawdown (3Y) Largest decline over 3 years	-27.46%	-44.40%	+16.94%
Max Drawdown (5Y) Largest decline over 5 years	-48.94%	-44.40%	-4.54%
Max Drawdown (10Y) Largest decline over 10 years	-51.27%	-44.40%	-6.87%
Current Drawdown Current decline from peak	-2.62%	-41.36%	+38.74%
Average Drawdown Average peak-to-trough decline	-29.03%	-12.82%	-16.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.65%	26.73%	-21.08%

Volatility

FMBH vs. AJG - Volatility Comparison

The current volatility for First Mid Bancshares, Inc. (FMBH) is 6.19%, while Arthur J. Gallagher & Co. (AJG) has a volatility of 8.97%. This indicates that FMBH experiences smaller price fluctuations and is considered to be less risky than AJG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMBH	AJG	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.19%	8.97%	-2.78%
Volatility (6M) Calculated over the trailing 6-month period	16.99%	21.79%	-4.80%
Volatility (1Y) Calculated over the trailing 1-year period	24.99%	27.57%	-2.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.14%	22.84%	+4.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.03%	23.02%	+8.01%

Dividends

FMBH vs. AJG - Dividend Comparison

FMBH's dividend yield for the trailing twelve months is around 2.32%, more than AJG's 1.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AJG Arthur J. Gallagher & Co.	1.31%	1.00%	0.85%	0.98%	1.08%	1.13%	1.46%	1.81%	2.23%	2.47%	2.93%	3.62%
FMBH First Mid Bancshares, Inc.	2.32%	2.51%	2.55%	2.65%	2.81%	1.99%	2.41%	2.16%	2.19%	1.71%	1.82%	2.27%

Financials

FMBH vs. AJG - Profitability Comparison

The chart below illustrates the profitability comparison between First Mid Bancshares, Inc. and Arthur J. Gallagher & Co. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

FMBH - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, First Mid Bancshares, Inc. reported a gross profit of 0.00 and revenue of 100.62M. Therefore, the gross margin over that period was 0.0%.

AJG - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Arthur J. Gallagher & Co. reported a gross profit of 1.42B and revenue of 3.63B. Therefore, the gross margin over that period was 39.1%.

FMBH - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, First Mid Bancshares, Inc. reported an operating income of 0.00 and revenue of 100.62M, resulting in an operating margin of 0.0%.

AJG - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Arthur J. Gallagher & Co. reported an operating income of 341.00M and revenue of 3.63B, resulting in an operating margin of 9.4%.

FMBH - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, First Mid Bancshares, Inc. reported a net income of 26.33M and revenue of 100.62M, resulting in a net margin of 26.2%.

AJG - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Arthur J. Gallagher & Co. reported a net income of 151.00M and revenue of 3.63B, resulting in a net margin of 4.2%.

Frequently Asked Questions

Can I hold both FMBH and AJG in my portfolio?

FMBH and AJG have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FMBH or AJG?

AJG has higher volatility (8.97%) compared to FMBH (6.19%). In terms of maximum drawdown, FMBH dropped -73.14% vs AJG's -57.49%.

Which has better risk-adjusted returns?

FMBH currently has the higher Sharpe Ratio (0.92 vs -1.48), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.