TMO vs. AJG
TMO (Thermo Fisher Scientific Inc.) and AJG (Arthur J. Gallagher & Co.) are both stocks. TMO operates in Diagnostics & Research (Healthcare), while AJG operates in Insurance Brokers (Financial Services). Over the past 10 years, TMO returned 12.28%/yr vs 17.92%/yr for AJG. At a 0.29 correlation, their price movements are largely independent.
Performance
TMO vs. AJG - Performance Comparison
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Returns By Period
In the year-to-date period, TMO achieves a -18.87% return, which is significantly lower than AJG's -17.35% return. Over the past 10 years, TMO has underperformed AJG with an annualized return of 12.28%, while AJG has yielded a comparatively higher 17.92% annualized return.
TMO
- 1D
- -0.67%
- 1M
- 1.00%
- YTD
- -18.87%
- 6M
- -17.21%
- 1Y
- 17.28%
- 3Y*
- -2.93%
- 5Y*
- 1.21%
- 10Y*
- 12.28%
AJG
- 1D
- -1.67%
- 1M
- 7.22%
- YTD
- -17.35%
- 6M
- -10.08%
- 1Y
- -34.63%
- 3Y*
- 1.87%
- 5Y*
- 9.17%
- 10Y*
- 17.92%
TMO vs. AJG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TMO Thermo Fisher Scientific Inc. | -18.87% | 11.78% | -1.72% | -3.36% | -17.29% | 43.54% | 43.72% | 45.55% | 18.21% | 35.03% |
AJG Arthur J. Gallagher & Co. | -17.35% | -8.03% | 27.34% | 20.51% | 12.44% | 39.02% | 32.12% | 31.79% | 19.19% | 25.04% |
Correlation
The correlation between TMO and AJG is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Sep 2, 1987 | 0.29 |
The correlation between TMO and AJG shifts across timeframes, from 0.14 (1 year) to 0.36 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
TMO:
$18.22
AJG:
$5.74
TMO:
25.78
AJG:
37.04
TMO:
3.91
AJG:
3.97
TMO:
$45.20B
AJG:
$13.94B
TMO:
$17.81B
AJG:
$7.63B
TMO:
$11.16B
AJG:
$3.66B
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Return for Risk
TMO vs. AJG — Risk / Return Rank
TMO
AJG
TMO vs. AJG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Thermo Fisher Scientific Inc. (TMO) 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.
| TMO | AJG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.81 | ||
| Sortino ratioReturn per unit of downside risk | +2.76 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 0.78 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 0.55 | -0.85 | +1.41 |
| Martin ratioReturn relative to average drawdown | 1.23 | -1.47 | +2.70 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TMO | AJG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.56 | -1.25 | +1.81 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | 0.40 | -0.36 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.47 | 0.78 | -0.31 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.40 | 0.47 | -0.07 |
Drawdowns
TMO vs. AJG - Drawdown Comparison
The maximum TMO drawdown since its inception was -71.16%, which is greater than AJG's maximum drawdown of -57.49%. Use the drawdown chart below to compare losses from any high point for TMO and AJG.
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Drawdown Indicators
| TMO | AJG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.16% | -57.49% | -13.67% |
Max Drawdown (1Y)Largest decline over 1 year | -31.38% | -40.64% | +9.26% |
Max Drawdown (3Y)Largest decline over 3 years | -37.28% | -44.40% | +7.12% |
Max Drawdown (5Y)Largest decline over 5 years | -40.95% | -44.40% | +3.45% |
Max Drawdown (10Y)Largest decline over 10 years | -40.95% | -44.40% | +3.45% |
Current DrawdownCurrent decline from peak | -28.76% | -38.26% | +9.50% |
Average DrawdownAverage peak-to-trough decline | -18.02% | -12.83% | -5.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.09% | 24.06% | -9.97% |
Volatility
TMO vs. AJG - Volatility Comparison
Thermo Fisher Scientific Inc. (TMO) has a higher volatility of 9.96% compared to Arthur J. Gallagher & Co. (AJG) at 8.97%. This indicates that TMO's price experiences larger fluctuations and is considered to be riskier than AJG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TMO | AJG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.96% | 8.97% | +0.99% |
Volatility (6M)Calculated over the trailing 6-month period | 21.57% | 22.42% | -0.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.02% | 27.95% | +3.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.13% | 22.96% | +4.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.33% | 23.08% | +3.25% |
Dividends
TMO vs. AJG - Dividend Comparison
TMO's dividend yield for the trailing twelve months is around 0.37%, less than AJG's 1.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AJG Arthur J. Gallagher & Co. | 1.27% | 1.00% | 0.85% | 0.98% | 1.08% | 1.13% | 1.46% | 1.81% | 2.23% | 2.47% | 2.93% | 3.62% |
TMO Thermo Fisher Scientific Inc. | 0.37% | 0.30% | 0.30% | 0.26% | 0.22% | 0.16% | 0.19% | 0.23% | 0.30% | 0.32% | 0.43% | 0.42% |
Financials
TMO vs. AJG - Financials Comparison
This section allows you to compare key financial metrics between Thermo Fisher Scientific Inc. and Arthur J. Gallagher & Co.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
TMO vs. AJG - Profitability Comparison
TMO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Thermo Fisher Scientific Inc. reported a gross profit of 4.48B and revenue of 11.01B. Therefore, the gross margin over that period was 40.7%.
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%.
TMO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Thermo Fisher Scientific Inc. reported an operating income of 1.86B and revenue of 11.01B, resulting in an operating margin of 16.9%.
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%.
TMO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Thermo Fisher Scientific Inc. reported a net income of 1.65B and revenue of 11.01B, resulting in a net margin of 15.0%.
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
TMO and AJG have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TMO has higher volatility (9.96%) compared to AJG (8.97%). In terms of maximum drawdown, TMO dropped -71.16% vs AJG's -57.49%.
TMO currently has the higher Sharpe Ratio (0.56 vs -1.25), 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.
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