Arthur J. Gallagher & Co (AJG) is overvalued and Accelerant Holdings (ARX) is overvalued.
Both trade above our estimate of their intrinsic value. AJG is the closer of the two: -237%, against -499% for ARX.
Values as of the 19 Oct 2026 close.
Book value at 0.71x, the multiple a 6.7% return on equity justifies, blended with earnings, values the shares at $75.12; the price of $253.01 is 237% above that value.
Leak Score 37/100 on 10 of 12 signals
Book value and earnings at sector multiples values the shares at $3.31; the price of $19.83 is 499% above that value.
No Leak Score yet
| Metric | AJG | ARX |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $253.01 | $19.83 |
| Intrinsic value | $75.12 | $3.31 |
| Margin of safety | -237% | -499% |
| Leak Score | 37/100 (10/12) | — |
| Market cap | $64.8B | $4.3B |
| Revenue growth, 5 years | 15.3% | — |
| Operating margin | 17.1% | 23.4% |
| Net margin | 10.0% | -181.9% |
| Return on equity | 6.7% | -380.1% |
| Debt to equity | 0.59 | 0.17 |
| P/E | 41.9x | — |
| Forward P/E | 17.1x | 21.3x |
| P/B | 2.7x | 6.0x |
| Dividend yield | 1.1% | — |