AJG · Arthur J. Gallagher & Co. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.76B | - | $3.37B | $3.22B | $3.73B | - | $2.81B | $2.78B | $3.26B | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | - | - | - | - | - | - | - | - | - | - |
| Total Operating Expenses | $643.00M | - | $580.80M | $519.30M | $490.40M | - | $453.70M | $425.60M | $435.70M | - |
| D&A | $61.00M | - | $54.10M | $49.70M | $44.10M | - | $45.30M | $40.80M | $45.40M | - |
| Operating Income | $1.04B | - | $346.90M | $471.40M | $872.70M | - | $403.30M | $365.60M | $772.70M | - |
| Interest Expense | $158.00M | - | $160.80M | $158.60M | $158.40M | - | $92.90M | $94.30M | $92.20M | - |
| Income Tax | $220.00M | - | $73.30M | $105.20M | $163.80M | - | $89.20M | $80.20M | $160.00M | - |
| Net Income | $822.00M | - | $272.70M | $365.80M | $704.40M | - | $312.60M | $283.40M | $608.40M | - |
| EPS - Basic | $3.20 | - | $1.06 | $1.43 | $2.76 | - | $1.43 | $1.30 | $2.80 | - |
| EPS - Diluted | $3.16 | - | $1.04 | $1.40 | $2.72 | - | $1.39 | $1.27 | $2.74 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.41B | $1.40B | $1.40B | $14.30B | $16.69B | $14.99B | $2.02B | $1.42B | $1.76B | $971.50M |
| Accounts Receivable | $5.96B | $5.17B | $5.43B | $4.74B | $4.52B | $3.90B | $3.99B | $4.18B | $4.15B | $3.79B |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Current Assets | $42.02B | $34.36B | $43.01B | $57.84B | $53.44B | $44.11B | $37.28B | $43.31B | $41.48B | $32.12B |
| Total Assets | $78.30B | $70.67B | $79.07B | $80.12B | $74.10B | $64.26B | $57.24B | $63.01B | $60.98B | $51.62B |
| Current Liabilities | $39.53B | $32.52B | $40.76B | $42.54B | $37.04B | $29.26B | $35.20B | $41.61B | $39.64B | $31.06B |
| Long-term Debt | $12.08B | $12.10B | $12.10B | $12.10B | $12.42B | $12.73B | $7.79B | $7.79B | $7.99B | $7.01B |
| Total Liabilities | $54.50B | $47.32B | $55.83B | $57.07B | $51.74B | $44.08B | $45.03B | $51.41B | $49.63B | $40.80B |
| Stockholders' Equity | $23.77B | $23.32B | $23.21B | $23.02B | $22.32B | $20.15B | $12.18B | $11.57B | $11.30B | $10.78B |
| Retained Earnings | $6.45B | $5.81B | $5.82B | $5.72B | $5.52B | $4.99B | $4.86B | $4.68B | $4.53B | $4.05B |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $957.00M | - | - | - | $871.80M | - | - | - | $789.30M | - |
| Investing Cash Flow | ($238.00M) | - | - | - | ($275.40M) | - | - | - | ($191.90M) | - |
| Financing Cash Flow | ($723.00M) | - | - | - | $1.11B | - | - | - | ($5.40M) | - |
| CapEx | - | - | - | - | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - | - | - | - | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | 21.9% | - | 10.3% | 14.6% | 23.4% | - | 14.4% | 13.2% | 23.7% | - |
| EBITDA margin | 23.2% | - | 11.9% | 16.2% | 24.6% | - | 16.0% | 14.6% | 25.1% | - |
| Net margin | 17.3% | - | 8.1% | 11.4% | 18.9% | - | 11.1% | 10.2% | 18.7% | - |
| Free cash flow margin | - | - | - | - | - | - | - | - | - | - |
| FCF / Net income | - | - | - | - | - | - | - | - | - | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | - | - | - | - | - | - | - | - | - | - |
| Effective tax rate | 21.1% | - | 21.2% | 22.3% | 18.9% | - | 22.2% | 22.1% | 20.8% | - |
| Return on assets | 1.0% | - | 0.3% | 0.5% | 1.0% | - | 0.5% | 0.4% | 1.0% | - |
| Return on equity | 3.5% | - | 1.2% | 1.6% | 3.2% | - | 2.6% | 2.4% | 5.4% | - |
| Return on invested capital | 2.3% | - | 0.8% | 1.0% | 2.0% | - | 1.6% | 1.5% | 3.2% | - |
| Liquidity | ||||||||||
| Current ratio | 1.06 | 1.06 | 1.06 | 1.36 | 1.44 | 1.51 | 1.06 | 1.04 | 1.05 | 1.03 |
| Quick ratio | 1.06 | 1.06 | 1.06 | 1.36 | 1.44 | 1.51 | 1.06 | 1.04 | 1.05 | 1.03 |
| Cash ratio | 0.04 | 0.04 | 0.03 | 0.34 | 0.45 | 0.51 | 0.06 | 0.03 | 0.04 | 0.03 |
| Leverage | ||||||||||
| Debt / Equity | 0.51 | 0.52 | 0.52 | 0.53 | 0.56 | 0.63 | 0.64 | 0.67 | 0.71 | 0.65 |
| Debt / Assets | 0.15 | 0.17 | 0.15 | 0.15 | 0.17 | 0.20 | 0.14 | 0.12 | 0.13 | 0.14 |
| Debt / EBITDA | 10.94 | - | 30.18 | 23.22 | 13.55 | - | 17.37 | 19.17 | 9.77 | - |
| Interest coverage | 6.6x | - | 2.2x | 3.0x | 5.5x | - | 4.3x | 3.9x | 8.4x | - |
| Equity multiplier | 3.29 | 3.03 | 3.41 | 3.48 | 3.32 | 3.19 | 4.70 | 5.44 | 5.40 | 4.79 |
| Liabilities / Assets | 0.70 | 0.67 | 0.71 | 0.71 | 0.70 | 0.69 | 0.79 | 0.82 | 0.81 | 0.79 |
| Efficiency | ||||||||||
| Asset turnover | 0.06 | - | 0.04 | 0.04 | 0.05 | - | 0.05 | 0.04 | 0.05 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 457d | - | 588d | 537d | 443d | - | 519d | 549d | 465d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 68.5x | - | 297.8x | 228.7x | 126.9x | - | 202.4x | 204.2x | 91.3x | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 27.6% | - | 19.9% | 16.0% | 14.5% | - | 12.6% | 13.7% | 20.3% | - |
| Revenue CAGR (3y) | 20.7% | - | 18.1% | 16.4% | 15.2% | - | 9.5% | 12.8% | 14.6% | - |
| Revenue CAGR (5y) | 17.1% | - | 12.7% | 15.3% | 14.8% | - | 9.0% | 10.9% | 10.3% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 19.5% | - | -14.0% | 28.9% | 12.9% | - | 10.8% | 22.9% | 27.6% | - |
| Net income growth (YoY) | 16.7% | - | -12.8% | 29.1% | 15.8% | - | 11.4% | 20.9% | 25.1% | - |
| EPS growth (YoY) | 16.2% | - | -25.2% | 10.2% | -0.7% | - | 8.6% | 18.7% | 22.3% | - |
| EPS CAGR (3y) | 12.2% | - | -4.4% | 1.7% | 9.9% | - | 9.5% | 11.3% | 12.6% | - |
| EPS CAGR (5y) | 10.5% | - | 2.9% | 12.1% | 8.7% | - | 16.1% | 17.0% | 9.1% | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 6.5% | 15.7% | 90.5% | 98.9% | 97.5% | 87.0% | 16.4% | 11.3% | 15.1% | 17.8% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$13.94B totalBrokerage Segment$12.19B · 87.4%
Risk Management Segment$1.75B · 12.5%
Corporate$1.00M · 0.0%
Geographic
$12.19B totalUS$8.00B · 65.6%
GB$2.37B · 19.5%
Other Foreign$879.00M · 7.2%
CA$387.00M · 3.2%
AU$344.00M · 2.8%
NZ$207.00M · 1.7%
Peer comparison
Same SIC group: Insurance Agents, Brokers & Service
Comparing Arthur J. Gallagher & Co. against the 5 most active filers in the same SIC group.
Dividends
$2.65/share trailing 12 months · +8.2% YoY
| Ex-date | Per share |
|---|---|
| Mar 6, 2026 | $0.7000 |
| Dec 5, 2025 | $0.6500 |
| Sep 5, 2025 | $0.6500 |
| Jun 6, 2025 | $0.6500 |
| Mar 7, 2025 | $0.6500 |
| Dec 6, 2024 | $0.6000 |
| Sep 6, 2024 | $0.6000 |
| Jun 7, 2024 | $0.6000 |
| Feb 29, 2024 | $0.6000 |
| Nov 30, 2023 | $0.5500 |
| Aug 31, 2023 | $0.5500 |
| Jun 1, 2023 | $0.5500 |
| Mar 2, 2023 | $0.5500 |
| Dec 1, 2022 | $0.5100 |
| Sep 1, 2022 | $0.5100 |
| Jun 2, 2022 | $0.5100 |
| Mar 3, 2022 | $0.5100 |
| Dec 2, 2021 | $0.4800 |
| Sep 2, 2021 | $0.4800 |
| Jun 3, 2021 | $0.4800 |
| Mar 4, 2021 | $0.4800 |
| Dec 3, 2020 | $0.4500 |
| Sep 3, 2020 | $0.4500 |
| Jun 4, 2020 | $0.4500 |