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.

Price · AJG

1Y 3Y 5Y Max

Annual Quarterly

Income Statement

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$13.94B	$11.55B	$10.07B	$8.55B	$8.21B	$7.00B
Cost of Revenue	-	-	-	$22.90M	$1.17B	$882.10M
Gross Profit	-	-	-	$8.53B	$7.04B	$6.12B
R&D	-	-	-	-	-	-
SG&A	-	-	-	-	-	-
Total Operating Expenses	$2.26B	$1.75B	$1.69B	$1.33B	$1.07B	$906.50M
D&A	$206.00M	$177.50M	$165.20M	$144.70M	$151.20M	$145.10M
Operating Income	$1.87B	$1.87B	$1.19B	$1.33B	$975.10M	$870.90M
Interest Expense	$639.00M	$381.30M	$296.70M	$256.90M	$226.10M	$196.40M
Income Tax	$368.00M	$404.40M	$219.10M	$211.00M	$20.10M	$12.80M
Net Income	$1.49B	$1.46B	$969.50M	$1.11B	$906.80M	$818.80M
EPS - Basic	$5.83	$6.63	$4.51	$5.30	$4.47	$4.29
EPS - Diluted	$5.74	$6.50	$4.42	$5.19	$4.37	$4.20

Balance Sheet

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Cash & Equivalents	$1.40B	$14.99B	$971.50M	$342.30M	$402.60M	$664.60M
Accounts Receivable	$5.17B	$3.90B	$3.79B	-	-	-
Inventory	-	-	-	-	-	-
Accounts Payable	-	-	-	-	-	-
Current Assets	$34.36B	$44.11B	$32.12B	$22.83B	$17.67B	$11.12B
Total Assets	$70.67B	$64.26B	$51.62B	$38.91B	$33.34B	$22.33B
Current Liabilities	$32.52B	$29.26B	$31.06B	$21.89B	$16.73B	$10.13B
Long-term Debt	$12.10B	$12.73B	$7.01B	$5.56B	$5.81B	$4.27B
Total Liabilities	$47.32B	$44.08B	$40.80B	$29.72B	$24.78B	$16.10B
Stockholders' Equity	$23.32B	$20.15B	$10.78B	$9.14B	$8.51B	$6.19B
Retained Earnings	$5.81B	$4.99B	$4.05B	$3.56B	$2.88B	$2.37B

Cash Flow

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Operating Cash Flow	$1.93B	$2.58B	$2.03B	$2.13B	$1.70B	$1.75B
Investing Cash Flow	($15.88B)	($1.59B)	($3.29B)	($1.00B)	($3.43B)	($416.80M)
Financing Cash Flow	$1.71B	$13.05B	$2.87B	($522.80M)	$2.68B	($505.10M)
CapEx	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-

Ratios

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Profitability
Gross margin	-	-	-	99.7%	85.7%	87.4%
Operating margin	13.4%	16.2%	11.8%	15.5%	11.9%	12.4%
EBITDA margin	14.9%	17.8%	13.4%	17.2%	13.7%	14.5%
Net margin	10.7%	12.7%	9.6%	13.0%	11.0%	11.7%
Free cash flow margin	-	-	-	-	-	-
FCF / Net income	-	-	-	-	-	-
R&D / Revenue	-	-	-	-	-	-
SG&A / Revenue	-	-	-	-	-	-
Effective tax rate	19.8%	21.7%	18.4%	15.9%	2.2%	1.5%
Return on assets	2.1%	2.3%	1.9%	2.9%	2.7%	3.7%
Return on equity	6.4%	7.3%	9.0%	12.2%	10.7%	13.2%
Return on invested capital	4.2%	4.5%	5.4%	7.6%	6.7%	8.2%
Liquidity
Current ratio	1.06	1.51	1.03	1.04	1.06	1.10
Quick ratio	1.06	1.51	1.03	1.04	1.06	1.10
Cash ratio	0.04	0.51	0.03	0.02	0.02	0.07
Leverage
Debt / Equity	0.52	0.63	0.65	0.61	0.68	0.69
Debt / Assets	0.17	0.20	0.14	0.14	0.17	0.19
Debt / EBITDA	5.83	6.20	5.19	3.78	5.16	4.20
Interest coverage	2.9x	4.9x	4.0x	5.2x	4.3x	4.4x
Equity multiplier	3.03	3.19	4.79	4.26	3.92	3.61
Liabilities / Assets	0.67	0.69	0.79	0.76	0.74	0.72
Efficiency
Asset turnover	0.20	0.18	0.20	0.22	0.25	0.31
Inventory turnover	-	-	-	-	-	-
Days sales outstanding	135d	123d	137d	-	-	-
Days inventory outstanding	-	-	-	-	-	-
Days payable outstanding	-	-	-	-	-	-
Cash conversion cycle	-	-	-	-	-	-
Valuation
P / E	45.1x	43.7x	50.9x	36.3x	38.8x	29.5x
P / B	-	-	-	-	-	-
P / S	-	-	-	-	-	-
EV / EBITDA	-	-	-	-	-	-
Growth
Revenue growth (YoY)	20.7%	14.7%	17.8%	4.2%	17.2%	-2.7%
Revenue CAGR (3y)	17.7%	12.1%	12.9%	5.9%	13.1%	4.4%
Revenue CAGR (5y)	14.8%	9.9%	12.1%	6.8%	8.0%	5.4%
Gross profit growth (YoY)	-	-	-	21.2%	14.9%	4.8%
Operating income growth (YoY)	-0.2%	58.2%	-10.7%	36.1%	12.0%	39.1%
Net income growth (YoY)	2.1%	50.9%	-13.0%	22.9%	10.7%	22.4%
EPS growth (YoY)	-11.7%	47.1%	-14.8%	18.8%	4.0%	19.3%
EPS CAGR (3y)	3.4%	14.2%	1.7%	13.8%	8.7%	18.3%
EPS CAGR (5y)	6.4%	13.1%	5.4%	15.4%	13.5%	15.3%
FCF growth (YoY)	-	-	-	-	-	-
FCF CAGR (5y)	-	-	-	-	-	-
Book value growth (YoY)	15.7%	87.0%	17.8%	7.5%	37.5%	20.0%

Sales by segment

From XBRL dimensional facts in the 10-K period ending 2025-12-31.

Business segments

$13.94B total

Brokerage Segment$12.19B · 87.4%

Risk Management Segment$1.75B · 12.5%

Corporate$1.00M · 0.0%

Geographic

$12.19B total

US$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%

Stability scores

Altman Z′

FY 2025 · bankruptcy risk

0.57

Distress

Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.

Piotroski F-score

FY 2025 · 9-point quality

5/9

Neutral

✓Net income positive
✓Operating cash flow positive
✗ROA improved YoY
✓Cash flow > net income
✓Long-term debt decreased
✗Current ratio improved
-No share dilution
-Gross margin improved
✓Asset turnover improved

Peer comparison

Same SIC group: Insurance Agents, Brokers & Service

Company	Revenue (last FY)	Net margin	ROE
WTW	$9.71B	16.5%	20.1%
ERIE	$4.07B	13.8%	24.5%
ACT	$1.24B	55.7%	12.8%
MRSH	$26.98B	15.4%	27.2%
EQH	$11.66B	-11.8%	1864.9%

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