Arthur J. Gallagher & Co. AJG

Financials SIC 6411 - Insurance Agents, Brokers & Service NYSE

Arthur J. Gallagher & Co. and its subsidiaries, collectively referred to herein as we, our, us or Gallagher, are engaged in providing insurance brokerage, reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals around the world. We believe that our major strength is our ability to deliver comprehensively structured insurance, reinsurance and risk management solutions, superior claim outcomes and comprehensive consulting services to our clients.

Our brokerage segment operations provide brokerage and consulting services to entities of all types, including commercial, nonprofit, public sector entities, insurance companies and insurance capital providers, and to a lesser extent, individuals, in the areas of insurance and reinsurance placements, risk of loss management, and management of employer sponsored benefit programs. Our risk management segment operations provide contract claim settlement, claim administration, loss control services and risk management consulting for commercial, nonprofit, captive and public sector entities, and various other organizations that choose to self-insure property/casualty coverages or choose to use a third-party claims management organization rather than the claim services provided by an underwriting enterprise.

Last close 262.69 2026-09-04
Market cap $67.33B 2026-06-30 share count
52-week range 190.75 - 313.55

Valuation FY2025 figures against the last close

P/S4.8x
P/E45.8x
P/FCF37.7x
EV/EBITDA
Dividend yield1.0%
Diluted EPS5.74

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $13.94B$11.55B$10.07B$8.55B$8.21B$7.00B$7.20B$6.93B$6.25B$5.68B
Cost of revenue $22.9M$1.17B$882.1M$1.35B$1.82B$1.64B$1.41B
Gross profit $8.53B$7.04B$6.12B$5.84B$5.12B$4.61B$4.27B
Total operating expenses $2.26B$1.75B$1.69B$1.33B$1.07B$906.5M$1.07B$903.7M$829.1M$776.3M
Interest expense $639.0M$381.0M$297.0M$256.9M$226.1M$196.4M$179.8M$138.4M$124.1M$109.8M
Pre-tax income $1.87B$1.88B$1.19B$1.33B$975.1M$870.9M$626.1M$479.4M$359.8M$333.6M
Income tax $368.0M$404.0M$219.0M$211.0M$20.1M$12.8M$89.7M$196.5M$157.1M$96.7M
Net income $1.49B$1.46B$970.0M$1.11B$906.8M$818.8M$668.8M$633.5M$481.3M$396.8M
EPS, basic 5.836.634.515.304.474.293.603.472.672.23
EPS, diluted 5.746.504.425.194.374.203.523.402.642.22
Shares, diluted (wtd. avg.) $256.1M$220.5M$214.9M$210.3M$202.7M$191.0M$186.0M$182.7M$180.1M$177.6M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $1.40B$14.99B$971.0M$738.4M$867.7M$664.6M$604.8M$607.2M$681.2M$1.94B
Receivables $5.17B$3.90B$3.79B$2.91B
Total current assets $34.36B$44.11B$32.12B$22.29B$17.67B$11.12B$9.12B$8.12B$7.27B$4.42B
Property, plant and equipment $789.0M$650.0M$726.4M$576.2M$500.8M$450.7M$467.4M$436.9M$412.2M$377.6M
Goodwill $22.59B$12.27B$11.48B$9.49B$8.67B$6.13B$5.62B$4.63B$4.16B$3.75B
Other intangibles $10.68B$4.53B$4.63B$3.37B$3.95B$2.40B$2.32B$1.77B$1.64B$1.63B
Total assets $70.67B$64.25B$51.62B$38.36B$33.24B$22.33B$19.63B$16.33B$14.91B$13.53B
Short-term debt $640.0M$200.0M$670.0M$310.0M$245.0M$75.0M$620.0M$365.0M$290.0M$578.0M
Total current liabilities $32.52B$29.26B$31.06B$21.34B$16.73B$10.13B$8.92B$7.69B$6.73B$4.61B
Long-term debt $12.10B$12.73B$7.01B$5.56B$5.81B$4.27B$3.82B$3.09B$2.69B$2.14B
Total liabilities $47.32B$44.08B$40.80B$29.17B$24.78B$16.10B$14.42B$11.76B$10.61B$7.83B
Retained earnings $5.81B$4.99B$4.05B$3.56B$2.88B$2.37B$1.90B$1.56B$1.22B$916.4M
Total equity $23.32B$20.15B$10.81B$9.19B$8.56B$6.23B$5.22B$4.57B$4.30B$3.78B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $1.93B$2.58B$2.03B$1.39B$1.39B$1.81B$1.19B$765.1M$854.2M$649.6M
Depreciation and amortisation $1.12B$843.0M$697.0M$599.6M$566.3M$562.4M$474.4M$419.0M$385.8M$350.8M
Stock-based compensation $49.0M$42.0M$31.0M$24.4M$13.4M$13.6M$14.0M$13.7M$17.3M$14.7M
Capital expenditure $145.0M$142.0M$194.0M$182.7M$128.6M$99.3M$138.8M$124.4M$129.2M$217.8M
Investing cash flow -$15.88B-$1.59B-$3.29B-$1.00B-$3.43B-$471.4M-$1.45B-$910.3M-$511.0M-$485.3M
Financing cash flow $1.71B$13.05B$2.87B$212.6M$3.00B-$505.1M$638.4M$162.0M-$47.8M-$11.6M
Dividends paid $667.0M$525.0M$474.0M$429.5M$392.0M$347.4M$321.1M$301.8M$282.7M$272.2M
Buybacks $11.3M$17.7M$101.0M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-008662.

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