Arthur J. Gallagher & Co. AJG

Financials SIC 6411 - Insurance Agents, Brokers & Service NAICS Finance and Insurance › Insurance Carriers and Related Activities › Agencies, Brokerages, and Other Insurance Related Activities › Insurance Agencies and Brokerages derived 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 268.04 2026-10-23
Market cap $68.70B 2026-06-30 share count
52-week range 190.75 - 279.00

Valuation FY2025 figures against the last close

P/S4.9x
P/E46.7x
P/FCF38.5x
EV/EBITDA—
Dividend yield1.0%
Diluted EPS5.74

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • United Kingdom
  • Other foreign
  • Australia
  • Canada
  • New Zealand
Revenue by geography, 6 categories over 3 years. The same figures are in the table below. FY2025 United States, FY2025: 9.4B (67.4%) 67% United States United Kingdom, FY2025: 2.5B (17.8%) 18% United Kingdom Other foreign, FY2025: 886M (6.4%) 6% Australia, FY2025: 586M (4.2%) 4% Canada, FY2025: 395M (2.8%) New Zealand, FY2025: 207M (1.5%) FY2024 United States, FY2024: 7.4B (64.3%) 64% United Kingdom, FY2024: 2.2B (19.3%) 19% Other foreign, FY2024: 701M (6.1%) 6% Australia, FY2024: 575M (5.0%) 5% Canada, FY2024: 416M (3.6%) 4% New Zealand, FY2024: 210M (1.8%) FY2023 United States, FY2023: 6.4B (63.8%) 64% United Kingdom, FY2023: 2B (19.8%) 20% Other foreign, FY2023: 573M (5.7%) 6% Australia, FY2023: 467M (4.6%) 5% Canada, FY2023: 404M (4.0%) 4% New Zealand, FY2023: 208M (2.1%)
Region FY2025FY2024FY2023
United States $9.39B $7.43B $6.43B
United Kingdom $2.48B $2.23B $1.99B
Other foreign $886.0M $701.0M $573.0M
Australia $586.0M $575.0M $467.0M
Canada $395.0M $416.0M $404.0M
New Zealand $207.0M $210.0M $208.0M

As the company reported it, from the “Segment Information - Schedule of Segment Reporting Information by Segment (Detail)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

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.) 256.1M220.5M214.9M210.3M202.7M191.0M186.0M182.7M180.1M177.6M

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.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 5B 10B 15B Revenue, FY2016: 5.7B Gross profit, FY2016: 4.3B Net income, FY2016: 396.8M Revenue, FY2017: 6.2B Gross profit, FY2017: 4.6B Net income, FY2017: 481.3M Revenue, FY2018: 6.9B Gross profit, FY2018: 5.1B Net income, FY2018: 633.5M Revenue, FY2019: 7.2B Gross profit, FY2019: 5.8B Net income, FY2019: 668.8M Revenue, FY2020: 7B Gross profit, FY2020: 6.1B Net income, FY2020: 818.8M Revenue, FY2021: 8.2B Gross profit, FY2021: 7B Net income, FY2021: 906.8M Revenue, FY2022: 8.6B Gross profit, FY2022: 8.5B Net income, FY2022: 1.1B Revenue, FY2023: 10.1B Net income, FY2023: 970M Revenue, FY2024: 11.6B Net income, FY2024: 1.5B Revenue, FY2025: 13.9B Net income, FY2025: 1.5B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $5.68B $6.25B $6.93B $7.20B $7.00B $8.21B $8.55B $10.07B $11.55B $13.94B
Gross profit $4.27B $4.61B $5.12B $5.84B $6.12B $7.04B $8.53B — — —
Net income $396.8M $481.3M $633.5M $668.8M $818.8M $906.8M $1.11B $970.0M $1.46B $1.49B

Recent filings and events

  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Regulation FD disclosure Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01
  • Officer or director change Item 5.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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