8-K Announcements
6Apr 30, 2026·SEC
Mar 17, 2026·SEC
Mar 12, 2026·SEC
Arthur J. Gallagher & Co. (AJG) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Arthur J. Gallagher & Co. (AJG) stock price & volume — 10-year historical chart
Arthur J. Gallagher & Co. (AJG) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Arthur J. Gallagher & Co. (AJG) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 30, 2026 | $4.47vs $4.43+0.9% | $4.7Bvs $4.7B-0.3% |
| Q1 2026 | Jan 29, 2026 | $2.38vs $2.35+1.3% | $3.6Bvs $3.6B-0.3% |
| Q4 2025 | Oct 30, 2025 | $2.32vs $2.51-7.6% | $3.4Bvs $3.3B+0.9% |
| Q3 2025 | Jul 31, 2025 | $2.33vs $2.36-1.3% | $3.2Bvs $3.2B+0.5% |
Arthur J. Gallagher & Co. (AJG) competitors in Commercial insurance brokerages — business model, growth, and fundamentals comparison
Arthur J. Gallagher & Co. (AJG) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Arthur J. Gallagher & Co. (AJG) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 6.25B | 6.92B | 7.12B | 7.01B | 8.21B | 8.55B | 10.07B | 11.55B | 13.94B |
| Revenue Growth % | 9.95% | 10.86% | 2.83% | -1.55% | 17.12% | 4.16% | 17.79% | 14.72% | 20.66% |
| Medical Costs & Claims | 4.52B | 4.98B | 4.83B | 4.5B | 5.23B | 4.95B | 5.83B | 6.68B | 6.31B |
| Medical Cost Ratio % | 72.36% | 71.98% | 67.85% | 64.2% | 63.75% | 57.93% | 57.85% | 57.78% | 45.25% |
| Gross Profit | 1.73B▲ 0% | 1.94B▲ 12.4% | 2.29B▲ 18.0% | 2.51B▲ 9.6% | 2.98B▲ 18.6% | 3.6B▲ 20.9% | 4.25B▲ 18.0% | 4.88B▲ 14.9% | 7.63B▲ 56.5% |
| Gross Margin % | 27.64% | 28.02% | 32.15% | 35.8% | 36.25% | 42.07% | 42.15% | 42.22% | 54.75% |
| Gross Profit Growth % | 7.72% | 12.37% | 17.99% | 9.63% | 18.6% | 20.89% | 18.01% | 14.91% | 56.47% |
| Operating Expenses | 1.21B | 1.32B | 1.54B | 1.47B | 1.64B | 1.93B | 2.39B | 2.6B | 5.08B |
| OpEx / Revenue % | 19.45% | 19.1% | 21.67% | 20.96% | 19.96% | 22.58% | 23.69% | 22.47% | 36.47% |
| Depreciation & Amortization | 385.8M | 419M | 474.4M | 562.4M | 566.3M | 599.6M | 696.5M | 842.3M | 1.12B |
| Combined Ratio % | 91.81% | 91.09% | 89.52% | 85.16% | 83.71% | 80.51% | 81.54% | 80.25% | 81.72% |
| Operating Income | 511.4M▲ 0% | 617.2M▲ 20.7% | 745.9M▲ 20.9% | 1.04B▲ 39.5% | 1.34B▲ 28.5% | 1.67B▲ 24.7% | 1.86B▲ 11.5% | 2.28B▲ 22.8% | 2.55B▲ 11.7% |
| Operating Margin % | 8.19% | 8.91% | 10.48% | 14.84% | 16.29% | 19.49% | 18.46% | 19.75% | 18.28% |
| Operating Income Growth % | 7.55% | 20.69% | 20.85% | 39.46% | 28.53% | 24.67% | 11.53% | 22.75% | 11.69% |
| EBITDA | 897.2M | 1.04B | 1.22B | 1.6B | 1.9B | 2.27B | 2.56B | 3.12B | 3.67B |
| EBITDA Margin % | 14.37% | 14.97% | 17.14% | 22.86% | 23.18% | 26.51% | 25.37% | 27.04% | 26.33% |
| Interest Expense | 124.1M | 138.4M | 179.8M | 196.4M | 226.1M | 256.9M | 296.7M | 381.3M | 638.8M |
| Non-Operating Income | 27.5M | -600K | -60M | -27.1M | 135.8M | 83M | 377.3M | 26M | 10.2M |
| Pretax Income | 359.8M▲ 0% | 479.4M▲ 33.2% | 626.1M▲ 30.6% | 870.9M▲ 39.1% | 975.1M▲ 12.0% | 1.33B▲ 36.1% | 1.19B▼ 10.7% | 1.87B▲ 58.2% | 1.87B▼ 0.2% |
| Pretax Margin % | 5.76% | 6.92% | 8.79% | 12.42% | 11.88% | 15.52% | 11.77% | 16.23% | 13.42% |
| Income Tax | -157.1M | -196.5M | -89.7M | 12.8M | 20.1M | 211M | 219.1M | 404.4M | 368.3M |
| Effective Tax Rate % | -43.66% | -40.99% | -14.33% | 1.47% | 2.06% | 15.9% | 18.49% | 21.57% | 19.68% |
| Net Income | 481.3M▲ 0% | 633.5M▲ 31.6% | 668.8M▲ 5.6% | 818.8M▲ 22.4% | 906.8M▲ 10.7% | 1.11B▲ 22.9% | 969.5M▼ 13.0% | 1.46B▲ 50.9% | 1.49B▲ 2.1% |
| Net Margin % | 7.71% | 9.15% | 9.39% | 11.68% | 11.05% | 13.03% | 9.63% | 12.66% | 10.72% |
| Net Income Growth % | 21.3% | 31.62% | 5.57% | 22.43% | 10.75% | 22.87% | -12.99% | 50.87% | 2.13% |
| EPS (Diluted) | 2.54▲ 0% | 3.40▲ 33.9% | 3.52▲ 3.5% | 4.20▲ 19.3% | 4.37▲ 4.0% | 5.19▲ 18.8% | 4.42▼ 14.8% | 6.53▲ 47.7% | 5.75▼ 11.9% |
| EPS Growth % | 9.48% | 33.86% | 3.53% | 19.32% | 4.05% | 18.76% | -14.84% | 47.74% | -11.94% |
| EPS (Basic) | 2.57 | 3.47 | 3.60 | 4.29 | 4.47 | 5.30 | 4.51 | 6.63 | 5.83 |
| Diluted Shares Outstanding | 182.12M | 186.16M | 190.1M | 195M | 207.3M | 214.7M | 219.3M | 223.9M | 260.34M |
Arthur J. Gallagher & Co. (AJG) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Total Assets | 12.9B | 16.33B | 19.63B | 22.33B | 33.34B | 38.36B | 51.62B | 64.26B | 70.67B |
| Asset Growth % | 12.25% | 26.65% | 20.21% | 13.73% | 49.32% | 15.03% | 34.56% | 24.49% | 9.98% |
| Total Investment Assets | 0 | 59.5M | 45.4M | 22.4M | 3.4M | 56.6M | 3.9M | 6.2M | 0 |
| Long-Term Investments | 0 | 59.5M | 45.4M | 22.4M | 3.4M | 56.6M | 0 | 0 | 0 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 3.9M | 6.2M | 0 |
| Total Current Assets | 5.17B | 8.12B | 9.12B | 11.12B | 17.67B | 22.29B | 32.12B | 44.11B | 34.36B |
| Cash & Equivalents | 681.2M | 607.2M | 604.8M | 664.6M | 402.6M | 738.4M | 971.5M | 14.99B | 1.4B |
| Receivables | 4.48B | 5.37B | 5.89B | 6.89B | 12.39B | 2.91B | 3.79B | 3.9B | 5.17B |
| Other Current Assets | 1.71B | 1.72B | 2.12B | 3.01B | 4.19B | 17.89B | 27.36B | 25.23B | 27.79B |
| Goodwill & Intangibles | 5.84B | 6.4B | 7.94B | 8.53B | 12.62B | 12.86B | 16.11B | 16.8B | 33.28B |
| Goodwill | 4.2B | 4.63B | 5.62B | 6.13B | 8.67B | 9.49B | 11.48B | 12.27B | 22.59B |
| Intangible Assets | 1.64B | 1.77B | 2.32B | 2.4B | 3.95B | 3.37B | 4.63B | 4.53B | 10.68B |
| PP&E (Net) | 412.2M | 436.9M | 860.9M | 824.6M | 859.4M | 922.9M | 1.13B | 1.03B | 1.39B |
| Other Assets | 567M | 514.1M | 728.2M | 747.5M | 963.1M | 933.2M | 1.13B | 1.35B | 1.65B |
| Total Liabilities | 8.73B | 11.76B | 14.42B | 16.1B | 24.78B | 29.17B | 40.8B | 44.08B | 47.32B |
| Total Debt | 3.13B | 3.61B | 4.95B | 4.87B | 6.59B | 6.42B | 8.32B | 13.49B | 14B |
| Net Debt | 2.45B | 3B | 4.34B | 4.2B | 6.19B | 5.68B | 7.35B | -1.5B | 12.6B |
| Long-Term Debt | 2.69B | 3.09B | 3.82B | 4.27B | 5.81B | 5.56B | 7.01B | 12.73B | 12.62B |
| Short-Term Debt | 441.1M | 519M | 790.6M | 278.6M | 473.4M | 551.9M | 959M | 425.2M | 866M |
| Total Current Liabilities | 4.91B | 7.69B | 8.92B | 10.13B | 16.73B | 21.34B | 31.06B | 29.26B | 32.52B |
| Accounts Payable | 4.99B | 5.74B | 6.35B | 7.78B | 13.85B | 18.7B | 0 | 0 | 0 |
| Deferred Revenue | 74.8M | 379.3M | 434.1M | 475.6M | 520.9M | 546.7M | 644.7M | 537.2M | 0 |
| Other Current Liabilities | -1.46B | 1.06B | 1.35B | 1.6B | 1.9B | 1.54B | 29.46B | 28.3B | 27.64B |
| Deferred Taxes | -1000K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 1.13B | 900.9M | 1.27B | 1.31B | 1.87B | 1.9B | 2.32B | 1.69B | -14.03B |
| Total Equity | 4.16B▲ 0% | 4.57B▲ 9.7% | 5.22B▲ 14.1% | 6.23B▲ 19.5% | 8.56B▲ 37.3% | 9.19B▲ 7.4% | 10.82B▲ 17.7% | 20.18B▲ 86.6% | 23.35B▲ 15.7% |
| Equity Growth % | 13.93% | 9.72% | 14.13% | 19.5% | 37.34% | 7.36% | 17.68% | 86.58% | 15.7% |
| Shareholders Equity | 4.11B | 4.5B | 5.16B | 6.19B | 8.51B | 9.14B | 10.78B | 20.15B | 23.32B |
| Minority Interest | 59.7M | 70.8M | 60M | 46.5M | 51.7M | 46.6M | 40M | 26.1M | 26M |
| Retained Earnings | 1.1B | 1.56B | 1.9B | 2.37B | 2.88B | 3.56B | 4.05B | 4.99B | 5.81B |
| Common Stock | 181M | 184M | 188.1M | 193.7M | 208.5M | 211.9M | 216.7M | 250M | 257M |
| Accumulated OCI | -559.9M | -785.6M | -759.6M | -643.6M | -726.1M | -1.14B | -792.1M | -1.15B | -525M |
| Return on Equity (ROE) | 12.31% | 14.51% | 13.67% | 14.3% | 12.26% | 12.55% | 9.69% | 9.44% | 6.86% |
| Return on Assets (ROA) | 3.95% | 4.33% | 3.72% | 3.9% | 3.26% | 3.11% | 2.16% | 2.52% | 2.21% |
| Equity / Assets | 32.29% | 27.98% | 26.56% | 27.91% | 25.67% | 23.96% | 20.95% | 31.41% | 33.04% |
| Debt / Equity | 0.75x | 0.79x | 0.95x | 0.78x | 0.77x | 0.70x | 0.77x | 0.67x | 0.60x |
| Book Value per Share | 22.87 | 24.55 | 27.44 | 31.96 | 41.29 | 42.80 | 49.32 | 90.13 | 89.68 |
| Tangible BV per Share | -9.21 | -9.82 | -14.32 | -11.77 | -19.59 | -17.10 | -24.14 | 15.09 | -38.14 |
Arthur J. Gallagher & Co. (AJG) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 854.2M | 765.1M | 1.12B | 1.75B | 1.7B | 1.39B | 2.03B | 2.58B | 1.93B |
| Operating CF Growth % | 37.31% | -10.43% | 46.28% | 56.59% | -2.76% | -18.43% | 46.17% | 27.13% | -25.28% |
| Operating CF / Revenue % | 13.68% | 11.05% | 15.72% | 25% | 20.76% | 16.26% | 20.17% | 22.35% | 13.84% |
| Net Income | 499.2M | 675.9M | 715.8M | 858.1M | 955M | 1.12B | 966M | 1.46B | 1.49B |
| Depreciation & Amortization | 385.8M | 419M | 474.4M | 562.4M | 566.3M | 599.6M | 696.5M | 842.3M | 1.12B |
| Stock-Based Compensation | 17.3M | 13.7M | 14M | 13.6M | 13.4M | 24.4M | 31.4M | 117.5M | 0 |
| Deferred Taxes | -183.4M | -216M | -65.3M | 9.2M | -184M | -209M | 43.1M | 108.6M | 0 |
| Other Non-Cash Items | 192.6M | 191.3M | 45.9M | 13.5M | 153.9M | -693.7M | 415.9M | 10.9M | -147M |
| Working Capital Changes | -57.3M | -318.8M | -65.6M | 295.7M | 199.5M | 552.7M | -121.2M | 40.9M | -539M |
| Cash from Investing | -511M | -910.3M | -1.38B | -416.8M | -3.43B | -1B | -3.29B | -1.59B | -15.88B |
| Capital Expenditures | -129.2M | -124.4M | -138.8M | -99.3M | -128.6M | -182.7M | -193.6M | -141.9M | -145M |
| Acquisitions | -372.9M | -770.3M | -1.19B | -316.1M | -3.24B | -753.9M | -3.03B | -1.46B | -15.75B |
| Purchase of Investments | 0 | 0 | -127.4M | -85.8M | -40.2M | -3.6M | 0 | 0 | -5M |
| Sale/Maturity of Investments | 0 | 0 | 127.4M | 85.8M | 40.2M | 1M | 0 | 0 | 2M |
| Other Investing | -8.9M | -15.6M | -52M | -1.4M | -67.9M | -65.6M | -67.4M | 16.8M | 16M |
| Cash from Financing | -47.8M | 162M | 638.4M | -505.1M | 2.68B | 212.6M | 2.87B | 13.05B | 1.72B |
| Dividends Paid | -282.7M | -301.8M | -321.1M | -347.4M | -392M | -429.5M | -473.6M | -525.4M | -667M |
| Share Repurchases | -17.7M | -11.3M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Issued | 60.4M | 81.9M | 101.2M | 111.9M | 1.55B | 123.1M | 120.2M | 8.51B | 1.5B |
| Debt Issuance (Net) | 1000K | 1000K | 1000K | -1000K | 1000K | -1000K | 1000K | 1000K | -1000K |
| Other Financing | -68.4M | -114.7M | -140.9M | -189.2M | -229.6M | 680.2M | 1.37B | -196.7M | 1.09B |
| Net Change in Cash | 367.4M▲ 0% | -68.2M▼ 118.6% | 387.1M▲ 667.6% | 950.4M▲ 145.5% | 892M▼ 6.1% | 497.9M▼ 44.2% | 1.58B▲ 217.2% | 13.93B▲ 781.9% | -13.59B▼ 197.6% |
| Exchange Rate Effect | 72M | -85M | 6.1M | 119.8M | -64.5M | -99.9M | -33.5M | -122.9M | -1.36B |
| Cash at Beginning | 1.94B | 2.31B | 2.24B | 2.62B | 3.57B | 4.47B | 4.96B | 6.54B | 14.99B |
| Cash at End | 2.31B | 2.24B | 2.62B | 3.57B | 4.47B | 4.96B | 6.54B | 20.47B | 1.4B |
| Free Cash Flow | 725M▲ 0% | 640.7M▼ 11.6% | 980.4M▲ 53.0% | 1.65B▲ 68.6% | 1.58B▼ 4.7% | 1.21B▼ 23.4% | 1.84B▲ 52.2% | 2.44B▲ 32.8% | 1.78B▼ 26.9% |
| FCF Growth % | 79.32% | -11.63% | 53.02% | 68.63% | -4.7% | -23.37% | 52.25% | 32.8% | -26.87% |
| FCF Margin % | 11.61% | 9.25% | 13.77% | 23.59% | 19.19% | 14.12% | 18.25% | 21.13% | 12.8% |
| FCF per Share | 3.98 | 3.44 | 5.16 | 8.48 | 7.6 | 5.62 | 8.38 | 10.9 | 6.86 |
Arthur J. Gallagher & Co. (AJG) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Combined Ratio | 91.63% | 91.81% | 91.09% | 89.52% | 85.16% | 83.71% | 80.51% | 81.54% | 80.25% | 81.72% |
| Medical Cost Ratio | 71.79% | 72.36% | 71.98% | 67.85% | 64.2% | 63.75% | 57.93% | 57.85% | 57.78% | 45.25% |
| Return on Equity (ROE) | 10.81% | 12.31% | 14.51% | 13.67% | 14.3% | 12.26% | 12.55% | 9.69% | 9.44% | 6.86% |
| Return on Assets (ROA) | 3.54% | 3.95% | 4.33% | 3.72% | 3.9% | 3.26% | 3.11% | 2.16% | 2.52% | 2.21% |
| Equity / Assets | 31.82% | 32.29% | 27.98% | 26.56% | 27.91% | 25.67% | 23.96% | 20.95% | 31.41% | 33.04% |
| Book Value / Share | 20.49 | 22.87 | 24.55 | 27.44 | 31.96 | 41.29 | 42.8 | 49.32 | 90.13 | 89.68 |
| Debt / Equity | 0.78x | 0.75x | 0.79x | 0.95x | 0.78x | 0.77x | 0.70x | 0.77x | 0.67x | 0.60x |
| Revenue Growth | 5.34% | 9.95% | 10.86% | 2.83% | -1.55% | 17.12% | 4.16% | 17.79% | 14.72% | 20.66% |
Arthur J. Gallagher & Co. (AJG) SEC filings — annual & quarterly reports (10-K, 10-Q)
Apr 30, 2026·SEC
Mar 17, 2026·SEC
Mar 12, 2026·SEC
Arthur J. Gallagher & Co. (AJG) stock FAQ — growth, dividends, profitability & financials explained
Arthur J. Gallagher & Co. (AJG) grew revenue by 20.7% over the past year. This is strong growth.
Yes, Arthur J. Gallagher & Co. (AJG) is profitable, generating $1.49B in net income for fiscal year 2025 (10.7% net margin).
Yes, Arthur J. Gallagher & Co. (AJG) pays a dividend with a yield of 1.30%. This makes it attractive for income-focused investors.
Arthur J. Gallagher & Co. (AJG) has a return on equity (ROE) of 6.9%. This is below average, suggesting room for improvement.
Arthur J. Gallagher & Co. (AJG) has a combined ratio of 81.7%. A ratio below 100% indicates underwriting profitability.
Arthur J. Gallagher & Co. (AJG) financial analysis — history, returns, DCA and operating performance tools
Analyst verdict, bull/bear case, risk factors and peer comparison
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates