Arthur J. Gallagher & Co.

Financials Insurance Brokers Rolling Meadows, Illinois Last filing Feb 17, 2026 · FY2025

                    Revenue
                    FY2025
                
Not reported
                    
                    No matching line (14 accounts checked)
                    
                    Net income
                    FY2025
                
$1.5B
                    
                    +2.1%
                    
                    Total assets
                    FY2025
                
$70.7B
                    ROA +2.1%
                    
                    P44
                    
                    +10.0%
                    
                    Operating cash flow
                    FY2025
                
$1.9B
                    
                    -25.3%

18 yrs · FY2008–FY2025 7 filed · 0 derived · 2 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

30 accounts · 3 years

Total assets $70.7B

Total liabilities $47.3B

Shareholders equity $23.3B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	$1.4B -90.7%	$15.0B 1442.7%	$971.5M
Accounts Receivable	$5.2B 32.8%	$3.9B 2.9%	$3.8B
Prepaid Expenses	$886.0M 71.0%	$518.0M 15.1%	$450.1M
Other Current Assets	$886.0M 71.0%	$518.0M 15.1%	$450.1M
Total Current Assets	$34.4B -22.1%	$44.1B 37.4%	$32.1B
Property,Plant and Equipment	$789.0M 21.3%	$650.3M -10.5%	$726.4M
Operating Lease Assets	$598.0M 58.3%	$377.8M -5.6%	$400.3M
Goodwill	$22.6B 84.1%	$12.3B 6.9%	$11.5B
Intangible Assets	$10.7B 135.8%	$4.5B -2.2%	$4.6B
Deferred Tax Assets	$43.0M -95.5%	$959.1M -15.3%	$1.1B
Other Noncurrent Assets	$1.6B 18.3%	$1.4B 19.7%	$1.1B
Total Assets	$70.7B 10.0%	$64.3B 24.5%	$51.6B
Liabilities
Accounts Payable	$5.2B 32.8%	$3.9B 2.9%	$3.8B
Accrued Liabilities	$32.5B 11.1%	$29.3B -5.8%	$31.1B
Deferred Revenue	$737.0M 37.2%	$537.2M -16.7%	$644.7M
Current Portion of Long Term Debt	$640.0M 220.0%	$200.0M -70.1%	$670.0M
Operating Lease Liabilities	$515.0M 57.0%	$328.1M -6.8%	$352.2M
Total Current Liabilities	$32.5B 11.1%	$29.3B -5.8%	$31.1B
Long Term Debt	$12.1B -4.9%	$12.7B 81.7%	$7.0B
Deferred Revenue Noncurrent	$155.0M 131.0%	$67.1M 9.1%	$61.5M
Operating Lease Liabilities Noncurrent	$515.0M 57.0%	$328.1M -6.8%	$352.2M
Other Noncurrent Liabilities	$2.0B 20.0%	$1.7B -27.1%	$2.3B
Total Liabilities	$47.3B 7.4%	$44.1B 8.0%	$40.8B
Equity
Common Stock	$257.0M 2.8%	$250.0M 15.4%	$216.7M
Additional Paid In Capital	$17.8B 10.7%	$16.1B 120.2%	$7.3B
Retained Earnings	$5.8B 16.5%	$5.0B 23.0%	$4.1B
Accumulated Other Comprehensive Income	$-525.0M 54.4%	$-1.2B -45.3%	$-792.1M
Noncontrolling Interest	$26.0M -0.4%	$26.1M -34.8%	$40.0M
Total Stockholders Equity	$23.3B 15.7%	$20.2B 87.0%	$10.8B
Total Liabilitiesand Equity	$70.7B 10.0%	$64.3B 24.5%	$51.6B

Income Statement

Revenue, expense, and profitability

14 accounts · 3 years

Revenue Not reported

Operating income Not reported

Net income $1.5B

Account	2025	2024	2023
IncomeStatement
Expenses Cost of Revenue	$12.1B 24.7%	$9.7B 8.9%	$8.9B
Expenses Depreciation and Amortization	$1.1B 33.1%	$843.0M 20.9%	$697.0M
Expenses Share Based Compensation	$49.0M 16.7%	$42.0M 35.5%	$31.0M
Expenses Operating Expenses	$2.3B 28.7%	$1.8B 3.8%	$1.7B
Other Income Expense Interest Expense	$639.0M 67.7%	$381.0M 28.3%	$297.0M
Other Income Expense Other Income/expense	$23.0M 0.0%	$23.0M 187.5%	$8.0M
Other Income Expense Income Before Tax	$1.9B -0.2%	$1.9B 58.2%	$1.2B
Income Tax Income Tax Expense	$368.0M -8.9%	$404.0M 84.5%	$219.0M
net Income net Income	$1.5B 2.1%	$1.5B 50.8%	$970.0M
net Income Comprehensive Income	$2.1B 92.0%	$1.1B -16.2%	$1.3B
Earnings Per Share Basic Eps	$6 -12.1%	$7 47.0%	$5
Earnings Per Share Diluted Eps	$6 -11.7%	$6 47.1%	$4
Earnings Per Share Weighted Average Shares Basic	$256.1M 16.1%	$220.5M 2.6%	$214.9M
Earnings Per Share Weighted Average Shares Diluted	$256.1M 16.1%	$220.5M 2.6%	$214.9M

Cash Flow Statement

Operating, investing, and financing flows

17 accounts · 3 years

Operating cash flow $1.9B

Investing cash flow $-15.9B

Financing cash flow $1.7B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	$1.5B 2.1%	$1.5B 50.8%	$970.0M
Operating Activities Depreciation and Amortization	$1.1B 33.1%	$843.0M 20.9%	$697.0M
Operating Activities Stock Based Compensation	$49.0M 16.7%	$42.0M 35.5%	$31.0M
Operating Activities Deferred Income Taxes	$61.0M -44.0%	$109.0M 153.5%	$43.0M
Operating Activities Changes In Operating Assets and Liabilities	$222.0M 535.3%	$-51.0M -109.2%	$553.0M
Operating Activities net Cash From Operating Activities	$1.9B -25.3%	$2.6B 27.1%	$2.0B
Investing Activities Capital Expenditures	$145.0M 2.1%	$142.0M -26.8%	$194.0M
Investing Activities Other Investing Activities	$-2.0M 66.7%	$-6.0M 0.0%	$-6.0M
Investing Activities net Cash From Investing Activities	$-15.9B -900.4%	$-1.6B 51.8%	$-3.3B
Financing Activities Proceeds From Debt	$2.5B 53.1%	$1.7B -56.2%	$3.8B
Financing Activities Repayment of Debt	$2.5B 33.5%	$1.9B -47.2%	$3.6B
Financing Activities Dividends Paid	$667.0M 27.0%	$525.0M 10.8%	$474.0M
Financing Activities Proceeds From Stock Issuance	$1.5B -82.4%	$8.5B 6989.2%	$120.0M
Financing Activities net Cash From Financing Activities	$1.7B -86.9%	$13.1B 354.1%	$2.9B
Cash Reconciliation net Change In Cash	$-11.9B -185.7%	$13.9B 781.9%	$1.6B
Cash Reconciliation Cash At Beginning of Period	$1.4B -90.7%	$15.0B 1442.7%	$971.5M
Cash Reconciliation Cash At End of Period	$1.4B -90.7%	$15.0B 1442.7%	$971.5M

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	—	—	—
Operating margin	—	—	—
Net margin	—	—	—
FCF margin	—	—	—
Growth
Revenue CAGR (3y)	—	—	—
Returns
ROE	+6.4%	+7.3%	+9.0%
ROA	+2.1%	+2.3%	+1.9%
ROIC	—	—	—
Liquidity
Current ratio	1.06x	1.51x	1.03x
Quick ratio	0.20x	0.65x	0.15x
Leverage
D/E	2.03x	2.19x	3.79x
Interest coverage	—	—	—
Efficiency
Asset turnover	—	—	—
Cash conversion cycle	—	—	—

Valuation

Price against fundamentals

AJG $306 · 2025-09-29 · 351d old · FY2025

Market cap $78.3B

P/E 52.40x

P/S —

P/B 3.36x

EV $89.6B

EV/EBITDA —

FCF yield +2.3%

Dividend yield +0.9%

Notes

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