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NYSE · INSURANCE AGENTS, BROKERS & SERVICE · LARGE CAP

Arthur J. Gallagher & Co. AJG

18 fiscal years on record · USD · FY2025 reported · SEC filings only
15 YEARS OF DIVIDEND GROWTH
$13.9B
▲ 20.7% YoY
$1.5B
▲ 2.1% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Arthur J. Gallagher & Co. and its subsidiaries 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. It had a market capitalization at December 31, 2025 of approximately $67 billion. It reports its results in three segments -- brokerage, risk management and corporate -- and the brokerage and risk management segments contributed approximately 87% and 13%, respectively, to 2025 revenues. It offers client service capabilities in approximately 130 countries around the world through direct operations as well as through a network of correspondent brokers and consultants. It manages its third party claims adjusting operations through a network of more than 40 offices located throughout Australia, Canada, New Zealand, the U.K. and the U.S. Its reinsurance brokerage operations, referred to as Gallagher Re, accounted for 12% of its brokerage segment revenues in 2025 and operate from more than 77 offices across 27 countries, with specialist expertise underpinned by analytics capabilities including catastrophe modeling, dynamic financial analysis, rating agency analysis and capital modeling. Since its founding in 1927, Gallagher has grown from a one-person insurance agency. It was reincorporated as a Delaware corporation in 1972.

Written from the business description in ARTHUR J. GALLAGHER & CO.'s annual report to the U.S. Securities and Exchange Commission, filed 17 February 2026. Every sentence was checked against that document before publication.

Growth

USD 13.9B
Revenue, FY2025 · full 18-year series below
Revenue $B Net income $B
FY2025 · Revenue 13.9 · Net income 1.5
5B10B
2008201120142017202020232025
Compound annual growth
+17.7%
+14.8%
+10.0%
+14.4%
+10.3%
+12.8%
+15.4%
+15.4%
+3.4%
+6.4%
+10.8%
+8.6%
+8.4%
+7.6%
+5.8%
+4.8%
+15.8%
+13.9%
+10.0%
+11.3%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +14.8% a year over the five years to FY2025 — but profit grew slower: net income at +12.8%, earnings per share at +6.4%.

The share count rose from 0.19B to 0.26B over the period.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

11 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 13.4% · Net 10.8%
5%10%15%
200820162025
ROE
FY2025 · ROE 6.9%
5%10%15%
200820162025
Three returns, three denominators.
Return on capital employedNot available: we don't have a clean operating profit figure for this period.

Each USD of equity produced 7 cents of profit this year.

Cash & shareholders

USD 667.0M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2016 · FCF 431.8
250.0M500.0M
200820162025
Net buybacks $M Dividends $M
FY2025 · Dividends 667.0 · Net buybacks ·
250.0M500.0M-30.0M-60.0MDividendsNet buybacks
2008201120142017202020232025

USD 667.0M in dividends — 45% of the year's profit went back to shareholders.

Total assetsUSD 70.7B
EquityUSD 23.3B
CashUSD 1.4B
Gross debtUSD 12.7B
Net debtUSD 11.3B
Current ratio1.06×

Net debt stands at 49% of equity.

The 18-year record

18 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative—not applicable◌not available in our data
AJG, 18-year financial record
Metric 202520242023202220212020201920182017201620152014201320122011201020092008
Revenue $B13.911.610.18.68.27.07.26.96.25.75.44.63.22.52.11.91.71.6
Operating income $B1.91.91.21.31.00.90.60.50.40.30.30.30.30.20.20.20.2◌
EBITDA $B3.02.71.91.91.51.41.10.90.70.70.60.60.50.40.30.30.3◌
Income tax $B0.40.40.20.20.00.0−0.1−0.2−0.2−0.1−0.1−0.00.00.10.10.00.10.1
Net income $B1.51.51.01.10.90.80.70.60.50.40.40.30.30.20.10.20.10.1
Free cash flow $B◌◌◌◌◌◌◌◌◌0.40.60.40.30.30.20.20.20.1
EPS, diluted $5.746.504.425.194.374.203.523.402.642.222.061.972.061.591.281.661.280.82
Dividend / sh $2.602.402.202.041.921.801.721.641.561.521.481.441.401.361.321.281.281.28
Payout %453649394342484859697274681051017799153
ROE %6.99.59.712.612.314.413.914.512.311.010.411.414.313.412.317.415.810.5
Shares out B0.260.250.220.210.210.190.190.180.180.180.180.160.130.130.110.110.10◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

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Provenance

Company facts, as filed

How we verify · 0 failures in 69 reconciliationsAUDITED

Reconciled in 18 of the 18 fiscal years we could check. Four checks were skipped: the balance sheet is not tagged before 2009. Three checks were skipped: cost of revenue is not tagged before 2010. Two checks were skipped: the share count is not tagged before 2009.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityInsurance Agents, Brokers & Service
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2008

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