Arthur J. Gallagher & Co. (AJG)
Arthur J. Gallagher & Co., together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. The company operates in Brokerage and Risk Management segments. Its Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises. This segment performs activities, including marketing, underwriting, issuing policies, collecting premiums, appointing and supervising other agents, paying claims, and negotiating reinsurance; and offers services in the areas of insurance and reinsurance placement, risk of loss management, and management of employer sponsored benefit programs. The Risk Management segment provides contract claim settlement and administration services; and claims management, loss control consulting, and insurance property appraisal services. The company offers its services through a network of correspondent brokers and consultants. It serves commercial, industrial, public, religious, and nonprofit entities, as well as underwriting enterprises. The company was founded in 1927 and is headquartered in Rolling Meadows, Illinois.
- Symbol
- AJG
- Exchange
- NYSE
- Sector
- Financial Services
- Industry
- Insurance Brokers
- Market cap
- $57.95B
- 52 week range
- 190.75 - 313.55
Valuation
- Share price
- $226.11 (close of 2026-10-02)
- P/E (TTM)
- 37.07x
- Price to book
- 2.44x
- Price to free cash flow
- 23.66x
- Enterprise value
- $70.67B
- Book value per share
- $92.65
Price performance
| Period | Change |
|---|---|
| 1 day | -2.46% |
| 5 days | -2.16% |
| 1 month | -14.50% |
| 3 months | -10.43% |
| 6 months | +3.91% |
| Year to date | -12.63% |
| 1 year | -26.75% |
| 3 years | +0.53% |
| 5 years | +48.33% |
| 10 years | +344.49% |
| All time | +12188.59% |
Members of Congress who disclosed AJG trades
Julie Johnson · Kelly Morrison · Gilbert Ray Cisneros · Julia Letlow · Lisa McClain · Val Hoyle · Alan Armstrong
Super investors holding AJG
Dodge & Cox (Dodge & Cox Funds) · First Pacific Advisors (First Pacific Advisors, LP) · Glenn Greenberg (Brave Warrior Advisors, LLC) · Mairs & Power (Mairs & Power Inc) · Ken Griffin (Citadel) · John Rogers (Ariel Investments LLC)
Profitability and growth
- Return on equity
- 6.40%
- Return on assets
- 2.11%
- Net margin
- 10.72%
- EBITDA margin
- 25.99%
- Revenue growth
- 20.66%
- Net income growth
- 2.12%
- Free cash flow growth
- -25.28%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 4.23%
- Current ratio
- 1.05x
- Net debt to EBITDA
- 3.21x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $13.94B
- EBITDA
- $3.62B
- Net income
- $1.49B
- Earnings per share
- $5.83
- Interest expense
- $639.00M
- Shares outstanding
- 256.10M
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|---|---|---|---|
| 2025-12-31 | $13.94B | - | $1.49B | $5.83 |
| 2024-12-31 | $11.55B | - | $1.46B | $6.63 |
| 2023-12-31 | $10.07B | - | $970.00M | $4.51 |
| 2022-12-31 | $8.55B | $8.53B | $1.11B | $5.30 |
| 2021-12-31 | $8.21B | $7.04B | $906.80M | $4.47 |
| 2020-12-31 | $7.00B | $6.12B | $818.80M | $4.29 |
| 2019-12-31 | $7.20B | $5.84B | $668.80M | $3.60 |
| 2018-12-31 | $6.93B | $5.12B | $633.50M | $3.47 |
| 2017-12-31 | $6.25B | $4.61B | $481.30M | $2.67 |
| 2016-12-31 | $5.68B | $4.27B | $396.80M | $2.23 |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity |
|---|---|---|---|
| 2025-12-31 | - | 10.72% | 6.40% |
| 2024-12-31 | - | 12.66% | 7.25% |
| 2023-12-31 | - | 9.63% | 8.97% |
| 2022-12-31 | 99.73% | 13.03% | 12.12% |
| 2021-12-31 | 85.71% | 11.05% | 10.59% |
| 2020-12-31 | 87.41% | 11.69% | 13.14% |
| 2019-12-31 | 81.20% | 9.30% | 12.82% |
| 2018-12-31 | 73.81% | 9.14% | 13.86% |
| 2017-12-31 | 73.82% | 7.70% | 11.19% |
| 2016-12-31 | 75.20% | 6.99% | 10.51% |
Cash and debt by year
| Period end | Cash | Debt |
|---|---|---|
| 2025-12-31 | $1.40B | $12.10B |
| 2024-12-31 | $14.99B | $12.73B |
| 2023-12-31 | $971.00M | $7.01B |
| 2022-12-31 | $738.40M | $5.56B |
| 2021-12-31 | $402.60M | $5.81B |
| 2020-12-31 | $664.60M | $4.27B |
| 2019-12-31 | $604.80M | $3.82B |
| 2018-12-31 | $607.20M | $3.09B |
| 2017-12-31 | $681.20M | $2.69B |
| 2016-12-31 | $545.50M | $2.14B |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|---|---|
| 2025-12-31 | $1.93B | $49.00M |
| 2024-12-31 | $2.58B | $42.00M |
| 2023-12-31 | $2.03B | $31.00M |
| 2022-12-31 | $1.39B | $24.40M |
| 2021-12-31 | $1.39B | $13.40M |
| 2020-12-31 | $1.81B | $13.60M |
| 2019-12-31 | $1.19B | $14.00M |
| 2018-12-31 | $765.10M | $13.70M |
| 2017-12-31 | $854.20M | $17.30M |
| 2016-12-31 | $431.80M | $14.70M |
Dividend history
- Most recent payment
- 2026-09-08
- Paid in the last twelve months
- $2.75
| Payment date | Dividend per share |
|---|---|
| 2026-09-08 | $0.70 |
| 2026-06-05 | $0.70 |
| 2026-03-06 | $0.70 |
| 2025-12-05 | $0.65 |
| 2025-09-05 | $0.65 |
| 2025-06-06 | $0.65 |
| 2025-03-07 | $0.65 |
| 2024-12-06 | $0.60 |
Investor relations
Next earnings report
- Next confirmed report
- 2026-10-29
- Consensus EPS estimate
- $3.02
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|---|---|
| 2026-07-30 | Jun/2026 | $2.84 |
| 2026-04-30 | Mar/2026 | - |
| 2026-01-29 | Dec/2025 | $2.35 |
| 2025-10-30 | Sep/2025 | $2.51 |
| 2025-07-31 | Jun/2025 | $2.36 |
| 2025-07-23 | - | - |
| 2025-05-01 | Mar/2025 | $3.57 |
| 2025-04-23 | - | - |
Filings and sources
- Company website
- ajg.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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