balance equationreview2021-12-31
Difference 108900000 exceeds tolerance 33236100.000. Presentation or filing-vintage differences need review.
Revenue
$13.94B
Fiscal year ended 2025-12-31Net income
$1.49B
Fiscal year ended 2025-12-31Total assets
$70.66B
Fiscal year ended 2025-12-31Arthur J. Gallagher & Co. (AJG) reported revenue of $13.94B and net income of $1.49B for the fiscal year ended 2025-12-31. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from Arthur J. Gallagher & Co.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Insurance Agents, Brokers & Service.
Banks, brokers and insurers present a top line that is not comparable with an operating company’s revenue: it is reported net of interest expense, or as premiums earned, depending on the filer. The figures are the filer’s own and are traceable to the filing; the comparison across classes is what does not hold.
Income
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $13.94B | $11.56B | $10.07B | $8.55B | $8.21B | $7.00B | $7.20B | $6.93B | $6.25B | $5.68B |
| Cost of revenue | Unavailable | Unavailable | Unavailable | $22.90M | $1.17B | $882.10M | $1.35B | $1.82B | $1.64B | $1.41B |
| Gross profit | Unavailable | Unavailable | Unavailable | $8.53B | $7.04B | $6.12B | $5.84B | $5.12B | $4.61B | $4.27B |
| Operating income | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Net income | $1.49B | $1.46B | $970.00M | $1.11B | $906.80M | $818.80M | $668.80M | $633.50M | $481.30M | $396.80M |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Weighted-average diluted shares | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Pretax income | $1.87B | $1.88B | $1.18B | $1.33B | $975.10M | $870.90M | $626.10M | $479.40M | $359.80M | $333.60M |
| Income tax expense | $368.00M | $404.00M | $219.00M | $211.00M | $20.10M | $12.80M | -$89.70M | -$196.50M | -$157.10M | -$96.70M |
| Diluted EPS | $5.74 | $6.50 | $4.42 | $5.19 | $4.37 | $4.20 | $3.52 | $3.40 | $2.64 | $2.22 |
| Selling, general & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| General & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | Unavailable | Unavailable | Unavailable | $738.40M | $402.60M | $664.60M | $604.80M | $607.20M | $681.20M | $545.50M |
| Total assets | $70.66B | $64.26B | $51.62B | $38.36B | $33.24B | $22.33B | $19.63B | $16.33B | $14.91B | $13.53B |
| Current assets | $34.36B | $44.11B | $32.12B | $22.29B | $17.67B | $11.12B | $9.12B | $8.12B | $7.27B | $4.42B |
| Total liabilities | $47.32B | $44.08B | $40.80B | $29.17B | $24.78B | $16.10B | $14.42B | $11.76B | $10.61B | $7.83B |
| Current liabilities | $32.52B | $29.26B | $31.06B | $21.34B | $16.74B | $10.14B | $8.92B | $7.69B | $6.73B | $4.61B |
| Total equity incl. NCI | $23.35B | $20.18B | $10.82B | $9.19B | $8.56B | $6.23B | $5.22B | $4.57B | $4.30B | $3.78B |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts receivable | $5.18B | $3.90B | $3.79B | $2.91B | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Goodwill | $22.59B | $12.27B | $11.48B | $9.49B | $8.67B | $6.13B | $5.62B | $4.63B | $4.16B | $3.75B |
| Long-term debt | $12.10B | $12.73B | $7.01B | $5.56B | $5.81B | $4.27B | $3.82B | $3.09B | $2.69B | $2.14B |
| Accounts payable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Cash flow
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.93B | $2.58B | $2.03B | $1.39B | $1.39B | $1.81B | $1.19B | $765.10M | $854.20M | $649.60M |
| Capital expenditures | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | $217.80M |
| Investing cash flow | -$15.88B | -$1.59B | -$3.29B | -$1.00B | -$3.43B | -$471.40M | -$1.45B | -$910.30M | -$511.00M | -$485.30M |
| Financing cash flow | $1.71B | $13.05B | $2.87B | $212.60M | $3.00B | -$505.10M | $638.40M | $162.00M | -$47.80M | -$11.60M |
| Net change in cash | -$11.93B | $13.92B | $1.58B | $497.90M | $892.00M | $950.40M | $387.10M | -$68.20M | $367.40M | $45.10M |
| Stock-based compensation | $49.00M | $42.00M | $31.00M | $24.40M | $13.40M | $13.60M | $14.00M | $13.70M | $17.30M | $14.70M |
| Common dividends paid | $667.00M | $525.00M | $474.00M | $429.50M | $392.00M | $347.40M | $321.10M | $301.80M | $282.70M | $272.20M |
| Common share repurchases | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | $11.30M | $17.70M | $101.00M |
| Depreciation & amortization | $1.12B | $843.00M | $697.00M | $599.60M | $566.30M | $562.40M | $474.40M | $419.00M | $385.80M | $350.80M |
Derived
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross margin | Unavailable | Unavailable | Unavailable | 99.7% | 85.7% | 87.4% | 81.2% | 73.8% | 73.8% | 75.2% |
| Operating margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| FCF margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| SBC / revenue | 0.4% | 0.4% | 0.3% | 0.3% | 0.2% | 0.2% | 0.2% | 0.2% | 0.3% | 0.3% |
| Current ratio | 1.06x | 1.51x | 1.03x | 1.04x | 1.06x | 1.10x | 1.02x | 1.06x | 1.08x | 0.96x |
| Revenue YoY growth | 20.7% | 14.7% | 17.8% | 4.2% | 17.2% | -2.7% | 3.8% | 11.0% | 10.0% | Unavailable |
| Net margin | 10.7% | 12.7% | 9.6% | 13.0% | 11.0% | 11.7% | 9.3% | 9.1% | 7.7% | 7.0% |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| CapEx / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Long-term debt / equity | 0.52x | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | 19.7% | 21.5% | 18.5% | 15.9% | 2.1% | 1.5% | -14.3% | -41.0% | -43.7% | -29.0% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open AJG in the interactive workspace to inspect any figure back to its filing.
Source filings
10-Q · Filed 2026-08-05View SEC filing
10-Q · Filed 2026-05-07View SEC filing
10-K · Filed 2026-02-17View SEC filing
10-Q · Filed 2025-11-10View SEC filing
10-Q · Filed 2025-08-01View SEC filing
10-Q · Filed 2025-05-02View SEC filing
Reconciliation checks needing review
2 periods on this page do not reconcile under this site’s normalization. Read that as a limitation here before an observation about the company: the figures are the filer’s own, the filings linked above are authoritative, and a difference usually means the concepts this site selected do not match how this filer presents its statements. Nothing is adjusted to make a check pass.
balance equationreview2016-12-31
Difference 1918900000 exceeds tolerance 13528200.000. Presentation or filing-vintage differences need review.