A

ARTHUR J. GALLAGHER & CO.

AJG · CIK 0000354190

18 fiscal years · 0 SEC filings · every number carries its receipt

Revenue (FY)
$13.94B20.7%
FY2025
Net income (FY)
$1.49B2.1%
FY2025
Free cash flow (FY)
$431.8M26.5%
FY2016
Diluted EPS (FY)
$5.7411.7%
FY2025
The story, charted

The shape of the business

FY2008–FY2025 · hover any year for its receipt
Revenue & net incomeRevenueNet income
$0$5B$10B$15BFY2008 · Revenue $1.65B · Net income $77.3M · 0001193125-11-025625 · filed 2011-02-07FY08Revenue $1.65BNet income $77.3M0001193125-11-025625 · filed 2011-02-07FY2009 · Revenue $1.73B · Net income $128.6M · 0001193125-12-061292 · filed 2012-02-14FY09Revenue $1.73BNet income $128.6M0001193125-12-061292 · filed 2012-02-14FY2010 · Revenue $1.86B · Net income $174.1M · 0001193125-13-046126 · filed 2013-02-08FY10Revenue $1.86BNet income $174.1M0001193125-13-046126 · filed 2013-02-08FY2011 · Revenue $2.13B · Net income $144.1M · 0001193125-14-040834 · filed 2014-02-07FY11Revenue $2.13BNet income $144.1M0001193125-14-040834 · filed 2014-02-07FY2012 · Revenue $2.52B · Net income $195.0M · 0001193125-15-047308 · filed 2015-02-13FY12Revenue $2.52BNet income $195.0M0001193125-15-047308 · filed 2015-02-13FY2013 · Revenue $3.18B · Net income $268.6M · 0001193125-16-457703 · filed 2016-02-10FY13Revenue $3.18BNet income $268.6M0001193125-16-457703 · filed 2016-02-10FY2014 · Revenue $4.63B · Net income $303.4M · 0001193125-17-038619 · filed 2017-02-13FY14Revenue $4.63BNet income $303.4M0001193125-17-038619 · filed 2017-02-13FY2015 · Revenue $5.39B · Net income $356.8M · 0001193125-18-038261 · filed 2018-02-12FY15Revenue $5.39BNet income $356.8M0001193125-18-038261 · filed 2018-02-12FY2016 · Revenue $5.68B · Net income $396.8M · 0001193125-19-032304 · filed 2019-02-08FY16Revenue $5.68BNet income $396.8M0001193125-19-032304 · filed 2019-02-08FY2017 · Revenue $6.25B · Net income $481.3M · 0001193125-20-028191 · filed 2020-02-07FY17Revenue $6.25BNet income $481.3M0001193125-20-028191 · filed 2020-02-07FY2018 · Revenue $6.93B · Net income $633.5M · 0001564590-21-004555 · filed 2021-02-08FY18Revenue $6.93BNet income $633.5M0001564590-21-004555 · filed 2021-02-08FY2019 · Revenue $7.20B · Net income $668.8M · 0001564590-22-005714 · filed 2022-02-18FY19Revenue $7.20BNet income $668.8M0001564590-22-005714 · filed 2022-02-18FY2020 · Revenue $7.00B · Net income $818.8M · 0000950170-23-002456 · filed 2023-02-10FY20Revenue $7.00BNet income $818.8M0000950170-23-002456 · filed 2023-02-10FY2021 · Revenue $8.21B · Net income $906.8M · 0000950170-24-013370 · filed 2024-02-09FY21Revenue $8.21BNet income $906.8M0000950170-24-013370 · filed 2024-02-09FY2022 · Revenue $8.55B · Net income $1.11B · 0000950170-25-021775 · filed 2025-02-18FY22Revenue $8.55BNet income $1.11B0000950170-25-021775 · filed 2025-02-18FY2023 · Revenue $10.07B · Net income $970.0M · 0001628280-26-008662 · filed 2026-02-17FY23Revenue $10.07BNet income $970.0M0001628280-26-008662 · filed 2026-02-17FY2024 · Revenue $11.55B · Net income $1.46B · 0001628280-26-008662 · filed 2026-02-17FY24Revenue $11.55BNet income $1.46B0001628280-26-008662 · filed 2026-02-17FY2025 · Revenue $13.94B · Net income $1.49B · 0001628280-26-008662 · filed 2026-02-17FY25Revenue $13.94BNet income $1.49B0001628280-26-008662 · filed 2026-02-17FY25Revenue $13.94BNet income $1.49B0001628280-26-008662 · filed 2026-02-17FY09FY11FY13FY15FY17FY19FY21FY23FY25

revenue 8.5× since FY2008 · net margin 4.7% → 10.7%

MarginsNet marginFCF margin
0%5%10%FY2008 · Net margin 4.7% · FCF margin 7.8%FY08Net margin 4.7%FCF margin 7.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2009 · Net margin 7.4% · FCF margin 10.9%FY09Net margin 7.4%FCF margin 10.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2010 · Net margin 9.3% · FCF margin 11.0%FY10Net margin 9.3%FCF margin 11.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2011 · Net margin 6.8% · FCF margin 11.2%FY11Net margin 6.8%FCF margin 11.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2012 · Net margin 7.7% · FCF margin 11.6%FY12Net margin 7.7%FCF margin 11.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2013 · Net margin 8.4% · FCF margin 8.1%FY13Net margin 8.4%FCF margin 8.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2014 · Net margin 6.6% · FCF margin 7.7%FY14Net margin 6.6%FCF margin 7.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2015 · Net margin 6.6% · FCF margin 10.9%FY15Net margin 6.6%FCF margin 10.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2016 · Net margin 7.0% · FCF margin 7.6%FY16Net margin 7.0%FCF margin 7.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2017 · Net margin 7.7%FY17Net margin 7.7%derived: net income ÷ revenueFY2018 · Net margin 9.1%FY18Net margin 9.1%derived: net income ÷ revenueFY2019 · Net margin 9.3%FY19Net margin 9.3%derived: net income ÷ revenueFY2020 · Net margin 11.7%FY20Net margin 11.7%derived: net income ÷ revenueFY2021 · Net margin 11.0%FY21Net margin 11.0%derived: net income ÷ revenueFY2022 · Net margin 13.0%FY22Net margin 13.0%derived: net income ÷ revenueFY2023 · Net margin 9.6%FY23Net margin 9.6%derived: net income ÷ revenueFY2024 · Net margin 12.7%FY24Net margin 12.7%derived: net income ÷ revenueFY2025 · Net margin 10.7%FY25Net margin 10.7%derived: net income ÷ revenueFY25Net margin 10.7%derived: net income ÷ revenue’09’13’17’21’25

FY2025: net 10.7% · free cash flow 7.6% of revenue

Cash engineOperating cash flowFree cash flow
$0$1B$2BFY2008 · OCF $160.6M · FCF $128.6M · 0001193125-11-025625 · filed 2011-02-07FY08OCF $160.6MFCF $128.6M0001193125-11-025625 · filed 2011-02-07FY2009 · OCF $211.5M · FCF $188.0M · 0001193125-12-061292 · filed 2012-02-14FY09OCF $211.5MFCF $188.0M0001193125-12-061292 · filed 2012-02-14FY2010 · OCF $229.5M · FCF $204.4M · 0001193125-13-046126 · filed 2013-02-08FY10OCF $229.5MFCF $204.4M0001193125-13-046126 · filed 2013-02-08FY2011 · OCF $284.0M · FCF $238.1M · 0001193125-14-040834 · filed 2014-02-07FY11OCF $284.0MFCF $238.1M0001193125-14-040834 · filed 2014-02-07FY2012 · OCF $343.0M · FCF $292.0M · 0001193125-14-040834 · filed 2014-02-07FY12OCF $343.0MFCF $292.0M0001193125-14-040834 · filed 2014-02-07FY2013 · OCF $349.9M · FCF $256.3M · 0001193125-14-040834 · filed 2014-02-07FY13OCF $349.9MFCF $256.3M0001193125-14-040834 · filed 2014-02-07FY2014 · OCF $436.6M · FCF $355.1M · 0001193125-17-038619 · filed 2017-02-13FY14OCF $436.6MFCF $355.1M0001193125-17-038619 · filed 2017-02-13FY2015 · OCF $686.1M · FCF $587.1M · 0001193125-18-038261 · filed 2018-02-12FY15OCF $686.1MFCF $587.1M0001193125-18-038261 · filed 2018-02-12FY2016 · OCF $649.6M · FCF $431.8M · 0001193125-19-032304 · filed 2019-02-08FY16OCF $649.6MFCF $431.8M0001193125-19-032304 · filed 2019-02-08FY2017 · OCF $854.2M · 0001193125-20-028191 · filed 2020-02-07FY17OCF $854.2M0001193125-20-028191 · filed 2020-02-07FY2018 · OCF $765.1M · 0001564590-21-004555 · filed 2021-02-08FY18OCF $765.1M0001564590-21-004555 · filed 2021-02-08FY2019 · OCF $1.19B · 0001564590-22-005714 · filed 2022-02-18FY19OCF $1.19B0001564590-22-005714 · filed 2022-02-18FY2020 · OCF $1.81B · 0000950170-23-002456 · filed 2023-02-10FY20OCF $1.81B0000950170-23-002456 · filed 2023-02-10FY2021 · OCF $1.39B · 0000950170-24-013370 · filed 2024-02-09FY21OCF $1.39B0000950170-24-013370 · filed 2024-02-09FY2022 · OCF $1.39B · 0000950170-25-021775 · filed 2025-02-18FY22OCF $1.39B0000950170-25-021775 · filed 2025-02-18FY2023 · OCF $2.03B · 0001628280-26-008662 · filed 2026-02-17FY23OCF $2.03B0001628280-26-008662 · filed 2026-02-17FY2024 · OCF $2.58B · 0001628280-26-008662 · filed 2026-02-17FY24OCF $2.58B0001628280-26-008662 · filed 2026-02-17FY2025 · OCF $1.93B · 0001628280-26-008662 · filed 2026-02-17FY25OCF $1.93B0001628280-26-008662 · filed 2026-02-17FY25OCF $1.93B0001628280-26-008662 · filed 2026-02-17’09’13’17’21’25
Returns on capitalReturn on equityReturn on assets
0%5%10%15%FY2009 · ROE 14.4% · ROA 4.0%FY09ROE 14.4%ROA 4.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2010 · ROE 15.7% · ROA 4.8%FY10ROE 15.7%ROA 4.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2011 · ROE 11.6% · ROA 3.2%FY11ROE 11.6%ROA 3.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2012 · ROE 11.8% · ROA 3.6%FY12ROE 11.8%ROA 3.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2013 · ROE 12.9% · ROA 3.9%FY13ROE 12.9%ROA 3.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2014 · ROE 9.4% · ROA 3.0%FY14ROE 9.4%ROA 3.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2015 · ROE 9.8% · ROA 3.3%FY15ROE 9.8%ROA 3.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2016 · ROE 11.0% · ROA 3.5%FY16ROE 11.0%ROA 3.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2017 · ROE 11.4% · ROA 3.2%FY17ROE 11.4%ROA 3.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2018 · ROE 14.1% · ROA 3.9%FY18ROE 14.1%ROA 3.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2019 · ROE 13.0% · ROA 3.4%FY19ROE 13.0%ROA 3.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2020 · ROE 13.2% · ROA 3.7%FY20ROE 13.2%ROA 3.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2021 · ROE 10.7% · ROA 2.7%FY21ROE 10.7%ROA 2.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2022 · ROE 12.2% · ROA 2.9%FY22ROE 12.2%ROA 2.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2023 · ROE 9.0% · ROA 1.9%FY23ROE 9.0%ROA 1.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2024 · ROE 7.3% · ROA 2.3%FY24ROE 7.3%ROA 2.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2025 · ROE 6.4% · ROA 2.1%FY25ROE 6.4%ROA 2.1%derived: net income ÷ equity · derived: net income ÷ assetsFY25ROE 6.4%ROA 2.1%derived: net income ÷ equity · derived: net income ÷ assets’09’13’17’21’25

return on equity 14% (FY2009) → 6% (FY2025) · on assets 2.1%

Balance sheetLiabilitiesEquity
$0$20B$40B$60BFY2009 · Liabilities $2.36B · Equity $892.9MFY09Liabilities $2.36BEquity $892.9M0001193125-11-025625 · filed 2011-02-07FY2010 · Liabilities $2.49B · Equity $1.11BFY10Liabilities $2.49BEquity $1.11B0001193125-12-061292 · filed 2012-02-14FY2011 · Liabilities $3.24B · Equity $1.24BFY11Liabilities $3.24BEquity $1.24B0001193125-13-046126 · filed 2013-02-08FY2012 · Liabilities $3.69B · Equity $1.66BFY12Liabilities $3.69BEquity $1.66B0001193125-14-040834 · filed 2014-02-07FY2013 · Liabilities $4.78B · Equity $2.09BFY13Liabilities $4.78BEquity $2.09B0001193125-15-047308 · filed 2015-02-13FY2014 · Liabilities $6.70B · Equity $3.23BFY14Liabilities $6.70BEquity $3.23B0001193125-16-457703 · filed 2016-02-10FY2015 · Liabilities $7.22B · Equity $3.64BFY15Liabilities $7.22BEquity $3.64B0001193125-17-038619 · filed 2017-02-13FY2016 · Liabilities $7.83B · Equity $3.60BFY16Liabilities $7.83BEquity $3.60B0001193125-18-038261 · filed 2018-02-12FY2017 · Liabilities $10.61B · Equity $4.24BFY17Liabilities $10.61BEquity $4.24B0001193125-19-032304 · filed 2019-02-08FY2018 · Liabilities $11.76B · Equity $4.50BFY18Liabilities $11.76BEquity $4.50B0001193125-20-028191 · filed 2020-02-07FY2019 · Liabilities $14.42B · Equity $5.16BFY19Liabilities $14.42BEquity $5.16B0001564590-21-004555 · filed 2021-02-08FY2020 · Liabilities $16.10B · Equity $6.19BFY20Liabilities $16.10BEquity $6.19B0001564590-22-005714 · filed 2022-02-18FY2021 · Liabilities $24.78B · Equity $8.51BFY21Liabilities $24.78BEquity $8.51B0000950170-23-002456 · filed 2023-02-10FY2022 · Liabilities $29.17B · Equity $9.14BFY22Liabilities $29.17BEquity $9.14B0000950170-24-013370 · filed 2024-02-09FY2023 · Liabilities $40.80B · Equity $10.78BFY23Liabilities $40.80BEquity $10.78B0000950170-25-021775 · filed 2025-02-18FY2024 · Liabilities $44.08B · Equity $20.15BFY24Liabilities $44.08BEquity $20.15B0001628280-26-008662 · filed 2026-02-17FY2025 · Liabilities $47.32B · Equity $23.32BFY25Liabilities $47.32BEquity $23.32B0001628280-26-008662 · filed 2026-02-17FY25Liabilities $47.32BEquity $23.32B0001628280-26-008662 · filed 2026-02-17’09’13’17’21’25

FY2025: $70.67B assets · $47.32B liabilities · $23.32B equity

The receipts