AJG Financials Arthur J. Gallagher & Co.

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Aug 9, 2026, 10:13 UTC Overview →

Growth & profitability

Revenue has grown 14.8% per year over the past 5 years.
Net income has grown slower than revenue (12.8% vs 14.8% per year).
Free cash flow has grown 12.6% per year over the past 5 years.

Financial health

Total debt ($13.0B) exceeds cash ($1.4B); net debt is $11.6B.
Total debt has grown faster than revenue (23.3% vs 14.8% per year).

Shareholder returns

Dividends have been paid for 15 consecutive years, consuming 44.6% of earnings.
The dividend has grown 13.9% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$13.9B	$1.5B	0.0%	0.0%	6.4%	2.1%	—	$13.0B	$1.4B
2024	$11.6B	$1.5B	0.0%	0.0%	7.3%	2.3%	—	$13.2B	$15.0B
2023	$10.1B	$970M	0.0%	0.0%	9.0%	1.9%	—	$8.0B	$971M
2022	$8.6B	$1.1B	99.7%	0.0%	12.2%	2.9%	—	$6.5B	$738M
2021	$8.2B	$907M	85.7%	0.0%	10.7%	2.7%	—	$6.3B	$868M
2020	$7.0B	$819M	87.4%	0.0%	13.2%	3.7%	—	$4.5B	$3.6B
2019	$7.2B	$669M	81.2%	0.0%	13.0%	3.4%	—	$4.6B	$2.6B
2018	$6.9B	$634M	73.8%	0.0%	14.1%	3.9%	—	$385M	$2.2B
2017	$6.2B	$481M	73.8%	0.0%	11.4%	3.2%	—	$310M	$2.3B
2016	$5.7B	$397M	75.2%	0.0%	11.0%	2.9%	$432M	$605M	$1.9B
2015	—	$357M	—	—	9.8%	3.3%	—	$308M	$1.9B
2014	—	$303M	—	—	9.4%	3.0%	—	$186M	$1.7B
2013	—	$269M	—	—	12.9%	3.9%	$256M	$667M	—
2012	—	$195M	—	—	11.8%	3.6%	$292M	$161M	—
2011	—	$144M	—	—	11.6%	3.2%	$238M	$27M	—

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Jun '26	$4.0B	$324M	0.0%	0.0%	1.4%	0.4%	—	$13.6B	$1.4B
Mar '26	$4.8B	$822M	0.0%	0.0%	3.5%	1.0%	—	$12.9B	$1.4B
Dec '25	$3.6B	$151M	0.0%	0.0%	0.6%	0.2%	—	$13.0B	$1.4B
Sep '25	$3.4B	$273M	0.0%	0.0%	1.2%	0.3%	—	$13.1B	$1.4B
Jun '25	$3.2B	$368M	0.0%	0.0%	1.6%	0.5%	—	$12.9B	$14.3B
Mar '25	$3.7B	$704M	0.0%	0.0%	3.2%	1.0%	—	$13.1B	$16.7B
Dec '24	$2.7B	$259M	0.0%	0.0%	1.3%	0.4%	—	$13.2B	$15.0B
Sep '24	$2.8B	$313M	0.0%	0.0%	2.6%	0.5%	—	$8.3B	$2.0B
Jun '24	$2.8B	$283M	0.0%	0.0%	2.4%	0.4%	—	$8.3B	$1.4B
Mar '24	$3.3B	$608M	0.0%	0.0%	5.4%	1.0%	—	$8.3B	$1.8B
Dec '23	$2.4B	-$32M	0.0%	0.0%	-0.3%	-0.1%	—	$8.0B	$971M
Sep '23	$2.5B	$281M	0.0%	0.0%	2.7%	0.5%	—	$6.7B	$1.0B
Jun '23	$2.4B	$235M	0.0%	0.0%	2.3%	0.4%	—	$7.1B	$952M
Mar '23	$2.7B	$487M	0.0%	0.0%	5.0%	1.1%	—	$6.9B	$1.5B
Dec '22	$2.0B	$136M	100.0%	0.0%	1.5%	0.4%	—	$6.5B	$738M
Sep '22	$2.0B	$256M	100.0%	0.0%	3.0%	0.7%	—	$6.2B	$811M
Jun '22	$2.0B	$284M	100.0%	0.0%	3.2%	0.7%	—	$6.4B	$682M
Mar '22	$2.4B	$439M	99.1%	0.0%	4.9%	1.0%	—	$6.2B	$859M
Dec '21	$2.0B	$109M	88.4%	0.0%	1.3%	0.3%	—	$6.3B	$868M
Sep '21	$2.1B	$225M	82.9%	0.0%	2.7%	0.8%	—	$5.5B	$6.0B

Valuation over time

How the market has priced AJG against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 44.0× (Mar '23) to 47.9× (Nov '26).
The price-to-sales ratio has fallen from 5.7× (Mar '23) to 5.1× (Nov '26).
The dividend yield has risen from 0.9% (Mar '23) to 0.9% (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is AJG growing its revenue and profit?

Over the past 5 years, Arthur J. Gallagher & Co.'s revenue has grown 14.8% per year, and net income grown 12.8% per year. These are computed facts, not advice.

How much debt does AJG have?

As of FY2025, Arthur J. Gallagher & Co. reported $13.0B of total debt against $1.4B of cash.

What is AJG's profit margin?

In FY2025, gross margin was —, operating margin —, and net margin 10.7%.

What is AJG's P/E ratio?

Arthur J. Gallagher & Co.'s P/E (TTM) is 45.56 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the AJG stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 47.9× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.