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 29 h ago 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

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	FCF	Total debt	Cash
2025	$13.9B	$1.5B	0.0%	0.0%	—	$13.0B	$1.4B
2024	$11.6B	$1.5B	0.0%	0.0%	—	$13.2B	$15.0B
2023	$10.1B	$970M	0.0%	0.0%	—	$8.0B	$971M
2022	$8.6B	$1.1B	99.7%	0.0%	—	$6.5B	$738M
2021	$8.2B	$907M	85.7%	0.0%	—	$6.3B	$868M
2020	$7.0B	$819M	87.4%	0.0%	—	$4.5B	$3.6B
2019	$7.2B	$669M	81.2%	0.0%	—	$4.6B	$2.6B
2018	$6.9B	$634M	73.8%	0.0%	—	$385M	$2.2B
2017	$6.2B	$481M	73.8%	0.0%	—	$310M	$2.3B
2016	$5.7B	$397M	75.2%	0.0%	$432M	$605M	$1.9B
2015	—	$357M	—	—	—	$308M	$1.9B
2014	—	$303M	—	—	—	$186M	$1.7B
2013	—	$269M	—	—	$256M	$667M	—
2012	—	$195M	—	—	$292M	$161M	—
2011	—	$144M	—	—	$238M	$27M	—

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

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	FCF	Total debt	Cash
Mar '26	$4.8B	$822M	0.0%	0.0%	—	$12.9B	$1.4B
Dec '25	$3.6B	$151M	0.0%	0.0%	—	$13.0B	$1.4B
Sep '25	$3.4B	$273M	0.0%	0.0%	—	$13.1B	$1.4B
Jun '25	$3.2B	$366M	0.0%	0.0%	—	$12.9B	$14.3B
Mar '25	$3.7B	$704M	0.0%	0.0%	—	$13.1B	$16.7B
Dec '24	$2.7B	$259M	0.0%	0.0%	—	$13.2B	$15.0B
Sep '24	$2.8B	$313M	0.0%	0.0%	—	$8.3B	$2.0B
Jun '24	$2.8B	$283M	0.0%	0.0%	—	$8.3B	$1.4B
Mar '24	$3.3B	$608M	0.0%	0.0%	—	$8.3B	$1.8B
Dec '23	$2.4B	-$32M	0.0%	0.0%	—	$8.0B	$971M
Sep '23	$2.5B	$281M	0.0%	0.0%	—	$6.7B	$1.0B
Jun '23	$2.4B	$235M	0.0%	0.0%	—	$7.1B	$952M
Mar '23	$2.7B	$487M	0.0%	0.0%	—	$6.9B	$1.5B
Dec '22	$2.0B	$136M	100.0%	0.0%	—	$6.5B	$738M
Sep '22	$2.0B	$256M	100.0%	0.0%	—	$6.2B	$811M
Jun '22	$2.0B	$284M	100.0%	0.0%	—	$6.4B	$682M
Mar '22	$2.4B	$439M	99.1%	0.0%	—	$6.2B	$859M
Dec '21	$2.0B	$109M	88.4%	0.0%	—	$6.3B	$868M
Sep '21	$2.1B	$225M	82.9%	0.0%	—	$5.5B	$6.0B
Jun '21	$1.9B	$190M	86.1%	0.0%	—	$6.1B	$6.4B

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 fallen from 44.1× (Mar '23) to 37.5× (Jun '26).
The price-to-sales ratio has fallen from 5.7× (Mar '23) to 4.0× (Jun '26).
The dividend yield has risen from 0.9% (Mar '23) to 1.2% (Jun '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?

As of Jun '26, Arthur J. Gallagher & Co. traded at a price-to-earnings ratio of about 37.5× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. 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), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.