Skip to content
AnalystLens

Arthur J. Gallagher & Co.AJG

Sector
Financial Services
Industry
Insurance Agents, Brokers & Service
Exchange
NYSE

Stock Price $AJG

Latest filings

You are here#29 of 58 in Financials by market cap

Filing record · 2016–202610-K1110-Q328-K136

AJG filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 136 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · May ’17May ’17
  2. Material agreement8-K · Jun ’19Jun ’19
  3. Material agreement8-K · Dec ’21Dec ’21
  4. Deal closed8-K · Aug ’25Aug ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  18. $13.94B
YoY changeLargest recent move+17.8%in FY23Latest +20.7%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All AJG Financial Metrics54 metrics

Income Statement12

Balance Sheet23

Cash Flow15

Per Share4

02—Overview

Arthur J. Gallagher & Co. Financial Overview 2021–2025

Updated Jul 10, 2026

Arthur J. Gallagher & Co. recently cemented its status as a relentless consolidation engine by closing a massive $13.8 billiona cash acquisition of AssuredPartners in FY2025. This record-setting buyout underscores the core investment thesis for the global insurance broker: an aggressive, debt-and-equity-fueled roll-up strategy that successfully translates rapid inorganic scale into expanding operational profitability. By routinely absorbing dozens of targets annually, the firm continuously deepens its international footprint while pushing margins higher.

The success of this strategy is evident across its long-term financial arc, as diluted earnings per share expanded from $4.37 in FY2021 to $5.74b by the close of FY2025. In FY2025, the company’s primary brokerage unit drove 87% of total revenue and widened its adjusted EBITDAC margin by 145 basis points to reach a highly efficient 36.5%. This robust profitability supported both ongoing acquisitions and direct shareholder returns, including $674 million in dividends paid out over the year. The firm's momentum has only accelerated since, with top-line performance surging 27% year-over-year to reach $4.716 billion in Q1 2026. Investors have aggressively rewarded this execution; at the close of FY2025, the market valued the firm at a $66.5 billion market cap, with shares priced at $258.79 and trading at a premium 45.1x earnings multiple.

Recent Developments (Q4 2025 and Q1 2026)

Arthur J. Gallagher & Co. maintained aggressive momentum in Q1 2026, highlighted by net earnings climbing 17% year-over-year to $822 millionc, or $3.16 per share. The firm executed nine new acquisitions during the quarter, building on its $1.2 billion buyout of Woodruff Sawyer in 2025. Operational execution remained stout, with consolidated EBITDAC jumping 16% to $1.557 billion and the risk management unit achieving 10% organic fee growth. Meanwhile, the board reduced its size to nine members following the retirement of Sherry Barrat in May 2026.

Bulls champion the firm’s shareholder returns, pointing to $310 milliond in stock repurchases during Q1 2026. Conversely, bears warn that slower brokerage organic growth of 4% could indicate operational headwinds absent constant buyouts. The stock traded at 35.2x earnings as of May 7, 2026.

What to watch: organic growth sustainability in the primary brokerage segment; cash flow updates regarding the company's clean energy investments.

03—Filings

Recent SEC Filings

  1. 8-KArthur J. Gallagher & Co. 8-K Report, Executive Changes (Aug 27, 2026)This 8-K filing from Arthur J. Gallagher & Co. (AJG) announces a planned leadership transition in its accounting department. Richard C. Cary, who has served as Controller and Chief Accounting Officer since 2001 (and Controller since 1997), has notified the company of his intention to retire in 2028. He will step down from his principal accounting officer roles effective September 30, 2026, but will remain with the company in a Corporate Vice President role to support the transition. Kyle G. Koreyva will succeed Mr. Cary as Controller and Chief Accounting Officer, effective October 1, 2026. Mr. Koreyva joined AJG as part of the AssuredPartners acquisition in August 2025 and most recently served as Vice President, Accounting. His appointment is part of the company's succession planning, and there are no changes to his current compensation arrangements. The filing emphasizes that Mr. Cary's retirement is not related to any disagreements concerning financial matters.
  2. 8-KArthur J. Gallagher & Co. 8-K Report, Financial Results (Jul 30, 2026)Arthur J. Gallagher & Co. reported second quarter 2026 results that were strong on the top line but mixed on reported profitability. Revenues before reimbursements rose 24% to $3.96 billion (from $3.18 billion), and management cited 6% organic growth across the Brokerage and Risk Management segments. Reported diluted EPS fell to $1.25 from $1.40, and reported net earnings declined to $324 million from $368 million. The gap reflects $505 million of pretax Brokerage adjustments, mainly $218 million of after-tax amortization of intangibles and $84 million of after-tax acquisition integration costs, largely tied to AssuredPartners. On an adjusted basis, the picture is considerably better. Adjusted diluted EPS rose to $2.84 from $2.30, a roughly 23% increase, and adjusted EBITDAC grew 19% to $1.20 billion. However, the prior-year comparison is flattered by about $144 million of one-time-like interest income from the AssuredPartners financing proceeds, which depressed the year-over-year change in adjusted EBITDAC margin. Brokerage adjusted EBITDAC margin fell to 33.3% from 36.1%, and reported compensation and operating expense ratios rose, reflecting integration and technology spend as well as lower interest income. Investors should focus on organic growth and underlying margin trends excluding the financing effect. Balance sheet and capital allocation remained active. Total assets rose to $81.8 billion from $70.7 billion, driven largely by fiduciary assets and goodwill and intangibles from acquisitions. Corporate borrowings were about $13.5 billion, with current borrowings rising to $1.5 billion. The company repurchased about 0.9 million shares for roughly $170 million and declared a quarterly dividend of $0.70 per share, up from $0.65. The CFO Commentary and Supplemental Quarterly Data, referenced in Item 7.01, include 2026 estimates that were not part of this filing and should be reviewed separately.
  3. 8-KArthur J. Gallagher & Co. 8-K Report, Corporate Update (Jul 29, 2026)Arthur J. Gallagher & Co. (AJG) has filed a Form 8-K to announce the passing of Lead Independent Director David Johnson on July 22, 2026. This unfortunate event has led to a reduction in the Board of Directors' size from nine to eight members. The company has promptly addressed the leadership changes, with independent directors electing Ralph Nicoletti as the new Lead Independent Director. Furthermore, John Coldman has been appointed to serve on both the Compensation and Nominating/Governance Committees. These changes, while stemming from a somber event, demonstrate the Board's commitment to maintaining effective governance and oversight. Investors should monitor any potential impact on board dynamics and strategic decision-making processes, although the swift appointment of replacements suggests a focus on continuity.
  4. 8-KArthur J. Gallagher & Co. 8-K Report, Regulation FD Disclosure (Jun 17, 2026)Arthur J. Gallagher & Co. (AJG) filed an 8-K on June 17, 2026, primarily to disclose information related to an investor meeting held on the same date. The company previously announced plans for this meeting on June 3, 2026. The core of this filing is the availability of presentation materials, including an updated "CFO Commentary," accessible via the investor relations section of AJG's website. Investors should note that this commentary contains forward-looking statements and includes certain estimates related to the Company's 2026 financial results.
  5. 8-KArthur J. Gallagher & Co. 8-K Report, Shareholder Vote Results (May 13, 2026)Arthur J. Gallagher & Co. (AJG) filed an 8-K report on May 13, 2026, detailing the outcomes of its Annual Meeting of Stockholders held on May 12, 2026. The meeting confirmed strong shareholder support for key corporate governance matters. All nine director nominees were elected to serve until the 2027 Annual Meeting, indicating confidence in the current board's leadership and strategic direction. Furthermore, shareholders overwhelmingly ratified the appointment of Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2026. This broad approval underscores investor trust in the company's financial reporting integrity. The advisory "Say-on-Pay" proposal, regarding executive compensation, also received majority approval, signaling shareholder alignment with the company's compensation philosophy.
View all 8-K filings →
View all filings (10-K, 10-Q, 8-K, proxy & more) →

04—See also

Related Companies

Annual revenue over each company’s last eight fiscal years, each strip on its own scale from zero.