What is Gallagher (ARTHUR J.) & Co.'s earnings per share (EPS)?

Gallagher (ARTHUR J.) & Co. (AJG) reported diluted earnings per share of $5.74 for fiscal year 2025. This represents a -11.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Gallagher (ARTHUR J.) & Co. Financials

AJG

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Gallagher (ARTHUR J.) & Co. (AJG) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI AJG FY2025 2026-05-07

Acquisition-led expansion is turning AJG into a larger but less cash-converting platform as deal spending absorbs balance-sheet flexibility.

Over the last year, cash-on-hand fell from $15.0B to $1.4B, a swing that lines up with a jump in goodwill and points to a large acquisition cycle rather than routine reinvestment. Operating cash flow then slipped to $1.9B even as revenue reached $13.9B, so the bigger platform is not yet converting scale into proportionally better cash.

Assets expanded much faster than earnings over the last three years, and return on assets eased from 2.9% to 2.1%, which means balance-sheet growth is outrunning profit extraction. That usually happens when acquired assets and intangible balances arrive before their earnings are fully reflected.

Debt-to-equity improved to 0.5x, but interest expense still climbed to $639M; the company is not relying more heavily on leverage, yet the enlarged financing stack is costing more to carry. With the current ratio back near 1.1x after a one-year spike, liquidity looks serviceable rather than abundant once acquisition cash is spent.

Financial Health Signals

Financial Profile 33/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Gallagher (ARTHUR J.) & Co.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Growth

Gallagher (ARTHUR J.) & Co.'s revenue surged 20.7% year-over-year to $13.9B, reflecting rapid business expansion. This strong growth earns a score of 63/100.

Leverage

Gallagher (ARTHUR J.) & Co. carries a low D/E ratio of 0.52, meaning only $0.52 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 91/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Gallagher (ARTHUR J.) & Co.'s current ratio of 1.06 is below the typical benchmark, resulting in a score of 16/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Returns

Gallagher (ARTHUR J.) & Co. generates a 6.4% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 27/100. This is down from 7.3% the prior year.

Piotroski F-Score Neutral

5/9

Gallagher (ARTHUR J.) & Co. passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.29x

For every $1 of reported earnings, Gallagher (ARTHUR J.) & Co. generates $1.29 in operating cash flow ($1.9B OCF vs $1.5B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$13.9B

YoY+20.7%

5Y CAGR+14.8%

10Y CAGR+10.0%

Gallagher (ARTHUR J.) & Co. generated $13.9B in revenue in fiscal year 2025. This represents an increase of 20.7% from the prior year.

EBITDA

N/A

Net Income

$1.5B

YoY+2.1%

5Y CAGR+12.8%

10Y CAGR+15.4%

Gallagher (ARTHUR J.) & Co. reported $1.5B in net income in fiscal year 2025. This represents an increase of 2.1% from the prior year.

EPS (Diluted)

$5.74

YoY-11.7%

5Y CAGR+6.4%

10Y CAGR+10.8%

Gallagher (ARTHUR J.) & Co. earned $5.74 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 11.7% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$1.4B

YoY-90.7%

5Y CAGR+16.0%

10Y CAGR+11.3%

Gallagher (ARTHUR J.) & Co. held $1.4B in cash against $12.1B in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

257M

YoY+0.9%

5Y CAGR+5.8%

10Y CAGR+3.8%

Gallagher (ARTHUR J.) & Co. had 257M shares outstanding in fiscal year 2025. This represents an increase of 0.9% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

10.7%

YoY-1.9pp

5Y CAGR-1.0pp

10Y CAGR+4.1pp

Gallagher (ARTHUR J.) & Co.'s net profit margin was 10.7% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.9 percentage points from the prior year.

Return on Equity

6.4%

YoY-0.8pp

5Y CAGR-6.8pp

10Y CAGR-3.4pp

Gallagher (ARTHUR J.) & Co.'s ROE was 6.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.8 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

AJG Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$13.9B+20.7%	$11.6B+14.7%	$10.1B+17.8%	$8.6B+4.2%	$8.2B+17.2%	$7.0B
Cost of Revenue	N/A	N/A	N/A	$22.9M-98.0%	$1.2B+33.0%	$882.1M
Gross Profit	N/A	N/A	N/A	$8.5B+21.2%	$7.0B+14.9%	$6.1B
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$7.8B+20.2%	$6.5B+14.8%	$5.7B+18.4%	$4.8B+22.2%	$3.9B+13.3%	$3.5B
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$639.0M+67.7%	$381.0M+28.3%	$297.0M+15.6%	$256.9M+13.6%	$226.1M+15.1%	$196.4M
Income Tax	$368.0M-8.9%	$404.0M+84.5%	$219.0M+3.8%	$211.0M+949.8%	$20.1M+57.0%	$12.8M
Net Income	$1.5B+2.1%	$1.5B+50.8%	$970.0M-12.9%	$1.1B+22.9%	$906.8M+10.7%	$818.8M
EPS (Diluted)	$5.74-11.7%	$6.50+47.1%	$4.42-14.8%	$5.19+18.8%	$4.37+4.0%	$4.20

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$4.8B+31.1%	$3.6B+7.8%	$3.4B+4.5%	$3.2B-13.6%	$3.7B+37.2%	$2.7B-3.2%	$2.8B+1.1%	$2.8B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$2.5B+13.9%	$2.2B+14.4%	$1.9B+7.1%	$1.8B-4.9%	$1.9B+22.1%	$1.6B-4.2%	$1.6B+0.1%	$1.6B
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$158.0M-2.2%	$161.6M+0.5%	$160.8M+1.4%	$158.6M+0.4%	$158.0M+55.5%	$101.6M+9.4%	$92.9M-1.5%	$94.3M
Income Tax	$220.0M+762.7%	$25.5M-65.2%	$73.3M-30.3%	$105.2M-35.9%	$164.0M+119.8%	$74.6M-16.4%	$89.2M+11.2%	$80.2M
Net Income	$822.0M+442.6%	$151.5M-44.4%	$272.7M-25.5%	$365.8M-48.0%	$704.0M+172.2%	$258.6M-17.3%	$312.6M+10.3%	$283.4M
EPS (Diluted)	$3.16	N/A	$1.04-25.7%	$1.40-48.5%	$2.72	N/A	$1.39+9.4%	$1.27

AJG Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$70.7B+10.0%	$64.3B+24.5%	$51.6B+34.6%	$38.4B+15.4%	$33.2B+48.8%	$22.3B
Current Assets	$34.4B-22.1%	$44.1B+37.4%	$32.1B+44.1%	$22.3B+26.1%	$17.7B+58.8%	$11.1B
Cash & Equivalents	$1.4B-90.7%	$15.0B+1443.5%	$971.0M+31.5%	$738.4M+83.4%	$402.6M-39.4%	$664.6M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$5.2B+32.8%	$3.9B+2.9%	$3.8B+30.1%	$2.9B	N/A	N/A
Goodwill	$22.6B+84.1%	$12.3B+6.9%	$11.5B+20.9%	$9.5B+9.5%	$8.7B+41.4%	$6.1B
Total Liabilities	$47.3B+7.4%	$44.1B+8.0%	$40.8B+39.9%	$29.2B+17.7%	$24.8B+54.0%	$16.1B
Current Liabilities	$32.5B+11.1%	$29.3B-5.8%	$31.1B+45.6%	$21.3B+27.5%	$16.7B+65.1%	$10.1B
Long-Term Debt	$12.1B-4.9%	$12.7B+81.7%	$7.0B+25.9%	$5.6B-4.3%	$5.8B+36.2%	$4.3B
Total Equity	$23.3B+15.7%	$20.2B+87.0%	$10.8B+17.8%	$9.1B+7.5%	$8.5B+37.5%	$6.2B
Retained Earnings	$5.8B+16.4%	$5.0B+23.0%	$4.1B+13.8%	$3.6B+23.6%	$2.9B+21.5%	$2.4B

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$78.3B+10.8%	$70.7B-10.6%	$79.1B-1.3%	$80.1B+8.1%	$74.1B+15.3%	$64.3B+12.3%	$57.2B-9.1%	$63.0B
Current Assets	$42.0B+22.3%	$34.4B-20.1%	$43.0B-25.6%	$57.8B+8.2%	$53.4B+21.1%	$44.1B+18.3%	$37.3B-13.9%	$43.3B
Cash & Equivalents	$1.4B+1.2%	$1.4B-0.2%	$1.4B-90.2%	$14.3B-14.3%	$16.7B+11.4%	$15.0B+641.1%	$2.0B+42.9%	$1.4B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$6.0B+15.2%	$5.2B-4.6%	$5.4B+14.5%	$4.7B+4.8%	$4.5B+16.0%	$3.9B-2.3%	$4.0B-4.5%	$4.2B
Goodwill	$23.0B+1.6%	$22.6B+1.7%	$22.2B+61.7%	$13.7B+8.1%	$12.7B+3.6%	$12.3B+0.6%	$12.2B+2.3%	$11.9B
Total Liabilities	$54.5B+15.2%	$47.3B-15.2%	$55.8B-2.2%	$57.1B+10.3%	$51.7B+17.4%	$44.1B-2.1%	$45.0B-12.4%	$51.4B
Current Liabilities	$39.5B+21.6%	$32.5B-20.2%	$40.8B-4.2%	$42.5B+14.9%	$37.0B+26.6%	$29.3B-16.9%	$35.2B-15.4%	$41.6B
Long-Term Debt	$12.1B-0.2%	$12.1B0.0%	$12.1B0.0%	$12.1B-2.6%	$12.4B-2.5%	$12.7B+63.4%	$7.8B0.0%	$7.8B
Total Equity	$23.8B+1.9%	$23.3B+0.5%	$23.2B+0.8%	$23.0B+3.1%	$22.3B+10.7%	$20.2B+65.4%	$12.2B+5.3%	$11.6B
Retained Earnings	$6.4B+11.0%	$5.8B-0.3%	$5.8B+1.8%	$5.7B+3.6%	$5.5B+10.8%	$5.0B+2.6%	$4.9B+3.8%	$4.7B

AJG Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$1.9B-25.3%	$2.6B+27.1%	$2.0B+46.2%	$1.4B-0.2%	$1.4B-22.9%	$1.8B
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$15.9B-900.4%	-$1.6B+51.8%	-$3.3B-227.7%	-$1.0B+70.7%	-$3.4B-628.0%	-$471.4M
Financing Cash Flow	$1.7B-86.9%	$13.1B+354.1%	$2.9B+1251.8%	$212.6M-92.9%	$3.0B+693.1%	-$505.1M
Dividends Paid	$667.0M+27.0%	$525.0M+10.8%	$474.0M+10.4%	$429.5M+9.6%	$392.0M+12.8%	$347.4M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	$957.0M+27.1%	$753.0M+3.0%	$731.3M+271.5%	-$426.3M-148.9%	$872.0M+17.9%	$739.4M-20.9%	$934.8M+682.3%	$119.5M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$238.0M+49.5%	-$471.6M+96.6%	-$13.8B-924.4%	-$1.3B-389.3%	-$275.0M+67.9%	-$857.0M-272.0%	-$230.4M+25.1%	-$307.7M
Financing Cash Flow	-$723.0M-318.2%	-$172.9M-130.4%	$568.6M+170.4%	$210.3M-81.0%	$1.1B-91.1%	$12.5B+1944.1%	$611.5M+1236.6%	-$53.8M
Dividends Paid	$180.0M+7.5%	$167.5M+0.4%	$166.9M+0.2%	$166.6M+0.4%	$166.0M+26.3%	$131.4M-0.2%	$131.6M+0.2%	$131.3M
Share Buybacks	$310.0M	N/A	N/A	N/A	$0	N/A	N/A	N/A

AJG Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	99.7%+14.0pp	85.7%-1.7pp	87.4%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	10.7%-1.9pp	12.7%+3.0pp	9.6%-3.4pp	13.0%+2.0pp	11.1%-0.6pp	11.7%
Return on Equity	6.4%-0.8pp	7.3%-1.7pp	9.0%-3.2pp	12.2%+1.5pp	10.7%-2.6pp	13.2%
Return on Assets	2.1%-0.2pp	2.3%+0.4pp	1.9%-1.0pp	2.9%+0.2pp	2.7%-0.9pp	3.7%
Current Ratio	1.06-0.5	1.51+0.5	1.03-0.0	1.04-0.0	1.06-0.0	1.10
Debt-to-Equity	0.52-0.1	0.63-0.0	0.65+0.0	0.61-0.1	0.680.0	0.69
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	17.3%+13.1pp	4.2%-3.9pp	8.1%-3.3pp	11.4%-7.5pp	18.9%+9.4pp	9.5%-1.6pp	11.1%+0.9pp	10.2%
Return on Equity	3.5%+2.8pp	0.7%-0.5pp	1.2%-0.4pp	1.6%-1.6pp	3.1%+1.9pp	1.3%-1.3pp	2.6%+0.1pp	2.5%
Return on Assets	1.1%+0.8pp	0.2%-0.1pp	0.3%-0.1pp	0.5%-0.5pp	0.9%+0.5pp	0.4%-0.1pp	0.5%+0.1pp	0.4%
Current Ratio	1.060.0	1.060.0	1.06-0.3	1.36-0.1	1.44-0.1	1.51+0.4	1.06+0.0	1.04
Debt-to-Equity	0.51-0.0	0.520.0	0.520.0	0.53-0.0	0.56-0.1	0.630.0	0.64-0.0	0.67
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Gallagher (ARTHUR J.) & Co.'s annual revenue?

Gallagher (ARTHUR J.) & Co. (AJG) reported $13.9B in total revenue for fiscal year 2025. This represents a 20.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Gallagher (ARTHUR J.) & Co.'s revenue growing?

Gallagher (ARTHUR J.) & Co. (AJG) revenue grew by 20.7% year-over-year, from $11.6B to $13.9B in fiscal year 2025.

Is Gallagher (ARTHUR J.) & Co. profitable?

Yes, Gallagher (ARTHUR J.) & Co. (AJG) reported a net income of $1.5B in fiscal year 2025, with a net profit margin of 10.7%.

How much debt does Gallagher (ARTHUR J.) & Co. have?

As of fiscal year 2025, Gallagher (ARTHUR J.) & Co. (AJG) had $1.4B in cash and equivalents against $12.1B in long-term debt.

What is Gallagher (ARTHUR J.) & Co.'s net profit margin?

Gallagher (ARTHUR J.) & Co. (AJG) had a net profit margin of 10.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Gallagher (ARTHUR J.) & Co.'s return on equity (ROE)?

Gallagher (ARTHUR J.) & Co. (AJG) has a return on equity of 6.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Gallagher (ARTHUR J.) & Co.'s operating cash flow?

Gallagher (ARTHUR J.) & Co. (AJG) generated $1.9B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Gallagher (ARTHUR J.) & Co.'s total assets?

Gallagher (ARTHUR J.) & Co. (AJG) had $70.7B in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Gallagher (ARTHUR J.) & Co. have outstanding?

Gallagher (ARTHUR J.) & Co. (AJG) had 257M shares outstanding as of fiscal year 2025.

What is Gallagher (ARTHUR J.) & Co.'s current ratio?

Gallagher (ARTHUR J.) & Co. (AJG) had a current ratio of 1.06 as of fiscal year 2025, which is considered adequate.

What is Gallagher (ARTHUR J.) & Co.'s debt-to-equity ratio?

Gallagher (ARTHUR J.) & Co. (AJG) had a debt-to-equity ratio of 0.52 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Gallagher (ARTHUR J.) & Co.'s return on assets (ROA)?

Gallagher (ARTHUR J.) & Co. (AJG) had a return on assets of 2.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Gallagher (ARTHUR J.) & Co.'s Piotroski F-Score?

Gallagher (ARTHUR J.) & Co. (AJG) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Gallagher (ARTHUR J.) & Co.'s earnings high quality?

Gallagher (ARTHUR J.) & Co. (AJG) has an earnings quality ratio of 1.29x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Gallagher (ARTHUR J.) & Co.?

Gallagher (ARTHUR J.) & Co. (AJG) scores 33 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.