Arthur J. Gallagher & Co., together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. The company operates in Brokerage and Risk Management segments. Its Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises. This segment performs activities, including marketing, underwriting, issuing policies, collecting premiums, appointing and supervising other agents, paying claims, and negotiating reinsurance; and offers services in the areas of insurance and reinsurance placement, risk of loss management, and management of employer sponsored benefit programs. The Risk Management segment provides contract claim settlement and administration services; and claims management, loss control consulting, and insurance property appraisal services. The company offers its services through a network of correspondent brokers and consultants. It serves commercial, industrial, public, religious, and nonprofit entities, as well as underwriting enterprises. The company was founded in 1927 and is headquartered in Rolling Meadows, Illinois.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $13.9B | $3.6B | $1.5B | $1.8B | 6.4% | 20.7% | 2.1% |
| 2024 | $11.6B | $3.1B | $1.5B | $2.4B | 7.3% | 14.7% | 50.8% |
| 2023 | $10.1B | $2.2B | $970M | $1.8B | 9.0% | 17.8% | -12.9% |
| 2022 | $8.6B | $2.2B | $1.1B | $1.2B | 12.2% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 8,550.60 | 10,072 | 11,555 | 13,942 |
| Cost Of Revenue | - | 4,953.20 | 5,826 | 6,676 | 8,006 |
| Gross Profit | - | 3,597.40 | 4,246 | 4,879 | 5,936 |
| Operating Expense | - | 1,930.50 | 2,386 | 2,597 | 3,380 |
| Operating Income | - | 1,666.90 | 1,860 | 2,282 | 2,556 |
| EBITDA | - | 2,183.50 | 2,179 | 3,099 | 3,632 |
| EBIT | - | 1,583.90 | 1,482 | 2,256 | 2,510 |
| Pretax Income | - | 1,327 | 1,185 | 1,875 | 1,871 |
| Tax Provision | - | 211 | 219 | 404 | 368 |
| Net Income | - | 1,114.20 | 970 | 1,463 | 1,494 |
| Net Income Common Stockholders | - | 1,114.20 | 970 | 1,463 | 1,494 |
| Total Expenses | - | 6,883.70 | 8,212 | 9,273 | 11,386 |
| Interest Expense | - | 256.90 | 297 | 381 | 639 |
| Normalized EBITDA | - | 2,266.50 | 2,557 | 3,125 | 3,678 |
| Normalized Income | - | 1,184 | 1,278.07 | 1,483.40 | 1,530.95 |
| Market Cap | 55,374.20 | 55,374.20 | 55,374.20 | 55,374.20 | 55,374.20 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Arthur J. Gallagher & Co.this co. | AJG | $55.2B | 37.06β premium | 2.37 | 6.4% | 18.57 |
| Aflac Incorporated | AFL | $61.1B | 16.20 | 2.00 | 12.4% | - |
| The Allstate Corporation | ALL | $56.8B | 5.35 | 1.92 | 35.9% | - |
| MetLife, Inc. | MET | $54.2B | 14.99 | 1.78 | 11.9% | - |
| Coinbase Global, Inc. | COIN | $51.9B |
| - |
| - |
| - |
| - |
| - |
| - |
| 41.86 |
| 3.57 |
| 8.5% |
| 27.45 |
| PayPal Holdings, Inc. | PYPL | $48.4B | 8.68 | 2.24 | 25.8% | 6.15 |
| State Street Corporation | STT | $46.5B | 14.27 | 1.73 | 12.1% | - |
| MSCI Inc. | MSCI | $45.3B | 35.85 | -16.24 | -45.3% | 25.43 |
| Ameriprise Financial, Inc. | AMP | $44.9B | 11.74 | 6.39 | 54.4% | - |
| Peer Median | - | 14.63 | 1.96 | 12.2% | 25.43 | |