Arthur J. Gallagher & Co. Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	13,942	11,555	10,072	8,551	8,209
Revenue Growth (YoY)	20.66%	14.72%	17.79%	4.16%	17.22%
Cost of Revenue	8,006	6,676	5,826	5,084	5,367
Gross Profit	5,936	4,879	4,246	3,467	2,843
Selling, General & Admin	2,258	1,754	1,689	1,331	1,072
Depreciation & Amortization Expenses	1,122	843	697	599.6	566.3
Operating Income	2,556	2,282	1,860	1,536	1,204
Interest Income	769	473	368	150	102.5
Interest Expense	-639	-381	-297	-256.9	-226.1
Other Non-Operating Income (Expense)	-46	-26	-378	-83	-135.8
Total Non-Operating Income (Expense)	84	66	-307	-189.9	-259.4
Pretax Income	1,871	1,875	1,185	1,327	975.1
Provision for Income Taxes	368	404	219	211	20.1
Net Income	1,494	1,463	970	1,114	906.8
Minority Interest in Earnings	9	8	-4	1.8	48.2
Net Income to Common	1,494	1,463	970	1,114	906.8
Net Income Growth	2.12%	50.82%	-12.94%	22.87%	10.75%
Shares Outstanding (Basic)	256	221	215	210	203
Shares Outstanding (Diluted)	260	225	219	215	207
Shares Change (YoY)	15.60%	2.60%	2.14%	3.57%	6.31%
EPS (Basic)	5.83	6.63	4.51	5.30	4.47
EPS (Diluted)	5.74	6.50	4.42	5.19	4.37
EPS Growth	-11.69%	47.06%	-14.84%	18.76%	4.05%
Free Cash Flow	1,785	2,441	1,838	1,207	1,264
Free Cash Flow Growth	-26.87%	32.81%	52.24%	-4.47%	-26.00%
Free Cash Flow Per Share	6.86	10.85	8.38	5.62	6.10
Dividends Per Share	2.600	2.400	2.200	2.040	1.920
Dividend Growth	8.33%	9.09%	7.84%	6.25%	6.67%
Gross Margin	42.58%	42.22%	42.16%	40.55%	34.63%
Operating Margin	18.33%	19.75%	18.47%	17.97%	14.67%
Profit Margin	10.78%	12.73%	9.59%	13.05%	11.63%
FCF Margin	12.80%	21.13%	18.25%	14.12%	15.39%
EBITDA	3,678	3,125	2,557	2,136	1,770
EBITDA Margin	26.38%	27.04%	25.39%	24.98%	21.56%
EBIT	2,556	2,282	1,860	1,536	1,204
EBIT Margin	18.33%	19.75%	18.47%	17.97%	14.67%
Effective Tax Rate	19.67%	21.55%	18.48%	15.90%	2.06%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.