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
Operating Revenue	13,009	10,927	9,559	8,270	7,974
Revenue	13,009	10,927	9,559	8,270	7,974
Revenue Growth (YoY)	19.05%	14.31%	15.59%	3.72%	17.58%
Cost of Revenue	7,346	6,154	5,406	4,823	5,101
Gross Profit	5,663	4,773	4,153	3,447	2,873
Selling, General & Admin	2,114	1,617	1,550	1,331	1,072
Amortization of Goodwill & Intangibles	916	645.4	527.8	452.9	397.5
Other Operating Expenses	-	-	-	-	-102.5
Operating Expenses	3,236	2,440	2,243	1,929	1,519
Operating Income	2,427	2,334	1,910	1,519	1,355
Interest Expense	-639	-381.3	-296.7	-256.9	-226.1
Interest & Investment Income	769	473.2	367.3	150	-
EBT Excluding Unusual Items	2,557	2,425	1,981	1,412	1,129
Merger & Restructuring Charges	-462	-357.7	-345.3	-	-
Asset Writedown	-	-19.4	-3.5	-2	-17.6
Other Unusual Items	-224	-173.5	-447.1	-83	-135.8
Pretax Income	1,871	1,875	1,185	1,327	975.1
Income Tax Expense	368	404.4	219.1	211	20.1
Earnings From Continuing Operations	1,503	1,470	966	1,116	955
Minority Interest in Earnings	-9	-7.7	3.5	-1.8	-48.2
Net Income	1,494	1,463	969.5	1,114	906.8
Net Income to Common	1,494	1,463	969.5	1,114	906.8
Net Income Growth	2.14%	50.87%	-12.99%	22.87%	10.75%
Shares Outstanding (Basic)	256	221	215	210	203
Shares Outstanding (Diluted)	260	225	219	215	207
Shares Change (YoY)	15.62%	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	-	2,441	1,838	1,207	1,264
Free Cash Flow Per Share	-	10.85	8.38	5.62	6.10
Dividend 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	43.53%	43.68%	43.45%	41.69%	36.03%
Operating Margin	18.66%	21.36%	19.98%	18.37%	16.99%
Profit Margin	11.48%	13.39%	10.14%	13.47%	11.37%
Free Cash Flow Margin	-	22.34%	19.23%	14.60%	15.85%
EBITDA	3,384	3,156	2,603	2,117	1,903
EBITDA Margin	26.01%	28.88%	27.23%	25.59%	23.87%
D&A For EBITDA	956.67	822.9	693	597.6	548.7
EBIT	2,427	2,334	1,910	1,519	1,355
EBIT Margin	18.66%	21.36%	19.98%	18.37%	16.99%
Effective Tax Rate	19.67%	21.57%	18.49%	15.90%	2.06%
Revenue as Reported	13,942	11,555	10,072	8,551	8,209

Updated Jan 29, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q