Annual Income Statements for Arthur J. Gallagher & Co.
Annual Income Statements for Arthur J. Gallagher & Co.
This table shows Arthur J. Gallagher & Co.'s income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for Arthur J. Gallagher & Co.
This table shows Arthur J. Gallagher & Co.'s income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
Metric |
|
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Q2 2025 |
Net Income / (Loss) Attributable to Common Shareholders |
|
136 |
487 |
235 |
281 |
-32 |
608 |
283 |
313 |
258 |
704 |
366 |
Consolidated Net Income / (Loss) |
|
136 |
487 |
236 |
283 |
-40 |
613 |
285 |
314 |
258 |
709 |
366 |
Net Income / (Loss) Continuing Operations |
|
136 |
487 |
236 |
283 |
-40 |
613 |
285 |
314 |
258 |
709 |
366 |
Total Pre-Tax Income |
|
122 |
606 |
297 |
364 |
-82 |
773 |
366 |
403 |
333 |
873 |
471 |
Total Revenue |
|
1,964 |
2,638 |
2,364 |
2,419 |
2,354 |
3,165 |
2,681 |
2,714 |
2,614 |
3,569 |
3,062 |
Net Interest Income / (Expense) |
|
-64 |
-68 |
-78 |
-73 |
-78 |
-92 |
-94 |
-93 |
-102 |
-158 |
-159 |
Total Interest Income |
|
- |
0.00 |
0.00 |
0.00 |
- |
0.00 |
0.00 |
0.00 |
- |
0.00 |
0.00 |
Total Interest Expense |
|
64 |
68 |
78 |
73 |
78 |
92 |
94 |
93 |
102 |
158 |
159 |
Long-Term Debt Interest Expense |
|
64 |
68 |
78 |
73 |
78 |
92 |
94 |
93 |
102 |
158 |
159 |
Total Non-Interest Income |
|
2,028 |
2,706 |
2,442 |
2,492 |
2,432 |
3,257 |
2,775 |
2,807 |
2,716 |
3,727 |
3,221 |
Premiums Earned |
|
1,995 |
2,673 |
2,407 |
2,454 |
2,393 |
3,218 |
2,736 |
2,767 |
2,680 |
3,688 |
3,178 |
Other Non-Interest Income |
|
33 |
33 |
35 |
38 |
39 |
39 |
39 |
40 |
36 |
39 |
43 |
Total Non-Interest Expense |
|
1,842 |
2,032 |
2,067 |
2,055 |
2,436 |
2,392 |
2,316 |
2,311 |
2,281 |
2,696 |
2,591 |
Salaries and Employee Benefits |
|
1,175 |
1,416 |
1,413 |
1,425 |
1,428 |
1,726 |
1,620 |
1,622 |
1,554 |
1,898 |
1,803 |
Other Operating Expenses |
|
401 |
416 |
469 |
461 |
489 |
474 |
465 |
494 |
475 |
529 |
562 |
Depreciation Expense |
|
37 |
38 |
41 |
43 |
44 |
45 |
41 |
45 |
46 |
44 |
50 |
Amortization Expense |
|
117 |
122 |
135 |
129 |
146 |
162 |
171 |
165 |
167 |
209 |
181 |
Restructuring Charge |
|
112 |
42 |
9.40 |
-2.50 |
329 |
-16 |
19 |
-15 |
39 |
16 |
-5.60 |
Income Tax Expense |
|
-14 |
119 |
62 |
81 |
-43 |
160 |
80 |
89 |
75 |
164 |
105 |
Net Income / (Loss) Attributable to Noncontrolling Interest |
|
- |
0.10 |
1.30 |
2.50 |
-7.40 |
4.30 |
2.00 |
1.50 |
-0.10 |
4.50 |
0.40 |
Basic Earnings per Share |
|
$0.64 |
$2.29 |
$1.09 |
$1.30 |
($0.17) |
$2.80 |
$1.30 |
$1.43 |
$1.10 |
$2.76 |
$1.43 |
Weighted Average Basic Shares Outstanding |
|
212.09M |
214.25M |
215.51M |
215.90M |
216.80M |
218.50M |
219.10M |
219.40M |
254.70M |
256.10M |
256.40M |
Diluted Earnings per Share |
|
$0.62 |
$2.24 |
$1.07 |
$1.28 |
($0.17) |
$2.74 |
$1.27 |
$1.39 |
$1.10 |
$2.72 |
$1.40 |
Weighted Average Diluted Shares Outstanding |
|
212.09M |
214.25M |
215.51M |
215.90M |
216.80M |
218.50M |
219.10M |
219.40M |
254.70M |
256.10M |
256.40M |
Weighted Average Basic & Diluted Shares Outstanding |
|
212.09M |
214.25M |
215.51M |
215.90M |
216.80M |
218.50M |
219.10M |
219.40M |
254.70M |
256.10M |
256.40M |
Cash Dividends to Common per Share |
|
$0.51 |
$0.55 |
$0.55 |
$0.55 |
$0.55 |
$0.60 |
$0.60 |
$0.60 |
$0.60 |
$0.65 |
$0.65 |
Annual Cash Flow Statements for Arthur J. Gallagher & Co.
This table details how cash moves in and out of Arthur J. Gallagher & Co.'s business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
Metric |
|
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
|
16 |
211 |
45 |
367 |
-68 |
387 |
950 |
892 |
498 |
1,579 |
13,925 |
Net Cash From Operating Activities |
|
578 |
1,118 |
650 |
854 |
765 |
1,191 |
1,807 |
1,392 |
1,390 |
2,032 |
2,583 |
Net Cash From Continuing Operating Activities |
|
578 |
1,118 |
650 |
854 |
765 |
1,191 |
1,807 |
1,392 |
1,390 |
2,032 |
2,583 |
Net Income / (Loss) Continuing Operations |
|
328 |
389 |
430 |
517 |
676 |
716 |
858 |
955 |
1,116 |
966 |
1,470 |
Consolidated Net Income / (Loss) |
|
328 |
389 |
430 |
517 |
676 |
716 |
858 |
955 |
1,116 |
966 |
1,470 |
Depreciation Expense |
|
259 |
334 |
351 |
386 |
419 |
474 |
562 |
566 |
600 |
697 |
842 |
Amortization Expense |
|
23 |
23 |
29 |
34 |
42 |
47 |
61 |
69 |
85 |
105 |
118 |
Non-Cash Adjustments to Reconcile Net Income |
|
-39 |
4.40 |
-20 |
-37 |
-62 |
-239 |
-154 |
-205 |
-311 |
8.00 |
86 |
Changes in Operating Assets and Liabilities, net |
|
7.70 |
368 |
-140 |
-45 |
-309 |
193 |
479 |
7.40 |
-100 |
256 |
67 |
Net Cash From Investing Activities |
|
-2,012 |
-369 |
-485 |
-511 |
-910 |
-1,449 |
-471 |
-3,432 |
-1,005 |
-3,293 |
-1,587 |
Net Cash From Continuing Investing Activities |
|
-2,012 |
-369 |
-485 |
-511 |
-910 |
-1,449 |
-471 |
-3,432 |
-1,005 |
-3,293 |
-1,587 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-82 |
-99 |
-218 |
-129 |
-124 |
-139 |
-99 |
-129 |
-183 |
-194 |
-142 |
Acquisitions |
|
- |
-250 |
- |
-376 |
-785 |
-1,267 |
-324 |
-3,251 |
-765 |
-3,042 |
-1,462 |
Purchase of Investment Securities |
|
-1,938 |
-30 |
-32 |
-8.90 |
-16 |
-124 |
-56 |
-68 |
-68 |
-67 |
-2.90 |
Sale and/or Maturity of Investments |
|
8.20 |
9.20 |
7.80 |
3.20 |
15 |
81 |
8.20 |
16 |
11 |
9.90 |
20 |
Net Cash From Financing Activities |
|
1,564 |
-61 |
-12 |
-48 |
162 |
638 |
-505 |
2,996 |
213 |
2,874 |
13,053 |
Net Cash From Continuing Financing Activities |
|
1,564 |
-61 |
-12 |
-48 |
162 |
638 |
-505 |
2,996 |
213 |
2,874 |
13,053 |
Issuance of Debt |
|
2,410 |
849 |
3,066 |
3,991 |
3,475 |
5,040 |
2,630 |
2,957 |
2,369 |
5,429 |
1,663 |
Issuance of Common Equity |
|
1,004 |
203 |
52 |
60 |
82 |
101 |
112 |
1,547 |
123 |
120 |
8,507 |
Repayment of Debt |
|
-1,593 |
-794 |
-2,669 |
-3,731 |
-3,001 |
-4,045 |
-2,710 |
-1,198 |
-2,530 |
-3,568 |
3,552 |
Payment of Dividends |
|
-223 |
-258 |
-272 |
-283 |
-356 |
-321 |
-347 |
-392 |
-430 |
-474 |
-525 |
Other Financing Activities, Net |
|
-34 |
-62 |
-87 |
-68 |
-26 |
-137 |
-189 |
82 |
680 |
1,367 |
-144 |
Effect of Exchange Rate Changes |
|
- |
- |
-108 |
72 |
-85 |
6.10 |
120 |
-65 |
-100 |
-34 |
-123 |
Quarterly Cash Flow Statements for Arthur J. Gallagher & Co.
This table details how cash moves in and out of Arthur J. Gallagher & Co.'s business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
Metric |
|
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Q2 2025 |
Net Change in Cash & Equivalents |
|
-313 |
1,127 |
851 |
-157 |
-242 |
538 |
-243 |
1,457 |
12,174 |
1,771 |
-1,433 |
Net Cash From Operating Activities |
|
608 |
429 |
12 |
897 |
694 |
789 |
120 |
935 |
739 |
872 |
-426 |
Net Cash From Continuing Operating Activities |
|
608 |
429 |
12 |
897 |
694 |
789 |
120 |
935 |
739 |
872 |
-426 |
Net Income / (Loss) Continuing Operations |
|
136 |
487 |
236 |
283 |
-40 |
613 |
285 |
314 |
258 |
709 |
366 |
Consolidated Net Income / (Loss) |
|
136 |
487 |
236 |
283 |
-40 |
613 |
285 |
314 |
258 |
709 |
366 |
Depreciation Expense |
|
154 |
159 |
176 |
172 |
190 |
208 |
212 |
210 |
213 |
253 |
231 |
Amortization Expense |
|
23 |
23 |
26 |
28 |
28 |
27 |
31 |
30 |
30 |
28 |
33 |
Non-Cash Adjustments to Reconcile Net Income |
|
-201 |
0.70 |
-40 |
7.50 |
40 |
135 |
-53 |
-12 |
96 |
156 |
-545 |
Changes in Operating Assets and Liabilities, net |
|
497 |
-241 |
-384 |
407 |
475 |
-193 |
-356 |
393 |
143 |
-275 |
-510 |
Net Cash From Investing Activities |
|
-443 |
-257 |
-809 |
-327 |
-1,901 |
-192 |
-308 |
-230 |
-857 |
-275 |
-1,345 |
Net Cash From Continuing Investing Activities |
|
-443 |
-257 |
-809 |
-327 |
-1,901 |
-192 |
-308 |
-230 |
-857 |
-275 |
-1,345 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-42 |
-30 |
-59 |
-59 |
-46 |
-30 |
-32 |
-37 |
-44 |
-28 |
-39 |
Acquisitions |
|
-346 |
-311 |
-738 |
-134 |
-1,858 |
-251 |
-267 |
-151 |
-793 |
-332 |
-1,330 |
Purchase of Investment Securities |
|
-60 |
84 |
-16 |
-136 |
0.10 |
89 |
-10 |
-62 |
-19 |
83 |
24 |
Sale and/or Maturity of Investments |
|
5.80 |
0.10 |
4.70 |
1.40 |
3.70 |
0.10 |
1.60 |
20 |
-1.50 |
1.80 |
0.40 |
Net Cash From Financing Activities |
|
-661 |
958 |
1,602 |
-669 |
982 |
-5.40 |
-54 |
612 |
12,500 |
1,107 |
210 |
Net Cash From Continuing Financing Activities |
|
-661 |
958 |
1,602 |
-669 |
982 |
-5.40 |
-54 |
612 |
12,500 |
1,107 |
210 |
Issuance of Debt |
|
280 |
1,499 |
1,270 |
417 |
2,243 |
1,645 |
585 |
-568 |
- |
0.60 |
2.70 |
Issuance of Common Equity |
|
21 |
30 |
36 |
34 |
20 |
52 |
42 |
45 |
8,369 |
1,335 |
44 |
Repayment of Debt |
|
-421 |
-749 |
-995 |
-819 |
-1,007 |
-1,317 |
-593 |
1,180 |
4,272 |
-73 |
690 |
Payment of Dividends |
|
-108 |
-117 |
-119 |
-119 |
-119 |
-131 |
-131 |
-132 |
-132 |
-166 |
-167 |
Other Financing Activities, Net |
|
-432 |
295 |
1,410 |
-182 |
-156 |
-255 |
43 |
86 |
-8.30 |
10 |
-360 |
Effect of Exchange Rate Changes |
|
183 |
-3.20 |
45 |
-58 |
-17 |
-55 |
-1.00 |
141 |
-209 |
68 |
128 |
Annual Balance Sheets for Arthur J. Gallagher & Co.
This table presents Arthur J. Gallagher & Co.'s assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Total Assets |
|
10,010 |
10,911 |
11,490 |
14,910 |
16,334 |
19,635 |
22,331 |
33,345 |
38,358 |
51,616 |
64,255 |
Cash and Due from Banks |
|
314 |
480 |
546 |
681 |
607 |
605 |
665 |
403 |
738 |
972 |
14,987 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Premises and Equipment, Net |
|
195 |
249 |
378 |
412 |
437 |
467 |
451 |
501 |
576 |
726 |
650 |
Goodwill |
|
3,450 |
3,663 |
3,768 |
4,165 |
4,626 |
5,619 |
6,127 |
8,666 |
9,489 |
11,476 |
12,270 |
Intangible Assets |
|
1,776 |
1,699 |
1,627 |
1,645 |
1,773 |
2,319 |
2,400 |
3,954 |
3,372 |
4,633 |
4,530 |
Other Assets |
|
1,445 |
1,673 |
1,935 |
2,300 |
2,404 |
3,187 |
3,344 |
4,005 |
24,182 |
33,809 |
31,817 |
Total Liabilities & Shareholders' Equity |
|
10,010 |
10,911 |
11,490 |
14,910 |
16,334 |
19,635 |
22,331 |
33,345 |
38,358 |
51,616 |
64,255 |
Total Liabilities |
|
6,705 |
7,222 |
7,834 |
10,610 |
11,764 |
14,419 |
16,099 |
24,785 |
29,168 |
40,801 |
44,076 |
Short-Term Debt |
|
2,763 |
3,122 |
3,574 |
5,276 |
6,105 |
6,969 |
7,860 |
14,091 |
310 |
670 |
200 |
Accrued Interest Payable |
|
624 |
813 |
772 |
948 |
1,055 |
1,348 |
1,596 |
1,895 |
2,003 |
2,553 |
3,586 |
Other Short-Term Payables |
|
128 |
115 |
140 |
355 |
379 |
434 |
476 |
521 |
18,783 |
27,553 |
25,249 |
Long-Term Debt |
|
2,253 |
2,209 |
2,270 |
2,843 |
3,245 |
3,987 |
4,470 |
6,039 |
5,805 |
7,295 |
12,957 |
Other Long-Term Liabilities |
|
937 |
964 |
1,078 |
1,188 |
979 |
1,682 |
1,698 |
2,240 |
2,267 |
2,730 |
2,083 |
Total Equity & Noncontrolling Interests |
|
3,305 |
3,688 |
3,656 |
4,300 |
4,570 |
5,216 |
6,233 |
8,560 |
9,190 |
10,815 |
20,180 |
Total Preferred & Common Equity |
|
3,229 |
3,638 |
3,597 |
4,236 |
4,499 |
5,156 |
6,186 |
8,508 |
9,144 |
10,775 |
20,154 |
Total Common Equity |
|
3,229 |
3,638 |
3,597 |
4,236 |
4,499 |
5,156 |
6,186 |
8,508 |
9,144 |
10,775 |
20,154 |
Common Stock |
|
2,814 |
3,386 |
3,444 |
3,569 |
3,726 |
4,014 |
4,458 |
6,352 |
6,722 |
7,515 |
16,319 |
Retained Earnings |
|
676 |
775 |
916 |
1,222 |
1,559 |
1,901 |
2,372 |
2,882 |
3,562 |
4,053 |
4,986 |
Accumulated Other Comprehensive Income / (Loss) |
|
-261 |
-523 |
-764 |
-555 |
-786 |
-760 |
-644 |
-726 |
-1,140 |
-792 |
-1,151 |
Noncontrolling Interest |
|
76 |
50 |
59 |
64 |
71 |
60 |
47 |
52 |
47 |
40 |
26 |
Quarterly Balance Sheets for Arthur J. Gallagher & Co.
This table presents Arthur J. Gallagher & Co.'s assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Q2 2025 |
Total Assets |
|
38,358 |
45,094 |
54,365 |
53,204 |
51,616 |
60,976 |
63,008 |
57,243 |
64,255 |
74,096 |
80,123 |
Cash and Due from Banks |
|
738 |
1,550 |
952 |
1,028 |
972 |
1,763 |
1,415 |
2,022 |
14,987 |
16,692 |
14,300 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Premises and Equipment, Net |
|
576 |
581 |
641 |
649 |
726 |
705 |
655 |
660 |
650 |
647 |
691 |
Goodwill |
|
9,489 |
9,703 |
10,514 |
10,469 |
11,476 |
11,532 |
11,916 |
12,193 |
12,270 |
12,715 |
13,740 |
Intangible Assets |
|
3,372 |
3,404 |
3,720 |
3,585 |
4,633 |
4,622 |
4,389 |
4,353 |
4,530 |
4,532 |
5,132 |
Other Assets |
|
24,182 |
29,856 |
38,538 |
37,473 |
33,809 |
42,355 |
44,632 |
38,014 |
31,817 |
39,510 |
46,260 |
Total Liabilities & Shareholders' Equity |
|
38,358 |
45,094 |
54,365 |
53,204 |
51,616 |
60,976 |
63,008 |
57,243 |
64,255 |
74,096 |
80,123 |
Total Liabilities |
|
29,168 |
35,236 |
43,925 |
42,694 |
40,801 |
49,632 |
51,408 |
45,033 |
44,076 |
51,742 |
57,066 |
Short-Term Debt |
|
310 |
675 |
920 |
425 |
670 |
108 |
280 |
200 |
200 |
515 |
640 |
Accrued Interest Payable |
|
2,003 |
2,231 |
2,062 |
2,431 |
2,553 |
3,467 |
3,108 |
3,223 |
3,586 |
3,970 |
2,820 |
Other Short-Term Payables |
|
18,783 |
24,030 |
32,416 |
31,339 |
27,553 |
35,877 |
38,014 |
31,517 |
25,249 |
32,399 |
38,922 |
Long-Term Debt |
|
5,805 |
6,182 |
6,214 |
6,303 |
7,295 |
8,174 |
7,999 |
8,052 |
12,957 |
12,573 |
12,255 |
Other Long-Term Liabilities |
|
2,267 |
2,118 |
2,314 |
2,196 |
2,730 |
2,006 |
2,008 |
2,042 |
2,083 |
2,286 |
2,429 |
Total Equity & Noncontrolling Interests |
|
9,190 |
9,858 |
10,440 |
10,510 |
10,815 |
11,344 |
11,599 |
12,210 |
20,180 |
22,354 |
23,056 |
Total Preferred & Common Equity |
|
9,144 |
9,818 |
10,396 |
10,464 |
10,775 |
11,301 |
11,573 |
12,184 |
20,154 |
22,320 |
23,023 |
Total Common Equity |
|
9,144 |
9,818 |
10,396 |
10,464 |
10,775 |
11,301 |
11,573 |
12,184 |
20,154 |
22,320 |
23,023 |
Common Stock |
|
6,722 |
6,989 |
7,234 |
7,322 |
7,515 |
7,721 |
7,831 |
7,917 |
16,319 |
17,731 |
17,803 |
Retained Earnings |
|
3,562 |
3,930 |
4,045 |
4,206 |
4,053 |
4,529 |
4,681 |
4,861 |
4,986 |
5,523 |
5,721 |
Accumulated Other Comprehensive Income / (Loss) |
|
-1,140 |
-1,101 |
-883 |
-1,065 |
-792 |
-949 |
-939 |
-593 |
-1,151 |
-934 |
-500 |
Noncontrolling Interest |
|
47 |
41 |
44 |
47 |
40 |
43 |
27 |
26 |
26 |
34 |
33 |
Annual Metrics And Ratios for Arthur J. Gallagher & Co.
This table displays calculated financial ratios and metrics derived from Arthur J. Gallagher & Co.'s official financial filings.
Metric |
|
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
-61.43% |
32.50% |
240.08% |
12.40% |
13.43% |
1.17% |
-2.97% |
17.28% |
3.89% |
17.86% |
14.31% |
EBITDA Growth |
|
17.34% |
13.45% |
-10.70% |
34.14% |
20.65% |
22.10% |
30.19% |
7.77% |
24.95% |
-1.26% |
42.68% |
EBIT Growth |
|
0.17% |
0.69% |
-31.35% |
78.56% |
33.24% |
30.60% |
39.10% |
11.96% |
36.09% |
-10.69% |
58.20% |
NOPAT Growth |
|
15.07% |
18.81% |
10.59% |
20.13% |
30.76% |
5.90% |
19.88% |
11.29% |
16.86% |
-13.44% |
52.22% |
Net Income Growth |
|
15.07% |
18.81% |
10.59% |
20.13% |
30.76% |
5.90% |
19.88% |
11.29% |
16.86% |
-13.44% |
52.22% |
EPS Growth |
|
-4.37% |
4.57% |
7.77% |
18.92% |
28.79% |
3.53% |
19.32% |
4.05% |
18.76% |
-14.84% |
47.06% |
Operating Cash Flow Growth |
|
16.34% |
93.44% |
-41.91% |
31.50% |
-10.43% |
55.68% |
51.72% |
-22.95% |
-0.17% |
46.17% |
27.13% |
Free Cash Flow Firm Growth |
|
-113.02% |
86.57% |
83.54% |
-4,627.76% |
65.62% |
-85.85% |
0.10% |
-498.29% |
258.09% |
-117.31% |
-421.48% |
Invested Capital Growth |
|
46.10% |
8.38% |
5.33% |
30.72% |
12.09% |
16.17% |
14.79% |
54.56% |
-46.65% |
22.71% |
77.51% |
Revenue Q/Q Growth |
|
-49.65% |
125.21% |
244.52% |
-31.22% |
1.53% |
-1.07% |
-0.06% |
3.35% |
0.25% |
4.15% |
2.39% |
EBITDA Q/Q Growth |
|
-2.68% |
3.07% |
-16.95% |
-70.61% |
186.66% |
5.82% |
3.97% |
-2.18% |
2.62% |
-7.57% |
18.37% |
EBIT Q/Q Growth |
|
-11.07% |
-0.37% |
-36.33% |
-83.94% |
131.33% |
6.97% |
6.05% |
-5.16% |
3.22% |
-14.70% |
28.46% |
NOPAT Q/Q Growth |
|
-6.11% |
3.59% |
4.39% |
-1.49% |
7.87% |
-3.01% |
5.86% |
-3.26% |
1.33% |
-15.34% |
25.40% |
Net Income Q/Q Growth |
|
-6.11% |
3.59% |
4.39% |
-1.49% |
7.87% |
-3.01% |
5.86% |
-3.26% |
1.33% |
-15.34% |
25.40% |
EPS Q/Q Growth |
|
-5.29% |
1.98% |
2.78% |
-2.22% |
7.94% |
-3.03% |
5.26% |
-5.41% |
2.98% |
-15.16% |
24.28% |
Operating Cash Flow Q/Q Growth |
|
3.31% |
56.82% |
-37.05% |
0.16% |
-0.07% |
15.69% |
-0.14% |
-14.57% |
44.16% |
4.40% |
1.80% |
Free Cash Flow Firm Q/Q Growth |
|
28.52% |
-51,533.33% |
70.80% |
-205.83% |
67.06% |
-10.64% |
3.12% |
-141.61% |
246.32% |
-113.90% |
-537.97% |
Invested Capital Q/Q Growth |
|
-1.32% |
2.40% |
1.13% |
16.02% |
0.60% |
1.31% |
1.13% |
23.99% |
-55.18% |
8.95% |
62.92% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
47.50% |
40.67% |
10.68% |
12.75% |
13.56% |
16.36% |
21.95% |
20.17% |
24.26% |
20.32% |
25.37% |
EBIT Margin |
|
24.15% |
18.35% |
3.71% |
5.89% |
6.91% |
8.92% |
12.79% |
12.21% |
16.00% |
12.12% |
16.78% |
Profit (Net Income) Margin |
|
27.14% |
24.33% |
7.91% |
8.46% |
9.75% |
10.20% |
12.61% |
11.96% |
13.46% |
9.88% |
13.16% |
Tax Burden Percent |
|
112.35% |
132.57% |
128.99% |
143.66% |
140.99% |
114.33% |
98.53% |
97.94% |
84.10% |
81.51% |
78.43% |
Interest Burden Percent |
|
100.00% |
100.00% |
165.56% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
-12.35% |
-32.57% |
-28.99% |
-43.66% |
-40.99% |
-14.33% |
1.47% |
2.06% |
15.90% |
18.49% |
21.57% |
Return on Invested Capital (ROIC) |
|
4.67% |
4.49% |
4.65% |
4.72% |
5.13% |
4.76% |
4.94% |
4.04% |
5.07% |
5.67% |
5.64% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
4.67% |
4.49% |
4.65% |
4.72% |
5.13% |
4.76% |
4.94% |
4.04% |
5.07% |
5.67% |
5.64% |
Return on Net Nonoperating Assets (RNNOA) |
|
7.48% |
6.64% |
7.07% |
8.28% |
10.11% |
9.87% |
10.05% |
8.87% |
7.50% |
3.99% |
3.85% |
Return on Equity (ROE) |
|
12.15% |
11.13% |
11.72% |
12.99% |
15.24% |
14.63% |
14.99% |
12.91% |
12.57% |
9.66% |
9.49% |
Cash Return on Invested Capital (CROIC) |
|
-32.79% |
-3.56% |
-0.55% |
-21.91% |
-6.27% |
-10.20% |
-8.83% |
-38.82% |
65.92% |
-14.72% |
-50.22% |
Operating Return on Assets (OROA) |
|
3.46% |
2.81% |
1.80% |
2.73% |
3.07% |
3.48% |
4.15% |
3.50% |
3.70% |
2.63% |
3.24% |
Return on Assets (ROA) |
|
3.88% |
3.72% |
3.84% |
3.92% |
4.33% |
3.98% |
4.09% |
3.43% |
3.11% |
2.15% |
2.54% |
Return on Common Equity (ROCE) |
|
11.98% |
10.93% |
11.54% |
12.79% |
15.01% |
14.43% |
14.85% |
12.83% |
12.50% |
9.62% |
9.47% |
Return on Equity Simple (ROE_SIMPLE) |
|
10.14% |
10.69% |
11.96% |
12.20% |
15.02% |
13.88% |
13.87% |
11.22% |
12.21% |
8.96% |
7.30% |
Net Operating Profit after Tax (NOPAT) |
|
328 |
389 |
430 |
517 |
676 |
716 |
858 |
955 |
1,116 |
966 |
1,470 |
NOPAT Margin |
|
27.14% |
24.33% |
7.91% |
8.46% |
9.75% |
10.20% |
12.61% |
11.96% |
13.46% |
9.88% |
13.16% |
Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
|
-8.63% |
5.64% |
46.65% |
44.94% |
43.64% |
47.60% |
50.92% |
49.20% |
57.87% |
58.12% |
58.37% |
Operating Expenses to Revenue |
|
75.85% |
81.65% |
96.30% |
94.11% |
93.09% |
91.08% |
87.21% |
87.79% |
84.00% |
87.88% |
83.22% |
Earnings before Interest and Taxes (EBIT) |
|
292 |
294 |
202 |
360 |
479 |
626 |
871 |
975 |
1,327 |
1,185 |
1,875 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
573 |
650 |
581 |
779 |
940 |
1,148 |
1,494 |
1,610 |
2,012 |
1,987 |
2,835 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
1.95 |
1.70 |
2.28 |
2.46 |
2.80 |
3.27 |
3.71 |
4.04 |
4.27 |
4.39 |
2.99 |
Price to Tangible Book Value (P/TBV) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
17.95 |
Price to Revenue (P/Rev) |
|
5.22 |
3.88 |
1.51 |
1.70 |
1.82 |
2.40 |
3.37 |
4.31 |
4.70 |
4.84 |
5.39 |
Price to Earnings (P/E) |
|
20.77 |
17.38 |
20.63 |
21.61 |
19.88 |
25.20 |
28.04 |
37.94 |
35.00 |
48.76 |
41.16 |
Dividend Yield |
|
3.69% |
4.22% |
3.30% |
2.71% |
2.39% |
1.90% |
1.51% |
1.16% |
1.10% |
0.99% |
0.85% |
Earnings Yield |
|
4.81% |
5.75% |
4.85% |
4.63% |
5.03% |
3.97% |
3.57% |
2.64% |
2.86% |
2.05% |
2.43% |
Enterprise Value to Invested Capital (EV/IC) |
|
1.17 |
1.07 |
1.28 |
1.31 |
1.42 |
1.56 |
1.71 |
1.75 |
2.90 |
2.89 |
1.75 |
Enterprise Value to Revenue (EV/Rev) |
|
8.05 |
6.06 |
2.23 |
2.66 |
2.85 |
3.60 |
4.67 |
6.28 |
5.36 |
5.56 |
5.23 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
16.94 |
14.90 |
20.92 |
20.89 |
21.04 |
22.00 |
21.26 |
31.12 |
22.08 |
27.34 |
20.60 |
Enterprise Value to EBIT (EV/EBIT) |
|
33.32 |
33.01 |
60.31 |
45.24 |
41.25 |
40.32 |
36.47 |
51.39 |
33.47 |
45.83 |
31.15 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
29.65 |
24.90 |
28.24 |
31.49 |
29.26 |
35.27 |
37.01 |
52.48 |
39.80 |
56.22 |
39.72 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
16.80 |
8.66 |
18.71 |
19.06 |
25.85 |
21.19 |
17.58 |
35.99 |
31.96 |
26.73 |
22.61 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
3.06 |
0.00 |
0.00 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
1.52 |
1.45 |
1.60 |
1.89 |
2.05 |
2.10 |
1.98 |
2.35 |
0.67 |
0.74 |
0.65 |
Long-Term Debt to Equity |
|
0.68 |
0.60 |
0.62 |
0.66 |
0.71 |
0.76 |
0.72 |
0.71 |
0.63 |
0.67 |
0.64 |
Financial Leverage |
|
1.60 |
1.48 |
1.52 |
1.76 |
1.97 |
2.08 |
2.03 |
2.19 |
1.48 |
0.70 |
0.68 |
Leverage Ratio |
|
3.13 |
2.99 |
3.05 |
3.32 |
3.52 |
3.68 |
3.67 |
3.76 |
4.04 |
4.50 |
3.74 |
Compound Leverage Factor |
|
3.13 |
2.99 |
5.05 |
3.32 |
3.52 |
3.68 |
3.67 |
3.76 |
4.04 |
4.50 |
3.74 |
Debt to Total Capital |
|
60.28% |
59.11% |
61.52% |
65.38% |
67.17% |
67.75% |
66.42% |
70.16% |
39.95% |
42.41% |
39.47% |
Short-Term Debt to Total Capital |
|
33.21% |
34.62% |
37.62% |
42.48% |
43.86% |
43.09% |
42.34% |
49.11% |
2.03% |
3.57% |
0.60% |
Long-Term Debt to Total Capital |
|
27.07% |
24.49% |
23.90% |
22.89% |
23.31% |
24.65% |
24.08% |
21.05% |
37.93% |
38.84% |
38.87% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.91% |
0.55% |
0.62% |
0.52% |
0.51% |
0.37% |
0.25% |
0.18% |
0.30% |
0.21% |
0.08% |
Common Equity to Total Capital |
|
38.81% |
40.34% |
37.86% |
34.11% |
32.32% |
31.88% |
33.33% |
29.66% |
59.74% |
57.38% |
60.45% |
Debt to EBITDA |
|
8.75 |
8.20 |
10.06 |
10.42 |
9.95 |
9.55 |
8.25 |
12.50 |
3.04 |
4.01 |
4.64 |
Net Debt to EBITDA |
|
5.82 |
5.29 |
6.73 |
7.46 |
7.57 |
7.26 |
5.86 |
9.73 |
2.67 |
3.52 |
-0.65 |
Long-Term Debt to EBITDA |
|
3.93 |
3.40 |
3.91 |
3.65 |
3.45 |
3.47 |
2.99 |
3.75 |
2.89 |
3.67 |
4.57 |
Debt to NOPAT |
|
15.32 |
13.70 |
13.58 |
15.71 |
13.83 |
15.30 |
14.37 |
21.08 |
5.48 |
8.25 |
8.95 |
Net Debt to NOPAT |
|
10.18 |
8.84 |
9.08 |
11.25 |
10.52 |
11.64 |
10.20 |
16.40 |
4.82 |
7.24 |
-1.24 |
Long-Term Debt to NOPAT |
|
6.88 |
5.68 |
5.28 |
5.50 |
4.80 |
5.57 |
5.21 |
6.32 |
5.20 |
7.55 |
8.81 |
Noncontrolling Interest Sharing Ratio |
|
1.40% |
1.80% |
1.49% |
1.55% |
1.52% |
1.34% |
0.93% |
0.66% |
0.55% |
0.43% |
0.21% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
-2,298 |
-309 |
-51 |
-2,402 |
-826 |
-1,535 |
-1,533 |
-9,172 |
14,500 |
-2,509 |
-13,086 |
Operating Cash Flow to CapEx |
|
709.33% |
1,129.60% |
298.26% |
661.15% |
615.03% |
858.14% |
1,819.84% |
1,082.74% |
760.81% |
1,049.43% |
1,820.23% |
Free Cash Flow to Firm to Interest Expense |
|
-25.82 |
-3.00 |
-0.46 |
0.00 |
0.00 |
-8.54 |
-7.81 |
-40.57 |
56.44 |
-8.46 |
-34.32 |
Operating Cash Flow to Interest Expense |
|
6.50 |
10.86 |
5.92 |
0.00 |
0.00 |
6.62 |
9.20 |
6.16 |
5.41 |
6.85 |
6.77 |
Operating Cash Flow Less CapEx to Interest Expense |
|
5.58 |
9.90 |
3.93 |
0.00 |
0.00 |
5.85 |
8.70 |
5.59 |
4.70 |
6.20 |
6.40 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.14 |
0.15 |
0.49 |
0.46 |
0.44 |
0.39 |
0.32 |
0.29 |
0.23 |
0.22 |
0.19 |
Fixed Asset Turnover |
|
6.78 |
7.20 |
17.36 |
15.48 |
16.33 |
15.52 |
14.83 |
16.78 |
15.40 |
15.01 |
16.23 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
8,321 |
9,019 |
9,500 |
12,419 |
13,920 |
16,171 |
18,562 |
28,689 |
15,305 |
18,780 |
33,337 |
Invested Capital Turnover |
|
0.17 |
0.18 |
0.59 |
0.56 |
0.53 |
0.47 |
0.39 |
0.34 |
0.38 |
0.57 |
0.43 |
Increase / (Decrease) in Invested Capital |
|
2,626 |
698 |
481 |
2,919 |
1,502 |
2,250 |
2,391 |
10,127 |
-13,384 |
3,475 |
14,556 |
Enterprise Value (EV) |
|
9,712 |
9,689 |
12,152 |
16,279 |
19,776 |
25,245 |
31,761 |
50,115 |
44,420 |
54,309 |
58,399 |
Market Capitalization |
|
6,302 |
6,201 |
8,186 |
10,401 |
12,592 |
16,854 |
22,960 |
34,400 |
38,997 |
47,276 |
60,203 |
Book Value per Share |
|
$20.01 |
$20.59 |
$20.21 |
$23.43 |
$24.50 |
$27.64 |
$32.17 |
$41.05 |
$43.37 |
$49.91 |
$91.86 |
Tangible Book Value per Share |
|
($12.37) |
($9.75) |
($10.11) |
($8.70) |
($10.34) |
($14.91) |
($12.17) |
($19.84) |
($17.63) |
($24.70) |
$15.28 |
Total Capital |
|
8,321 |
9,019 |
9,500 |
12,419 |
13,920 |
16,171 |
18,562 |
28,689 |
15,305 |
18,780 |
33,337 |
Total Debt |
|
5,016 |
5,331 |
5,844 |
8,119 |
9,351 |
10,955 |
12,329 |
20,129 |
6,115 |
7,965 |
13,157 |
Total Long-Term Debt |
|
2,253 |
2,209 |
2,270 |
2,843 |
3,245 |
3,987 |
4,470 |
6,039 |
5,805 |
7,295 |
12,957 |
Net Debt |
|
3,334 |
3,438 |
3,907 |
5,814 |
7,114 |
8,331 |
8,755 |
15,663 |
5,376 |
6,994 |
-1,830 |
Capital Expenditures (CapEx) |
|
82 |
99 |
218 |
129 |
124 |
139 |
99 |
129 |
183 |
194 |
142 |
Net Nonoperating Expense (NNE) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
|
5,016 |
5,331 |
5,844 |
8,119 |
9,351 |
10,955 |
12,329 |
20,129 |
6,115 |
7,965 |
13,157 |
Total Depreciation and Amortization (D&A) |
|
282 |
357 |
379 |
419 |
461 |
522 |
623 |
635 |
685 |
802 |
960 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$1.98 |
$2.07 |
$2.33 |
$2.57 |
$3.47 |
$3.60 |
$4.29 |
$4.47 |
$5.30 |
$4.51 |
$6.63 |
Adjusted Weighted Average Basic Shares Outstanding |
|
164.74M |
177.03M |
178.62M |
181.43M |
184.06M |
188.25M |
193.74M |
208.54M |
212.09M |
216.80M |
254.70M |
Adjusted Diluted Earnings per Share |
|
$1.97 |
$2.06 |
$2.32 |
$2.54 |
$3.40 |
$3.52 |
$4.20 |
$4.37 |
$5.19 |
$4.42 |
$6.50 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
164.74M |
177.03M |
178.62M |
181.43M |
184.06M |
188.25M |
193.74M |
208.54M |
212.09M |
216.80M |
254.70M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
164.74M |
177.03M |
178.62M |
181.43M |
184.06M |
188.25M |
193.74M |
208.54M |
212.09M |
216.80M |
254.70M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
216 |
234 |
256 |
273 |
342 |
449 |
826 |
1,088 |
1,186 |
1,274 |
1,491 |
Normalized NOPAT Margin |
|
17.92% |
14.62% |
4.71% |
4.47% |
4.94% |
6.40% |
12.13% |
13.63% |
14.30% |
13.03% |
13.34% |
Pre Tax Income Margin |
|
24.15% |
18.35% |
6.13% |
5.89% |
6.91% |
8.92% |
12.79% |
12.21% |
16.00% |
12.12% |
16.78% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
3.28 |
2.85 |
1.84 |
0.00 |
0.00 |
3.48 |
4.43 |
4.31 |
5.17 |
3.99 |
4.92 |
NOPAT to Interest Expense |
|
3.68 |
3.78 |
3.92 |
0.00 |
0.00 |
3.98 |
4.37 |
4.22 |
4.34 |
3.26 |
3.86 |
EBIT Less CapEx to Interest Expense |
|
2.36 |
1.89 |
-0.15 |
0.00 |
0.00 |
2.71 |
3.93 |
3.74 |
4.45 |
3.34 |
4.54 |
NOPAT Less CapEx to Interest Expense |
|
2.76 |
2.82 |
1.94 |
0.00 |
0.00 |
3.21 |
3.86 |
3.66 |
3.63 |
2.60 |
3.48 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
68.12% |
66.18% |
63.26% |
54.69% |
52.67% |
44.86% |
40.48% |
41.05% |
38.49% |
49.03% |
35.73% |
Augmented Payout Ratio |
|
68.12% |
66.18% |
86.73% |
58.12% |
54.34% |
44.86% |
40.48% |
41.05% |
38.49% |
49.03% |
35.73% |
Quarterly Metrics And Ratios for Arthur J. Gallagher & Co.
This table displays calculated financial ratios and metrics derived from Arthur J. Gallagher & Co.'s official financial filings.
Metric |
|
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Q2 2025 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
1.07% |
11.25% |
19.50% |
22.21% |
19.82% |
19.95% |
13.41% |
12.18% |
11.06% |
12.78% |
14.21% |
EBITDA Growth |
|
20.80% |
10.13% |
-3.22% |
16.87% |
-54.47% |
27.85% |
21.94% |
14.01% |
323.77% |
14.56% |
20.82% |
EBIT Growth |
|
51.36% |
12.67% |
-15.58% |
15.59% |
-167.38% |
27.55% |
22.93% |
10.77% |
505.35% |
12.94% |
28.94% |
NOPAT Growth |
|
12.08% |
10.82% |
-17.29% |
10.50% |
-142.46% |
25.91% |
21.03% |
10.91% |
548.73% |
15.70% |
28.31% |
Net Income Growth |
|
12.08% |
10.82% |
-17.29% |
10.50% |
-129.23% |
25.91% |
21.03% |
10.91% |
752.02% |
15.70% |
28.31% |
EPS Growth |
|
31.91% |
9.27% |
-19.55% |
7.56% |
-127.42% |
22.32% |
18.69% |
8.59% |
747.06% |
-0.73% |
10.24% |
Operating Cash Flow Growth |
|
233.83% |
97.83% |
116.27% |
39.82% |
14.10% |
84.20% |
863.71% |
4.19% |
6.59% |
10.45% |
-456.57% |
Free Cash Flow Firm Growth |
|
235.11% |
226.99% |
263.03% |
259.88% |
-126.13% |
-110.37% |
-111.00% |
-116.92% |
-304.71% |
-557.24% |
-678.16% |
Invested Capital Growth |
|
-46.65% |
-56.47% |
-50.76% |
-49.52% |
22.71% |
17.42% |
13.11% |
18.70% |
77.51% |
80.58% |
80.86% |
Revenue Q/Q Growth |
|
-0.77% |
34.31% |
-10.39% |
2.33% |
-2.71% |
34.45% |
-15.28% |
1.22% |
-3.68% |
36.53% |
-14.20% |
EBITDA Q/Q Growth |
|
-38.15% |
164.02% |
-36.72% |
13.09% |
-75.90% |
641.43% |
-39.65% |
5.74% |
-10.44% |
100.43% |
-36.35% |
EBIT Q/Q Growth |
|
-61.27% |
396.56% |
-50.91% |
22.43% |
-122.58% |
1,040.02% |
-52.69% |
10.31% |
-17.38% |
161.91% |
-45.98% |
NOPAT Q/Q Growth |
|
-47.13% |
259.11% |
-51.54% |
20.10% |
-120.32% |
1,164.82% |
-53.42% |
10.06% |
-17.80% |
174.55% |
-48.34% |
Net Income Q/Q Growth |
|
-47.13% |
259.11% |
-51.54% |
20.10% |
-113.98% |
1,647.22% |
-53.42% |
10.06% |
-17.80% |
174.55% |
-48.34% |
EPS Q/Q Growth |
|
-47.90% |
261.29% |
-52.23% |
19.63% |
-113.28% |
1,711.76% |
-53.65% |
9.45% |
-20.86% |
147.27% |
-48.53% |
Operating Cash Flow Q/Q Growth |
|
-5.27% |
-29.51% |
-97.11% |
7,135.48% |
-22.69% |
13.80% |
-84.86% |
682.26% |
-20.91% |
17.92% |
-148.88% |
Free Cash Flow Firm Q/Q Growth |
|
225.70% |
64.01% |
-17.23% |
-6.31% |
-120.55% |
34.94% |
12.18% |
-44.15% |
-391.40% |
-5.65% |
-3.98% |
Invested Capital Q/Q Growth |
|
-55.18% |
9.21% |
5.14% |
-1.91% |
8.95% |
4.50% |
1.28% |
2.93% |
62.92% |
6.31% |
1.44% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
15.20% |
29.87% |
21.09% |
23.31% |
5.77% |
31.84% |
22.68% |
23.69% |
22.03% |
32.34% |
23.99% |
EBIT Margin |
|
6.21% |
22.96% |
12.58% |
15.05% |
-3.49% |
24.42% |
13.64% |
14.86% |
12.75% |
24.45% |
15.39% |
Profit (Net Income) Margin |
|
6.90% |
18.44% |
9.97% |
11.71% |
-1.68% |
19.36% |
10.64% |
11.57% |
9.88% |
19.86% |
11.96% |
Tax Burden Percent |
|
111.07% |
80.32% |
79.29% |
77.78% |
48.18% |
79.29% |
78.06% |
77.88% |
77.49% |
81.23% |
77.68% |
Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
-11.07% |
19.68% |
20.71% |
22.22% |
0.00% |
20.71% |
21.94% |
22.12% |
22.51% |
18.77% |
22.32% |
Return on Invested Capital (ROIC) |
|
2.60% |
5.73% |
3.35% |
4.28% |
-1.40% |
10.98% |
6.04% |
6.70% |
4.24% |
8.35% |
5.12% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
2.60% |
5.73% |
3.35% |
4.28% |
-1.15% |
10.98% |
6.04% |
6.70% |
4.24% |
8.35% |
5.12% |
Return on Net Nonoperating Assets (RNNOA) |
|
3.85% |
10.98% |
5.90% |
7.21% |
-0.81% |
7.84% |
4.22% |
4.42% |
2.89% |
5.30% |
3.13% |
Return on Equity (ROE) |
|
6.45% |
16.71% |
9.25% |
11.48% |
-2.21% |
18.81% |
10.26% |
11.12% |
7.12% |
13.65% |
8.25% |
Cash Return on Invested Capital (CROIC) |
|
65.92% |
82.92% |
72.21% |
70.26% |
-14.72% |
-10.01% |
-6.21% |
-10.88% |
-50.22% |
-51.75% |
-51.68% |
Operating Return on Assets (OROA) |
|
1.44% |
4.45% |
2.39% |
3.08% |
-0.76% |
4.74% |
2.47% |
2.94% |
2.46% |
4.19% |
2.57% |
Return on Assets (ROA) |
|
1.60% |
3.58% |
1.89% |
2.39% |
-0.37% |
3.76% |
1.93% |
2.29% |
1.90% |
3.41% |
2.00% |
Return on Common Equity (ROCE) |
|
6.41% |
16.62% |
9.20% |
11.42% |
-2.20% |
18.74% |
10.22% |
11.08% |
7.11% |
13.62% |
8.24% |
Return on Equity Simple (ROE_SIMPLE) |
|
0.00% |
11.85% |
10.72% |
10.91% |
0.00% |
9.66% |
9.87% |
9.62% |
0.00% |
7.02% |
7.16% |
Net Operating Profit after Tax (NOPAT) |
|
136 |
487 |
236 |
283 |
-58 |
613 |
285 |
314 |
258 |
709 |
366 |
NOPAT Margin |
|
6.90% |
18.44% |
9.97% |
11.71% |
-2.44% |
19.36% |
10.64% |
11.57% |
9.88% |
19.86% |
11.96% |
Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.00% |
0.00% |
0.00% |
-0.25% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
|
59.81% |
53.65% |
59.77% |
58.88% |
60.68% |
54.54% |
60.43% |
59.76% |
59.46% |
53.17% |
58.89% |
Operating Expenses to Revenue |
|
93.79% |
77.04% |
87.42% |
84.95% |
103.49% |
75.58% |
86.36% |
85.14% |
87.25% |
75.55% |
84.61% |
Earnings before Interest and Taxes (EBIT) |
|
122 |
606 |
297 |
364 |
-82 |
773 |
366 |
403 |
333 |
873 |
471 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
299 |
788 |
499 |
564 |
136 |
1,008 |
608 |
643 |
576 |
1,154 |
735 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
4.27 |
4.09 |
4.44 |
4.58 |
4.39 |
4.69 |
4.75 |
4.90 |
2.99 |
3.28 |
2.95 |
Price to Tangible Book Value (P/TBV) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
17.95 |
14.43 |
16.36 |
Price to Revenue (P/Rev) |
|
4.70 |
4.69 |
5.16 |
5.10 |
4.84 |
5.15 |
5.18 |
5.47 |
5.39 |
6.32 |
5.68 |
Price to Earnings (P/E) |
|
35.00 |
34.58 |
41.47 |
42.12 |
48.76 |
48.59 |
48.23 |
50.91 |
41.16 |
46.98 |
41.37 |
Dividend Yield |
|
1.10% |
1.10% |
0.97% |
0.96% |
0.99% |
0.90% |
0.89% |
0.84% |
0.85% |
0.71% |
0.78% |
Earnings Yield |
|
2.86% |
2.89% |
2.41% |
2.37% |
2.05% |
2.06% |
2.07% |
1.96% |
2.43% |
2.13% |
2.42% |
Enterprise Value to Invested Capital (EV/IC) |
|
2.90 |
2.72 |
2.98 |
3.11 |
2.89 |
3.04 |
3.11 |
3.22 |
1.75 |
1.97 |
1.85 |
Enterprise Value to Revenue (EV/Rev) |
|
5.36 |
5.32 |
5.85 |
5.72 |
5.56 |
5.79 |
5.83 |
6.04 |
5.23 |
6.02 |
5.56 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
22.08 |
21.84 |
25.32 |
24.96 |
27.34 |
27.01 |
26.73 |
27.53 |
20.60 |
23.36 |
21.40 |
Enterprise Value to EBIT (EV/EBIT) |
|
33.47 |
32.63 |
39.07 |
38.62 |
45.83 |
44.08 |
43.58 |
45.18 |
31.15 |
35.27 |
31.97 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
39.80 |
39.13 |
46.99 |
47.02 |
56.22 |
54.57 |
54.21 |
56.23 |
39.72 |
44.46 |
40.38 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
31.96 |
28.42 |
30.97 |
27.57 |
26.73 |
24.91 |
24.76 |
25.99 |
22.61 |
26.13 |
31.38 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
3.06 |
1.99 |
2.72 |
2.97 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.67 |
0.70 |
0.68 |
0.64 |
0.74 |
0.73 |
0.71 |
0.68 |
0.65 |
0.59 |
0.56 |
Long-Term Debt to Equity |
|
0.63 |
0.63 |
0.60 |
0.60 |
0.67 |
0.72 |
0.69 |
0.66 |
0.64 |
0.56 |
0.53 |
Financial Leverage |
|
1.48 |
1.92 |
1.76 |
1.69 |
0.70 |
0.71 |
0.70 |
0.66 |
0.68 |
0.63 |
0.61 |
Leverage Ratio |
|
4.04 |
4.67 |
4.89 |
4.80 |
4.50 |
5.00 |
5.33 |
4.86 |
3.74 |
4.01 |
4.13 |
Compound Leverage Factor |
|
4.04 |
4.67 |
4.89 |
4.80 |
4.50 |
5.00 |
5.33 |
4.86 |
3.74 |
4.01 |
4.13 |
Debt to Total Capital |
|
39.95% |
41.02% |
40.59% |
39.03% |
42.41% |
42.20% |
41.65% |
40.33% |
39.47% |
36.93% |
35.87% |
Short-Term Debt to Total Capital |
|
2.03% |
4.04% |
5.24% |
2.47% |
3.57% |
0.55% |
1.41% |
0.98% |
0.60% |
1.45% |
1.78% |
Long-Term Debt to Total Capital |
|
37.93% |
36.98% |
35.36% |
36.56% |
38.84% |
41.65% |
40.24% |
39.35% |
38.87% |
35.47% |
34.09% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.30% |
0.24% |
0.25% |
0.27% |
0.21% |
0.22% |
0.13% |
0.13% |
0.08% |
0.09% |
0.09% |
Common Equity to Total Capital |
|
59.74% |
58.74% |
59.15% |
60.70% |
57.38% |
57.58% |
58.22% |
59.55% |
60.45% |
62.98% |
64.04% |
Debt to EBITDA |
|
3.04 |
3.29 |
3.45 |
3.13 |
4.01 |
3.75 |
3.58 |
3.45 |
4.64 |
4.39 |
4.15 |
Net Debt to EBITDA |
|
2.67 |
2.55 |
2.99 |
2.65 |
3.52 |
2.96 |
2.96 |
2.60 |
-0.65 |
-1.21 |
-0.45 |
Long-Term Debt to EBITDA |
|
2.89 |
2.97 |
3.01 |
2.93 |
3.67 |
3.71 |
3.45 |
3.36 |
4.57 |
4.22 |
3.94 |
Debt to NOPAT |
|
5.48 |
5.89 |
6.40 |
5.90 |
8.25 |
7.58 |
7.25 |
7.04 |
8.95 |
8.35 |
7.83 |
Net Debt to NOPAT |
|
4.82 |
4.56 |
5.55 |
5.00 |
7.24 |
5.97 |
6.01 |
5.31 |
-1.24 |
-2.30 |
-0.85 |
Long-Term Debt to NOPAT |
|
5.20 |
5.31 |
5.58 |
5.52 |
7.55 |
7.48 |
7.01 |
6.87 |
8.81 |
8.03 |
7.44 |
Noncontrolling Interest Sharing Ratio |
|
0.55% |
0.50% |
0.50% |
0.53% |
0.43% |
0.40% |
0.32% |
0.32% |
0.21% |
0.23% |
0.17% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
13,520 |
22,174 |
18,353 |
17,196 |
-3,533 |
-2,298 |
-2,019 |
-2,910 |
-14,298 |
-15,106 |
-15,707 |
Operating Cash Flow to CapEx |
|
1,433.73% |
1,442.76% |
20.98% |
1,525.85% |
1,507.83% |
2,657.58% |
375.79% |
2,540.22% |
1,695.64% |
3,091.49% |
-1,081.47% |
Free Cash Flow to Firm to Interest Expense |
|
211.25 |
326.57 |
235.90 |
236.20 |
-45.18 |
-24.93 |
-21.41 |
-31.32 |
-140.32 |
-95.37 |
-99.04 |
Operating Cash Flow to Interest Expense |
|
9.50 |
6.31 |
0.16 |
12.32 |
8.87 |
8.56 |
1.27 |
10.06 |
7.26 |
5.50 |
-2.69 |
Operating Cash Flow Less CapEx to Interest Expense |
|
8.84 |
5.87 |
-0.60 |
11.52 |
8.28 |
8.24 |
0.93 |
9.67 |
6.83 |
5.33 |
-2.94 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.23 |
0.19 |
0.19 |
0.20 |
0.22 |
0.19 |
0.18 |
0.20 |
0.19 |
0.17 |
0.17 |
Fixed Asset Turnover |
|
15.40 |
15.76 |
14.79 |
15.50 |
15.01 |
16.02 |
16.39 |
16.67 |
16.23 |
17.13 |
17.77 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
15,305 |
16,715 |
17,574 |
17,238 |
18,780 |
19,626 |
19,878 |
20,461 |
33,337 |
35,441 |
35,951 |
Invested Capital Turnover |
|
0.38 |
0.31 |
0.34 |
0.37 |
0.57 |
0.57 |
0.57 |
0.58 |
0.43 |
0.42 |
0.43 |
Increase / (Decrease) in Invested Capital |
|
-13,384 |
-21,688 |
-18,118 |
-16,913 |
3,475 |
2,911 |
2,304 |
3,224 |
14,556 |
15,815 |
16,073 |
Enterprise Value (EV) |
|
44,420 |
45,526 |
52,357 |
53,651 |
54,309 |
59,595 |
61,888 |
65,932 |
58,399 |
69,653 |
66,524 |
Market Capitalization |
|
38,997 |
40,179 |
46,131 |
47,904 |
47,276 |
53,032 |
54,998 |
59,677 |
60,203 |
73,223 |
67,896 |
Book Value per Share |
|
$43.37 |
$46.29 |
$48.52 |
$48.55 |
$49.91 |
$51.72 |
$52.96 |
$55.61 |
$91.86 |
$87.63 |
$89.90 |
Tangible Book Value per Share |
|
($17.63) |
($15.51) |
($17.92) |
($16.66) |
($24.70) |
($22.21) |
($21.66) |
($19.91) |
$15.28 |
$19.92 |
$16.21 |
Total Capital |
|
15,305 |
16,715 |
17,574 |
17,238 |
18,780 |
19,626 |
19,878 |
20,461 |
33,337 |
35,441 |
35,951 |
Total Debt |
|
6,115 |
6,857 |
7,134 |
6,728 |
7,965 |
8,282 |
8,279 |
8,252 |
13,157 |
13,088 |
12,895 |
Total Long-Term Debt |
|
5,805 |
6,182 |
6,214 |
6,303 |
7,295 |
8,174 |
7,999 |
8,052 |
12,957 |
12,573 |
12,255 |
Net Debt |
|
5,376 |
5,307 |
6,182 |
5,700 |
6,994 |
6,520 |
6,863 |
6,229 |
-1,830 |
-3,604 |
-1,404 |
Capital Expenditures (CapEx) |
|
42 |
30 |
59 |
59 |
46 |
30 |
32 |
37 |
44 |
28 |
39 |
Net Nonoperating Expense (NNE) |
|
0.00 |
0.00 |
0.00 |
0.00 |
-18 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
|
6,115 |
6,857 |
7,134 |
6,728 |
7,965 |
8,282 |
8,279 |
8,252 |
13,157 |
13,088 |
12,895 |
Total Depreciation and Amortization (D&A) |
|
177 |
182 |
201 |
200 |
218 |
235 |
243 |
240 |
243 |
282 |
263 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$0.64 |
$2.29 |
$1.09 |
$1.30 |
($0.17) |
$2.80 |
$1.30 |
$1.43 |
$1.10 |
$2.76 |
$1.43 |
Adjusted Weighted Average Basic Shares Outstanding |
|
212.09M |
214.25M |
215.51M |
215.90M |
216.80M |
218.50M |
219.10M |
219.40M |
254.70M |
256.10M |
256.40M |
Adjusted Diluted Earnings per Share |
|
$0.62 |
$2.24 |
$1.07 |
$1.28 |
($0.17) |
$2.74 |
$1.27 |
$1.39 |
$1.10 |
$2.72 |
$1.40 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
212.09M |
214.25M |
215.51M |
215.90M |
216.80M |
218.50M |
219.10M |
219.40M |
254.70M |
256.10M |
256.40M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
212.09M |
214.25M |
215.51M |
215.90M |
216.80M |
218.50M |
219.10M |
219.40M |
254.70M |
256.10M |
256.40M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
164 |
520 |
243 |
281 |
172 |
600 |
300 |
302 |
288 |
722 |
362 |
Normalized NOPAT Margin |
|
8.34% |
19.72% |
10.29% |
11.63% |
7.33% |
18.96% |
11.19% |
11.13% |
11.02% |
20.22% |
11.82% |
Pre Tax Income Margin |
|
6.21% |
22.96% |
12.58% |
15.05% |
-3.49% |
24.42% |
13.64% |
14.86% |
12.75% |
24.45% |
15.39% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
1.91 |
8.92 |
3.82 |
5.00 |
-1.05 |
8.38 |
3.88 |
4.34 |
3.27 |
5.51 |
2.97 |
NOPAT to Interest Expense |
|
2.12 |
7.17 |
3.03 |
3.89 |
-0.74 |
6.65 |
3.03 |
3.38 |
2.53 |
4.48 |
2.31 |
EBIT Less CapEx to Interest Expense |
|
1.24 |
8.48 |
3.06 |
4.19 |
-1.64 |
8.06 |
3.54 |
3.95 |
2.84 |
5.33 |
2.72 |
NOPAT Less CapEx to Interest Expense |
|
1.45 |
6.73 |
2.27 |
3.08 |
-1.32 |
6.32 |
2.69 |
2.98 |
2.11 |
4.30 |
2.06 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
38.49% |
37.83% |
40.51% |
40.53% |
49.03% |
44.58% |
43.77% |
43.72% |
35.73% |
35.79% |
36.18% |
Augmented Payout Ratio |
|
38.49% |
37.83% |
40.51% |
40.53% |
49.03% |
44.58% |
43.77% |
43.72% |
35.73% |
35.79% |
36.18% |
Key Financial Trends
Arthur J. Gallagher & Co. (NYSE: AJG) Financial Analysis Overview (Last Four Years)
Reviewing Arthur J. Gallagher & Co.'s financials over the past four years reveals several key trends and insights across income, balance sheet, and cash flow statements. The company has displayed consistent revenue growth, stable profitability, strategic acquisitions, and evolving capital structure, though recent quarters show some operational cash flow challenges.
- Revenue Growth: Total revenue has steadily increased from approximately $1.96 billion in Q4 2022 to over $3.06 billion in Q2 2025, driven mainly by growth in premiums earned and non-interest income.
- Profitability Improvement: Net income recovered from a loss in Q4 2023 (-$39.6 million) to positive and growing net income with $366.2 million in Q2 2025, reflecting operational improvements and cost management.
- Salaries and Operating Expenses Control: Although total non-interest expenses increased in absolute terms, the company managed expenses well relative to revenue growth, supporting profitability gains.
- Strong Equity Base: Total common equity rose from about $9.14 billion at end of 2022 to $23.02 billion by Q2 2025, indicating enhanced shareholder value and capital strength.
- Significant Acquisitions: The company made substantial acquisitions, notably $1.33 billion in Q2 2025, demonstrating growth via strategic expansion.
- Increasing Long-Term Debt: Long-term debt rose over the past four years from $5.8 billion to approximately $12.25 billion by Q2 2025, reflecting financing activities for acquisitions and other investments.
- Dividend Stability: Cash dividends per common share consistently increased from $0.51 in late 2022 to $0.65 in mid-2025, supporting steady return to shareholders.
- Operating Cash Flow Fluctuations: Net cash from continuing operating activities dropped significantly to negative $426 million in Q2 2025 from a positive $872 million in Q1 2025, impacted by changes in operating assets and liabilities.
- Negative Net Change in Cash: Q2 2025 saw a substantial net decrease in cash of $1.43 billion, highlighting cash management pressures, mainly due to investing activities.
- High Investing Cash Outflows: Large cash outflows for acquisitions ($1.33 billion) and property purchase ($39.4 million) in Q2 2025, which although potentially value-adding, weigh on liquidity.
Summary: Arthur J. Gallagher & Co. has shown robust revenue and earnings growth driven by strategic acquisitions and effective expense management. The company's equity base has strengthened significantly over four years. However, recent quarters reflect challenges in operating cash flow and increased debt load. Investors should watch upcoming quarters for stabilization in cash flow and the integration success of acquired businesses.
Overall, AJG appears positioned for growth with strong profitability and capital resources, though with near-term liquidity considerations given sizable acquisition investments.
08/24/25 12:58 AMAI Generated. May Contain Errors.