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) has experienced notable financial performance and changes over the past four years through Q2 2025. Here's a summary of key trends and developments based on the income statements, balance sheets, and cash flow statements from 2022 to mid-2025:
- Consistent Net Income Growth: The company’s consolidated net income has generally increased from $135.5 million in Q4 2022 to $366.2 million in Q2 2025, showing solid earnings growth over this period.
- Increasing Total Assets and Equity: Total assets rose from about $38.36 billion at the end of 2022 to $80.12 billion by Q2 2025, doubling the asset base and reflecting expansion and acquisitions. Total equity increased from roughly $9.19 billion to over $23 billion.
- Robust Goodwill and Intangible Asset Growth: Goodwill increased markedly due to acquisitions, from about $9.49 billion to $13.74 billion and intangible assets from $3.37 billion to $5.13 billion, suggesting growth via strategic acquisitions.
- Increased Dividend Payouts: Dividend per share has risen steadily from $0.51 in 2022 to $0.65 in Q2 2025, indicating management’s commitment to returning value to shareholders.
- Substantial Acquisition Activity: The company consistently invested substantial cash in acquisitions each quarter, with Q2 2025 acquisitions alone reaching nearly $1.33 billion, fueling long-term growth.
- Stable Interest Expense and Debt Levels: Interest expenses on long-term debt have increased moderately, consistent with rising debt, but debt remains manageable relative to assets. Long-term debt rose from about $5.8 billion in late 2022 to roughly $12.25 billion in Q2 2025.
- Operating Cash Flow Fluctuations: Operating cash flow was strong in early 2024 but became negative in Q2 2025 (-$426 million), mainly due to working capital changes and large acquisitions, indicating short-term liquidity pressure from investment activities.
- Significant Increase in Other Assets: Other assets increased from approximately $24 billion at end of 2022 to more than $46 billion by Q2 2025, affecting asset structure and possibly reflecting strategic initiatives or deferred items.
- Net Cash Outflows from Investing Activities: Investing cash flow has consistently been negative, driven primarily by acquisitions and capital expenditures, reaching -$1.35 billion in Q2 2025, which could stress liquidity if not balanced by financing or operating cash flows.
- Rising Short-Term and Long-Term Liabilities: Total liabilities climbed from about $29.17 billion at the end of 2022 to $57.07 billion at Q2 2025, reflecting increased financing and operational obligations that may increase financial risk over time.
Overall Analysis:
Arthur J. Gallagher & Co. is demonstrating growth primarily driven by acquisitions, which is boosting both its asset base and equity. Earnings per share and dividend payments are showing a positive trend, rewarding shareholders. However, the company has experienced pressure on operating cash flows lately due to working capital and heavy acquisition spending. The increasing debt and liabilities warrant monitoring, although the company’s strong equity growth provides some cushion.
For retail investors, this means the stock is supported by solid fundamentals and expansion strategies, but it is important to watch the company's ability to manage cash flow and debt levels in the context of its acquisition-driven growth.
10/20/25 11:38 PM ETAI Generated. May Contain Errors.