Stocktoria

Arthur J. Gallagher & Co. AJG

NYSE · stock · Insurance Agents, Brokers & Service · website · IPO 1984-06-21 · LEI

Arthur J. Gallagher & Co. statistics & valuation

Market cap$58.1B
P / E38.9×
P / S4.2×
P / B2.5×
Dividend yield1.15%
Net margin10.7%
Return on equity6.4%
Net debt$12.9B
Enterprise value USD$70.9B
Graham number -57.6%$108.32

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($108.32); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
7.00% 7.70% 9.10% 9.30% 11.70% 11.00% 13.00% 9.60% 12.70% 10.70% 2016201720182019202020212022202320242025
Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
2016201720182019202020212022202320242025
Return on equity (%)
10.50% 11.20% 13.90% 12.80% 13.10% 10.60% 12.10% 9.00% 7.20% 6.40% 2016201720182019202020212022202320242025
Shares outstanding
178.3M 181.0M 184.0M 188.1M 193.7M 208.5M 211.9M 216.7M 250.0M 257.0M 2016201720182019202020212022202320242025
Net debt ($)
$1.60B $2.01B $2.48B $3.21B $3.60B $5.41B $4.82B $7.01B $12.73B $12.87B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
2.90% 3.20% 3.90% 3.40% 3.70% 2.70% 2.90% 1.90% 2.30% 2.10% 2016201720182019202020212022202320242025
Free cash flow margin (%)
7.60% 2016201720182019202020212022202320242025
Debt / equity (×)
0.57× 0.63× 0.68× 0.73× 0.68× 0.68× 0.61× 0.65× 0.63× 0.55× 2016201720182019202020212022202320242025
EPS ($)
$2.22 $2.64 $3.40 $3.52 $4.20 $4.37 $5.19 $4.42 $6.50 $5.74 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Arthur J. Gallagher & Co. trades at about 44.5× earnings — above its 10-year norm (10-year range 22×–52.5×, median 36.1×).

22× 52.5×

Shaded band = 10-year range (22×–52.5×); dot = today's 44.5×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Net margin10.7%12.7%9.6%13.0%11.0%11.7%9.3%9.1%7.7%7.0%
FCF margin—————————7.6%
Return on assets2.1%2.3%1.9%2.9%2.7%3.7%3.4%3.9%3.2%2.9%
Return on equity6.4%7.2%9.0%12.1%10.6%13.1%12.8%13.9%11.2%10.5%
Debt / equity0.55×0.63×0.65×0.61×0.68×0.68×0.73×0.68×0.63×0.57×
Current ratio1.061.511.031.041.061.101.021.061.080.96

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.