Arthur J. Gallagher (AJG) stock
Financials · Insurance Brokers
Arthur J. Gallagher (AJG) is an Insurance Brokers company in the Financials sector, headquartered in Rolling Meadows, Illinois. As of October 23, 2026, AJG closed at $268.04, a market capitalization of $68.71 billion, the 182nd largest company in the S&P 500. Over the last twelve months it generated $15.11 billion in revenue (+31% year over year) and $2.29 billion in free cash flow. The stock trades at 44.5x trailing earnings and 18.1x forward earnings.
- 1-year total return: -4.0% (dividends reinvested)
- 5-year return: +11.3% a year
- 52-week range: $190.75 – $281.66
- Gross margin 43.2%, operating margin 19.2%
- Dividend yield: 1.04%, 15 straight years of increases
- FI Handbook report card: C+ across 9 metrics
- 29th largest of 76 Financials stocks in the S&P 500
AJG price chart
1Y price change: -5.1% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| AJG | +16.7% | +4.5% | -4.0% | +6.6% | +11.3% | +20.4% | +15.4% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1984.
AJG key statistics
- Market cap
- $68.7B
- #182 in S&P 500
- P/E (TTM)
- 44.5x
- Forward P/E
- 18.1x
- EPS (TTM)
- $6.03
- Revenue (TTM)
- $15.1B
- +31%
- Free cash flow
- $2.3B
- Gross margin
- 43.2%
- Operating margin
- 19.2%
- Return on equity
- 6.7%
- Dividend yield
- 1.04%
- 52-week range
- $190.75 – $281.66
- Beta
- 0.55
- Price / sales
- 4.5x
- EV / EBITDA
- 19.0x
- Debt / equity
- 0.59x
- Employees
- 67,456
AJG report card
C+Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth30.9%A
- Gross margin43.2%B
- Operating margin19.2%C
- FCF margin15.1%B
- Return on equity6.7%D
- Net debt / EBITDA3.0xD
- Forward P/E18.1xB
- PEG ratio0.7xA
- Shareholder yield1.0%D
- Share count change / yr——
Arthur J. Gallagher financials
Revenue went from $5.7B in fiscal 2016 to $13.9B in fiscal 2025, growing 10.5% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.7B | $6.2B | $6.9B | $7.2B | $7.0B | $8.2B | $8.6B | $10.1B | $11.6B | $13.9B |
| Gross profit | $4.3B | $4.6B | $5.1B | $5.8B | $6.1B | $7.0B | $8.5B | — | — | — |
| Net income | $396.8M | $481.3M | $633.5M | $668.8M | $818.8M | $906.8M | $1.1B | $970.0M | $1.5B | $1.5B |
| EPS (diluted) | $2.22 | $2.64 | $3.40 | $3.52 | $4.20 | $4.37 | $5.19 | $4.42 | $6.50 | $5.74 |
| Free cash flow | $431.8M | — | — | — | — | — | — | — | — | — |
| Buybacks | $101.0M | $17.7M | $11.3M | — | — | — | — | — | — | — |
| Dividends paid | $272.2M | $282.7M | $301.8M | $321.1M | $347.4M | $392.0M | $429.5M | $474.0M | $525.0M | $667.0M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into AJG?
A reverse DCF asks what growth the current price requires. With an enterprise value of $81.4B and $2.3B of trailing free cash flow, Arthur J. Gallagher needs to grow free cash flow about 25.4% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 18.1% a year over the last five years.
P/E ratio history
Current 46.7x vs. median 27.9x (10th–90th percentile 20.8x–45.7x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
AJG dividend
- Dividend yield
- 1.04%
- Annual dividend
- $2.80
- Years of increases
- 15
- 5-yr dividend growth
- 7.6%
- per year
- Payout ratio
- 45%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
AJG analyst price targets
18 analysts' average 12-month target is $283.33 (+6% vs. $268.04). Targets range from $242.00 to $388.00. 70% rate it a buy.
AJG earnings
Next report: October 29, 2026. Arthur J. Gallagher has beaten EPS estimates 3 quarters in a row. Last quarter's revenue was $4.0B (+24% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 30, 2026 | $2.81 | $2.84 | +0.9% |
| Apr 30, 2026 | $4.43 | $4.47 | +1.0% |
| Jan 29, 2026 | $2.35 | $2.38 | +1.4% |
| Oct 30, 2025 | $2.54 | $2.32 | -8.5% |
| Jul 31, 2025 | $2.36 | $2.33 | -1.2% |
| May 1, 2025 | $3.58 | $3.67 | +2.5% |
| Jan 30, 2025 | $2.03 | $2.13 | +5.0% |
| Oct 24, 2024 | $2.27 | $2.26 | -0.6% |
Stocks like AJG
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|---|---|---|---|---|---|
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AJG news
- Arthur J. Gallagher (AJG) Earnings Expected to Grow: Should You Buy? · Oct 22, 2026
- Arthur J. Gallagher & Co. Acquires The Mund Group, Ltd. · Oct 21, 2026
- Arthur J. Gallagher & Co. Acquires Intelligent Communications Experiences · Oct 19, 2026
- Arthur J. Gallagher (AJG) Nears Third Quarter Earnings, Is It A Bargain? · Oct 14, 2026
- Does Earnings Momentum And Financial Wellbeing Strategy Change The Bull Case For Arthur J. Gallagher (AJG)? · Oct 14, 2026
AJG stock FAQ
What is AJG's market cap?
Arthur J. Gallagher's market capitalization is $68.71 billion as of October 23, 2026, ranking 182nd in the S&P 500.
What is AJG's P/E ratio?
AJG trades at a trailing price-to-earnings ratio of 44.5x and a forward P/E of 18.1x. Its median P/E over the period we track is 27.9x.
Does AJG pay a dividend?
Yes. Arthur J. Gallagher pays $2.80 per share a year, a 1.04% yield. It has raised its dividend 15 years in a row. Dividends grew 7.6% a year over the last five years.
How much has AJG stock returned?
Including reinvested dividends, AJG returned -4.0% over one year, +11.3% a year over five years, +20.4% a year over ten years through October 23, 2026.
Is AJG stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Arthur J. Gallagher must grow free cash flow about 25% a year for the next decade. Its free cash flow grew 18% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the AJG price target?
18 analysts cover AJG with an average 12-month price target of $283.33, +6% from the current price. 70% of them rate it a buy.
When does AJG report earnings?
Arthur J. Gallagher is expected to report earnings on October 29, 2026. It has beaten EPS estimates 3 quarters in a row.
How many employees does Arthur J. Gallagher have?
Arthur J. Gallagher has about 67,456 full-time employees, or $223,983 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology