olivLaw · US equity research
Arthur J. Gallagher & Co. AJG
Insurance Agents, Brokers & Service · SIC 6411 · Vertical: Insurance Agents, Brokers & Service (SIC 6411)
Arthur J. Gallagher & Co. (AJG) is an insurance and reinsurance broker that also provides consulting and third-party claims administration; in 2025 about 87% of its revenues came from the brokerage segment and 13% from risk management. In the second quarter of 2026, combined revenues of the brokerage and risk management segments rose 24%, including 6% organic growth.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Arthur J. Gallagher & Co. (AJG) stock was 288.38 USD (+5.46% on the day), with market capitalisation 73.9 bn USD, P/E 50.2 on diluted EPS of 5.74 USD over the last 12 months, dividend yield 0.94%, beta 0.15, 52-week range 192.00–288.38 USD. Latest reported quarter (Q2 2026): revenue of 4.0 bn USD (+24.2% YoY), net income of 324.0 m USD (−12.0% YoY), diluted EPS 1.25 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 71.9
- overbought (≥ 70)
- Bollinger (20, 2)
- 225.13 – 290.51
- in the upper half of the band · %B 0.97 · band width 25.4%
- SMA 50 / 200
- 249.10 / 232.41
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 10.20 / 7.38
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +26.9% | −1.1% | +28.0 pp | — |
| 3 months | +14.9% | −0.5% | +15.3 pp | — |
| 6 months | +46.5% | +4.4% | +42.1 pp | — |
| Year to date | +11.4% | +12.3% | −0.9 pp | — |
| 1 year | +14.6% | +13.5% | +1.0 pp | −3.9% |
| 3 years | +19.0% | +76.4% | −57.4 pp | +1.3% |
| 5 years | +79.9% | +63.7% | +16.3 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.8 bn | 2.7 bn | 3.7 bn | 3.2 bn | 3.4 bn | 3.6 bn | 4.8 bn | 4.0 bn |
| Depreciation & amortisation | 210.0 m ≈ | 213.7 m | 255.0 m | 230.0 m ≈ | 275.5 m ≈ | 361.5 m | 339.0 m | 358.0 m ≈ |
| Interest expense | 92.9 m | 101.6 m | 158.0 m | 158.0 m | 160.8 m | 161.2 m | 158.0 m | 168.0 m |
| Pre-tax income | 403.3 m | 333.4 m | 873.0 m | 473.0 m | 346.9 m | 180.0 m | 1.0 bn | 414.0 m |
| Income tax | 89.2 m | 74.6 m | 164.0 m | 105.0 m | 73.3 m | 25.7 m | 220.0 m | 90.0 m |
| Net income | 312.6 m | 258.6 m | 704.0 m | 368.0 m | 272.7 m | 151.1 m | 822.0 m | 324.0 m |
| Diluted EPS | 1.39 | — | 2.72 | 1.40 | 1.04 | — | 3.16 | 1.25 |
| Operating cash flow | 934.8 m ≈ | 739.4 m | 872.0 m | -424.0 m ≈ | 729.0 m ≈ | 753.0 m | 957.0 m | 10.0 m ≈ |
| Dividends paid | 131.6 m ≈ | 131.4 m | 166.0 m | 167.0 m ≈ | 166.5 m ≈ | 167.5 m | 180.0 m | 179.0 m ≈ |
| Share repurchases | — | — | 0 | 0 ≈ | — | — | 310.0 m | 170.0 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 100 percentile of its own 8-quarter history (min 23.0, median 27.9, max 32.2; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 6.9 bn | 7.2 bn | 7.0 bn | 8.2 bn | 8.6 bn | 10.1 bn | 11.6 bn | 13.9 bn |
| Revenue YoY | +12.6% | +3.8% | −2.7% | +17.2% | +4.2% | +17.8% | +14.7% | +20.7% |
| Net income | 633.5 m | 668.8 m | 818.8 m | 906.8 m | 1.1 bn | 970.0 m | 1.5 bn | 1.5 bn |
| Net income YoY | +31.6% | +5.6% | +22.4% | +10.7% | +22.9% | −12.9% | +50.8% | +2.1% |
| Diluted EPS | 3.40 | 3.52 | 4.20 | 4.37 | 5.19 | 4.42 | 6.50 | 5.74 |
| Diluted EPS YoY | +28.8% | +3.5% | +19.3% | +4.0% | +18.8% | −14.8% | +47.1% | −11.7% |
| net % | 9.1% | 9.3% | 11.7% | 11.0% | 13.0% | 9.6% | 12.7% | 10.7% |
| Free cash flow | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 1.4 bn USD
- Financial debt
- 12.7 bn USD
- Net debt
- 11.3 bn USD
- Equity
- 23.3 bn USD
- Total assets
- 70.7 bn USD
- Debt / equity
- 0.55x
- Current ratio
- 1.06x
- ROE
- 6.9%
- ROA
- 2.2%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 7.0 bn | 8.2 bn | 8.6 bn | 10.1 bn | 11.6 bn | 13.9 bn | SEC (XBRL)· 17 Feb 2026verified |
| Cost of revenue | 882.1 m | 1.2 bn | 22.9 m | — | — | — | SEC (XBRL)· 10 Feb 2023verified |
| Gross profit | 6.1 bn ≈ | 7.0 bn ≈ | 8.5 bn ≈ | — | — | — | SEC (XBRL)· 10 Feb 2023derived |
| Depreciation & amortisation | 562.4 m | 566.3 m | 599.6 m | 697.0 m | 843.0 m | 1.1 bn | SEC (XBRL)· 17 Feb 2026verified |
| Interest expense | 196.4 m | 226.1 m | 256.9 m | 297.0 m | 381.0 m | 639.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Pre-tax income | 870.9 m | 975.1 m | 1.3 bn | 1.2 bn | 1.9 bn | 1.9 bn | SEC (XBRL)· 17 Feb 2026verified |
| Income tax | 12.8 m | 20.1 m | 211.0 m | 219.0 m | 404.0 m | 368.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Net income | 818.8 m | 906.8 m | 1.1 bn | 970.0 m | 1.5 bn | 1.5 bn | SEC (XBRL)· 17 Feb 2026verified |
| Diluted EPS | 4.20 | 4.37 | 5.19 | 4.42 | 6.50 | 5.74 | SEC (XBRL)· 17 Feb 2026verified |
| Dividend per share | 1.80 | 1.92 | 2.04 | 2.20 | 2.40 | 2.60 | SEC (XBRL)· 17 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 664.6 m | 402.6 m | 738.4 m | 971.0 m | 15.0 bn | 1.4 bn | SEC (XBRL)· 17 Feb 2026verified |
| Receivables | — | — | 2.9 bn | 3.8 bn | 3.9 bn | 5.2 bn | SEC (XBRL)· 17 Feb 2026verified |
| Current assets | 11.1 bn | 17.7 bn | 22.3 bn | 32.1 bn | 44.1 bn | 34.4 bn | SEC (XBRL)· 17 Feb 2026verified |
| Property, plant & equipment, net | 450.7 m | 500.8 m | 576.2 m | 726.4 m | 650.0 m | 789.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Goodwill | 6.1 bn | 8.7 bn | 9.5 bn | 11.5 bn | 12.3 bn | 22.6 bn | SEC (XBRL)· 17 Feb 2026verified |
| Intangibles (excl. goodwill) | 2.4 bn | 4.0 bn | 3.4 bn | 4.6 bn | 4.5 bn | 10.7 bn | SEC (XBRL)· 17 Feb 2026verified |
| Total assets | 22.3 bn | 33.2 bn | 38.4 bn | 51.6 bn | 64.3 bn | 70.7 bn | SEC (XBRL)· 17 Feb 2026verified |
| Short-term debt | 75.0 m | 245.0 m | 310.0 m | 670.0 m | 200.0 m | 640.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Long-term debt | 4.3 bn | 5.8 bn | 5.6 bn | 7.0 bn | 12.7 bn | 12.1 bn | SEC (XBRL)· 17 Feb 2026verified |
| Current liabilities | 10.1 bn | 16.7 bn | 21.3 bn | 31.1 bn | 29.3 bn | 32.5 bn | SEC (XBRL)· 17 Feb 2026verified |
| Total liabilities | 16.1 bn | 24.8 bn | 29.2 bn | 40.8 bn | 44.1 bn | 47.3 bn | SEC (XBRL)· 17 Feb 2026verified |
| Equity | 6.2 bn | 8.6 bn | 9.2 bn | 10.8 bn | 20.2 bn | 23.3 bn | SEC (XBRL)· 17 Feb 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 1.8 bn | 1.4 bn | 1.4 bn | 2.0 bn | 2.6 bn | 1.9 bn | SEC (XBRL)· 17 Feb 2026verified |
| Investing cash flow | -471.4 m | -3.4 bn | -1.0 bn | -3.3 bn | -1.6 bn | -15.9 bn | SEC (XBRL)· 17 Feb 2026verified |
| Financing cash flow | -505.1 m | 3.0 bn | 212.6 m | 2.9 bn | 13.1 bn | 1.7 bn | SEC (XBRL)· 17 Feb 2026verified |
| Dividends paid | 347.4 m | 392.0 m | 429.5 m | 474.0 m | 525.0 m | 667.0 m | SEC (XBRL)· 17 Feb 2026verified |
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 43.8% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 73.9 bn USD
Key indicators
Coverage and freshness
Score by group
44% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 34.17 – 222.59 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the input exists, but its latest figure is far older than the latest reported period: not used
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E90.49 – 222.59 (Mid 135.21)11 companies used · median multiple 22.1x · quartiles 14.8x – 36.3xACT, AON, BRO, CRVL, GSHD, MRSH, RYAN, SLQT, TWFG, WDH, WTW
- Dividend discount (DDM)34.17 – 45.95 (Mid 39.19)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 43.8% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 10.0% | 62 (vs peers) | 14% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 17.7% | 100 (on a fixed band) | 19% |
| EPS CAGR 3Y · Growth | 3.4% | 23 (on a fixed band) | 19% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 1.1x | 21 (on a fixed band) | 10% |
| P/E (TTM) · Valuation | 47.1x | 31 (vs peers) | 24% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 0.9% | 13 (on a fixed band) | 14% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial21/100 · 1/3 factors with a value
- Growth61/100 · 2/2 factors with a value
- Quality· partial62/100 · 1/3 factors with a value
- Returns· partial13/100 · 1/2 factors with a value
- Valuation· partial31/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
ARTHUR J. GALLAGHER & CO. (AJG). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 13.9 bn USD in 2025; YoY growth 20.7%; net margin 10.0%; ROE 6.7%.
The estimated value range is 62.33–134.27 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 87.20 USD, the price of 288.38 USD leaves a potential of -69.8% (value / price − 1) and a margin of safety of -230.7% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 43.8% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Revenue CAGR 3Y: 17.7%
What contradicts it
- EPS CAGR 3Y: 3.4%
- Current ratio: 1.1x
- Shareholder yield (distributions): 0.9%
- The price is above the estimated value range
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Net debt / EBITDA, Interest coverage, EV/EBITDA, FCF yield, Payout ratio (FCF).
Versus the vertical median
Insurance Agents, Brokers & Service (SIC 6411) · same industry (4-digit SIC) · compared with 29 companies
The size band was not applied: too few companies would have remained; the vertical includes much smaller or larger companies.
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| MRSHMarsh & Mclennan Companies, Inc. | 100.0 bn | 25.2 | 26.7% | 14.2% | +10.3% | +15% / +5% |
| XHGXChange TEC.INC | 85.9 bn | — | — | -204.9% | +24.9% | +253% / −100% |
| AJGArthur J. Gallagher & Co. | 73.9 bn | 47.1 | 6.7% | 10.0% | +20.7% | +15% / +19% |
| AONAon plc | 73.1 bn | 18.9 | 43.6% | 22.2% | +9.4% | −3% / +5% |
| WTWWillis Towers Watson PLC | 31.1 bn | 20.5 | 20.2% | 15.2% | −2.2% | +5% / +37% |
| BROBrown & Brown, Inc. | 24.5 bn | 22.1 | 9.7% | 17.6% | +22.8% | −8% / −1% |
| EQHEquitable Holdings, Inc. | 15.3 bn | — | -508.8% | -8.7% | −6.1% | +20% / +83% |
| AIFUAIFU Inc. | 10.5 bn | — | -155.9% | -408.8% | −67.9% | −84% / −100% |
| ACTEnact Holdings, Inc. | 6.6 bn | 10.7 | 12.7% | 53.8% | +2.8% | +25% / +74% |
| HGTYHagerty, Inc. | 6.5 bn | 108.0 | 25.6% | 4.4% | +17.3% | +40% / +121% |
| RYANRyan Specialty Holdings, Inc. | 5.2 bn | 49.9 | 19.4% | 3.2% | +21.3% | −18% / +4% |
| CRVLCorvel Corporation | 4.4 bn | 38.9 | 30.7% | 11.7% | +7.0% | +19% / +26% |
| WDHWaterdrop Inc. | 3.6 bn | 50.5 | 11.6% | 14.2% | +49.8% | −44% / −16% |
| ARXAccelerant Holdings | 3.3 bn | — | -241.6% | -112.1% | +51.5% | +36% / unavailable |
| NPNeptune Insurance Holdings Inc. | 2.7 bn | 91.6 | — | 22.7% | +33.7% | +22% / unavailable |
| GSHDGoosehead Insurance, Inc. | 1.2 bn | 33.8 | — | 8.8% | +16.2% | −21% / −23% |
| HUIZHuize Holding Limited | 1.1 bn | — | 1.0% | 0.3% | +32.2% | −31% / −48% |
| BWINThe Baldwin Insurance Group, Inc. | 1.1 bn | — | -10.7% | -4.7% | +8.3% | +13% / +84% |
| RDZNRoadzen Inc. | 92.8 m | — | — | -46.9% | +24.2% | −37% / −78% |
| SLQTSelectQuote, Inc. | 88.1 m | 7.3 | 23.4% | 4.6% | +6.0% | −66% / −61% |
| EHTHeHealth, Inc | 20.3 m | — | 5.0% | 5.4% | +4.1% | −84% / −91% |
| EZRAReliance Global Group, Inc. | 2.4 m | — | -123.4% | -54.3% | −11.6% | −91% / −100% |
| LIFEEthos Technologies Inc. | 0 | — | -50.8% | -16.2% | +52.0% | unavailable / unavailable |
| CRD-ACrawford & Co | — | — | 14.0% | 2.0% | −2.2% | +7% / +7% |
| YBYuanbao Inc. | — | — | 152.7% | 29.9% | +33.1% | −43% / unavailable |
1- and 3-year price returns: for AJG from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 188.45 Total return -34% · Per year -34% | 331.64 Total return 16% · Per year 16% | 497.46 Total return 74% · Per year 74% |
| 3 years | 223.53 Total return -20% · Per year -7% | 438.59 Total return 56% · Per year 16% | 716.34 Total return 153% · Per year 36% |
| 5 years | 265.14 Total return -3% · Per year -1% | 580.04 Total return 109% · Per year 16% | 1,031.52 Total return 268% · Per year 30% |
- Exit P/E± 109.65
- Net margin± 76.75
- Annual revenue growth± 57.24
- Annual dilution± 6.45
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 05 Aug 2026; since then the company filed 8-K (29 Oct 2026 · results).
In brief
Arthur J. Gallagher & Co. (AJG) is an insurance and reinsurance broker that also provides consulting and third-party claims administration; in 2025 about 87% of its revenues came from the brokerage segment and 13% from risk management 1. In the second quarter of 2026, combined revenues of the brokerage and risk management segments rose 24%, including 6% organic growth 3.
SWOT
Strengths
- The company has a global office network and geographic diversification that reduces dependence on a single market.
- Expertise in specialized niches and data analytics capabilities support client relationships.
- A highly diversified client base limits exposure to the loss of any single important client.
Weaknesses
- The repeated acquisition strategy brings integration, cultural and goodwill impairment risks.
- Personnel costs are high and can pressure margins when interest income declines.
- The corporate segment posts net losses, and clean energy investments may add further losses.
Opportunities
- Growing demand for risk analysis, market access and specialist expertise could support higher revenues.
- Expanding claims administration services to insurance companies could open new revenue sources.
- Integrating recent acquisitions could bring cost and revenue synergies if executed as planned.
Threats
- An economic recession could reduce insurance coverage bought by clients and commission revenues.
- Higher prices from private equity buyers could make acquisitions harder to complete.
- Regulatory changes and legal risks could create additional costs or reputational damage.
Risks
- Macroeconomic riskmedium
A recession, geopolitical instability and shifting interest rates could reduce commission and interest revenues 1.
- Financial difficulty at insurersmedium
If insurers or reinsurers face liquidity problems, payments owed to Gallagher could be delayed or not made 1.
- Acquisition riskhigh
Integration difficulties and unknown liabilities could affect growth and could lead to goodwill impairment 1.
- Cybersecurity riskmedium
An attack on information systems or those of third-party vendors could lead to regulatory scrutiny, legal liability and loss of client trust 1.
- Regulatory riskmedium
Legislative changes across several jurisdictions could raise compliance costs or limit activity in some markets 1.
Investment thesis
What would need to be true (bull case)
- Solid organic growth and continued demand for analytics and market access could support long-term revenues 3.
- Geographic and revenue diversification could cushion the effect of weakness in particular regions or segments 1.
- If recent acquisitions are integrated as planned, synergies could improve margins.
What would break the thesis
What to watch
- Trend in combined organic revenue growthQ3 2026
- Adjusted margin of the brokerage segment and personnel cost levelsQ3 2026
- Integration of AssuredPartners and effects on costs and revenues2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 05 Aug 2026; since then the company filed 8-K (29 Oct 2026 · results).
The business
In 2025 the company completed the AssuredPartners and Woodruff Sawyer acquisitions, the latter funded with cash on hand 1. For the first six months of 2026, adjusted diluted earnings per share were 7.31 dollars, compared with 6.04 dollars a year earlier 3. Organic growth in base commissions and fees was steady, while supplemental and contingent revenues moved differently 23.
Market context
Trends
- Insurance pricing cyclemixed
Rate increases in 2025 supported commissions, but a softening market could reduce this effect because commissions follow premium levels 1.
- Acquisitionsmixed
The acquisition strategy continues to support growth, but high prices for targets and competition from private equity could make deals harder to complete 1.
- Organic growthtailwind
Combined organic revenue growth was 6% in the second quarter of 2026, pointing to solid demand for services 3.
- Lower interest incomeheadwind
Lower interest income compared with the second quarter of 2025 pressured the compensation expense ratio and could weigh on margins in the near term 3.
Competitive position
Gallagher competes with a large number of organizations and individuals worldwide, as well as insurers that distribute some products directly 1. Key competitive factors include service quality, expertise, data analytics and cost efficiency for clients 1.
In claims administration the company competes with global and regional administrators, insurer-owned claims units and law firms, where its outcomes for clients and financial strength could be advantages 1.
- Global insurance brokers
Global brokers and consultants competing in brokerage and consulting, referred to generically in the sources without being named
- Independent claims administrators
Global and regional third-party claims administrators competing in the risk management segment
- Insurers that sell directly
Carriers that distribute part of their products directly and can compete with brokers
- Banks, consultants and technology firms
Players that can offer alternative risk management products or services and compete with the company's offerings
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Brendan Gallagher isnt ( really ) thinking about retirementSurge — GDELT DOC · 24 Oct 2026 · RO
- Artists including Noel Gallagher show support for Garvaghy Road residentsThe Guardian World · 07 Oct 2026 · EN
- City: Liam Gallagher anunță ce pedeapsă va primi clubul - GSPSurge — Google News · 28 Sept 2026 · RO
- Australia news live: Chalmers and Gallagher to present final budget outcome; RBA interest rate hike loomsThe Guardian World · 27 Sept 2026 · EN
- Liam Gallagher leaks Man City punishment after private chat as club avoid relegationSurge — GDELT DOC · 27 Sept 2026 · RO
- Anthony Albanese says he only learned about AI hack while in New York , days after frontbencher Katy GallagherSurge — GDELT DOC · 25 Sept 2026 · RO
- Silver Beech’s Investment Thesis for Arthur J. Gallagher (AJG)Yahoo Finance — News · 22 Sept 2026 · EN
- Gallagher’s (AJG) Colorado Deal Is Another Brick in a Very Big WallYahoo Finance — News · 19 Sept 2026 · EN
- Arthur J. Gallagher Stock: Is AJG Underperforming the Financial Service Sector?Yahoo Finance — News · 07 Sept 2026 · EN
- Do You Believe Arthur J. Gallagher (AJG) Could Deliver Mid-Teens EPS Growth for Years?Yahoo Finance — News · 03 Sept 2026 · EN
- Do Wall Street Analysts Like Arthur J. Gallagher Stock?Yahoo Finance — News · 26 Aug 2026 · EN
- Monseniorul Gallagher, ”ministrul de externe” al Vaticanului, întâlnire cu Lavrov la Moscova / Trimisul Papei s-a aflat în capitala Rusiei în același timp cu șeful CIA / ”Să fie clar, acest război trebuie să se termine”G4Media · 25 Aug 2026 · RO
The latest news item in our archive is from 24 Oct 2026; the newest SEC filing is from 29 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report29 Oct 2026Results of operations · Regulation FD disclosure
- Current report27 Aug 2026Departure or appointment of officers
- Quarterly report05 Aug 2026
- Current report30 Jul 2026Results of operations · Regulation FD disclosure
- Current report29 Jul 2026Other events
- Current report17 Jun 2026Regulation FD disclosure
- Current report13 May 2026Shareholder vote
- Quarterly report07 May 2026
- Current report30 Apr 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Proxy statement23 Mar 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Arthur J. Gallagher & Co. · 17 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Arthur J. Gallagher & Co. · 05 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Arthur J. Gallagher & Co. · 30 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.