Arthur J. Gallagher & Co.

NYSE-AJG

Basic

Market Cap
$59.87B
EV
$67.09B
Shares Out
218.52M
Revenue
$10.44B
Employees
52,000

Margins

Gross
43.28%
EBITDA
31.39%
Operating
23.99%
Pre-Tax
13.6%
Net
10.92%
FCF
19.23%

Returns (5Yr Avg)

ROA
3.14%
ROTA
20.5%
ROE
12.64%
ROCE
10.26%
ROIC
7.61%

Valuation (TTM)

P/E
—
P/B
—
EV/Sales
—
EV/EBITDA
—
P/FCF
—
EV/Gross Profit
—

Valuation (NTM)

Price Target
$277.21
P/E
—
PEG
—
EV/Sales
—
EV/EBITDA
—
P/FCF
—

Financial Health

Cash
$1,415.3M
Net Debt
$7,198.6M
Debt/Equity
0.74
EBIT/Interest
7.42

Growth (CAGR)

Rev 3Yr
12.04%
Rev 5Yr
8.94%
Rev 10Yr
10.7%
Dil EPS 3Yr
4.77%
Dil EPS 5Yr
7.06%
Dil EPS 10Yr
9.31%
Rev Fwd 2Yr
13.7%
EBITDA Fwd 2Yr
16.02%
EPS Fwd 2Yr
13.92%
EPS LT Growth Est
12.87%

Dividends

Yield
—
Payout
44.68%
DPS
$2.3
DPS Growth 3Yr
7.33%
DPS Growth 5Yr
6.48%
DPS Growth 10Yr
4.94%
DPS Growth Fwd 2Yr
8.02%

Metric	Dec '14	Dec '15	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	LTM
Operating Revenues						6,897.1	6,782.2	7,973.9	8,270.1	9,559.2	10,388.5
Interest And Invest. Income	—	—	—	—	—	—	—	—	—	—	45
Other Revenues, Total	—	—	—	—	—	-2.9	-0.4	—	—	—	9.8
Total Revenues						6,894.2	6,781.8	7,973.9	8,270.1	9,559.2	10,443.3
Total Revenues % Chg.						2.7%	-1.6%	17.6%	3.7%	15.6%	18.2%
Cost of Goods Sold, Total						4,692.3	4,348.6	5,100.7	4,626.9	5,405.8	5,923.3
Gross Profit						2,201.9	2,433.2	2,873.2	3,643.2	4,153.4	4,520
Selling General & Admin Expenses, Total						1,068.5	906.5	1,072.4	1,213.7	1,550	1,595.2
Depreciation & Amortization						140.4	145.1	151.2	144.7	165.2	172.9
Amortization of Goodwill and Intangible Assets						334	365.6	397.5	452.9	527.8	604.3
Other Operating Expenses	—			—	—	—	—	-102.5	-150	-367.3	-357.5
Other Operating Expenses, Total						1,542.9	1,417.2	1,518.6	1,661.3	1,875.7	2,014.9
Operating Income						659	1,016	1,354.6	1,981.9	2,277.7	2,505.1
Interest Expense, Total						-179.8	-196.4	-226.1	-256.9	-296.7	-337.5
Interest And Investment Income						86.9	75.9	—	—	—	—
Net Interest Expenses						-92.9	-120.5	-226.1	-256.9	-296.7	-337.5
Income (Loss) On Equity Invest.	—				—	—	—	—	—	—	—
Other Non Operating Income (Expenses)	—	—	—	—		—	—	—	—	—	—
EBT, Excl. Unusual Items						566.1	895.5	1,128.5	1,725	1,981	2,167.6
Restructuring Charges					—	—	—	—	-55.3	-66.8	-66.8
Merger & Related Restructuring Charges					—	—	—	—	-210.5	-278.5	-278.5
Gain (Loss) On Sale Of Investments		—	—		—	—	—	—	—	—	—
Gain (Loss) On Sale Of Assets						75.3	-5.8	—	—	—	—
Asset Writedown						—	-51.7	-17.6	-2	-3.5	-3.5
Legal Settlements	—			—	—	—	—	—	—	—	—
Other Unusual Items						-15.3	32.9	-135.8	-130.2	-447.1	-398.6
EBT, Incl. Unusual Items						626.1	870.9	975.1	1,327	1,185.1	1,420.2
Income Tax Expense						-89.7	12.8	20.1	211	219.1	278.5
Earnings From Continuing Operations						715.8	858.1	955	1,116	966	1,141.7
Minority Interest						-47	-39.3	-48.2	-1.8	3.5	-1.4
Net Income						668.8	818.8	906.8	1,114.2	969.5	1,140.3
Net Income to Common Incl Extra Items						668.8	818.8	906.8	1,114.2	969.5	1,140.3
Net Income to Common Excl. Extra Items						668.8	818.8	906.8	1,114.2	969.5	1,140.3
Total Shares Outstanding						188.1	193.7	208.5	211.9	216.7	223.1
Weighted Avg. Shares Outstanding						186	191	202.7	210.3	214.9	221.5
Weighted Avg. Shares Outstanding Dil						190.1	195	207.3	214.7	219.3	221.5
EPS						3.6	4.3	4.5	5.3	4.5	5.1
EPS Diluted						3.5	4.2	4.4	5.2	4.4	5.1
EBITDA						1,133.3	1,526.7	1,903.3	2,579.5	2,970.7	3,278.4
Effective Tax Rate						-14.3%	1.5%	2.1%	15.9%	18.5%	19.6%