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← Arthur J. Gallagher & Co. (AJG)

Arthur J. Gallagher & Co. (AJG) Q2 FY2026 Financial Statements: Revenue $4.00B, Net earnings $324.00M

CIK 0000354190 · NYSE · Latest period: Q2 FY2026 (ended 2026-06-30, 10-Q accession 0001628280-26-053489) · Annual report: FY2025 10-K (filed 2026-02-17, accession 0001628280-26-008662) · Next expected filing: 10-Q ~2026-11-09

More for Arthur J. Gallagher: Company index · 10-K and 10-Q summary · 8-K filings and events

PeriodQ2 FY2026

Published

Arthur J. Gallagher & Co. reported total revenues of $4.00 billion for Q2 FY2026, the quarter ended June 30, 2026, up 24.2% from a year earlier, as acquisitions led by AssuredPartners expanded its brokerage business. Net earnings attributable to controlling interests were $324 million, down 12.0%, and diluted earnings per share were $1.25 against $1.40. Earnings fell because interest income dropped after the cash raised to buy AssuredPartners was spent at closing, and amortization of acquired intangibles rose.

MetricAmountvs. year ago
Revenue$4,003,000,000up 24.2%
Net earnings$324,000,000down 12.0%
Diluted EPS$1.25down 10.7%
Brokerage revenue$3,502,000,000up 25.7%
Interest and other income$98,000,000down 57.9%

Figures link to the filing they came from. Wherever the SEC filing tags a number, that number is linked: click it and the filing opens at the exact line that prints it. Figures calculated here, such as margins, free cash flow and trailing-twelve-month totals, have no line in a filing to point to and are not linked.

About this file

TickerAJG
CIK0000354190
CompanyArthur J. Gallagher & Co.
Business typeinsurance_broker
Schema templateinsurance broker / services: revenue by type (commissions, fees, supplemental, contingent, interest and other), expenses by nature (compensation, operating, interest, depreciation, amortization, earnout remeasurement), pre-tax and net earnings, diluted EPS; balance sheet with fiduciary assets and liabilities shown separately from corporate borrowings; operating cash flow, capital expenditures, acquisitions, dividends and buybacks; revenue and pre-tax earnings by reportable segment
Reporting currencyUSD
Converted to USDno
Unitsactual US dollars (not millions); share counts in actual shares; per-share amounts in dollars

AJG annual income statement, balance sheet and cash flow

FY2025FY2024FY2023
Period start2025-01-012024-01-012023-01-01
Period end2025-12-312024-12-312023-12-31
Period typefiscal yearfiscal yearfiscal year
Source accession10-K10-K10-K
Income statement
Commissions8,024,000,0006,694,000,0005,865,000,000
Fees4,195,000,0003,607,000,0003,145,000,000
Supplemental revenues466,000,000359,000,000314,000,000
Contingent revenues324,000,000268,000,000235,000,000
Interest income premium finance revenues and other income769,000,000473,000,000368,000,000
Revenues before reimbursements13,778,000,00011,401,000,0009,927,000,000
Reimbursements revenue164,000,000154,000,000145,000,000
Total revenues13,942,000,00011,555,000,00010,072,000,000
Compensation expense7,842,000,0006,522,000,0005,681,000,000
Operating expense2,258,000,0001,754,000,0001,689,000,000
Reimbursements expense164,000,000154,000,000145,000,000
Interest expense639,000,000381,000,000297,000,000
Depreciation206,000,000178,000,000165,000,000
Amortization916,000,000665,000,000532,000,000
Change in estimated acquisition earnout payables46,000,00026,000,000378,000,000
Total expenses12,071,000,0009,680,000,0008,887,000,000
Earnings before income taxes1,871,000,0001,875,000,0001,185,000,000
Provision for income taxes368,000,000404,000,000219,000,000
Net earnings1,503,000,0001,471,000,000966,000,000
Net earnings attributable to noncontrolling interests9,000,0008,000,000-4,000,000
Net earnings attributable to controlling interests1,494,000,0001,463,000,000970,000,000
Basic EPS5.836.634.51
Diluted EPS5.746.504.42
Dividends declared per share2.62.42.2
Basic weighted average shares256,100,000220,500,000214,900,000
Diluted shares260,100,000225,000,000219,300,000
Balance sheet
Cash and cash equivalents1,396,000,00014,987,000,000
Fiduciary assets26,899,000,00024,712,000,000
Accounts receivable net5,175,000,0003,896,000,000
Other current assets886,000,000518,000,000
Total current assets34,356,000,00044,113,000,000
Fixed assets net789,000,000650,000,000
Deferred income taxes43,000,000959,000,000
Other noncurrent assets1,602,000,0001,355,000,000
Right of use assets598,000,000378,000,000
Goodwill22,593,000,00012,270,000,000
Amortizable intangible assets net10,684,000,0004,530,000,000
Total assets70,665,000,00064,255,000,000
Fiduciary liabilities26,899,000,00024,712,000,000
Accrued compensation and other current liabilities4,017,000,0003,586,000,000
Deferred revenue current737,000,000537,000,000
Premium financing debt226,000,000225,000,000
Corporate related borrowings current640,000,000200,000,000
Total current liabilities32,519,000,00029,260,000,000
Corporate related borrowings noncurrent12,104,000,00012,732,000,000
Deferred revenue noncurrent155,000,00067,000,000
Lease liabilities noncurrent515,000,000328,000,000
Other noncurrent liabilities2,025,000,0001,688,000,000
Total liabilities47,318,000,00044,075,000,000
Capital in excess of par value17,783,000,00016,069,000,000
Retained earnings5,806,000,0004,986,000,000
Accumulated other comprehensive loss-525,000,000-1,151,000,000
Stockholders equity attributable to controlling interests23,321,000,00020,154,000,000
Noncontrolling interests26,000,00026,000,000
Total equity23,347,000,00020,180,000,000
Common shares outstanding257,000,000250,000,000
Total debt12,970,000,00013,157,000,000
Total debt principal13,099,000,00013,298,000,000
Cash flow
Depreciation and amortization1,122,000,000843,000,000697,000,000
Payments on acquisition earnouts in excess of original estimates-491,000,000-43,000,000-68,000,000
Net change in accounts receivable-278,000,000-65,000,000-504,000,000
Operating cash flow1,930,000,0002,583,000,0002,032,000,000
Capital expenditures-145,000,000-142,000,000-194,000,000
Cash paid for acquisitions net of cash acquired-15,766,000,000-1,462,000,000-3,042,000,000
Net cash used by investing activities-15,876,000,000-1,587,000,000-3,293,000,000
Payments on acquisition earnouts-442,000,000-143,000,000-98,000,000
Proceeds from issuance of common stock1,499,000,0008,507,000,000120,000,000
Dividends paid-667,000,000-525,000,000-474,000,000
Net change in fiduciary assets and liabilities1,531,000,000-1,000,0001,297,000,000
Borrowings on line of credit facility2,546,000,0001,663,000,0003,795,000,000
Repayments on line of credit facility-2,546,000,000-1,907,000,000-3,610,000,000
Net borrowings of corporate related long term debt-197,000,0005,552,000,0001,634,000,000
Net cash provided by financing activities1,713,000,00013,052,000,0002,874,000,000
Cash and fiduciary cash end of period8,538,000,00020,468,000,0006,543,000,000
Free cash flow1,785,000,0002,441,000,0001,838,000,000
Segments
Brokerage
Total revenues12,192,000,0009,934,000,0008,637,000,000
Earnings before income taxes2,759,000,0002,259,000,0001,571,000,000
Net earnings attributable to controlling interests2,043,000,0001,678,000,0001,163,000,000
Risk management
Total revenues1,749,000,0001,605,000,0001,433,000,000
Earnings before income taxes249,000,000238,000,000209,000,000
Net earnings attributable to controlling interests183,000,000175,000,000154,000,000
Corporate
Total revenues1,000,00016,000,0002,000,000
Earnings before income taxes-1,137,000,000-622,000,000-595,000,000
Net earnings attributable to controlling interests-732,000,000-390,000,000-347,000,000

AJG quarterly income statement, balance sheet and cash flow

Q2 2026Q2 2025
Fiscal quarter22
Period start2026-04-012025-04-01
Period end2026-06-302025-06-30
Period typethree monthsthree months
Source accession10-Q10-Q
Income statement
Commissions2,442,000,0001,808,000,000
Fees1,183,000,000962,000,000
Supplemental revenues141,000,000103,000,000
Contingent revenues91,000,00073,000,000
Interest income premium finance revenues and other income98,000,000233,000,000
Revenues before reimbursements3,955,000,0003,179,000,000
Reimbursements revenue48,000,00043,000,000
Total revenues4,003,000,0003,222,000,000
Compensation expense2,330,000,0001,804,000,000
Operating expense679,000,000519,000,000
Reimbursements expense48,000,00043,000,000
Interest expense168,000,000158,000,000
Depreciation57,000,00050,000,000
Amortization301,000,000180,000,000
Change in estimated acquisition earnout payables6,000,000-5,000,000
Total expenses3,589,000,0002,749,000,000
Earnings before income taxes414,000,000473,000,000
Provision for income taxes90,000,000105,000,000
Net earnings324,000,000368,000,000
Net earnings attributable to noncontrolling interests00
Net earnings attributable to controlling interests324,000,000368,000,000
Basic EPS1.261.43
Diluted EPS1.251.40
Dividends declared per share0.700.65
Basic weighted average shares256,700,000256,200,000
Diluted shares258,700,000260,400,000
Balance sheet
Cash and cash equivalents1,386,000,000
Fiduciary assets37,183,000,000
Accounts receivable net6,076,000,000
Other current assets807,000,000
Total current assets45,452,000,000
Fixed assets net765,000,000
Deferred income taxes43,000,000
Other noncurrent assets1,732,000,000
Right of use assets578,000,000
Goodwill23,026,000,000
Amortizable intangible assets net10,212,000,000
Total assets81,808,000,000
Fiduciary liabilities37,183,000,000
Accrued compensation and other current liabilities3,548,000,000
Deferred revenue current788,000,000
Premium financing debt134,000,000
Corporate related borrowings current1,520,000,000
Total current liabilities43,173,000,000
Corporate related borrowings noncurrent11,955,000,000
Deferred revenue noncurrent177,000,000
Lease liabilities noncurrent497,000,000
Other noncurrent liabilities2,259,000,000
Total liabilities58,061,000,000
Capital in excess of par value17,567,000,000
Retained earnings6,588,000,000
Accumulated other comprehensive loss-694,000,000
Stockholders equity attributable to controlling interests23,717,000,000
Noncontrolling interests30,000,000
Total equity23,747,000,000
Common shares outstanding256,300,000
Total debt13,609,000,000
Total debt principal13,732,000,000
Segments
Brokerage
Total revenues3,502,000,0002,787,000,000
Earnings before income taxes604,000,000686,000,000
Net earnings attributable to controlling interests450,000,000510,000,000
Risk management
Total revenues501,000,000435,000,000
Earnings before income taxes78,000,00058,000,000
Net earnings attributable to controlling interests57,000,00043,000,000
Corporate
Total revenues00
Earnings before income taxes-268,000,000-271,000,000
Net earnings attributable to controlling interests-183,000,000-185,000,000

AJG year-to-date income statement and cash flow

Six months ended June 30, 2026Six months ended June 30, 2025
Period start2026-01-012025-01-01
Period end2026-06-302025-06-30
Period typesix monthssix months
Source accession10-Q10-Q
Income statement
Commissions5,565,000,0004,057,000,000
Fees2,395,000,0001,947,000,000
Supplemental revenues321,000,000217,000,000
Contingent revenues206,000,000166,000,000
Interest income premium finance revenues and other income184,000,000480,000,000
Revenues before reimbursements8,671,000,0006,867,000,000
Reimbursements revenue90,000,00082,000,000
Total revenues8,761,000,0006,949,000,000
Compensation expense4,846,000,0003,701,000,000
Operating expense1,322,000,0001,009,000,000
Reimbursements expense90,000,00082,000,000
Interest expense326,000,000316,000,000
Depreciation118,000,00095,000,000
Amortization579,000,000390,000,000
Change in estimated acquisition earnout payables23,000,00010,000,000
Total expenses7,304,000,0005,603,000,000
Earnings before income taxes1,457,000,0001,346,000,000
Provision for income taxes310,000,000269,000,000
Net earnings1,147,000,0001,077,000,000
Net earnings attributable to noncontrolling interests1,000,0005,000,000
Net earnings attributable to controlling interests1,146,000,0001,072,000,000
Basic EPS4.464.19
Diluted EPS4.414.12
Dividends declared per share1.41.3
Basic weighted average shares256,900,000255,500,000
Diluted shares259,300,000259,900,000
Cash flow
Depreciation and amortization697,000,000485,000,000
Payments on acquisition earnouts in excess of original estimates-141,000,000-480,000,000
Net change in accounts receivable-949,000,000-681,000,000
Operating cash flow967,000,000448,000,000
Capital expenditures-87,000,000-68,000,000
Cash paid for acquisitions net of cash acquired-616,000,000-1,662,000,000
Net cash used by investing activities-591,000,000-1,621,000,000
Payments on acquisition earnouts-206,000,000-350,000,000
Proceeds from issuance of common stock91,000,0001,378,000,000
Dividends paid-359,000,000-333,000,000
Net change in fiduciary assets and liabilities841,000,000892,000,000
Borrowings on line of credit facility5,010,000,0003,000,000
Repayments on line of credit facility-3,645,000,000-3,000,000
Net borrowings of corporate related long term debt-639,000,000-199,000,000
Net cash provided by financing activities528,000,0001,317,000,000
Cash and fiduciary cash end of period9,333,000,00020,807,000,000
Repurchases of common stock-480,000,0000
Free cash flow880,000,000380,000,000
Segments
Brokerage
Total revenues7,795,000,0006,101,000,000
Earnings before income taxes1,830,000,0001,785,000,000
Net earnings attributable to controlling interests1,362,000,0001,321,000,000
Risk management
Total revenues971,000,000848,000,000
Earnings before income taxes146,000,000114,000,000
Net earnings attributable to controlling interests107,000,00084,000,000
Corporate
Total revenues-5,000,0000
Earnings before income taxes-519,000,000-553,000,000
Net earnings attributable to controlling interests-323,000,000-333,000,000

AJG trailing twelve month income statement and cash flow

Twelve months ended June 30, 2026 (derived)
Period start2025-07-01
Period end2026-06-30
Period typetrailing twelve months
Source accession10-Q
Source accessions10-K, 10-Q
Income statement
Commissions9,532,000,000
Fees4,643,000,000
Revenues before reimbursements15,582,000,000
Total revenues15,754,000,000
Total expenses13,772,000,000
Earnings before income taxes1,982,000,000
Provision for income taxes409,000,000
Net earnings1,573,000,000
Net earnings attributable to controlling interests1,568,000,000
Cash flow
Operating cash flow2,449,000,000
Capital expenditures-164,000,000
Free cash flow2,285,000,000
Dividends paid-693,000,000
Cash paid for acquisitions net of cash acquired-14,720,000,000
  • Derivation. FY2025 (10-K) plus six months ended June 30, 2026 less six months ended June 30, 2025 (both from the Q2 2026 10-Q)

Adjustments

Splits appliednone
ADR ration/a
FXnone: the company reports in US dollars

Notes

  • Sources: annual figures are from the FY2025 Form 10-K (accession 0001628280-26-008662); the quarters, the six-month year-to-date figures and the June 30, 2026 balance sheet are from the Q2 2026 Form 10-Q (accession 0001628280-26-053489). Every money figure is stated in actual US dollars; the filings print them in millions.
  • Template: Gallagher is an insurance broker and claims administrator, not an underwriter, so premiums earned, claims and a combined ratio do not apply. Its statement of earnings has no cost of revenue or gross profit line: revenues are shown by type (commissions, fees, supplemental, contingent, and interest income, premium finance revenues and other income) and expenses by nature, so the record follows that layout.
  • Reimbursements appear on both sides of the statement of earnings in equal amounts (reimbursements_revenue and reimbursements_expense), as the company presents them.
  • Fiduciary assets and fiduciary liabilities are premiums and claim funds the company holds on behalf of clients and insurers; the two lines are equal on every balance sheet and are not the company's own resources. They make up a large share of total assets (for example $37.18 billion of $81.81 billion at June 30, 2026).
  • total_debt is the debt note's 'Net corporate and other debt' (senior notes, note purchase agreements, credit agreement borrowings and the premium financing debt facility, net of unamortized debt acquisition costs and discount). It equals the sum of the balance sheet's premium financing debt and corporate related borrowings (current and noncurrent). total_debt_principal is the same debt before those costs and discount.
  • free_cash_flow is net cash provided by operating activities less capital expenditures, computed here; the company does not report it as a line in its statements.
  • Cash outflows carry a negative sign, matching the parentheses on the cash flow statement.
  • diluted_shares and basic_weighted_average_shares are the weighted average counts from the earnings per share note; common_shares_outstanding is the period-end count from the statement of stockholders' equity.
  • The 10-Q prints its cash flow statement for the six-month periods only, so the three-month quarters carry no cash flow figures; six-month cash flows are in year_to_date.
  • The trailing twelve months to June 30, 2026 are computed as FY2025 plus the six months ended June 30, 2026 less the six months ended June 30, 2025. Per-share amounts are not computed for that period.
  • The FY2025 10-K prints balance sheets for December 31, 2025 and 2024 only, so FY2023 carries no balance sheet. The Q2 2026 10-Q prints no June 30, 2025 balance sheet, so Q2 2025 carries none.
  • Segments are the company's three reportable segments: brokerage, risk management and corporate. The corporate segment carries the company's debt interest, external acquisition-related expenses and other corporate costs, which is why its pre-tax result is a loss in every period.
  • No stock split adjustment applies: the company reported no split in the periods covered.

Uncertainties

  • No three-month cash flow figures are given for Q2 2026 or Q2 2025, because the 10-Q presents cash flows for the six-month periods only.
  • Q2 2025 diluted EPS is the company's printed $1.40; dividing that quarter's printed net earnings attributable to controlling interests ($368 million) by printed diluted shares (260.4 million) gives about $1.41, a difference that reflects rounding of the inputs to millions.

Company details

NameArthur J. Gallagher & Co.
TickerAJG
CIK0000354190
ExchangeNYSE
StateIllinois
IncorporationDelaware
SIC6411
OfficeFinance
IndustryInsurance Agents, Brokers & Service

Fiscal period

Fiscal year2026
Fiscal periodQ2
TagFY26Q2
Period end2026-06-30
Form10-Q
Accession0001628280-26-053489
Fiscal year end1231
Sourcefacts

Source filings

RoleCurrentFormFiscal yearFiscal periodTagPeriod endFiledAccessionSource
annualno10-K2025FYFY252025-12-312026-02-170001628280-26-008662reported
quarterlyyes10-Q2026Q2FY26Q22026-06-302026-08-050001628280-26-053489facts

FAQ · Arthur J. Gallagher financial statements

How much revenue did Arthur J. Gallagher report in Q2 FY2026?

Arthur J. Gallagher & Co. reported total revenues of $4.00 billion for Q2 FY2026, the quarter ended June 30, 2026. That is up 24.2% from $3.22 billion in the same quarter a year earlier.

What were Arthur J. Gallagher's earnings per share in Q2 FY2026?

Arthur J. Gallagher & Co. earned $1.25 per diluted share in Q2 FY2026, against $1.40 a year earlier. Net earnings attributable to controlling interests were $324 million, down 12.0% from $368 million.

Why did Arthur J. Gallagher's earnings fall in Q2 FY2026 when revenue grew?

Arthur J. Gallagher & Co.'s interest, premium finance and other income was $98 million in Q2 FY2026, against $233 million a year earlier, when it was still earning interest on the cash raised to buy AssuredPartners. Amortization of intangibles from its acquisitions also rose, so net earnings fell even as revenue grew.

How much revenue did Arthur J. Gallagher's brokerage segment generate in Q2 FY2026?

Arthur J. Gallagher & Co.'s brokerage segment reported revenues of $3.50 billion in Q2 FY2026, up 25.7% from $2.79 billion a year earlier, helped by the AssuredPartners acquisition.

Where can I get Arthur J. Gallagher & Co. (AJG) financial data in machine-readable form?

Ticker Scout publishes Arthur J. Gallagher & Co.'s financial statements as JSON at https://tickerscout.ai/ajg/financials.json, free, with no API key and no signup. The 10-K and 10-Q narrative and the 8-K events digest are published as Markdown at https://tickerscout.ai/ajg/narrative.md and https://tickerscout.ai/ajg/events.md. Arthur J. Gallagher & Co.'s SEC CIK is 0000354190. Every figure cites the SEC accession number it came from, so it can be checked against sec.gov.

When does Arthur J. Gallagher & Co. (AJG) next file with the SEC?

Arthur J. Gallagher & Co. (AJG) is expected to file its next Form 10-Q with the SEC on or around November 9, 2026. That date is a projection rather than a company-announced date: it is derived from Arthur J. Gallagher & Co.'s own filing history with the SEC, by taking the date the company filed the same fiscal period a year earlier and adding 52 weeks. The most recent periodic report on file is the 10-Q for Q2 FY2026, the period ended 2026-06-30, SEC accession 0001628280-26-053489.

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How this page was built

This page was built from two of Arthur J. Gallagher & Co.'s own filings with the SEC, read one at a time. Nothing on it is taken from a pre-tagged dataset, a data vendor or another website. The figures are on the company's own fiscal calendar and in actual dollars, as the filings report them. Where the filings do not support a figure, the record says so instead of reporting a zero; this period names two such gaps.

A single company files thousands of pages with the SEC in a year, and no two companies file them the same way, so the reading and the assembly here are done by AI rather than by rules that break on the differences. Every pass is then audited back against the filings it came from before the page is published, and anything the filings do not support is left out and named rather than filled in. AI can still make mistakes. That is why the accession numbers are printed: the filing is the authority, and this page is a route to it.

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Built from Arthur J. Gallagher & Co.'s SEC filings by Ticker Scout; accession numbers are cited throughout so every figure can be checked against sec.gov. Free to cite with attribution: Ticker Scout (tickerscout.ai). Not investment advice, see the Disclaimer.