Arthur J. Gallagher (AJG) FY2021 results: revenue $8.2 billion, up 17.2% on the year
Arthur J. Gallagher & Co. (AJG) reported revenue of $8.2 billion for fiscal 2021, the year ended 31 December 2021, up 17.2% on the year before. Net income was $907 million, up 10.7%, and diluted earnings per share $4.37. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2022.
Revenue
$8.2 billion
+17.2% on the year
FY2014FY2021
Operating margin
11.9%
12.4% a year earlier
FY2014FY2021
Net income
$907 million
+10.7% on the year
FY2014FY2021
Diluted EPS
$4.37
+4.0% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
1,392
1,807
1,191
-22.9%
Capital expenditure
129
99.3
139
+29.5%
Free cash flow
1,264
1,708
1,052
-26.0%
Free cash flow margin
15.4%
24.4%
14.6%
Cash from investing
-3,432
-471
-1,448
Cash from financing
2,996
-505
638
Depreciation and amortisation
566
562
474
+0.7%
Share-based compensation
13.4
13.6
14.0
-1.5%
Dividends paid
392
347
321
+12.8%
Dividend per share
$1.92
$1.80
$1.72
+6.7%
Diluted shares, weighted
203m
191m
186m
+6.1%
Shares outstanding at period end
208m
194m
188m
+7.6%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
8,508
6,186
5,156
+37.5%
Non-controlling interest
51.7
46.5
60.0
+11.2%
Debt
6,284
4,545
4,607
+38.3%
Operating lease liabilities
309
321
341
-3.6%
Other liabilities
18,083
11,233
9,472
+61.0%
Total liabilities and equity
33,236
22,331
19,635
+48.8%
Fixed assets
501
451
467
+11.1%
Goodwill
8,666
6,127
5,618
+41.4%
Intangible assets
3,954
2,400
2,319
+64.8%
Cash and equivalents
403
665
605
-39.4%
Other assets
19,712
12,689
10,625
+55.3%
Total assets
33,236
22,331
19,635
+48.8%
10-K for the year ended 31 December 2021, filed 18 February 2022: the filing.