Arthur J. Gallagher (AJG) FY2022 results: revenue $8.6 billion, up 4.2% on the year
Arthur J. Gallagher & Co. (AJG) reported revenue of $8.6 billion for fiscal 2022, the year ended 31 December 2022, up 4.2% on the year before. Net income was $1.1 billion, up 22.9%, and diluted earnings per share $5.19. The figures are the company's own, from the 10-K it filed with the SEC on 10 February 2023.
Revenue
$8.6 billion
+4.2% on the year
FY2015FY2022
Operating margin
15.5%
11.9% a year earlier
FY2015FY2022
Net income
$1.1 billion
+22.9% on the year
FY2015FY2022
Diluted EPS
$5.19
+18.8% on the year
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
1,390
1,392
1,807
-0.2%
Capital expenditure
183
129
99.3
+42.1%
Free cash flow
1,207
1,264
1,708
-4.5%
Free cash flow margin
14.1%
15.4%
24.4%
Cash from investing
-1,005
-3,432
-471
Cash from financing
213
2,996
-505
-92.9%
Depreciation and amortisation
600
566
562
+5.9%
Share-based compensation
24.4
13.4
13.6
+82.1%
Dividends paid
430
392
347
+9.6%
Dividend per share
$2.04
$1.92
$1.80
+6.3%
Diluted shares, weighted
210m
203m
191m
+3.7%
Shares outstanding at period end
212m
208m
194m
+1.6%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
9,144
8,508
6,186
+7.5%
Non-controlling interest
46.6
51.7
46.5
-9.9%
Debt
6,465
6,284
4,545
+2.9%
Operating lease liabilities
300
309
321
-2.9%
Other liabilities
22,403
18,083
11,233
+23.9%
Total liabilities and equity
38,358
33,236
22,331
+15.4%
Fixed assets
576
501
451
+15.1%
Goodwill
9,489
8,666
6,127
+9.5%
Intangible assets
3,372
3,954
2,400
-14.7%
Cash and equivalents
738
403
665
+83.4%
Receivables
2,911
n/a
n/a
Other assets
21,271
19,712
12,689
+7.9%
Total assets
38,358
33,236
22,331
+15.4%
10-K for the year ended 31 December 2022, filed 10 February 2023: the filing.