Arthur J. Gallagher (AJG) FY2024 results: revenue $11.6 billion, up 14.7% on the year
Arthur J. Gallagher & Co. (AJG) reported revenue of $11.6 billion for fiscal 2024, the year ended 31 December 2024, up 14.7% on the year before. Net income was $1.5 billion, up 50.9%, and diluted earnings per share $6.50. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2025.
Revenue
$11.6 billion
+14.7% on the year
FY2017FY2024
Operating margin
16.2%
11.8% a year earlier
FY2017FY2024
Net income
$1.5 billion
+50.9% on the year
FY2017FY2024
Diluted EPS
$6.50
+47.1% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
2,583
2,032
1,390
+27.1%
Capital expenditure
142
194
183
-26.9%
Free cash flow
2,441
1,838
1,207
+32.8%
Free cash flow margin
21.1%
18.2%
14.1%
Cash from investing
-1,587
-3,293
-1,005
Cash from financing
13,053
2,874
213
+354.2%
Depreciation and amortisation
842
696
600
+20.9%
Share-based compensation
42.0
31.0
24.4
+35.5%
Dividends paid
525
474
430
+10.9%
Dividend per share
$2.40
$2.20
$2.04
+9.1%
Diluted shares, weighted
220m
215m
210m
+2.6%
Shares outstanding at period end
250m
217m
212m
+15.4%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
20,154
10,775
9,144
+87.0%
Non-controlling interest
26.0
40.0
46.6
-35.0%
Debt
13,157
7,965
6,465
+65.2%
Operating lease liabilities
328
352
300
-6.8%
Other liabilities
30,590
32,483
22,403
-5.8%
Total liabilities and equity
64,255
51,616
38,358
+24.5%
Fixed assets
650
726
576
-10.5%
Goodwill
12,270
11,476
9,489
+6.9%
Intangible assets
4,530
4,633
3,372
-2.2%
Cash and equivalents
14,987
972
738
+1,442.7%
Receivables
3,896
3,787
2,911
+2.9%
Other assets
27,921
30,022
21,271
-7.0%
Total assets
64,255
51,616
38,358
+24.5%
10-K for the year ended 31 December 2024, filed 18 February 2025: the filing.