“Capital expenditures increased in 2026 compared to 2025 primarily due to an increase in acquisition integration related expenditures, differences in the period over period timing of expenditures related to investments in information technology, and by the mov…”10-Q · Aug 5, 2026 ↗
Arthur J. Gallagher & Co.
AJG
Market read
Arthur J. Gallagher & Co.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 14 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 11 directly disclosed connections are confirming.
- Interest expense increased in the latest three-month period as borrowings under the Credit Agreement rose, partly offset by Note Purchase Agreement paydowns.
- Higher borrowing under Gallagher's Credit Agreement increased interest expense in the latest three-month period, adding pressure to margins.
Invalidation: The isolated read changes if AJG's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 14 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 11 directly disclosed connections are confirming.
No thresholded supportive filing evidence is available yet.
No thresholded adverse filing evidence is available yet.
- Interest expense increased in the latest three-month period as borrowings under the Credit Agreement rose, partly offset by Note Purchase Agreement paydowns.
- Higher borrowing under Gallagher's Credit Agreement increased interest expense in the latest three-month period, adding pressure to margins.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- Latest annual revenue changed +20.7% year over year.
- Capital investment and capacity has repeated favorable evidence across 4 filings.
- Net margin changed -1.9 percentage points in the latest annual period.
- Diluted shares increased 15.6% in the latest annual period.
- P/E is 101% above the available filing-peer median; determine whether growth and quality justify the difference.
- EV/sales is 74% above the available filing-peer median; determine whether growth and quality justify the difference.
Price as of Sep 10, 2026
243.36Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“Interest expense - The interest expense for the three and six-month periods ended June 30, 2026 increased compared to the same periods in 2025 primarily due to an increase in borrowings outstanding under the Credit Agreement, partially offset by the paydowns…”10-Q · Aug 5, 2026 ↗
“We believe increases in property/casualty rates will continue for the remainder of 2025 due to rising loss costs, increased frequency of natural catastrophe and weather related losses, prior year reserve volatility and social inflation.”10-Q · Nov 10, 2025 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 4.5× · EV/sales 5.4×. Comparisons use only industry-matched filing peers.
Scenarios are withheld for Financial Services until sector-specific earnings and capital metrics are available; generic revenue/P/S scaffolds would be misleading.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for AJG. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for AJG. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind AJG
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
COOTFiling-linked namesupplierAug 1, 2025 ▾
“The Credit Agreement provided for a five-year unsecured revolving credit facility in the amount of $1,200.0 million (including a $75.0 million letter of credit sub-facility), which was also available in Pounds Sterling, Canadian Dollars, Australian Dollars, N…”
Depended on by
DARDarling Ingredients Inc.partnerMay 8, 2026 ▾
“Additionally, in November 2022 the DGD Joint Venture completed the construction of the DGD Port Arthur Plant, with a capacity to produce 470 million gallons per year of renewable diesel and 20 million gallons per year of renewable naphtha and having similar l…”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 16 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
AJG is currently a Follower in the organic co-movement group Mixed Service Stocks. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 2 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.