Feed / AJG

Arthur J. Gallagher & Co.

AJG

Financial Services · 243.36 -0.3% today

Isolated · not yet confirmedMarket checked 10 Sept, 15:55 GMT-4

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.

Company-0.3% todayVolume comparison unavailable
Market group0 of 14 activeMixed Service Stocks · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
  • 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.

Watch this read

Research brief

The story so far

Financial Services · Insurance Brokers

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.

Evidence that supports

No thresholded supportive filing evidence is available yet.

Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • 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

As of Sep 11, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations601
Usable filing statements87
Verified relationships10
Evidence supporting the case
  • Latest annual revenue changed +20.7% year over year.
  • Capital investment and capacity has repeated favorable evidence across 4 filings.
Evidence challenging the case
  • Net margin changed -1.9 percentage points in the latest annual period.
  • Diluted shares increased 15.6% in the latest annual period.
Questions before a position
  • 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.
Longer-term price context

Price as of Sep 10, 2026

243.36
6m+16.0%12m-18.5%24m-17.6%
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$8.2B+17.2%$4.37+6.4%
2022-12-31$8.6B+4.2%$5.19+3.5%
2023-12-31$10.1B+17.8%$4.42+2.2%
2024-12-31$11.6B+14.7%$6.50+2.6%
2025-12-31$13.9B+20.7%$5.74+15.6%

What management says matters

Persistent and emerging business drivers

Capital investment and capacitypositive · 4 filings
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
Credit and interest ratespositive · 4 filings
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
Macroeconomic conditionsmixed · 2 filings
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.

Scenario scaffold

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

243.36-0.3% today

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.