Arthur J. Gallagher & Co.

AJG

Financial Statements

Income Statement (Annual)

Amounts in millions

2024

12/31/2024

Revenue

11,555

Cost of Revenue

6,677

Gross Profit

4,878

Gross Margin

42.2%

Operating Income

2,282

Operating Margin

19.8%

Net Income

1,463

Net Margin

12.7%

EPS (Basic)

$6.63

EPS (Diluted)

$6.53

EBITDA

3,098

EBITDA Margin

26.8%

2023

12/31/2023

Revenue

10,072

Cost of Revenue

5,827

Gross Profit

4,245

Gross Margin

42.1%

Operating Income

1,859

Operating Margin

18.5%

Net Income

970

Net Margin

9.6%

EPS (Basic)

$4.51

EPS (Diluted)

$4.42

EBITDA

2,178

EBITDA Margin

21.6%

2022

12/31/2022

Revenue

8,551

Cost of Revenue

4,953

Gross Profit

3,597

Gross Margin

42.1%

Operating Income

1,667

Operating Margin

19.5%

Net Income

1,114

Net Margin

13.0%

EPS (Basic)

$5.30

EPS (Diluted)

$5.19

EBITDA

2,184

EBITDA Margin

25.5%

2021

12/31/2021

Revenue

8,209

Cost of Revenue

5,234

Gross Profit

2,976

Gross Margin

36.2%

Operating Income

1,337

Operating Margin

16.3%

Net Income

907

Net Margin

11.0%

EPS (Basic)

$4.47

EPS (Diluted)

$4.37

EBITDA

1,768

EBITDA Margin

21.5%

2020

12/31/2020

Revenue

7,009

Cost of Revenue

4,500

Gross Profit

2,509

Gross Margin

35.8%

Operating Income

1,040

Operating Margin

14.8%

Net Income

819

Net Margin

11.7%

EPS (Basic)

$4.29

EPS (Diluted)

$4.20

EBITDA

1,630

EBITDA Margin

23.3%

Income Statement (Annual)

Financial performance (amounts in millions)

Item	2024	2023	2022	2021	2020
Revenue	11,555	10,072	8,551	8,209	7,009
Cost of Revenue	6,677	5,827	4,953	5,234	4,500
Gross Profit	4,878	4,245	3,597	2,976	2,509
Gross Margin	42.2%	42.1%	42.1%	36.2%	35.8%
Operating Income	2,282	1,859	1,667	1,337	1,040
Operating Margin	19.8%	18.5%	19.5%	16.3%	14.8%
Net Income	1,463	970	1,114	907	819
Net Margin	12.7%	9.6%	13.0%	11.0%	11.7%
EPS (Basic)	$6.63	$4.51	$5.30	$4.47	$4.29
EPS (Diluted)	$6.53	$4.42	$5.19	$4.37	$4.20
EBITDA	3,098	2,178	2,184	1,768	1,630
EBITDA Margin	26.8%	21.6%	25.5%	21.5%	23.3%