Arthur J. Gallagher & Co. (AJG)
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Income Statement (Annual)

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Year FY23 FY22 FY21 FY20 FY19 FY18 FY17 FY16 FY15 FY14 FY13 FY12 FY11 FY10 FY09 FY08 FY07 FY06 FY05 FY04 FY03 FY02 FY01 FY00 FY99 FY98 FY97 FY96 FY95 FY94 FY93 FY92 FY91 FY90 FY89 FY88 FY87 FY86 FY85
Revenue 10.07B 8.55B 8.21B 7.00B 7.20B 6.93B 6.16B 5.59B 5.39B 4.63B 3.18B 2.52B 2.13B 1.86B 1.73B 1.61B 1.62B 1.53B 1.48B 1.48B 1.26B 1.10B 910.04M 699.18M 605.80M 522.10M 455.00M 456.70M 412.00M 346.90M 302.10M 272.70M 231.70M 198.20M 173.20M 156.00M 122.90M 107.80M 81.60M
Cost of Revenue 5.83B 4.95B 5.23B 4.50B 4.83B 4.98B 4.39B 3.95B 3.78B 3.23B 2.12B 1.60B 451.00M 418.60M 324.30M 391.10M 437.00M 322.40M 322.30M 277.50M 262.80M 306.95M 269.83M 214.72M 297.40M 162.90M 146.30M 138.10M 122.40M 105.10M 97.30M 86.90M n/a n/a n/a 73.50M 42.20M 35.30M 23.40M
Gross Profit 4.25B 3.60B 2.98B 2.50B 2.36B 1.95B 1.77B 1.65B 1.61B 1.40B 1.06B 915.30M 1.68B 1.45B 1.41B 1.22B 1.19B 1.21B 1.16B 1.20B 1.00B 794.27M 640.21M 484.45M 308.40M 359.20M 308.70M 318.60M 289.60M 241.80M 204.80M 185.80M 231.70M 198.20M 173.20M 82.50M 80.70M 72.50M 58.20M
Operating Income 2.70B 1.75B 1.47B 1.00B 836.50M 627.40M 533.10M 498.80M 437.10M 373.90M 326.30M 291.70M 242.40M 200.40M 243.70M 158.40M 216.10M 265.30M 213.40M 414.10M 201.30M 185.34M 162.93M 83.97M 104.20M 66.00M 47.70M 69.30M 62.90M 45.50M 37.50M 38.50M 28.70M 29.30M 28.60M 26.10M 16.90M 16.70M 17.60M
Interest Income n/a 120.60M 143.00M 120.50M 92.90M n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
Pretax Income 1.19B 1.33B 975.10M 870.90M 626.10M 479.40M 378.10M 356.90M 293.50M 267.40M 274.50M 245.30M 207.80M 203.00M 211.10M 163.60M 200.10M 153.10M -2.80M 235.50M 193.30M 185.34M 141.85M 125.39M 104.30M 84.50M 80.80M 69.40M 62.90M 53.20M 51.30M 36.10M 26.50M 27.20M 26.60M 24.00M 26.60M 25.70M 15.50M
Net Income 969.50M 1.11B 906.80M 818.80M 668.80M 633.50M 463.10M 414.40M 356.80M 303.40M 268.60M 195.00M 144.10M 174.10M 128.60M 77.30M 138.80M 128.50M 30.80M 188.50M 146.20M 129.74M 125.26M 87.78M 67.80M 56.50M 53.30M 45.80M 41.50M 34.50M 32.30M 23.50M 18.80M 17.70M 17.30M 16.90M 16.20M 15.40M 9.90M
Selling & General & Admin 1.55B 4.80B 3.93B 3.47B 3.34B 3.03B 2.75B 2.54B 2.43B 2.17B 1.69B 1.49B 1.33B 1.12B 1.08B 988.00M 911.60M 889.90M 894.80M 735.40M 758.60M 576.50M 477.28M 384.16M 188.90M 281.50M 249.90M 239.50M 218.70M 188.90M 160.90M 141.10M n/a n/a n/a 53.70M 61.70M 53.80M 39.10M
Research & Development n/a 0.16 0.12 0.13 0.09 0.07 0.06 0.06 n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
Other Expenses n/a -2.87B 1.64B 1.47B 1.54B 1.32B 1.24B 1.15B 1.17B 1.03B 731.00M 623.60M 115.20M 93.10M 85.60M 73.70M 58.60M 56.40M 53.40M 53.30M 41.10M 32.43M n/a 16.32M 15.30M 11.70M 11.10M 9.80M 8.00M 7.40M 6.40M 6.20M 203.00M 168.90M 144.60M 2.70M 2.10M 2.00M 1.50M
Operating Expenses 4.25B 1.93B 1.64B 1.47B 1.54B 1.32B 1.24B 1.15B 1.17B 1.03B 731.00M 623.60M 1.44B 1.21B 1.16B 1.06B 970.20M 946.30M 948.20M 788.70M 799.70M 608.93M 477.28M 400.48M 204.20M 293.20M 261.00M 249.30M 226.70M 196.30M 167.30M 147.30M 203.00M 168.90M 144.60M 56.40M 63.80M 55.80M 40.60M
Interest Expense 296.70M 256.90M 226.10M 196.40M 179.80M 138.40M 124.10M 109.80M 103.00M 89.00M 50.10M 43.00M 40.80M 34.60M 28.50M 28.60M n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
Selling & Marketing Expenses -4.13B n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
Cost & Expenses 6.96B 6.88B 6.87B 5.97B 6.37B 6.31B 5.63B 5.10B 4.96B 4.25B 2.85B 2.23B 1.89B 1.63B 1.49B 1.45B 1.41B 1.27B 1.27B 1.07B 1.06B 915.88M 747.11M 615.20M 501.60M 456.10M 407.30M 387.40M 349.10M 301.40M 264.60M 234.20M 203.00M 168.90M 144.60M 129.90M 106.00M 91.10M 64.00M
Income Tax 219.10M 211.00M 20.10M 12.80M -89.70M -196.50M -121.10M -88.10M -95.60M -36.00M 5.90M 50.30M 63.70M 39.70M 78.00M 52.20M 45.50M 24.60M -31.40M 47.00M 47.10M 55.60M 16.60M 37.62M 36.50M 28.00M 27.50M 23.60M 21.40M 18.70M 19.00M 12.60M 7.70M 9.50M 9.30M 7.10M 10.40M 10.30M 5.60M
Shares Outstanding (Basic) 214.90M 210.30M 202.70M 191.00M 186.00M 182.74M 180.07M 177.56M 172.24M 152.85M 128.89M 121.02M 111.67M 108.40M 100.50M 93.80M 95.72M 97.35M 94.33M 91.11M 89.81M 87.09M 84.57M 83.74M 90.48M 72.90M 72.00M 69.06M 65.23M 63.61M 73.41M 65.28M 58.75M 50.57M 50.88M 56.33M 43.78M 44.00M 35.36M
Shares Outstanding (Diluted) 219.30M 214.70M 207.30M 195.00M 190.10M 186.16M 182.12M 178.39M 173.22M 154.26M 130.47M 122.48M 112.47M 108.40M 100.63M 94.27M 97.06M 98.09M 96.10M 94.50M 93.12M 92.13M 90.14M 89.38M 95.68M 76.21M 72.00M 69.06M 69.51M 63.61M 73.41M 65.28M 58.75M 50.57M 50.88M 56.33M 43.78M 44.00M 35.36M
EPS (Basic) 4.51 5.30 4.47 4.29 3.60 3.47 2.57 2.33 2.07 1.97 2.08 1.61 1.28 1.61 1.28 0.83 1.45 1.32 0.32 2.05 1.62 1.47 1.47 1.11 0.92 0.81 0.80 0.64 0.65 0.54 0.44 0.36 0.32 0.35 0.34 0.30 0.37 0.35 0.28
EPS (Diluted) 4.42 5.19 4.37 4.20 3.52 3.40 2.54 2.32 2.06 1.97 2.06 1.59 1.28 1.61 1.28 0.82 1.43 1.31 0.32 1.99 1.57 1.41 1.39 1.04 0.87 0.77 0.80 0.64 0.61 0.54 0.44 0.36 0.32 0.35 0.34 0.30 0.37 0.35 0.28
EBITDA 2.18B 2.35B 2.04B 1.56B 1.31B 1.04B 897.20M 881.70M 811.90M 650.30M 506.60M 435.50M 357.60M 328.10M 329.30M 265.90M 281.40M 223.70M 212.10M 310.10M 249.90M 230.80M 175.45M 153.16M 119.50M 79.45M 97.20M 79.10M 70.90M 52.90M 43.90M 44.70M 28.70M 29.30M 28.60M 28.80M 19.00M 18.70M 19.10M
Depreciation & Amortization 696.50M 6.75B 6.74B 5.82B 6.24B 6.17B 5.60B 5.10B 334.20M 258.90M 178.60M 140.40M 115.20M 93.10M 85.60M 80.60M 65.30M 65.00M 60.50M 63.30M 48.60M 32.43M 20.04M 16.32M 15.30M 11.70M 11.10M 9.80M 8.00M 7.40M 6.40M 6.20M n/a n/a n/a 2.70M 2.10M 2.00M 1.50M