Q4 25 EPS
$2.38
BEAT +1.28%
Est. $2.35
Q4 25 Revenue
$3.59B
BEAT +4.83%
Est. $3.42B
vs S&P Since Q4 25
-22.1%
TRAILING MARKET
AJG -18.0% vs S&P +4.1%
Full Year 2025 Results
FY 25 EPS
$10.69
MISS 0.06%
Est. $10.70
FY 25 Revenue
$13.78B
BEAT +0.31%
Est. $13.73B
Market Reaction
Did AJG Beat Earnings? Q4 2025 Results
Arthur J. Gallagher delivered a clean beat to close out 2025, posting adjusted EPS of $2.38 against a consensus estimate of $2.35, a 1.28% beat, while revenue of $3.59 billion topped the $3.42 billion estimate by 4.83% and surged 32.0% year over year… Read more Arthur J. Gallagher delivered a clean beat to close out 2025, posting adjusted EPS of $2.38 against a consensus estimate of $2.35, a 1.28% beat, while revenue of $3.59 billion topped the $3.42 billion estimate by 4.83% and surged 32.0% year over year. The primary engine behind that top-line surge was the $13.80 billion acquisition of AssuredPartners, the largest deal in company history, which closed in August 2025 and brought roughly 10,900 employees into the fold, propelling combined Brokerage and Risk Management segment revenue growth above 30% for the quarter. Organic growth held at a healthy 5% in Q4, underscoring that the underlying business continued to perform independently of acquisition tailwinds. Adjusted EBITDAC expanded to $1.05 billion from $815.00 million a year earlier, even as integration costs and elevated interest expenses weighed on GAAP net earnings. With analysts maintaining a broadly constructive view on insurance brokers heading into 2026, CEO J. Patrick Gallagher Jr. Reinforced that optimism, declaring the company has excellent momentum and is, in his words, "just getting started."
Key Takeaways
- • Two-pronged revenue growth strategy combining organic growth and M&A drove double-digit top line growth for the 20th straight quarter
- • Combined Brokerage and Risk Management segments revenue growth exceeded 30% in Q4
- • 5% organic revenue growth in Q4, 6% for the full year
- • Brokerage segment organic change in base commissions and fees of 4% in Q4, 6% for the year
- • Risk Management segment organic change in fees of 7% in Q4, 6% for the year
- • Supplemental revenue organic growth of 12% in Q4, 20% for the year
- • Contingent revenue organic growth of 11% in Q4, 5% for the year
AJG YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
AJG Revenue by Segment
With YoY comparisons, source: SEC Filings
“We had an excellent fourth quarter and a terrific 2025!”
— J. Patrick Gallagher Jr., Q4 2025 Earnings Press Release
AJG Earnings Trends
AJG vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
AJG EPS Trend
Earnings per share: estimate vs actual
AJG Revenue Trend
Quarterly revenue: estimate vs actual
AJG Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $4.47 | — | $4.76B | -0.18% |
| Q4 25 BEAT FY | $2.35 | $2.38 | +1.28% | $3.59B | +4.83% |
| FY Full Year | $10.70 | $10.69 | -0.06% | $13.78B | +0.31% |
| Q3 25 MISS | $2.54 | $2.32 | -8.54% | $3.33B | -3.92% |
| Q2 25 MISS | $2.36 | $2.33 | -1.21% | $3.18B | -0.71% |
| Q1 25 BEAT | $3.58 | $3.67 | +2.52% | $3.73B | +0.15% |