Arthur J. Gallagher & Co. (AJG) closed fiscal year 2025 with a gross margin of 42.6 % and a net margin of 10.7 %.
Arthur J. Gallagher & Co. (AJG) closed fiscal year 2025 with a gross margin of 42.6 % and a net margin of 10.7 %. The same year shows an EBITDA margin of 26.1 % and an EBIT margin of 18.0 %. The free cash flow margin was 12.8 %. Against the previous year the gross margin moved +0.4 pp and the net margin −1.9 pp. Across the period the gross margin ranges between 42.2 % in 2023 and 99.7 % in 2022. The series covers 18 fiscal years, from 2008 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | — | — | 96.57 % | 98.50 % | 95.57 % | 86.25 % | 77.11 % | — | 75.20 % | 73.82 % | 73.81 % | 81.20 % | 87.41 % | 85.71 % | 99.73 % | 42.16 % | 42.22 % | 42.58 % |
| EBITDA margin (%) | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 25.54 % | 21.63 % | 26.82 % | 26.05 % |
| EBIT margin (%) | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 18.52 % | 14.71 % | 19.52 % | 18.00 % |
| Net margin (%) | 4.70 % | 7.44 % | 9.34 % | 6.75 % | 7.74 % | 8.45 % | 6.56 % | 6.62 % | 6.99 % | 7.70 % | 9.14 % | 9.30 % | 11.69 % | 11.05 % | 13.03 % | 9.63 % | 12.66 % | 10.72 % |
| FCF margin (%) | 7.82 % | 10.87 % | 10.96 % | 11.15 % | 11.59 % | 8.06 % | 7.68 % | 10.89 % | 7.60 % | — | — | — | — | — | 14.12 % | 18.25 % | 21.13 % | 12.80 % |
