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AJGArthur J. Gallagher & Co.

Financials · Insurance Brokers · NYSE
Employees
72,000
Headquarters
Rolling Meadows, IL
CEO
J. Patrick Gallagher Jr
Next results
around Jan 28, 2027
Compare with peers → Embed

Dilution: new shares, stock pay and buybacks

prospectuses (S-3, 424B) of the last three years and the 10-K cash flow From EDGAR

Shares offered

Since Nov 11, 2023: 2 shelf registrations.

“We may from time to time offer to sell our debt securities, guarantees of debt securities, common stock or preferred stock, either separately or represented by warrants, depositary shares or purchase contracts, as well as units that include any of these securities or securities of other entities.”

S-3ASR, Feb 12, 2024 ↗
Every offering filing →

Paid in stock

$49.0M

stock-based pay, year to Dec 31, 2025; shares sold for $1.5B in cash

Bought back

-

no buyback line in the 10-K XBRL, year to Dec 31, 2025

Diluted shares: 256.10M in the year to Dec 31, 2025 2025 +16.1%2024 +2.6%2023 +2.2%2022 +3.7%

Change in the diluted weighted average share count from the fiscal year before, stock splits taken out. Bars use one scale for stock pay and buybacks. Prospectuses are read from their cover page; preliminary ones are left out. Cash & buybacks, year by year → · How

No cash flow chart for banks and insurers: their operating cash flow moves with loans, deposits and trading, so it says little about how cash was spent.

Buybacks, year to Dec 31, 2025
-
cash paid for its own shares
Paid in stock to employees
$49.0M
stock-based compensation
Share count, 1 year
+16.1%
more shares: owners are diluted
Share count, 3 years
+21.8%
diluted average shares
Fiscal year toBuybacksDividendsStock payShares issued for cashDiluted shares
2025-12-31- $667.0M$49.0M $1.5B256.10M
2024-12-31- $525.0M$42.0M $8.5B220.50M
2023-12-31- $474.0M$31.0M $120.0M214.90M
2022-12-31- $429.5M$24.4M $123.1M210.30M
2021-12-31- $392.0M$13.4M $1.5B202.70M

From the XBRL of the 10-Ks (cash flow statement and diluted weighted average shares); each year as reported in the latest 10-K that includes it. Concepts: dividends = PaymentsOfDividendsCommonStock; sbc = ShareBasedCompensation; issuance = ProceedsFromIssuanceOfCommonStock; diluted_shares = WeightedAverageNumberOfSharesOutstandingBasic.

Work on AJG in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/AJG/export.csv") into a cell.