ARTHUR J. GALLAGHER & CO. FY 2025 10-K, explained in plain English
Key financials — as reported
| Total revenue | $13.9B |
| Gross margin | — not reported |
| Operating income | — not reported |
| Net income | $1.5B |
| Diluted EPS | $5.74 |
| Cash & equivalents | — not reported |
| Total assets | $70.7B |
| Long-term debt | $12.9B |
Key takeaway
Total company revenue grew 21% to $13.9 billion in 2025, primarily from the $13.8 billion AssuredPartners acquisition and the $1.2 billion Woodruff Sawyer deal.
🔒 4 more takeaways in the full analysis
Beneath the surface
The AssuredPartners deal was financed with $8.5B raised from a December 2024 stock offering plus $5B in new senior notes, meaning much of the reported debt and cash growth predates the acquisition itself, complicating year-over-year comparisons.
🔒 4 more insights a headline reader would miss
This is the free preview. The full analysis explains every line item above and includes 8 more findings — plus insider trades, activist stakes, and 8-K events for AJG.
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