Arthur J. Gallagher (AJG) Operating Expenses (2009 - 2026)

Arthur J. Gallagher (AJG) posted Operating Expenses of $643.0 million for Q1 2026, down 93.86% on a QoQ basis from $10.5 billion in Q4 2025, and up 31.22% year-over-year from $490.0 million in Q1 2025.

Arthur J. Gallagher (AJG) Operating Expenses (2009 - 2026) Analysis & Trends

Arthur J. Gallagher's Operating Expenses history runs 18 years deep, the most recent figure standing at $643.0 million for Q1 2026.

  • Quarterly Operating Expenses rose 31.22% year-over-year to $643.0 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $12.2 billion (up 225.26% YoY) and the FY2025 annual result came in at $12.1 billion, up 588.2% from the prior year.
  • Operating Expenses was $643.0 million for Q1 2026 at Arthur J. Gallagher, down from $10.5 billion in the prior quarter.
  • Across five years, Operating Expenses topped out at $10.5 billion in Q4 2025 and bottomed at $323.9 million in Q2 2022.
  • A 5-year average of $1.6 billion and a median of $580.8 million in 2025 frame the typical range for Operating Expenses.
  • Annual changes were most pronounced in 2024 — Operating Expenses tumbled 82.54% — and 2025, when it soared 2287.36%.
  • Arthur J. Gallagher's Operating Expenses stood at $368.2 million in 2022, then surged by 582.86% to $2.5 billion in 2023, then tumbled by 82.54% to $439.0 million in 2024, then surged by 2287.36% to $10.5 billion in 2025, then tumbled by 93.86% to $643.0 million in 2026.
  • Business Quant data shows AJG's Operating Expenses at $643.0 million in Q1 2026, $10.5 billion in Q4 2025, and $580.8 million in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Marsh & Mclennan Companies 84.27 Bn 72.32 Bn 6.04 Bn 5.51 Bn
2 Aon 75.99 Bn 74.60 Bn - 3.32 Bn
3 Arthur J. Gallagher 62.23 Bn 60.85 Bn - 643.00 Mn
4 Willis Towers Watson 27.24 Bn 25.46 Bn 1.98 Bn 1.96 Bn
5 Brown & Brown 23.60 Bn 22.62 Bn 1.61 Bn 1.37 Bn
6 Neptune Insurance Holdings 4.12 Bn 4.11 Bn 26.44 Mn 24.35 Mn
7 Accelerant Holdings 3.06 Bn 1.55 Bn 48.00 Mn 271.30 Mn
8 Corvel 3.03 Bn 2.68 Bn 54.92 Mn 22.68 Mn
9 Baldwin Insurance 2.43 Bn 2.87 Bn - 633.50 Mn
10 Goosehead Insurance 1.31 Bn 1.20 Bn - 86.80 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 643.00 Mn
Dec 31, 2025 10.48 Bn
Sep 30, 2025 580.80 Mn
Jun 30, 2025 519.30 Mn
Mar 31, 2025 490.00 Mn
Dec 31, 2024 439.00 Mn
Sep 30, 2024 2.40 Bn
Jun 30, 2024 425.60 Mn
Mar 31, 2024 435.70 Mn
Dec 31, 2023 2.51 Bn
Sep 30, 2023 2.13 Bn
Jun 30, 2023 2.14 Bn
Mar 31, 2023 382.50 Mn
Dec 31, 2022 368.20 Mn
Sep 30, 2022 1.73 Bn
Jun 30, 2022 323.90 Mn
Mar 31, 2022 1.90 Bn
Dec 31, 2021 320.30 Mn
Sep 30, 2021 265.60 Mn
Jun 30, 2021 253.40 Mn