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Arthur J. Gallagher AJG Brokerage — Incremental deferred revenue

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Other financials

Income statement

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Revenue$4.8B+27.7%
Gross profit$2.0B+16.3%
Net income$822.0M+16.8%
EPS (diluted)$3.16+16.2%

Balance sheet

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Cash & equivalents$1.4B-91.5%
Total debt$14.0B+5.7%
Total equity$23.8B+6.5%
Total assets$78.3B+5.7%

Cash flow

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Operating cash flow$957.0M+9.7%
CapEx$36.0M+28.6%
Free cash flow$921.0M+9.1%

Valuation

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Market cap$55.98B-31.7%
Enterprise value$68.58B-12.7%
P/E34.7×-17.9×
P/S3.7×-3.1×

Profitability

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Gross margin99.7%+14.0pp
Net margin10.8%-2.2pp
FCF margin21%-0.1pp

Returns & leverage

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Return on equity7%-2.3pp
Debt / equity0.6×0.0×
Current ratio1.1×-0.4×

Where this comes from

Reported directly by Arthur J. Gallagher in its filing.

Tagged under the XBRL concept ajg:ContractWithCustomerLiabilityAdditions.

The official record: Arthur J. Gallagher’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Arthur J. Gallagher's brokerage — incremental deferred revenue?
Arthur J. Gallagher (AJG) reported brokerage — incremental deferred revenue of $353M in Q1 2026.
How has Arthur J. Gallagher's brokerage — incremental deferred revenue changed year-over-year?
Arthur J. Gallagher's brokerage — incremental deferred revenue increased by 26.3% year-over-year, from $279.4M to $353M.
What is the long-term trend for Arthur J. Gallagher's brokerage — incremental deferred revenue?
Over 2 years (2021 to 2023), Arthur J. Gallagher's brokerage — incremental deferred revenue has grown at a 10.5% compound annual growth rate (CAGR), from $325M to $397.1M.
What does brokerage — incremental deferred revenue mean?
This represents the net increase in revenue that has been billed or collected but not yet earned by the brokerage segment. It reflects the growth in service obligations that the company is committed to providing in future periods, serving as a leading indicator of future revenue recognition.