--- title: "Arthur J. Gallagher &: Business Model" description: "Arthur J. Gallagher & Co. revenue by business segment and geography from its fiscal 2025 Form 10-K, with each part's share, growth and profitability explained." canonical: https://www.getswoopr.com/stocks/companies/arthur-j-gallagher-and-co/business-model/ source: "Swoopr Investment: https://www.getswoopr.com" --- # Arthur J. Gallagher & Co.: Business Model & Revenue Engine ## Direct Answer Arthur J. Gallagher & Co. reports revenue across 3 business segments in its fiscal 2025 Form 10-K. Brokerage is the largest, with $12.2 billion of revenue (87% of the total), followed by Risk Management at $1.7 billion (13%). 67% of revenue came from the United States. ## How Does Arthur J. Gallagher & Co. Make Money? Brokerage supplies 87% of revenue, so Arthur J. Gallagher & Co.'s results move mostly with that one business; the others matter more for diversification than for the headline number. Between fiscal 2024 and 2025, Brokerage grew fastest (+22.7%) and Corporate slowest (-93.8%), so the revenue mix tilts toward Brokerage while that gap lasts. | Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change | | --- | --- | --- | --- | --- | | Brokerage | $12.2 billion | $9.9 billion | 87.4% | 22.7% | | Risk Management | $1.7 billion | $1.6 billion | 12.5% | 9.0% | | Corporate | $1 million | $16 million | 0.0% | -93.8% | ![Bar chart of Arthur J. Gallagher & Co. revenue by segment for fiscal 2025: Brokerage 87.4%, Risk Management 12.5%, Corporate 0.0%.](https://www.getswoopr.com/images/charts/arthur-j-gallagher-and-co-business-model-segment-mix.webp) *Arthur J. Gallagher & Co. revenue by segment as a share of total revenue, from the table above. The largest is highlighted. Select the chart to open it full size.* ## Where Does Arthur J. Gallagher & Co.'s Revenue Come From? Regions follow the definitions in the filing; most companies assign revenue by customer location. | Region | FY2025 revenue | FY2024 revenue | Share of revenue | Change | | --- | --- | --- | --- | --- | | United States | $9.4 billion | $7.4 billion | 67.4% | 26.4% | | United Kingdom | $2.5 billion | $2.2 billion | 17.8% | 11.3% | | Other Foreign | $886 million | $701 million | 6.4% | 26.4% | | Australia | $586 million | $575 million | 4.2% | 1.9% | | Canada | $395 million | $416 million | 2.8% | -5.0% | | New Zealand | $207 million | $210 million | 1.5% | -1.4% | ## What the Segment Figures Do Not Show The rows above add up to 100% of Arthur J. Gallagher & Co.'s reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin. ## Where These Numbers Come From Every figure on this page is a value Arthur J. Gallagher & Co. reported in the segment note and revenue disclosures of its Form 10-K filed February 17, 2026 (accession 0001628280-26-008662), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading. Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation. ## Frequently Asked Questions ### What are Arthur J. Gallagher & Co.'s business segments? In its fiscal 2025 Form 10-K, Arthur J. Gallagher & Co. reports revenue for Brokerage, Risk Management and Corporate. ### Which part of Arthur J. Gallagher & Co. brings in the most revenue? Brokerage, with $12.2 billion of revenue in fiscal 2025, or 87% of the total. ### How much of Arthur J. Gallagher & Co.'s revenue comes from outside the United States? 33% in fiscal 2025, by the geographic breakdown Arthur J. Gallagher & Co. reports in its Form 10-K. Companies assign revenue to regions differently (customer location, shipping address or selling entity), so check the filing's definition before comparing companies. ## References - [SEC EDGAR: Arthur J. Gallagher & Co. Form 10-K filed February 17, 2026](https://www.sec.gov/Archives/edgar/data/354190/000162828026008662/ajg-20251231.htm) - [SEC EDGAR: Arthur J. Gallagher & Co. annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=354190&type=10-K) - [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces) - [SEC: Financial Statement Data Sets](https://www.sec.gov/data-research/sec-markets-data/financial-statement-data-sets) ## Related Pages - [Arthur J. Gallagher & Co. company dossier](https://www.getswoopr.com/stocks/companies/arthur-j-gallagher-and-co/) - [Arthur J. Gallagher & Co. financial metrics](https://www.getswoopr.com/stocks/companies/arthur-j-gallagher-and-co/metrics/) - [Arthur J. Gallagher & Co. financial risk indicators](https://www.getswoopr.com/stocks/companies/arthur-j-gallagher-and-co/risks/) - [Arthur J. Gallagher & Co. peer comparison](https://www.getswoopr.com/stocks/companies/arthur-j-gallagher-and-co/competitors/) - [Arthur J. Gallagher & Co. business model and revenue mix](https://www.getswoopr.com/stocks/companies/arthur-j-gallagher-and-co/business-model/) - [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/) **[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)** Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. We do not provide personalized financial advice. See our [editorial policy](https://www.getswoopr.com/legal/editorial-policy/) and [corrections policy](https://www.getswoopr.com/legal/corrections-policy/).