BRO · Brown & Brown, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.90B | - | $1.61B | $1.28B | $1.40B | - | $1.19B | $1.18B | $1.26B | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | - | - | - | - | - | - | - | - | - | - |
| Total Operating Expenses | - | - | - | - | - | - | $869.00M | $832.00M | $894.00M | - |
| D&A | $17.00M | - | $14.00M | $11.00M | $11.00M | - | $11.00M | $11.00M | $11.00M | - |
| Operating Income | $533.00M | - | $311.00M | $311.00M | $427.00M | - | $317.00M | $346.00M | $364.00M | - |
| Interest Expense | $99.00M | - | $50.00M | $49.00M | $48.00M | - | - | $49.00M | $48.00M | - |
| Income Tax | $106.00M | - | $82.00M | $77.00M | $93.00M | - | $78.00M | $87.00M | $71.00M | - |
| Net Income | $426.00M | - | $227.00M | $231.00M | $331.00M | - | $234.00M | $257.00M | $293.00M | - |
| EPS - Basic | $1.27 | - | $0.68 | $0.79 | $1.16 | - | $0.82 | $0.90 | $1.03 | - |
| EPS - Diluted | $1.06 | - | $0.68 | $0.78 | $1.15 | - | $0.81 | $0.90 | $1.02 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.00B | $1.08B | $1.19B | $8.89B | $669.00M | $675.00M | $957.00M | $1.11B | $581.00M | $700.30M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $873.00M | $990.00M | $849.00M | $382.00M | $481.00M | $373.00M | $329.00M | $313.00M | $322.00M | $458.90M |
| Current Assets | $8.46B | $8.61B | $8.14B | $14.44B | $5.92B | $6.92B | $7.48B | $6.09B | $5.00B | $5.13B |
| Total Assets | $29.70B | $29.99B | $29.35B | $25.64B | $16.76B | $17.61B | $17.52B | $15.94B | $14.81B | $14.88B |
| Current Liabilities | $8.32B | $8.29B | $6.89B | $5.26B | $4.93B | $6.31B | $6.53B | $5.39B | $4.88B | $4.96B |
| Long-term Debt | $6.58B | $6.89B | $7.65B | $7.47B | $3.73B | $3.60B | $3.37B | $3.39B | $3.01B | $3.23B |
| Total Liabilities | - | - | - | - | - | - | - | - | - | - |
| Stockholders' Equity | $12.61B | $12.57B | $12.41B | $11.62B | $6.84B | $6.44B | $5.20B | $6.04B | $5.58B | $5.58B |
| Retained Earnings | $7.36B | $6.99B | $6.78B | $6.60B | $6.42B | $6.13B | $5.96B | $5.76B | $5.54B | $5.29B |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $262.00M | - | - | - | $213.00M | - | - | - | $13.00M | - |
| Investing Cash Flow | ($38.00M) | - | - | - | ($79.00M) | - | - | - | ($88.00M) | - |
| Financing Cash Flow | ($354.00M) | - | - | - | ($218.00M) | - | - | - | ($67.00M) | - |
| CapEx | $21.00M | - | - | - | $17.00M | - | - | - | $13.00M | - |
| Free Cash Flow | $241.00M | - | - | - | $196.00M | - | - | - | $0 | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | 28.0% | - | 19.4% | 24.2% | 30.4% | - | 26.7% | 29.4% | 28.9% | - |
| EBITDA margin | 28.9% | - | 20.2% | 25.1% | 31.2% | - | 27.7% | 30.3% | 29.8% | - |
| Net margin | 22.4% | - | 14.1% | 18.0% | 23.6% | - | 19.7% | 21.8% | 23.3% | - |
| Free cash flow margin | 12.7% | - | - | - | 14.0% | - | - | - | 0.0% | - |
| FCF / Net income | 0.57 | - | - | - | 0.59 | - | - | - | 0.00 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | - | - | - | - | - | - | - | - | - | - |
| Effective tax rate | 19.9% | - | 26.5% | 25.0% | 21.9% | - | 25.0% | 25.3% | 19.5% | - |
| Return on assets | 1.4% | - | 0.8% | 0.9% | 2.0% | - | 1.3% | 1.6% | 2.0% | - |
| Return on equity | 3.4% | - | 1.8% | 2.0% | 4.8% | - | 4.5% | 4.3% | 5.3% | - |
| Return on invested capital | 2.2% | - | 1.1% | 1.2% | 3.2% | - | 2.8% | 2.7% | 3.4% | - |
| Liquidity | ||||||||||
| Current ratio | 1.02 | 1.04 | 1.18 | 2.75 | 1.20 | 1.10 | 1.15 | 1.13 | 1.03 | 1.03 |
| Quick ratio | 1.02 | 1.04 | 1.18 | 2.75 | 1.20 | 1.10 | 1.15 | 1.13 | 1.03 | 1.03 |
| Cash ratio | 0.12 | 0.13 | 0.17 | 1.69 | 0.14 | 0.11 | 0.15 | 0.21 | 0.12 | 0.14 |
| Leverage | ||||||||||
| Debt / Equity | 0.52 | 0.55 | 0.62 | 0.64 | 0.55 | 0.56 | 0.65 | 0.56 | 0.54 | 0.58 |
| Debt / Assets | 0.22 | 0.23 | 0.26 | 0.29 | 0.22 | 0.20 | 0.19 | 0.21 | 0.20 | 0.22 |
| Debt / EBITDA | 11.97 | - | 23.55 | 23.20 | 8.52 | - | 10.27 | 9.50 | 8.02 | - |
| Interest coverage | 5.4x | - | 6.2x | 6.3x | 8.9x | - | - | 7.1x | 7.6x | - |
| Equity multiplier | 2.35 | 2.39 | 2.37 | 2.21 | 2.45 | 2.74 | 3.37 | 2.64 | 2.65 | 2.67 |
| Liabilities / Assets | - | - | - | - | - | - | - | - | - | - |
| Efficiency | ||||||||||
| Asset turnover | 0.06 | - | 0.05 | 0.05 | 0.08 | - | 0.07 | 0.07 | 0.08 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 61.5x | - | 137.9x | 142.1x | 108.2x | - | 127.9x | 99.3x | 85.8x | - |
| P / B | 1.7x | - | 2.5x | 2.8x | 5.2x | - | 5.7x | 4.2x | 4.4x | - |
| P / S | 11.6x | - | 19.4x | 25.3x | 25.3x | - | 24.8x | 21.5x | 19.7x | - |
| EV / EBITDA | 50.1x | - | 115.7x | 96.5x | 87.9x | - | 97.0x | 77.3x | 72.5x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 35.4% | - | 35.4% | 9.1% | 11.6% | - | 11.1% | 12.5% | 12.7% | - |
| Revenue CAGR (3y) | 19.4% | - | 20.1% | 15.2% | 15.8% | - | 15.5% | 17.4% | 15.6% | - |
| Revenue CAGR (5y) | 18.5% | - | 19.0% | 16.5% | 15.0% | - | 13.9% | 15.4% | 15.2% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 24.8% | - | -1.9% | -10.1% | 17.3% | - | 30.8% | 36.0% | 23.7% | - |
| Net income growth (YoY) | 28.7% | - | -3.0% | -10.1% | 13.0% | - | 33.0% | 35.0% | 24.4% | - |
| EPS growth (YoY) | -7.8% | - | -16.0% | -13.3% | 12.7% | - | 30.6% | 34.3% | 22.9% | - |
| EPS CAGR (3y) | 8.5% | - | 6.1% | 15.2% | 14.3% | - | 15.9% | 22.5% | 13.4% | - |
| EPS CAGR (5y) | 8.7% | - | 7.7% | 18.1% | 16.3% | - | 14.6% | 22.2% | 20.6% | - |
| FCF growth (YoY) | 23.0% | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | 16.2% | - | - | - | 62.4% | - | - | - | - | - |
| Book value growth (YoY) | 84.4% | 95.3% | 138.6% | 92.4% | 22.6% | 15.4% | 0.0% | 19.0% | 15.1% | 21.1% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$5.82B totalRetail Segment$3.41B · 58.6%
Specialty Distribution$2.41B · 41.4%
Product / service
$3.47B totalCore Commission Revenue$2.33B · 67.3%
Fee Revenue$795.00M · 22.9%
Other Supplemental Commissions Revenue$185.00M · 5.3%
Earned Premium$83.00M · 2.4%
Profit Sharing Contingent Commission Revenue$72.00M · 2.1%
Geographic
$6.75B totalUS$5.06B · 75.0%
Other International Countries$843.00M · 12.5%
GB$599.00M · 8.9%
Other Country$244.00M · 3.6%
Peer comparison
Same SIC group: Insurance Agents, Brokers & Service
Comparing BROWN & BROWN against the 5 most active filers in the same SIC group.
Dividends
$0.65/share trailing 12 months · +11.2% YoY
| Ex-date | Per share |
|---|---|
| May 11, 2026 | $0.1650 |
| Feb 4, 2026 | $0.1650 |
| Nov 5, 2025 | $0.1650 |
| Aug 13, 2025 | $0.1500 |
| May 12, 2025 | $0.1500 |
| Feb 5, 2025 | $0.1500 |
| Nov 6, 2024 | $0.1500 |
| Aug 7, 2024 | $0.1300 |
| May 3, 2024 | $0.1300 |
| Feb 1, 2024 | $0.1300 |
| Oct 31, 2023 | $0.1300 |
| Aug 8, 2023 | $0.1150 |
| May 5, 2023 | $0.1150 |
| Feb 2, 2023 | $0.1150 |
| Nov 1, 2022 | $0.1150 |
| Aug 9, 2022 | $0.1030 |
| May 6, 2022 | $0.1030 |
| Feb 3, 2022 | $0.1030 |
| Nov 2, 2021 | $0.1030 |
| Aug 10, 2021 | $0.0930 |
| May 7, 2021 | $0.0930 |
| Feb 4, 2021 | $0.0930 |
| Nov 3, 2020 | $0.0930 |
| Aug 4, 2020 | $0.0850 |