BROWN & BROWN, INC. BRO
Last close
71.42
2026-09-04
Market cap
$23.90B
2026-06-30 share count
52-week range
53.81 - 96.55
Valuation FY2025 figures against the last close
P/S4.0x
P/E22.6x
P/FCF17.3x
EV/EBITDA—
Dividend yield0.8%
Diluted EPS3.16
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.90B | $4.80B | $4.26B | $3.57B | $3.05B | $2.61B | $2.39B | $2.01B | $1.88B | $1.77B |
| Total operating expenses | — | — | $3.11B | $2.70B | $2.29B | $1.99B | $1.87B | $1.55B | $1.43B | $1.34B |
| Interest expense | $297.0M | $193.0M | $190.0M | $141.0M | $65.0M | $59.0M | $63.7M | $40.6M | $38.3M | $39.5M |
| Pre-tax income | $1.37B | $1.30B | $1.15B | $876.0M | $762.8M | $624.1M | $525.9M | $462.5M | $449.7M | $423.5M |
| Income tax | $304.0M | $301.0M | $275.0M | $204.0M | $175.7M | $143.6M | $127.4M | $118.2M | $50.1M | $166.0M |
| Net income | $1.05B | $993.0M | $871.0M | $672.0M | $587.1M | $480.5M | $398.5M | $344.3M | $399.6M | $257.5M |
| EPS, basic | 3.37 | 3.48 | 3.07 | 2.38 | 2.08 | 1.70 | 1.42 | 1.24 | 1.43 | 0.92 |
| EPS, diluted | 3.16 | 3.46 | 3.05 | 2.37 | 2.07 | 1.69 | 1.40 | 1.22 | 1.40 | 0.91 |
| Shares, diluted (wtd. avg.) | $313.0M | $284.0M | $281.0M | $279.0M | $277.4M | $275.8M | $274.6K | $275.5M | $277.6M | $275.6M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.08B | $675.0M | $700.0M | $2.03B | $1.47B | $1.27B | $963.0M | $777.6M | $824.1M | $781.3M |
| Short-term investments | — | $10.0M | $11.0M | $12.0M | $12.9M | $18.3M | $12.3M | $12.9M | $25.0M | $15.0M |
| Total current assets | $8.61B | $6.92B | $5.13B | $5.00B | $3.33B | $2.96B | $2.49B | $2.17B | $2.24B | $1.74B |
| Property, plant and equipment | $367.0M | $319.0M | $270.0M | $239.9M | $212.0M | $201.1M | $148.6M | $100.4M | $77.1M | $75.8M |
| Goodwill | $15.09B | $7.97B | $7.34B | $6.67B | $4.74B | $4.40B | $3.75B | $3.43B | $2.72B | $2.68B |
| Other intangibles | $4.91B | $1.81B | $1.62B | $1.60B | $1.08B | $1.05B | $916.8M | $898.8M | $641.0M | $707.5M |
| Total assets | $29.99B | $17.61B | $14.88B | $13.97B | $9.80B | $8.97B | $7.62B | $6.69B | $5.75B | $5.26B |
| Accounts payable | $990.0M | $373.0M | $459.0M | $286.5M | $242.7M | $190.5M | $100.0M | $87.3M | $64.2M | $69.6M |
| Short-term debt | $719.0M | $225.0M | $569.0M | $250.6M | $42.5M | $70.0M | $55.0M | $50.0M | $120.0M | $55.5M |
| Total current liabilities | $8.29B | $6.31B | $4.96B | $4.60B | $2.67B | $2.35B | $2.05B | $1.78B | $1.99B | $1.45B |
| Long-term debt | $6.89B | $3.60B | $3.23B | $3.69B | $1.98B | $2.03B | $1.50B | $1.46B | $856.1M | $1.02B |
| Total liabilities | — | — | — | — | — | — | — | $3.69B | — | — |
| Retained earnings | $6.99B | $6.13B | $5.29B | $4.55B | $4.00B | $3.52B | $3.14B | $2.83B | $2.46B | $2.13B |
| Total equity | $12.57B | $6.44B | $5.58B | $4.61B | $4.20B | $3.75B | $3.35B | $3.00B | $2.58B | $2.36B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.45B | $1.17B | $1.01B | $881.0M | $808.8M | $713.0M | $678.2M | $567.5M | $442.0M | $411.0M |
| Depreciation and amortisation | $55.0M | $44.0M | $40.0M | $39.0M | $33.3M | $26.3M | $23.4M | $22.8M | $22.7M | $21.0M |
| Stock-based compensation | $93.0M | $101.0M | $89.0M | $66.0M | $61.0M | $59.7M | $47.0M | $33.5M | $30.6M | $16.1M |
| Capital expenditure | $68.0M | $82.0M | $69.0M | $52.0M | $45.0M | $70.7M | $73.1M | $41.5M | $24.2M | $17.8M |
| Investing cash flow | -$7.91B | -$898.0M | -$587.0M | -$1.91B | -$396.8M | -$759.1M | -$413.6M | -$951.8M | -$62.6M | -$142.4M |
| Financing cash flow | $7.71B | -$64.0M | -$187.0M | $1.73B | -$210.1M | $355.0M | -$79.2M | $337.8M | -$336.6M | -$160.5M |
| Dividends paid | $193.0M | $154.0M | $135.0M | $120.0M | $107.2M | $100.6M | $91.3M | $84.7M | $77.7M | $70.3M |
| Buybacks | $100.0M | $0 | $0 | $74.0M | $82.6M | $55.1M | $58.7M | $91.2M | $128.6M | $18.9M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-046984.
Others in SIC 6411
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| MRSH | MARSH & MCLENNAN COMPANIES, INC. | $88.64B | 22.0x | 10.3% |
| AON | Aon plc | $68.54B | 19.0x | 9.4% |
| AJG | Arthur J. Gallagher & Co. | $67.33B | 45.8x | 20.7% |
| WTW | WILLIS TOWERS WATSON PLC | $31.09B | 20.6x | -2.3% |
| EQH | Equitable Holdings, Inc. | $14.46B | — | -6.1% |
| ACT | Enact Holdings, Inc. | $6.77B | 10.9x | 2.8% |
| NP | Neptune Insurance Holdings Inc. | $4.58B | — | 33.7% |
| ARX | Accelerant Holdings | $4.34B | — | 51.5% |