Brown & Brown, Inc. (BRO)
Brown & Brown, Inc. markets and sells insurance products and services in the United States, the United Kingdom, and internationally. It operates through Retail and Specialty Distribution segments. The Retail segment provides property and casualty insurance products, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control surveys and analysis, consulting, and claims processing services. This segment also offers non-insurance services and products through automobile and recreational vehicle dealer services businesses. It serves commercial, public and quasi-public entities, professionals, and individual customers. The Specialty Distribution segment comprises wholesale brokerage and specialty businesses. This segment offers professional liability and related package insurance products for dentistry, legal, eyecare, financial services, physicians, and real estate title professionals, as well as supplementary insurance products related to weddings, events, medical facilities, and cyber liabilities. This segment also provides public entity-related and specialty programs through a network of independent agents, as well as program management services for insurance carrier partners. In addition, the company's wholesale brokerage businesses underwrite and place excess and surplus commercial and personal lines insurance through independent agents and brokers. Its program businesses operate under the Arrowhead Programs name. The company was formerly known as Poe & Brown, Inc. and changed its name to Brown & Brown, Inc. in April 1999. Brown & Brown, Inc. was founded in 1939 and is headquartered in Daytona Beach, Florida.
- Symbol
- BRO
- Exchange
- NYSE
- Sector
- Financial Services
- Industry
- Insurance Brokers
- Market cap
- $19.77B
- 52 week range
- 53.81 - 96.55
Valuation
- Share price
- $59.91 (close of 2026-10-02)
- P/E (TTM)
- 16.88x
- Price to book
- 1.57x
- Price to free cash flow
- 13.67x
- Enterprise value
- $26.86B
- Book value per share
- $38.21
Price performance
| Period | Change |
|---|---|
| 1 day | -3.01% |
| 5 days | -1.50% |
| 1 month | -16.84% |
| 3 months | -14.41% |
| 6 months | -9.16% |
| Year to date | -24.83% |
| 1 year | -35.89% |
| 3 years | -13.82% |
| 5 years | +4.01% |
| 10 years | +217.82% |
| All time | +33183.33% |
Members of Congress who disclosed BRO trades
April McClain Delaney · Byron Donalds · Lisa McClain · Jared Moskowitz · Dan Newhouse · Gilbert Ray Cisneros · Val Hoyle · Alan Armstrong · Robert Bresnahan · Tommy Tuberville
Super investors holding BRO
First Eagle Investment (First Eagle Investment Management, LLC) · Francois Rochon (Giverny Capital Inc) · Ken Griffin (Citadel) · Ray Dalio (Bridgewater Associates)
Profitability and growth
- Return on equity
- 8.38%
- Return on assets
- 3.51%
- Net margin
- 17.86%
- EBITDA margin
- 23.94%
- Revenue growth
- 22.83%
- Net income growth
- 6.14%
- Free cash flow growth
- 26.56%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 7.31%
- Current ratio
- 1.13x
- Net debt to EBITDA
- 2.87x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $5.90B
- EBITDA
- $1.41B
- Net income
- $1.05B
- Earnings per share
- $3.37
- Shares outstanding
- 310.00M
Income statement by year
| Period end | Revenue | Net income | EPS |
|---|---|---|---|
| 2025-12-31 | $5.90B | $1.05B | $3.37 |
| 2024-12-31 | $4.80B | $993.00M | $3.48 |
| 2023-12-31 | $4.26B | $871.00M | $3.07 |
| 2022-12-31 | $3.57B | $672.00M | $2.38 |
| 2021-12-31 | $3.05B | $587.10M | $2.08 |
| 2020-12-31 | $2.61B | $480.50M | $1.70 |
| 2019-12-31 | $2.39B | $398.51M | $1.42 |
| 2018-12-31 | $2.01B | $344.25M | $1.24 |
| 2017-12-31 | $1.88B | $399.63M | $1.43 |
| 2016-12-31 | $1.77B | $257.49M | $0.92 |
Margins and returns by year
| Period end | Net margin | Return on equity |
|---|---|---|
| 2025-12-31 | 17.86% | 8.38% |
| 2024-12-31 | 20.67% | 15.43% |
| 2023-12-31 | 20.46% | 15.61% |
| 2022-12-31 | 18.81% | 14.59% |
| 2021-12-31 | 19.24% | 13.99% |
| 2020-12-31 | 18.39% | 12.80% |
| 2019-12-31 | 16.66% | 11.89% |
| 2018-12-31 | 17.09% | 11.47% |
| 2017-12-31 | 21.24% | 15.47% |
| 2016-12-31 | 14.58% | 10.91% |
Cash and debt by year
| Period end | Cash | Debt |
|---|---|---|
| 2025-12-31 | $1.08B | $6.89B |
| 2024-12-31 | $685.00M | $3.60B |
| 2023-12-31 | $711.00M | $3.23B |
| 2022-12-31 | $662.00M | $3.69B |
| 2021-12-31 | $706.10M | $1.98B |
| 2020-12-31 | $674.53M | $2.03B |
| 2019-12-31 | $554.50M | $1.50B |
| 2019-01-01 | $451.83M | $1.46B |
| 2018-12-31 | $451.83M | $1.46B |
| 2017-12-31 | $598.35M | $856.14M |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|---|---|
| 2025-12-31 | $1.38B | $93.00M |
| 2024-12-31 | $1.09B | $101.00M |
| 2023-12-31 | $941.00M | $89.00M |
| 2022-12-31 | $829.00M | $66.00M |
| 2021-12-31 | $763.80M | $61.00M |
| 2020-12-31 | $642.30M | $59.70M |
| 2019-12-31 | $605.07M | $46.99M |
| 2018-12-31 | $526.01M | $33.52M |
| 2017-12-31 | $417.78M | $30.63M |
| 2016-12-31 | $393.28M | $16.05M |
Dividend history
- Most recent payment
- 2026-08-12
- Paid in the last twelve months
- $0.66
| Payment date | Dividend per share |
|---|---|
| 2026-08-12 | $0.17 |
| 2026-05-11 | $0.17 |
| 2026-02-04 | $0.17 |
| 2025-11-05 | $0.17 |
| 2025-08-13 | $0.15 |
| 2025-05-12 | $0.15 |
| 2025-02-05 | $0.15 |
| 2024-11-06 | $0.15 |
Investor relations
Next earnings report
- Next confirmed report
- 2026-10-26
- Consensus EPS estimate
- $1.09
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|---|---|
| 2026-07-27 | Jun/2026 | $1.08 |
| 2026-04-27 | Mar/2026 | $1.36 |
| 2026-01-26 | Dec/2025 | $0.91 |
| 2025-10-27 | Sep/2025 | $0.90 |
| 2025-07-28 | Jun/2025 | $0.99 |
| 2025-07-21 | - | - |
| 2025-04-28 | Mar/2025 | $1.30 |
| 2025-04-21 | - | - |
Filings and sources
- Company website
- bbrown.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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Understanding these figures
Price-to-earnings ratio · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart
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