What is Brown & Brown, Inc.'s earnings per share (EPS)?

Brown & Brown, Inc. (BRO) reported diluted earnings per share of $3.16 for fiscal year 2025. This represents a -8.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Brown & Brown, Inc. (BRO) Financials

BRO

Trailing 12 months to June 30, 2026

Revenue $6.8B +34.2% YoY

Net Income $1.2B +20.0% YoY

EPS (Diluted) $3.17 -8.6% YoY

Free Cash Flow $1.4B +14.4% YoY

Market Cap $20.4B as of Oct 6, 2026

Price / Sales 3.0x on $6.8B revenue, trailing 12 months to June 30, 2026

Price / Earnings 16.9x on $1.2B net income, trailing 12 months to June 30, 2026

Price / Book 1.6x on $12.6B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 6, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Jul 27, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Jul 27, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BRO SEC filings page.

Brown & Brown, Inc. (BRO) reported $6.8B in revenue over the twelve months to Jun 30, 2026, up 34.2% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI BRO FY2025 2026-10-03

Brown & Brown converts revenue into cash efficiently, but FY2025’s balance-sheet expansion diluted returns as goodwill and financing surged.

Total assets expanded 70.3% while goodwill grew 89.3%, pointing to a much larger acquisition and intangible base than the revenue engine alone would imply. Revenue grew 22.8%, yet return on assets fell to 3.5%, showing that the enlarged asset base produced less accounting return.

Operating cash flow reached $1.45B versus free cash flow of $1.38B, a narrow gap indicating that routine capital spending absorbed little cash. With capital expenditures at $68M, the $7.91B investing outflow points to expansion spending beyond ordinary asset maintenance.

The $7.71B financing inflow alongside $6.89B of long-term debt indicates that the balance-sheet expansion relied heavily on external funding rather than annual cash generation alone. Debt-to-equity remained about 0.5x while the current ratio stayed near 1.0x, meaning leverage was contained by rising equity but the short-term liquidity cushion remained narrow.

Financial Health Signals

Financial health score not available

Brown & Brown, Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

3/8

Brown & Brown, Inc. passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.38x

For every $1 of reported earnings, Brown & Brown, Inc. generates $1.38 in operating cash flow ($1.4B OCF vs $1.1B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$1.7B

YoY+30.4%

QoQ-11.8%

5Y CAGR+18.2%

10Y CAGR+14.1%

Brown & Brown, Inc. generated $1.7B in revenue in Q2 2026. This represents an increase of 30.4% from the same quarter a year earlier. Against the prior quarter it is down 11.8%.

Net Income

$288.0M

YoY+24.7%

QoQ-32.4%

5Y CAGR+15.6%

10Y CAGR+15.8%

Brown & Brown, Inc. reported $288.0M in net income in Q2 2026. This represents an increase of 24.7% from the same quarter a year earlier. Against the prior quarter it is down 32.4%.

EPS (Diluted)

$0.84

YoY+7.7%

QoQ-20.8%

5Y CAGR+11.4%

10Y CAGR+68.0%

Brown & Brown, Inc. earned $0.84 per diluted share (EPS) in Q2 2026. This represents an increase of 7.7% from the same quarter a year earlier. Against the prior quarter it is down 20.8%.

EBITDA

Not reported for Q2 2026.

Cash & Balance Sheet

Free Cash Flow

$329.0M

YoY+6.1%

QoQ+36.5%

5Y CAGR+7.6%

10Y CAGR+7.9%

Brown & Brown, Inc. generated $329.0M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 6.1% from the same quarter a year earlier. Against the prior quarter it is up 36.5%.

Cash & Debt

$918.0M

YoY-89.7%

QoQ-8.5%

5Y CAGR+8.0%

10Y CAGR+7.3%

Brown & Brown, Inc. held $918.0M in cash against $7.3B in long-term debt as of Q2 2026.

Dividends Per Share

$0.17

YoY+10.0%

QoQ0.0%

Brown & Brown, Inc. paid $0.17 per share in dividends in Q2 2026. This represents an increase of 10.0% from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

335M

YoY+1.4%

QoQ-1.3%

5Y CAGR+3.5%

10Y CAGR+9.1%

Brown & Brown, Inc. had 335M shares outstanding in Q2 2026. This represents an increase of 1.4% from the same quarter a year earlier. Against the prior quarter it is down 1.3%.

Margins & Returns

Net Margin

17.2%

YoY-0.8pp

QoQ-5.2pp

5Y change-2.0pp

10Y change+2.3pp

Brown & Brown, Inc.'s net profit margin was 17.2% in Q2 2026, showing the share of revenue converted to profit. This is down 0.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 5.2 percentage points.

Return on Equity

2.3%

YoY+0.3pp

QoQ-1.1pp

5Y change-1.2pp

10Y change-0.7pp

Brown & Brown, Inc.'s ROE was 2.3% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 0.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.1 percentage points.

Gross Margin

Not reported for Q2 2026.

Operating Margin

Not reported for Q2 2026.

Capital Allocation

Share Buybacks

$250.0M

QoQ0.0%

Brown & Brown, Inc. spent $250.0M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. It is unchanged from the prior quarter.

Capital Expenditures

$17.0M

YoY+13.3%

QoQ-19.0%

5Y CAGR+4.4%

10Y CAGR+13.7%

Brown & Brown, Inc. invested $17.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 13.3% from the same quarter a year earlier. Against the prior quarter it is down 19.0%.

R&D Spending

Not reported for Q2 2026.

BRO Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

BRO quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$6.8B	$5.9B+22.8%	$4.8B+12.9%	$4.3B+19.1%	$3.6B+17.1%	$3.1B+16.8%	$2.6B+9.2%	$2.4B+18.8%	$2.0B+7.1%	$1.9B+6.5%	$1.8B+6.4%	$1.7B+5.4%	$1.6B+15.6%	$1.4B+13.6%	$1.2B+18.4%	$1.0B
Interest Expense	$399.0M	$297.0M+53.9%	$193.0M+1.6%	$190.0M+34.6%	$141.2M+117.2%	$65.0M+10.2%	$59.0M-7.3%	$63.7M+56.9%	$40.6M+5.9%	$38.3M-3.0%	$39.5M+0.6%	$39.2M+38.2%	$28.4M+72.8%	$16.4M+2.1%	$16.1M+13.9%	$14.1M
Income Tax	$334.0M	$304.0M+1.0%	$301.0M+9.5%	$275.0M+34.8%	$204.0M+16.1%	$175.7M+22.4%	$143.6M+12.7%	$127.4M+7.8%	$118.2M+136.0%	$50.1M-69.8%	$166.0M+4.2%	$159.2M+19.9%	$132.9M-5.4%	$140.5M+16.3%	$120.8M+13.4%	$106.5M
Net Income	$1.2B	$1.1B+6.1%	$993.0M+14.0%	$871.0M+29.6%	$672.0M+14.5%	$587.1M+22.2%	$480.5M+20.6%	$398.5M+15.8%	$344.3M-13.9%	$399.6M+55.2%	$257.5M+5.8%	$243.3M+17.6%	$206.9M-4.7%	$217.1M+18.0%	$184.0M+12.2%	$164.0M
EPS (Basic)	N/A	$3.37-3.2%	$3.48+13.4%	$3.07+29.0%	$2.38+14.4%	$2.08+22.4%	$1.70+19.7%	$1.42+14.5%	$1.24-13.3%	$1.43+55.4%	$0.92-46.5%	$1.72+20.3%	$1.43-4.7%	$1.50+17.2%	$1.28+11.3%	$1.15
EPS (Diluted)	$3.17	$3.16-8.7%	$3.46+13.4%	$3.05+28.7%	$2.37+14.5%	$2.07+22.5%	$1.69+20.7%	$1.40+14.8%	$1.22	$1.40+53.8%	$0.91	$1.70+20.6%	$1.41-4.7%	$1.48+17.5%	$1.26+11.5%	$1.13
Diluted Shares (Avg)	N/A	313M+10.2%	284M+1.1%	281M+0.7%	279M+0.6%	277M+0.6%	276M+100331.1%	274,616-99.9%	276M	278M+0.7%	276M	140M-1.9%	143M+0.2%	143M+0.4%	142M+1.2%	140M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$1.7B+30.4%	$1.9B+35.4%	$1.6B+35.8%	$1.6B+35.4%	$1.3B+9.1%	$1.4B+11.6%	$1.2B+15.3%	$1.2B+11.0%
Interest Expense	$100.0M+96.1%	$99.0M+115.2%	$100.0M+117.4%	$100.0M+100.0%	$51.0M+4.1%	$46.0M-4.2%	$46.0M-3.2%	$50.0M+5.3%
Income Tax	$94.0M+22.1%	$106.0M+14.0%	$52.0M-20.0%	$82.0M+5.1%	$77.0M-11.5%	$93.0M+31.0%	$65.0M-25.3%	$78.0M+18.2%
Net Income	$288.0M+24.7%	$426.0M+28.7%	$265.0M+26.8%	$227.0M-3.0%	$231.0M-10.1%	$331.0M+13.0%	$209.0M-22.3%	$234.0M+33.0%
EPS (Basic)	$0.86+8.9%	$1.27+9.5%	$0.78+6.8%	$0.68-17.1%	$0.79-12.2%	$1.16+12.6%	$0.73-23.2%	$0.82+32.3%
EPS (Diluted)	$0.84+7.7%	$1.06-7.8%	$0.59	$0.68-16.0%	$0.78-13.3%	$1.15+12.7%	$0.73-22.3%	$0.81+30.6%
Diluted Shares (Avg)	334M+14.0%	337M+18.2%	N/A	332M+16.9%	293M+3.5%	285M+0.7%	N/A	284M+1.1%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA.

BRO Balance Sheet

BRO quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$30.0B+70.3%	$17.6B+18.3%	$14.9B+6.5%	$14.0B+42.7%	$9.8B+9.2%	$9.0B+17.6%	$7.6B+14.0%	$6.7B+16.4%	$5.7B+9.2%	$5.3B+5.7%	$5.0B+0.5%	$5.0B+35.8%	$3.6B+16.7%	$3.1B+20.0%	$2.6B
Current Assets	$8.6B+24.4%	$6.9B+35.0%	$5.1B+2.7%	$5.0B+50.0%	$3.3B+12.6%	$3.0B+18.6%	$2.5B+15.1%	$2.2B-3.3%	$2.2B+29.1%	$1.7B+12.9%	$1.5B-2.1%	$1.6B+69.2%	$928.0M+22.2%	$759.5M+7.3%	$708.1M
Cash & Equivalents	$1.1B+59.9%	$675.0M-3.6%	$700.0M+7.7%	$650.0M-6.2%	$693.2M+5.6%	$656.2M+21.0%	$542.2M+23.5%	$439.0M-23.4%	$573.4M+11.2%	$515.6M+16.3%	$443.4M-5.7%	$470.0M0.0%	$470.0M+131.6%	$203.0M-29.1%	$286.3M
Short-Term Investments	$0-100.0%	$10.0M-9.1%	$11.0M-8.3%	$12.0M-7.0%	$12.9M-29.6%	$18.3M+48.7%	$12.3M-4.2%	$12.9M-48.5%	$25.0M+65.9%	$15.0M+9.6%	$13.7M+23.1%	$11.2M+5.0%	$10.6M+29.8%	$8.2M+7.3%	$7.6M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0-100.0%	$16K-96.9%	$516K
Goodwill	$15.1B+89.3%	$8.0B+8.6%	$7.3B+10.0%	$6.7B+40.9%	$4.7B+7.8%	$4.4B+17.3%	$3.7B+9.1%	$3.4B+26.4%	$2.7B+1.5%	$2.7B+3.4%	$2.6B+5.1%	$2.5B+22.7%	$2.0B+17.2%	$1.7B+29.3%	$1.3B
Total Liabilities	$17.4B+55.9%	$11.2B+20.1%	$9.3B-0.7%	$9.4B+67.3%	$5.6B+7.4%	$5.2B+22.0%	$4.3B+15.8%	$3.7B+16.5%	$3.2B+9.0%	$2.9B+2.6%	$2.8B-0.4%	$2.8B+73.1%	$1.6B+24.4%	$1.3B+37.1%	$963.0M
Current Liabilities	$8.3B+31.4%	$6.3B+27.4%	$5.0B+7.8%	$4.6B+72.3%	$2.7B+13.3%	$2.4B+15.1%	$2.0B+14.7%	$1.8B-10.3%	$2.0B+37.5%	$1.4B+8.8%	$1.3B+4.7%	$1.3B+39.9%	$906.9M+59.7%	$567.8M+17.9%	$481.6M
Non-Current Liabilities	$9.1B+87.7%	$4.9B+11.8%	$4.3B-8.8%	$4.8B+62.7%	$2.9B+2.6%	$2.9B+28.3%	$2.2B+16.9%	$1.9B+61.8%	$1.2B-19.2%	$1.5B-2.9%	$1.5B-4.6%	$1.6B+113.9%	$735.5M-2.3%	$752.9M+56.4%	$481.4M
Long-Term Debt	$6.9B+91.6%	$3.6B+11.5%	$3.2B-12.6%	$3.7B+86.4%	$2.0B-2.2%	$2.0B+35.0%	$1.5B+3.0%	$1.5B+70.2%	$856.1M-15.9%	$1.0B-5.0%	$1.1B-7.0%	$1.2B+203.4%	$380.0M-15.6%	$450.0M+80.0%	$250.0M
Total Equity	$12.6B+95.3%	$6.4B+15.4%	$5.6B+21.1%	$4.6B+9.8%	$4.2B+11.8%	$3.8B+12.1%	$3.4B+11.7%	$3.0B+16.2%	$2.6B+9.4%	$2.4B+9.8%	$2.1B+1.7%	$2.1B+5.3%	$2.0B+11.1%	$1.8B+9.9%	$1.6B
Retained Earnings	$7.0B+14.1%	$6.1B+15.9%	$5.3B+16.2%	$4.6B+13.8%	$4.0B+13.6%	$3.5B+12.1%	$3.1B+10.8%	$2.8B+15.3%	$2.5B+15.1%	$2.1B+9.6%	$1.9B+10.1%	$1.8B+9.1%	$1.6B+11.2%	$1.5B+10.2%	$1.3B

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$29.9B+16.6%	$29.7B+77.2%	$30.0B+70.3%	$29.4B+67.5%	$25.6B+60.8%	$16.8B+13.2%	$17.6B+18.3%	$17.5B+25.3%
Current Assets	$8.7B-39.8%	$8.5B+42.9%	$8.6B+24.4%	$8.1B+8.9%	$14.4B+137.2%	$5.9B+18.2%	$6.9B+35.0%	$7.5B+54.4%
Cash & Equivalents	$918.0M-89.7%	$1.0B+49.9%	$1.1B+59.9%	$1.2B+24.3%	$8.9B+703.3%	$669.0M+15.1%	$675.0M-3.6%	$957.0M+26.6%
Short-Term Investments	$0	$0	$0-100.0%	$0-100.0%	$0-100.0%	$0-100.0%	$10.0M-9.1%	$11.0M-16.7%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$15.1B+81.1%	$15.1B+85.9%	$15.1B+89.3%	$14.9B+96.5%	$8.4B+12.6%	$8.1B+9.8%	$8.0B+8.6%	$7.6B+10.7%
Total Liabilities	$17.3B+23.3%	$17.1B+72.3%	$17.4B+55.9%	$16.9B+53.4%	$14.0B+41.5%	$9.9B+10.0%	$11.2B+20.1%	$11.0B+25.7%
Current Liabilities	$7.7B+46.7%	$8.3B+68.7%	$8.3B+31.4%	$6.9B+5.6%	$5.3B-2.5%	$4.9B+1.0%	$6.3B+27.4%	$6.5B+42.1%
Non-Current Liabilities	$9.6B+9.2%	$8.8B+75.8%	$9.1B+87.7%	$10.1B+122.5%	$8.8B+94.0%	$5.0B+20.5%	$4.9B+11.8%	$4.5B+7.8%
Long-Term Debt	$7.3B-1.7%	$6.6B+76.5%	$6.9B+91.6%	$7.7B+127.3%	$7.5B+120.3%	$3.7B+24.0%	$3.6B+11.5%	$3.4B+7.1%
Total Equity	$12.6B+8.5%	$12.6B+84.4%	$12.6B+95.3%	$12.4B+91.5%	$11.6B+92.4%	$6.8B+18.2%	$6.4B+15.4%	$6.5B+24.6%
Retained Earnings	$7.6B+14.9%	$7.4B+14.7%	$7.0B+14.1%	$6.8B+13.8%	$6.6B+14.6%	$6.4B+15.7%	$6.1B+15.9%	$6.0B+17.9%

Not reported in any period shown, so not listed: Inventory, Accounts Receivable.

BRO Cash Flow Statement

BRO quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$1.5B	$1.4B+23.5%	$1.2B+16.2%	$1.0B+14.6%	$881.0M+8.9%	$808.8M+13.4%	$713.0M+5.1%	$678.2M+19.5%	$567.5M+28.4%	$442.0M+7.5%	$411.0M+7.6%	$381.8M-0.8%	$385.0M-1.1%	$389.4M+76.7%	$220.3M-7.2%	$237.5M
Depreciation & Amortization	N/A	$55.0M+25.0%	$44.0M+10.0%	$40.0M+2.6%	$39.0M+17.1%	$33.3M+26.6%	$26.3M+12.3%	$23.4M+2.6%	$22.8M+0.6%	$22.7M+8.1%	$21.0M+0.5%	$20.9M0.0%	$20.9M+19.5%	$17.5M+13.7%	$15.4M+24.1%	$12.4M
Stock-Based Compensation	N/A	$93.0M-7.9%	$101.0M+13.5%	$89.0M+34.8%	$66.0M+8.2%	$61.0M+2.2%	$59.7M+27.0%	$47.0M+40.2%	$33.5M+9.4%	$30.6M+90.8%	$16.1M+3.5%	$15.5M-19.9%	$19.4M-14.3%	$22.6M+42.5%	$15.9M+41.7%	$11.2M
Capital Expenditures	$74.0M	$68.0M-17.1%	$82.0M+18.8%	$69.0M+32.7%	$52.0M+15.6%	$45.0M-36.4%	$70.7M-3.3%	$73.1M+76.1%	$41.5M+71.6%	$24.2M+36.2%	$17.8M-3.3%	$18.4M-26.3%	$24.9M+52.3%	$16.4M-31.9%	$24.0M+76.6%	$13.6M
Free Cash Flow	$1.4B	$1.4B+26.6%	$1.1B+16.0%	$941.0M+13.5%	$829.0M+8.5%	$763.8M+18.9%	$642.3M+6.2%	$605.1M+15.0%	$526.0M+25.9%	$417.8M+6.2%	$393.3M+8.2%	$363.5M+0.9%	$360.1M-3.5%	$373.0M+90.0%	$196.3M-12.3%	$223.9M
Investing Cash Flow	-$7.8B	-$7.9B-781.3%	-$898.0M-53.0%	-$587.0M+69.3%	-$1.9B-382.1%	-$396.8M+47.7%	-$759.1M-83.5%	-$413.6M+56.5%	-$951.8M-1420.6%	-$62.6M	N/A	N/A	N/A	-$380.6M+12.6%	-$435.5M-147.8%	-$175.7M
Financing Cash Flow	-$794.0M	$7.7B+12151.6%	-$64.0M+65.8%	-$187.0M-110.8%	$1.7B+921.5%	-$210.1M-159.2%	$355.0M+548.1%	-$79.2M-123.5%	$337.8M+200.3%	-$336.6M	N/A	N/A	N/A	-$25.6M-117.2%	$148.7M+406.7%	-$48.5M
Dividends Paid	$219.0M	$193.0M+25.3%	$154.0M+14.1%	$135.0M+12.5%	$120.0M+11.9%	$107.2M+6.6%	$100.6M+10.1%	$91.3M+7.9%	$84.7M+9.0%	$77.7M+10.6%	$70.3M+9.6%	$64.1M+8.0%	$59.3M+10.8%	$53.5M+8.1%	$49.5M+6.5%	$46.5M
Share Buybacks	N/A	$100.0M	$0	$0-100.0%	$74.0M-10.4%	$82.6M+49.9%	$55.1M-6.1%	$58.7M-35.7%	$91.3M-29.1%	$128.6M+580.3%	$18.9M-88.5%	$163.8M+118.3%	$75.0M	$0	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$346.0M+6.5%	$262.0M+23.0%	$444.0M+23.0%	$468.0M+6.4%	$325.0M-9.7%	$213.0M+1538.5%	$361.0M+18.0%	$440.0M+39.2%
Depreciation & Amortization	$18.0M+63.6%	$17.0M+54.5%	$18.0M+63.6%	$14.0M+27.3%	$11.0M0.0%	$11.0M0.0%	$11.0M+10.0%	$11.0M+10.0%
Stock-Based Compensation	N/A	$26.0M-10.3%	N/A	N/A	N/A	$29.0M0.0%	N/A	N/A
Capital Expenditures	$17.0M+13.3%	$21.0M+23.5%	$20.0M0.0%	$16.0M-30.4%	$15.0M-42.3%	$17.0M+30.8%	$20.0M-35.5%	$23.0M+66.7%
Free Cash Flow	$329.0M+6.1%	$241.0M+23.0%	$424.0M+24.3%	$452.0M+8.4%	$310.0M-7.2%	$196.0M	$341.0M+24.0%	$417.0M+38.0%
Investing Cash Flow	-$33.0M+69.4%	-$38.0M+51.9%	-$213.0M+72.7%	-$7.5B-17790.5%	-$108.0M-1081.8%	-$79.0M+10.2%	-$779.0M-97.7%	-$42.0M+28.8%
Financing Cash Flow	-$172.0M-102.1%	-$354.0M-62.4%	-$138.0M-149.8%	-$130.0M+81.8%	$8.2B+1755.0%	-$218.0M-225.4%	$277.0M+214.8%	-$716.0M-224.0%
Dividends Paid	$55.0M+27.9%	$57.0M+32.6%	$56.0M+30.2%	$51.0M+41.7%	$43.0M+16.2%	$43.0M+13.2%	$43.0M+16.2%	$36.0M+9.1%
Share Buybacks	$250.0M	$250.0M	N/A	N/A	$0	$0	N/A	N/A

BRO Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

BRO quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Net Margin	17.9%-2.8pp	20.7%+0.2pp	20.5%+1.7pp	18.8%-0.4pp	19.2%+0.8pp	18.4%+1.7pp	16.7%-0.4pp	17.1%-4.2pp	21.2%+6.7pp	14.6%-0.1pp	14.6%+1.5pp	13.1%-2.8pp	15.9%+0.6pp	15.3%-0.8pp	16.2%
Return on Equity	8.4%-7.0pp	15.4%-0.2pp	15.6%+1.0pp	14.6%+0.6pp	14.0%+1.2pp	12.8%+0.9pp	11.9%+0.4pp	11.5%-4.0pp	15.5%+4.6pp	10.9%-0.4pp	11.3%+1.5pp	9.8%-1.0pp	10.8%+0.6pp	10.2%+0.2pp	10.0%
Return on Assets	3.5%-2.1pp	5.6%-0.2pp	5.9%+1.0pp	4.8%-1.2pp	6.0%+0.6pp	5.4%+0.1pp	5.2%+0.1pp	5.1%-1.8pp	7.0%+2.1pp	4.9%0.0pp	4.9%+0.7pp	4.2%-1.8pp	5.9%+0.1pp	5.9%-0.4pp	6.3%
Current Ratio	1.04-0.1x	1.10+0.1x	1.04-0.1x	1.09-0.2x	1.250.0x	1.260.0x	1.220.0x	1.22+0.1x	1.13-0.1x	1.200.0x	1.16-0.1x	1.24+0.2x	1.02-0.3x	1.34-0.1x	1.47
Debt-to-Equity	0.550.0x	0.560.0x	0.58-0.2x	0.80+0.3x	0.47-0.1x	0.54+0.1x	0.450.0x	0.49+0.2x	0.33-0.1x	0.43-0.1x	0.500.0x	0.55+0.4x	0.19-0.1x	0.25+0.1x	0.15
Asset Turnover	0.20-0.1x	0.270.0x	0.290.0x	0.26-0.1x	0.310.0x	0.290.0x	0.310.0x	0.300.0x	0.330.0x	0.340.0x	0.330.0x	0.32-0.1x	0.370.0x	0.380.0x	0.39
FCF Margin	23.4%+0.7pp	22.7%+0.6pp	22.1%-1.1pp	23.2%-1.8pp	25.0%+0.5pp	24.6%-0.7pp	25.3%-0.8pp	26.1%+3.9pp	22.2%-0.1pp	22.3%+0.4pp	21.9%-1.0pp	22.9%-4.5pp	27.4%+11.0pp	16.4%-5.7pp	22.1%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Net Margin	17.2%-0.8pp	22.4%-1.2pp	16.5%-1.2pp	14.1%-5.6pp	18.0%-3.8pp	23.6%+0.3pp	17.7%-8.5pp	19.7%+3.3pp
Return on Equity	2.3%+0.3pp	3.4%-1.5pp	2.1%-1.1pp	1.8%-1.8pp	2.0%-2.3pp	4.8%-0.2pp	3.3%-1.6pp	3.6%+0.2pp
Return on Assets	1.0%+0.1pp	1.4%-0.5pp	0.9%-0.3pp	0.8%-0.6pp	0.9%-0.7pp	2.0%0.0pp	1.2%-0.6pp	1.3%+0.1pp
Current Ratio	1.13-1.6x	1.02-0.2x	1.04-0.1x	1.180.0x	2.75+1.6x	1.20+0.2x	1.10+0.1x	1.15+0.1x
Debt-to-Equity	0.58-0.1x	0.520.0x	0.550.0x	0.62+0.1x	0.64+0.1x	0.550.0x	0.560.0x	0.52-0.1x
Asset Turnover	0.060.0x	0.060.0x	0.050.0x	0.050.0x	0.050.0x	0.080.0x	0.070.0x	0.070.0x
FCF Margin	19.6%-4.5pp	12.7%-1.3pp	26.4%-2.5pp	28.1%-7.0pp	24.1%-4.2pp	14.0%+14.0pp	28.8%+2.0pp	35.2%+6.9pp

Not reported in any period shown, so not listed: Gross Margin, Operating Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Brown & Brown, Inc. BRO	FY2025	$5.9B	$1.1B	17.9%	$20.4B	—
Willis Towers Watson Public Limited Company WTW	FY2025	$9.7B	$1.6B	16.5%	$26.8B	16/100
Arthur J. Gallagher & Co. AJG	FY2025	$13.9B	$1.5B	10.7%	$58.0B	27/100
Erie Indemnity Co ERIE	FY2025	$4.1B	$559.3M	13.8%	$11.6B	29/100
Marsh & McLennan Companies, Inc. MMC	FY2025	$27.0B	$4.2B	15.4%	$89.5B	28/100
Aon plc AON	FY2025	$17.2B	$3.7B	21.5%	$57.2B	18/100

Where Brown & Brown, Inc. Ranks

Frequently Asked Questions

What is Brown & Brown, Inc.'s annual revenue?

Brown & Brown, Inc. (BRO) reported $5.9B in total revenue for fiscal year 2025. This represents a 22.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Brown & Brown, Inc.'s revenue growing?

Brown & Brown, Inc. (BRO) revenue grew by 22.8% year-over-year, from $4.8B to $5.9B in fiscal year 2025.

Is Brown & Brown, Inc. profitable?

Yes, Brown & Brown, Inc. (BRO) reported a net income of $1.1B in fiscal year 2025, with a net profit margin of 17.9%.

How much debt does Brown & Brown, Inc. have?

As of fiscal year 2025, Brown & Brown, Inc. (BRO) had $1.1B in cash and equivalents against $6.9B in long-term debt.

What is Brown & Brown, Inc.'s net profit margin?

Brown & Brown, Inc. (BRO) had a net profit margin of 17.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Brown & Brown, Inc. pay dividends?

Yes, Brown & Brown, Inc. (BRO) paid $0.62 per share in dividends during fiscal year 2025.

What is Brown & Brown, Inc.'s return on equity (ROE)?

Brown & Brown, Inc. (BRO) has a return on equity of 8.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Brown & Brown, Inc.'s free cash flow?

Brown & Brown, Inc. (BRO) generated $1.4B in free cash flow during fiscal year 2025. This represents a 26.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Brown & Brown, Inc.'s operating cash flow?

Brown & Brown, Inc. (BRO) generated $1.4B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Brown & Brown, Inc.'s total assets?

Brown & Brown, Inc. (BRO) had $30.0B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Brown & Brown, Inc.'s capital expenditures?

Brown & Brown, Inc. (BRO) invested $68.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Brown & Brown, Inc. buy back shares?

Yes, Brown & Brown, Inc. (BRO) spent $100.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Brown & Brown, Inc. have outstanding?

Brown & Brown, Inc. (BRO) had 340M shares outstanding as of fiscal year 2025.

What is Brown & Brown, Inc.'s current ratio?

Brown & Brown, Inc. (BRO) had a current ratio of 1.04 as of fiscal year 2025, which is considered adequate.

What is Brown & Brown, Inc.'s debt-to-equity ratio?

Brown & Brown, Inc. (BRO) had a debt-to-equity ratio of 0.55 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Brown & Brown, Inc.'s return on assets (ROA)?

Brown & Brown, Inc. (BRO) had a return on assets of 3.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Brown & Brown, Inc.'s P/E ratio?

Brown & Brown, Inc. (BRO) trades at 16.9x earnings, its market capitalization divided by net income of $1.2B net income, trailing 12 months to June 30, 2026. The market capitalization is $20.4B as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Brown & Brown, Inc.'s price-to-sales ratio?

Brown & Brown, Inc. (BRO) trades at 3.0x sales, its market capitalization divided by revenue of $6.8B revenue, trailing 12 months to June 30, 2026. The market capitalization is $20.4B as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Brown & Brown, Inc.'s Piotroski F-Score?

Brown & Brown, Inc. (BRO) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Brown & Brown, Inc.'s earnings high quality?

Brown & Brown, Inc. (BRO) has an earnings quality ratio of 1.38x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.