BRO

Updated: Mar 12, 2026 11:30 AM

Brown & Brown Inc

Market Cap: $27.44B P/S: 17x Ownership — Insider: 13.0% | Institutional: 81.0% | Retail: 6.0% FINANCIAL SERVICES INSURANCE BROKERS

Brown & Brown, Inc. is a prominent insurance brokerage firm headquartered in Daytona Beach, Florida, providing a wide array of insurance products and services across domestic and international markets, including Bermuda, Canada, and the UK. Leveraging a robust network of independent agents, the company prioritizes innovation to deliver tailored insurance solutions that address diverse client needs in a dynamic market landscape. With a strategic emphasis on growth through acquisitions and a track record of strong operational performance, Brown & Brown is well-positioned to maintain its leadership role and capitalize on opportunities within the competitive insurance sector.

Revenue

Revenue, Profit & Income — explained by Jerry the Goat Farmer
Total RevenueEvery single dollar that wanders onto Jerry's farm. Cheese sales, milk money, goat yoga memberships, and that one weird guy who pays $50 to just watch the goats. Jerry doesn't ask questions.
Gross ProfitThe money left after feeding the goats but before reality sets in. Jerry feels rich for exactly 11 minutes.
Net IncomeWhat Jerry actually gets to keep after the Jerrynment, cousin Larry, the feed store, and his ex-wife's lawyer all take their cut. This number is often... humbling.
Using alias: revenuea -> totalRevenue [annual] [income]
Using alias: profita -> grossProfit [annual] [income]
Using alias: incomea -> netIncome [annual] [income]


Data Completeness:
------------------------------------------------------------
  ✅ totalRevenue                        20/20 dates (100%)
  ✅ grossProfit                         20/20 dates (100%)
  ✅ netIncome                           20/20 dates (100%)

Plot for BRO (in B)
  reports: annualReports
  showing last 25 entries
  Legend: totalRevenue, grossProfit, netIncome

               0.00B                     1.18B                     2.35B                     3.53B                     4.71B
               |                         |                         |                         |                         |

  2005-12-31 |  0.79B
  2006-12-31 |  0.88B
  2007-12-31 |  0.96B
  2008-12-31 |  0.98B
  2009-12-31 |  0.97B
  2010-12-31 |  0.97B
  2011-12-31 |  1.01B
  2012-12-31 |  1.19B
  2013-12-31 |  1.36B
  2014-12-31 |  1.57B
  2015-12-31 |  1.66B
  2016-12-31 |  1.76B
  2017-12-31 |  1.86B
  2018-12-31 |  2.01B
  2019-12-31 |  2.38B
  2020-12-31 |  2.61B
  2021-12-31 |  3.05B
  2022-12-31 |  3.57B
  2023-12-31 |  4.26B
  2024-12-31 |  4.71B

               |                         |                         |                         |                         |
               0.00B                     1.18B                     2.35B                     3.53B                     4.71B

Costs

Operating Costs — explained by Jerry the Goat Farmer
Cost of Goods & Services SoldThe unglamorous stuff: hay, feed, vet bills for when Sergio the goat eats another iPhone. These goats don't feed themselves, and they definitely don't apologize.
Selling, General & AdministrativeThe "CHEESE HAPPENS" billboard on the highway, the accountant (cousin Larry, who definitely cheated in Monopoly as a kid), office supplies, and the therapy Jerry needs after dealing with cousin Larry.
Research & DevelopmentJerry's experimental ghost pepper goat cheese that made three customers cry. Also the goat treadmill. The goats refuse to use the goat treadmill.
Using alias: rnda -> researchAndDevelopment [annual] [income]
Using alias: sgaa -> sellingGeneralAndAdministrative [annual] [income]
Using alias: cogsa -> costofGoodsAndServicesSold [annual] [income]


Data Completeness:
------------------------------------------------------------
  ⚠️  researchAndDevelopment              14/20 dates (70%)
  ✅ sellingGeneralAndAdministrative     20/20 dates (100%)
  ✅ costofGoodsAndServicesSold          20/20 dates (100%)

Plot for BRO (in B)
  reports: annualReports
  showing last 25 entries
  Legend: researchAndDevelopment, sellingGeneralAndAdministrative, costofGoodsAndServicesSold

               0.00B                     0.71B                     1.42B                     2.13B                     2.84B
               |                         |                         |                         |                         |

  2005-12-31 |  0.37B ⊗
  2006-12-31 |  0.53B ⊗
  2007-12-31 |  0.58B ⊗
  2008-12-31 |  0.62B ⊗
  2009-12-31 |  0.63B ⊗
  2010-12-31 |  0.49B
  2011-12-31 |  0.51B
  2012-12-31 |  0.61B
  2013-12-31 |  0.68B
  2014-12-31 |  0.81B
  2015-12-31 |  0.86B
  2016-12-31 |  1.20B
  2017-12-31 |  1.31B
  2018-12-31 |  1.43B
  2019-12-31 |  1.68B
  2020-12-31 |  1.80B
  2021-12-31 |  2.08B
  2022-12-31 |  1.82B
  2023-12-31 |  2.84B
  2024-12-31 |  2.41B ⊗

               |                         |                         |                         |                         |
               0.00B                     0.71B                     1.42B                     2.13B                     2.84B

Cash

Cash, Debt & Cash Flow — explained by Jerry the Goat Farmer
Cash & Short-Term InvestmentsThe coffee can buried behind the barn, $47 in a savings account, and some cryptocurrency Jerry bought drunk in 2021. He's afraid to check on it.
Short/Long-Term DebtThe barn loan that'll follow Jerry to the grave (long-term) and the $200 he owes the feed store guy who's starting to give him looks (short-term).
Operating Cash FlowReal cash moving in and out. Not "my customer promised to pay me" money. Actual dollars. Jerry has trust issues now.
Using alias: casha -> cashAndShortTermInvestments [annual] [balance]
Using alias: debta -> shortLongTermDebtTotal [annual] [balance]
Using alias: paychecka -> operatingCashflow [annual] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ cashAndShortTermInvestments         20/20 dates (100%)
  ✅ shortLongTermDebtTotal              20/20 dates (100%)
  ✅ operatingCashflow                   20/20 dates (100%)

Plot for BRO (in B)
  reports: annualReports
  showing last 25 entries
  Legend: cashAndShortTermInvestments, shortLongTermDebtTotal, operatingCashflow

               0.00B                     1.05B                     2.09B                     3.14B                     4.18B
               |                         |                         |                         |                         |

  2005-12-31 |  0.27B
  2006-12-31 |  0.24B
  2007-12-31 |  0.24B
  2008-12-31 |  0.34B
  2009-12-31 |  0.27B
  2010-12-31 |  0.30B
  2011-12-31 |  0.29B
  2012-12-31 |  0.45B
  2013-12-31 |  0.48B
  2014-12-31 |  1.20B
  2015-12-31 |  1.14B
  2016-12-31 |  1.07B
  2017-12-31 |  0.98B
  2018-12-31 |  1.51B
  2019-12-31 |  1.77B
  2020-12-31 |  2.31B
  2021-12-31 |  2.25B
  2022-12-31 |  4.18B
  2023-12-31 |  4.02B
  2024-12-31 |  4.06B

               |                         |                         |                         |                         |
               0.00B                     1.05B                     2.09B                     3.14B                     4.18B

FCF

Free Cash Flow — explained by Jerry the Goat Farmer
Operating Cash FlowReal cash moving in and out. Not "my customer promised to pay me" money. Actual dollars. Jerry has trust issues now.
Capital ExpendituresBig, expensive purchases Jerry justifies at 2am: the industrial milking machine, new fencing, and a hot tub "for the goats" that somehow only Jerry uses.
Using alias: paychecka -> operatingCashflow [annual] [cashflow]
Using alias: capexa -> capitalExpenditures [annual] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ operatingCashflow                   20/20 dates (100%)
  ✅ capitalExpenditures                 20/20 dates (100%)

Plot for BRO (in B)
  reports: annualReports
  showing last 25 entries
  Legend: operatingCashflow, capitalExpenditures

               0.00B                     0.29B                     0.59B                     0.88B                     1.17B
               |                         |                         |                         |                         |

  2005-12-31 |  0.22B
  2006-12-31 |  0.23B
  2007-12-31 |  0.22B
  2008-12-31 |  0.34B
  2009-12-31 |  0.22B
  2010-12-31 |  0.30B
  2011-12-31 |  0.24B
  2012-12-31 |  0.22B
  2013-12-31 |  0.39B
  2014-12-31 |  0.39B
  2015-12-31 |  0.38B
  2016-12-31 |  0.41B
  2017-12-31 |  0.44B
  2018-12-31 |  0.57B
  2019-12-31 |  0.68B
  2020-12-31 |  0.72B
  2021-12-31 |  0.95B
  2022-12-31 |  0.88B
  2023-12-31 |  1.01B
  2024-12-31 |  1.17B

               |                         |                         |                         |                         |
               0.00B                     0.29B                     0.59B                     0.88B                     1.17B

Assets

Assets, Liabilities & Equity — explained by Jerry the Goat Farmer
🐐 Assets = Liabilities + Equity

Translation: What Jerry owns = What Jerry owes + What's actually Jerry's

Or as Jerry mutters every April during tax season:
"Everything I have equals everything I owe plus whatever scraps are left for me, a humble goat man just trying to make cheese in this cruel world."
Total AssetsEverything Jerry owns: 12 acres of land, a barn that's "rustic" (rotting), 47 goats, Sergio (appraised at $800, priceless to Jerry), the cheese cave, and a 2004 Ford F-150 held together by duct tape and prayer.
Total LiabilitiesEverything Jerry owes: bank loans, the feed store tab, back taxes, and a moral debt to his neighbor for "borrowing" that tractor in 2019. They both know he's not returning it.
Total Shareholder EquityIf Jerry sold absolutely everything, paid off every debt, and finally returned that tractor... this is what he'd have left. His actual net worth. Some days it's a retirement fund. Other days it's "enough for a bus ticket and a fresh start."
Using alias: assetsa -> totalAssets [annual] [balance]
Using alias: liabila -> totalLiabilities [annual] [balance]
Using alias: equitya -> totalShareholderEquity [annual] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ totalAssets                         20/20 dates (100%)
  ✅ totalLiabilities                    20/20 dates (100%)
  ✅ totalShareholderEquity              20/20 dates (100%)

Plot for BRO (in B)
  reports: annualReports
  showing last 25 entries
  Legend: totalAssets, totalLiabilities, totalShareholderEquity

               0.00B                     4.40B                     8.81B                    13.21B                    17.61B
               |                         |                         |                         |                         |

  2005-12-31 |  1.61B
  2006-12-31 |  1.81B
  2007-12-31 |  1.96B
  2008-12-31 |  2.12B
  2009-12-31 |  2.22B
  2010-12-31 |  2.40B
  2011-12-31 |  2.61B
  2012-12-31 |  3.13B
  2013-12-31 |  3.65B
  2014-12-31 |  4.96B
  2015-12-31 |  5.01B
  2016-12-31 |  5.29B
  2017-12-31 |  5.76B
  2018-12-31 |  6.69B
  2019-12-31 |  7.62B
  2020-12-31 |  8.97B
  2021-12-31 |  9.80B
  2022-12-31 |  13.97B
  2023-12-31 |  14.88B
  2024-12-31 |  17.61B

               |                         |                         |                         |                         |
               0.00B                     4.40B                     8.81B                    13.21B                    17.61B

Buffet

Using alias: incomea -> netIncome [annual] [income]
Using alias: debta -> shortLongTermDebtTotal [annual] [balance]
Using alias: equitya -> totalShareholderEquity [annual] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ netIncome                           20/20 dates (100%)
  ✅ shortLongTermDebtTotal              20/20 dates (100%)
  ✅ totalShareholderEquity              20/20 dates (100%)

Plot for BRO (in B)
  reports: annualReports
  showing last 25 entries
  Legend: netIncome, shortLongTermDebtTotal, totalShareholderEquity

               0.00B                     1.61B                     3.22B                     4.83B                     6.44B
               |                         |                         |                         |                         |

  2005-12-31 |  0.76B
  2006-12-31 |  0.93B
  2007-12-31 |  1.10B
  2008-12-31 |  1.24B
  2009-12-31 |  1.37B
  2010-12-31 |  1.51B
  2011-12-31 |  1.64B
  2012-12-31 |  1.81B
  2013-12-31 |  2.01B
  2014-12-31 |  2.11B
  2015-12-31 |  2.15B
  2016-12-31 |  2.36B
  2017-12-31 |  2.58B
  2018-12-31 |  3.00B
  2019-12-31 |  3.35B
  2020-12-31 |  3.75B
  2021-12-31 |  4.20B
  2022-12-31 |  4.61B
  2023-12-31 |  5.58B
  2024-12-31 |  6.44B

               |                         |                         |                         |                         |
               0.00B                     1.61B                     3.22B                     4.83B                     6.44B

Revenue-q

Using alias: revenue -> totalRevenue [quarterly] [income]
Using alias: profit -> grossProfit [quarterly] [income]
Using alias: income -> netIncome [quarterly] [income]


Data Completeness:
------------------------------------------------------------
  ✅ totalRevenue                        25/25 dates (100%)
  ✅ grossProfit                         25/25 dates (100%)
  ✅ netIncome                           25/25 dates (100%)

Plot for BRO (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: totalRevenue, grossProfit, netIncome

               0.00B                     0.40B                     0.80B                     1.20B                     1.61B
               |                         |                         |                         |                         |

  2019-09-30 |  0.62B
  2019-12-31 |  0.58B
  2020-03-31 |  0.70B
  2020-06-30 |  0.60B
  2020-09-30 |  0.67B
  2020-12-31 |  0.64B
  2021-03-31 |  0.81B
  2021-06-30 |  0.73B
  2021-09-30 |  0.77B
  2021-12-31 |  0.74B
  2022-03-31 |  0.90B
  2022-06-30 |  0.84B
  2022-09-30 |  0.93B
  2022-12-31 |  0.89B
  2023-03-31 |  1.11B
  2023-06-30 |  1.04B
  2023-09-30 |  1.07B
  2023-12-31 |  0.97B
  2024-03-31 |  1.24B
  2024-06-30 |  1.15B
  2024-09-30 |  1.19B
  2024-12-31 |  1.09B
  2025-03-31 |  1.39B
  2025-06-30 |  1.25B
  2025-09-30 |  1.61B

               |                         |                         |                         |                         |
               0.00B                     0.40B                     0.80B                     1.20B                     1.61B

Costs-q

Using alias: rnd -> researchAndDevelopment [quarterly] [income]
Using alias: sga -> sellingGeneralAndAdministrative [quarterly] [income]
Using alias: cogs -> costofGoodsAndServicesSold [quarterly] [income]


Data Completeness:
------------------------------------------------------------
  ⚠️  SPARSE researchAndDevelopment              0/25 dates (0%)
  ⚠️  sellingGeneralAndAdministrative     22/25 dates (88%)
  ✅ costofGoodsAndServicesSold          25/25 dates (100%)

Plot for BRO (in M)
  reports: quarterlyReports
  showing last 25 entries
  Legend: researchAndDevelopment, sellingGeneralAndAdministrative, costofGoodsAndServicesSold

               0.00M                    198.25M                   396.50M                   594.75M                   793.00M
               |                         |                         |                         |                         |

  2019-09-30 |  422.26M ⊗
  2019-12-31 |  432.35M ⊗
  2020-03-31 |  445.80M ⊗
  2020-06-30 |  422.72M ⊗
  2020-09-30 |  469.49M ⊗
  2020-12-31 |  459.89M ⊗
  2021-03-31 |  522.97M ⊗
  2021-06-30 |  395.61M ⊗
  2021-09-30 |  395.00M ⊗
  2021-12-31 |  547.86M ⊗
  2022-03-31 |  582.40M ⊗
  2022-06-30 |  563.10M ⊗
  2022-09-30 |  613.30M ⊗
  2022-12-31 |  475.60M ⊗
  2023-03-31 |  571.10M ⊗
  2023-06-30 |  530.20M ⊗
  2023-09-30 |  532.00M ⊗
  2023-12-31 |  553.70M ⊗⊗
  2024-03-31 |  631.00M ⊗⊗
  2024-06-30 |  585.00M ⊗⊗
  2024-09-30 |  607.00M ⊗
  2024-12-31 |  583.00M ⊗
  2025-03-31 |  683.00M ⊗
  2025-06-30 |  640.00M ⊗
  2025-09-30 |  793.00M ⊗

               |                         |                         |                         |                         |
               0.00M                    198.25M                   396.50M                   594.75M                   793.00M

Cash-q

Using alias: cash -> cashAndShortTermInvestments [quarterly] [balance]
Using alias: debt -> shortLongTermDebtTotal [quarterly] [balance]
Using alias: paycheck -> operatingCashflow [quarterly] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ cashAndShortTermInvestments         25/25 dates (100%)
  ✅ shortLongTermDebtTotal              25/25 dates (100%)
  ✅ operatingCashflow                   25/25 dates (100%)

Plot for BRO (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: cashAndShortTermInvestments, shortLongTermDebtTotal, operatingCashflow

               0.00B                     2.22B                     4.45B                     6.67B                     8.89B
               |                         |                         |                         |                         |

  2019-09-30 |  1.75B
  2019-12-31 |  1.77B
  2020-03-31 |  1.72B
  2020-06-30 |  1.80B
  2020-09-30 |  2.28B
  2020-12-31 |  2.31B
  2021-03-31 |  2.25B
  2021-06-30 |  2.23B
  2021-09-30 |  2.22B
  2021-12-31 |  2.25B
  2022-03-31 |  3.73B
  2022-06-30 |  4.41B
  2022-09-30 |  4.30B
  2022-12-31 |  4.18B
  2023-03-31 |  4.12B
  2023-06-30 |  4.00B
  2023-09-30 |  3.89B
  2023-12-31 |  4.02B
  2024-03-31 |  4.06B
  2024-06-30 |  4.30B
  2024-09-30 |  3.77B
  2024-12-31 |  4.06B
  2025-03-31 |  3.99B
  2025-06-30 |  8.89B
  2025-09-30 |  7.97B

               |                         |                         |                         |                         |
               0.00B                     2.22B                     4.45B                     6.67B                     8.89B

FCF-q

Using alias: paycheck -> operatingCashflow [quarterly] [cashflow]
Using alias: capex -> capitalExpenditures [quarterly] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ operatingCashflow                   25/25 dates (100%)
  ✅ capitalExpenditures                 25/25 dates (100%)

Plot for BRO (in M)
  reports: quarterlyReports
  showing last 25 entries
  Legend: operatingCashflow, capitalExpenditures

               0.00M                    117.00M                   234.00M                   351.00M                   468.00M
               |                         |                         |                         |                         |

  2019-09-30 |  141.42M
  2019-12-31 |  231.06M
  2020-03-31 |  33.82M
  2020-06-30 |  382.88M
  2020-09-30 |  122.89M
  2020-12-31 |  182.06M
  2021-03-31 |  138.00M
  2021-06-30 |  241.90M
  2021-09-30 |  247.90M
  2021-12-31 |  314.63M
  2022-03-31 |  103.60M
  2022-06-30 |  242.60M
  2022-09-30 |  253.60M
  2022-12-31 |  281.60M
  2023-03-31 |  59.80M
  2023-06-30 |  328.70M
  2023-09-30 |  315.60M
  2023-12-31 |  305.40M
  2024-03-31 |  13.00M
  2024-06-30 |  360.00M
  2024-09-30 |  440.00M
  2024-12-31 |  361.00M
  2025-03-31 |  213.00M
  2025-06-30 |  325.00M
  2025-09-30 |  468.00M

               |                         |                         |                         |                         |
               0.00M                    117.00M                   234.00M                   351.00M                   468.00M

Assets-q

Using alias: assets -> totalAssets [quarterly] [balance]
Using alias: liabil -> totalLiabilities [quarterly] [balance]
Using alias: equity -> totalShareholderEquity [quarterly] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ totalAssets                         25/25 dates (100%)
  ✅ totalLiabilities                    25/25 dates (100%)
  ✅ totalShareholderEquity              25/25 dates (100%)

Plot for BRO (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: totalAssets, totalLiabilities, totalShareholderEquity

               0.00B                     7.34B                    14.68B                    22.02B                    29.35B
               |                         |                         |                         |                         |

  2019-09-30 |  7.68B
  2019-12-31 |  7.62B
  2020-03-31 |  7.58B
  2020-06-30 |  8.20B
  2020-09-30 |  8.80B
  2020-12-31 |  8.97B
  2021-03-31 |  8.91B
  2021-06-30 |  9.36B
  2021-09-30 |  9.63B
  2021-12-31 |  9.80B
  2022-03-31 |  11.27B
  2022-06-30 |  12.28B
  2022-09-30 |  13.66B
  2022-12-31 |  13.97B
  2023-03-31 |  13.40B
  2023-06-30 |  14.07B
  2023-09-30 |  13.98B
  2023-12-31 |  14.88B
  2024-03-31 |  14.81B
  2024-06-30 |  15.94B
  2024-09-30 |  17.52B
  2024-12-31 |  17.61B
  2025-03-31 |  16.76B
  2025-06-30 |  25.64B
  2025-09-30 |  29.35B

               |                         |                         |                         |                         |
               0.00B                     7.34B                    14.68B                    22.02B                    29.35B

Buffet-q

Using alias: income -> netIncome [quarterly] [income]
Using alias: debt -> shortLongTermDebtTotal [quarterly] [balance]
Using alias: equity -> totalShareholderEquity [quarterly] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ netIncome                           25/25 dates (100%)
  ✅ shortLongTermDebtTotal              25/25 dates (100%)
  ✅ totalShareholderEquity              25/25 dates (100%)

Plot for BRO (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: netIncome, shortLongTermDebtTotal, totalShareholderEquity

               0.00B                     3.10B                     6.19B                     9.29B                    12.39B
               |                         |                         |                         |                         |

  2019-09-30 |  3.31B
  2019-12-31 |  3.35B
  2020-03-31 |  3.48B
  2020-06-30 |  3.58B
  2020-09-30 |  3.70B
  2020-12-31 |  3.75B
  2021-03-31 |  3.83B
  2021-06-30 |  3.95B
  2021-09-30 |  4.11B
  2021-12-31 |  4.20B
  2022-03-31 |  4.34B
  2022-06-30 |  4.41B
  2022-09-30 |  4.31B
  2022-12-31 |  4.61B
  2023-03-31 |  4.84B
  2023-06-30 |  5.07B
  2023-09-30 |  5.20B
  2023-12-31 |  5.58B
  2024-03-31 |  5.78B
  2024-06-30 |  6.03B
  2024-09-30 |  6.46B
  2024-12-31 |  6.44B
  2025-03-31 |  6.82B
  2025-06-30 |  11.59B
  2025-09-30 |  12.39B

               |                         |                         |                         |                         |
               0.00B                     3.10B                     6.19B                     9.29B                    12.39B

Price History

Volume

Advanced Chart