Brown & Brown, Inc. (BRO) Financial Statements
Industry: Insurance Agents, Brokers & Service
In fiscal 2025, Brown & Brown reported revenue of $5.90B, up 22.8% from $4.80B the year before. Net income was $1.05B (a 17.9% net margin), or $3.16 per diluted share. Gross margin was 100.0% and operating margin was 100.0%. Operating activities generated $1.45B of cash, leaving $1.38B of free cash flow. At fiscal year end, Brown & Brown held $29.99B in total assets against $17.42B in total liabilities, including $1.08B of cash and equivalents.
Open the full interactive Brown & Brown financials → Quarterly statements, key ratios, valuation history and price charts.
Brown & Brown Key Stats
| Share Price | $64.05 |
|---|---|
| Market Cap | $21.39B |
| P/E Ratio | 20.3 |
| Dividend Yield | 1.02% |
| Revenue YoY Growth | +22.8% |
| 52-Week Range | $54.25 – $93.86 |
| Shares Outstanding | 329.0 million (basic, 2026 Q2) |
Brown & Brown Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $2.61B | $3.05B | $3.57B | $4.26B | $4.80B | $5.90B |
| Cost of Goods Sold | — | — | — | — | $0 | $0 |
| Gross Profit | — | — | — | — | $4.80B | $5.90B |
| Operating Income | — | — | — | — | $4.80B | $5.90B |
| Pre-Tax Income | $624.1M | $762.8M | $876.1M | $1.15B | $1.30B | $1.37B |
| Income Tax | $143.6M | $175.7M | $204.3M | $275.6M | $301.0M | $304.0M |
| Net Income | $480.5M | $587.1M | $671.8M | $870.5M | $993.0M | $1.05B |
| Diluted EPS | $1.69 | $2.07 | $2.37 | $3.05 | $3.46 | $3.16 |
Brown & Brown Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $1.61B | $1.61B | $1.90B | $1.68B |
| Net Income | $227.0M | $265.0M | $426.0M | $288.0M |
| Diluted EPS | $0.68 | $0.85 | $1.06 | $0.84 |
Brown & Brown Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $817.4M | $887.0M | $650.0M | $700.3M | $675.0M | $1.08B |
| Current Assets | $2.96B | $3.33B | $5.00B | $5.13B | $6.92B | $8.61B |
| Total Assets | $8.97B | $9.80B | $13.97B | $14.88B | $17.61B | $29.99B |
| Current Liabilities | $2.35B | $2.67B | $4.60B | $4.96B | $6.31B | $8.29B |
| Total Long-Term Debt | $2.10B | $2.02B | $3.94B | $3.80B | $3.82B | $7.61B |
| Total Liabilities | $5.21B | $5.60B | $9.37B | $9.30B | $11.18B | $17.42B |
| Shareholders' Equity | $3.75B | $4.20B | $4.61B | $5.58B | $6.44B | $12.57B |
Brown & Brown Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $721.6M | $942.5M | $881.4M | $1.01B | $1.17B | $1.45B |
| Cash From Investing | -$759.1M | -$396.7M | -$1.91B | -$587.0M | -$898.0M | -$7.91B |
| Cash From Financing | $346.4M | -$343.9M | $1.73B | -$186.7M | -$64.0M | $7.71B |
| Free Cash Flow | $650.9M | $897.4M | $828.8M | $940.6M | $1.09B | $1.38B |
| Dividends Paid | $100.6M | $107.2M | $119.5M | $135.0M | $154.0M | $193.0M |
Figures from Brown & Brown's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Brown & Brown financials page for every line item.
Brown & Brown Company Profile
| Ticker | BRO |
|---|---|
| Exchange | NYSE |
| Industry | Insurance Agents, Brokers & Service |
| Headquarters | Daytona Beach, Florida |
| Incorporated in | Florida |
| Fiscal Year End | January 19 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0000079282 |
Frequently Asked Questions
What was Brown & Brown's revenue in fiscal 2025?
Brown & Brown (BRO) reported revenue of $5.90B for fiscal 2025.
What is Brown & Brown's annual revenue history?
Brown & Brown's annual revenue by fiscal year: 2020: $2.61B; 2021: $3.05B; 2022: $3.57B; 2023: $4.26B; 2024: $4.80B; 2025: $5.90B.
What was Brown & Brown's net income in fiscal 2025?
Brown & Brown reported net income of $1.05B for fiscal 2025.
What was Brown & Brown's earnings per share (EPS) in fiscal 2025?
Brown & Brown's diluted EPS was $3.16 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Brown & Brown generate in fiscal 2025?
Brown & Brown generated $1.38B of free cash flow in fiscal 2025.
What was Brown & Brown's revenue last quarter?
In its most recent reported quarter (2026 Q2), Brown & Brown reported revenue of $1.68B.
How much debt does Brown & Brown have?
Brown & Brown reported $7.61B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Brown & Brown are outstanding?
Brown & Brown reported a weighted average of 329.0 million basic shares outstanding in 2026 Q2.
What is Brown & Brown's market cap?
Based on its latest closing price, Brown & Brown (BRO) has a market capitalization of about $21.39B.
When does Brown & Brown's fiscal year end?
Brown & Brown's fiscal year end, as registered with the SEC, is January 19.
Where is Brown & Brown headquartered?
Brown & Brown lists its business address in Daytona Beach, Florida in its SEC filings.