15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 17.7% per year over the past 5 years.
Net income has grown slower than revenue (17.0% vs 17.7% per year).
Free cash flow has grown 16.6% per year over the past 5 years.
Financial health
Total debt ($7.6B) exceeds cash ($1.1B); net debt is $6.5B.
Total debt has grown faster than revenue (29.4% vs 17.7% per year).
Shareholder returns
Dividends have been paid for 15 consecutive years, consuming 18.3% of earnings and 14.0% of free cash flow.
The dividend has grown 13.9% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$5.9B
$1.1B
0.0%
0.0%
$1.4B
$7.6B
$1.1B
2024
$4.8B
$993M
0.0%
0.0%
$1.1B
$3.8B
$675M
2023
$4.3B
$871M
0.0%
0.0%
$941M
$3.8B
$700M
2022
$3.6B
$672M
0.0%
0.0%
$829M
$3.9B
$650M
2021
$3.1B
$587M
0.0%
0.0%
$764M
$2.0B
$693M
2020
$2.6B
$481M
0.0%
0.0%
$642M
$2.1B
$656M
2019
$2.4B
$399M
0.0%
0.0%
$605M
$1.6B
$542M
2018
$2.0B
$344M
0.0%
0.0%
$526M
$1.5B
$439M
2017
$1.9B
$400M
0.0%
0.0%
$418M
$976M
$573M
2016
$1.8B
$257M
0.0%
0.0%
—
$1.1B
$516M
2015
$1.7B
$243M
0.0%
0.0%
—
$1.2B
$443M
2014
$1.6B
$207M
0.0%
0.0%
—
$1.2B
$470M
2013
$1.4B
$217M
0.0%
0.0%
$373M
$480M
$470M
2012
$1.2B
$184M
0.0%
0.0%
$196M
$450M
$203M
2011
$1.0B
$164M
0.0%
0.0%
$224M
$251M
$286M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Mar '26
$1.9B
$426M
0.0%
0.0%
$241M
$7.8B
$1.0B
Dec '25
$1.6B
$264M
0.0%
0.0%
$424M
$7.6B
$1.1B
Sep '25
$1.6B
$227M
0.0%
0.0%
$452M
$7.7B
$1.2B
Jun '25
$1.3B
$231M
0.0%
0.0%
$310M
$7.5B
$8.9B
Mar '25
$1.4B
$331M
0.0%
0.0%
$196M
$3.8B
$669M
Dec '24
$1.2B
$210M
0.0%
0.0%
$341M
$3.8B
$675M
Sep '24
$1.2B
$234M
0.0%
0.0%
$417M
$3.6B
$957M
Jun '24
$1.2B
$257M
0.0%
0.0%
$334M
$4.1B
$1.1B
Mar '24
$1.3B
$293M
0.0%
0.0%
$0
$3.9B
$581M
Dec '23
$1.0B
$269M
0.0%
0.0%
$275M
$3.8B
$700M
Sep '23
$1.1B
$176M
0.0%
0.0%
$303M
$3.7B
$756M
Jun '23
$1.0B
$190M
0.0%
0.0%
$315M
$3.8B
$628M
Mar '23
$1.1B
$236M
0.0%
0.0%
$48M
$3.9B
$563M
Dec '22
$901M
$145M
0.0%
0.0%
$261M
$3.9B
$650M
Sep '22
$928M
$161M
0.0%
0.0%
$240M
$4.1B
$580M
Jun '22
$840M
$145M
0.0%
0.0%
$234M
$4.2B
$2.4B
Mar '22
$905M
$220M
0.0%
0.0%
$94M
$3.5B
$1.7B
Dec '21
$739M
$102M
0.0%
0.0%
$171M
$2.0B
$693M
Sep '21
$770M
$146M
0.0%
0.0%
$238M
$2.0B
$785M
Jun '21
$727M
$139M
0.0%
0.0%
$228M
$2.1B
$625M
Valuation over time
How the market has priced BRO against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has fallen from 29.0× (Mar '23) to 19.6× (Jun '26).
The price-to-sales ratio has fallen from 5.4× (Mar '23) to 3.5× (Jun '26).
The dividend yield has risen from 0.6% (Mar '23) to 0.9% (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is BRO growing its revenue and profit?
Over the past 5 years, Brown & Brown's revenue has grown 17.7% per year, and net income grown 17.0% per year. These are computed facts, not advice.
How much debt does BRO have?
As of FY2025, Brown & Brown reported $7.6B of total debt against $1.1B of cash.
What is BRO's profit margin?
In FY2025, gross margin was —, operating margin —, and net margin 17.9%.
What is BRO's P/E ratio?
As of Jun '26, Brown & Brown traded at a price-to-earnings ratio of about 19.6× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.