BRO Financials Brown & Brown

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 Oct 29, 2026, 11:12 UTC 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

Return on equity & assets (ROE / ROA)

ROEROA

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	ROE	ROA	FCF	Total debt	Cash
2025	$5.9B	$1.1B	0.0%	0.0%	8.4%	3.5%	$1.4B	$7.6B	$1.1B
2024	$4.8B	$993M	0.0%	0.0%	15.4%	5.6%	$1.1B	$3.8B	$675M
2023	$4.3B	$871M	0.0%	0.0%	15.6%	5.9%	$941M	$3.8B	$700M
2022	$3.6B	$672M	0.0%	0.0%	14.6%	4.8%	$829M	$3.9B	$650M
2021	$3.1B	$587M	0.0%	0.0%	14.0%	6.0%	$764M	$2.0B	$693M
2020	$2.6B	$481M	0.0%	0.0%	—	5.4%	$642M	$2.1B	$656M
2019	$2.4B	$399M	0.0%	0.0%	—	5.2%	$605M	$1.6B	$542M
2018	$2.0B	$344M	0.0%	0.0%	—	5.1%	$526M	$1.5B	$439M
2017	$1.9B	$400M	0.0%	0.0%	—	7.0%	$418M	$976M	$573M
2016	$1.8B	$257M	0.0%	0.0%	—	4.9%	—	$1.1B	$516M
2015	$1.7B	$243M	0.0%	0.0%	—	4.9%	—	$1.2B	$443M
2014	$1.6B	$207M	0.0%	0.0%	—	4.2%	—	$1.2B	$470M
2013	$1.4B	$217M	0.0%	0.0%	—	5.9%	$373M	$480M	$470M
2012	$1.2B	$184M	0.0%	0.0%	—	5.9%	$196M	$450M	$203M
2011	$1.0B	$164M	0.0%	0.0%	—	6.3%	$224M	$251M	$286M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

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	ROE	ROA	FCF	Total debt	Cash
Sep '26	$1.7B	$240M	0.0%	0.0%	1.9%	0.8%	$493M	$7.8B	$1.1B
Jun '26	$1.7B	$288M	0.0%	0.0%	2.3%	1.0%	$329M	$7.8B	$918M
Mar '26	$1.9B	$426M	0.0%	0.0%	3.4%	1.4%	$241M	$7.8B	$1.0B
Dec '25	$1.6B	$264M	0.0%	0.0%	2.1%	0.9%	$424M	$7.6B	$1.1B
Sep '25	$1.6B	$227M	0.0%	0.0%	1.8%	0.8%	$452M	$7.7B	$1.2B
Jun '25	$1.3B	$231M	0.0%	0.0%	2.0%	0.9%	$310M	$7.5B	$8.9B
Mar '25	$1.4B	$331M	0.0%	0.0%	4.8%	2.0%	$196M	$3.8B	$669M
Dec '24	$1.2B	$210M	0.0%	0.0%	3.3%	1.2%	$341M	$3.8B	$675M
Sep '24	$1.2B	$234M	0.0%	0.0%	3.6%	1.3%	$417M	$3.6B	$957M
Jun '24	$1.2B	$257M	0.0%	0.0%	4.3%	1.6%	$334M	$4.1B	$1.1B
Mar '24	$1.3B	$293M	0.0%	0.0%	5.1%	2.0%	$0	$3.9B	$581M
Dec '23	$1.0B	$269M	0.0%	0.0%	4.8%	1.8%	$275M	$3.8B	$700M
Sep '23	$1.1B	$176M	0.0%	0.0%	3.4%	1.3%	$303M	$3.7B	$756M
Jun '23	$1.0B	$190M	0.0%	0.0%	3.7%	1.4%	$315M	$3.8B	$628M
Mar '23	$1.1B	$236M	0.0%	0.0%	4.9%	1.8%	$48M	$3.9B	$563M
Dec '22	$901M	$145M	0.0%	0.0%	3.2%	1.0%	$261M	$3.9B	$650M
Sep '22	$928M	$161M	0.0%	0.0%	—	1.2%	$240M	$4.1B	$580M
Jun '22	$840M	$145M	0.0%	0.0%	—	1.2%	$234M	$4.2B	$2.4B
Mar '22	$905M	$220M	0.0%	0.0%	—	2.0%	$94M	$3.5B	$1.7B
Dec '21	$739M	$102M	0.0%	0.0%	2.4%	1.0%	$171M	$2.0B	$693M

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 28.3× (Mar '23) to 22.6× (Nov '26).
The price-to-sales ratio has fallen from 5.3× (Mar '23) to 4.0× (Nov '26).
The dividend yield has risen from 0.6% (Mar '23) to 0.8% (Nov '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?

Brown & Brown's P/E (TTM) is 19.57 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the BRO stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 22.6× as of Nov '26) can differ. 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), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.