Brown & Brown

Financials Insurance Brokers Daytona Beach, Florida Last filing Feb 12, 2026 · FY2025

                    Revenue
                    FY2025
                
$5.9B
                    3y CAGR +18.2%
                    
                    P64
                    
                    +22.8%
                    
                    Net income
                    FY2025
                
$1.1B
                    Net margin +17.9%
                    
                    P39
                    
                    +6.1%
                    
                    Total assets
                    FY2025
                
$30.0B
                    ROA +3.5%
                    
                    P59
                    
                    +70.3%
                    
                    Operating cash flow
                    FY2025
                
$1.4B
                    FCF margin +23.4%
                    
                    P50
                    
                    +23.5%

18 yrs · FY2008–FY2025 7 filed · 1 derived · 1 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Running CAGR since the earliest displayed year.

Balance Sheet

Assets, liabilities, and equity

31 accounts · 10 years

Total assets $30.0B

Total liabilities ~$17.4B

Shareholders equity $12.6B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	+8.6%	+3.4%	+4.5%	+3.9%	+6.1%	+12.2%	+1.7%	-7.7%	+11.2%	—
Accounts Receivable	+34.3%	+23.4%	+30.9%	+26.6%	+24.3%	+28.6%	+12.8%	+12.0%	-7.8%	—
Prepaid Expenses	+28.5%	+27.5%	+29.9%	+26.0%	+28.3%	+30.7%	+44.4%	+59.5%	-5.4%	—
Other Current Assets	+28.5%	+27.5%	+29.9%	+26.0%	+28.3%	+30.7%	+44.4%	+59.5%	-5.4%	—
Total Current Assets	+19.3%	+18.7%	+16.5%	+19.0%	+13.6%	+13.9%	+12.3%	+10.9%	+27.3%	—
Property,Plant and Equipment	+19.2%	+19.7%	+19.9%	+21.2%	+22.8%	+27.6%	+25.2%	+15.1%	+1.7%	—
Operating Lease Assets	—	—	—	—	—	—	—	—	—	—
Goodwill	+21.2%	+14.6%	+15.5%	+16.5%	+12.1%	+13.2%	+11.9%	+13.3%	+1.5%	—
Intangible Assets	+24.0%	+12.5%	+12.6%	+14.5%	+8.9%	+10.4%	+9.0%	+12.7%	-9.4%	—
Other Noncurrent Assets	+36.7%	+30.0%	+31.3%	+31.4%	+35.7%	+35.1%	+32.7%	+26.6%	+27.6%	—
Total Assets	+21.3%	+16.3%	+16.0%	+17.7%	+13.2%	+14.2%	+13.1%	+12.7%	+9.2%	—
Liabilities
Accounts Payable	+34.3%	+23.4%	+30.9%	+26.6%	+24.3%	+28.6%	+12.8%	+12.0%	-7.8%	—
Accrued Liabilities	+17.7%	+15.8%	+17.1%	+17.9%	+17.7%	+16.5%	+18.7%	+17.6%	+13.2%	—
Deferred Revenue	—	—	—	—	—	—	—	—	—	—
Current Portion of Long Term Debt	+32.9%	+19.1%	+39.4%	+28.6%	-5.2%	+6.0%	-0.3%	-5.1%	+116.2%	—
Operating Lease Liabilities	—	—	—	—	—	—	—	—	—	—
Other Current Liabilities	+50.8%	+1.2%	+6.6%	+0.6%	-5.1%	-8.6%	-26.3%	-32.3%	-62.4%	—
Total Current Liabilities	+21.4%	+20.2%	+19.3%	+21.3%	+13.0%	+13.0%	+12.3%	+11.1%	+37.5%	—
Long Term Debt	+23.7%	+17.1%	+17.9%	+23.9%	+14.2%	+18.8%	+13.8%	+19.6%	-15.9%	—
Deferred Revenue Noncurrent	—	—	—	—	—	—	—	—	—	—
Operating Lease Liabilities Noncurrent	—	—	—	—	—	—	—	—	—	—
Deferred Tax Liabilities	+8.8%	+8.1%	+7.1%	+7.3%	+0.2%	-2.6%	-5.0%	-9.1%	-33.0%	—
Other Noncurrent Liabilities	+34.5%	+20.5%	+21.9%	+24.2%	+36.4%	+40.3%	+41.6%	+27.6%	-20.0%	—
Equity
Common Stock	+10.4%	+9.7%	+10.8%	+12.7%	+15.2%	+19.3%	+26.1%	+40.7%	+0.5%	—
Additional Paid In Capital	+33.1%	+11.5%	+11.9%	+11.9%	+12.6%	+14.1%	+15.2%	+14.6%	+6.2%	—
Retained Earnings	+14.1%	+14.1%	+13.8%	+13.5%	+13.4%	+13.3%	+13.7%	+15.2%	+15.1%	—
Treasury Stock	+33.0%	+77.3%	-46.2%	+45.9%	+60.9%	+63.8%	+71.6%	+261.4%	+1726.7%	—
Accumulated Other Comprehensive Income	—	—	—	—	—	—	—	—	—	—
Noncontrolling Interest	—	—	—	—	—	—	—	—	—	—
Total Stockholders Equity	+20.4%	+13.4%	+13.1%	+11.8%	+12.2%	+12.3%	+12.4%	+12.8%	+9.4%	—
Total Liabilitiesand Equity	+21.3%	+16.2%	+15.9%	+17.6%	+13.1%	+14.1%	+13.0%	+12.5%	+8.7%	—

Income Statement

Revenue, expense, and profitability

12 accounts · 10 years

Revenue $5.9B

Operating income Not reported

Net income $1.1B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	+14.3%	+13.3%	+13.4%	+12.5%	+11.6%	+10.3%	+10.6%	+6.8%	+6.5%	—
Expenses Depreciation and Amortization	+15.3%	+9.4%	+9.7%	+9.2%	+6.7%	+5.8%	+6.7%	-0.1%	-1.4%	—
Expenses Share Based Compensation	+21.6%	+25.8%	+27.7%	+26.6%	+30.6%	+38.9%	+43.1%	+44.5%	+90.8%	—
Other Income Expense Interest Income	+65.0%	+68.1%	+66.7%	+29.9%	-5.5%	+17.8%	+58.3%	+37.3%	+11.7%	—
Other Income Expense Income Before Tax	+13.9%	+15.1%	+15.3%	+12.9%	+12.5%	+10.2%	+7.5%	+4.5%	+6.2%	—
Income Tax Income Tax Expense	+7.0%	+7.7%	+7.5%	+3.5%	+1.1%	-3.6%	-8.4%	-15.6%	-69.8%	—
net Income net Income	+17.0%	+18.4%	+19.0%	+17.3%	+17.9%	+16.9%	+15.7%	+15.6%	+55.2%	—
net Income Comprehensive Income	—	—	—	—	—	—	—	—	—	—
Earnings Per Share Basic Eps	+15.5%	+18.1%	+18.8%	+17.2%	+17.7%	+16.6%	+15.6%	+16.1%	+55.4%	—
Earnings Per Share Diluted Eps	+14.8%	+18.2%	+18.9%	+17.3%	+17.9%	+16.7%	+15.4%	+15.8%	+53.8%	—
Earnings Per Share Weighted Average Shares Basic	+1.5%	+0.4%	+0.4%	+0.3%	+0.3%	+0.2%	-90.0%	-0.2%	+0.1%	—
Earnings Per Share Weighted Average Shares Diluted	+1.4%	+0.4%	+0.3%	+0.2%	+0.1%	+0.0%	-90.0%	-0.0%	+0.7%	—

Cash Flow Statement

Operating, investing, and financing flows

22 accounts · 10 years

Operating cash flow $1.4B

Investing cash flow $-7.9B

Financing cash flow $7.7B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	+17.0%	+18.4%	+19.0%	+17.3%	+17.9%	+16.9%	+15.7%	+15.6%	+55.2%	—
Operating Activities Depreciation and Amortization	+15.3%	+9.4%	+9.7%	+9.2%	+6.7%	+5.8%	+6.7%	-0.1%	-1.4%	—
Operating Activities Stock Based Compensation	+21.6%	+25.8%	+27.7%	+26.6%	+30.6%	+38.9%	+43.1%	+44.5%	+90.8%	—
Operating Activities Deferred Income Taxes	—	-4.1%	-5.7%	+15.4%	+13.1%	-3.1%	-12.0%	-9.1%	—	—
Operating Activities Changes In Operating Assets and Liabilities	-10.6%	—	+36.0%	+26.6%	+12.5%	+38.7%	-16.1%	-14.8%	-11.2%	—
Operating Activities Other Non Cash Items	—	—	—	—	—	—	—	—	—	—
Operating Activities net Cash From Operating Activities	—	—	—	—	—	—	—	—	—	—
Investing Activities Capital Expenditures	+16.1%	+21.1%	+21.4%	+19.6%	+20.4%	+41.2%	+60.3%	+52.9%	+36.2%	—
Investing Activities Business Acquisitions	+58.8%	+28.1%	+26.4%	+58.3%	+24.5%	+54.3%	+42.3%	+174.5%	-66.2%	—
Investing Activities Other Investing Activities	—	—	—	—	—	—	—	—	—	—
Investing Activities net Cash From Investing Activities	—	—	—	—	—	—	—	—	—	—
Financing Activities Proceeds From Debt	—	—	—	—	—	—	—	—	—	—
Financing Activities Repayment of Debt	+13.3%	+33.1%	+19.3%	-3.0%	-0.0%	-6.9%	-11.9%	+28.1%	+32.3%	—
Financing Activities Repurchase of Common Stock	+20.3%	—	—	+25.5%	+34.3%	+30.7%	+45.9%	+119.7%	+580.3%	—
Financing Activities Dividends Paid	+11.9%	+10.3%	+9.8%	+9.3%	+8.8%	+9.4%	+9.1%	+9.8%	+10.6%	—
Financing Activities Proceeds From Stock Issuance	+13.0%	+13.5%	+14.0%	+15.5%	+16.3%	+17.1%	+16.1%	+10.3%	+9.0%	—
Financing Activities Other Financing Activities	—	—	—	—	—	—	—	—	—	—
Financing Activities net Cash From Financing Activities	—	—	—	—	—	—	—	—	—	—
Cash Reconciliation Effect of Exchange Rate On Cash	—	—	—	—	—	—	—	—	—	—
Cash Reconciliation net Change In Cash	+32.0%	+7.9%	+14.0%	+31.7%	+12.9%	+30.0%	+19.7%	—	-60.4%	—
Cash Reconciliation Cash At Beginning of Period	+24.9%	+21.8%	+23.8%	+25.7%	+23.3%	+25.3%	+23.1%	+22.8%	+59.8%	—
Cash Reconciliation Cash At End of Period	+24.9%	+21.8%	+23.8%	+25.7%	+23.3%	+25.3%	+23.1%	+22.8%	+59.8%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—
Net margin	+17.9%	+20.7%	+20.5%	+18.8%	+19.2%	+18.4%	+16.7%	+17.1%	+21.2%	+14.6%
FCF margin	+23.4%	+22.7%	+22.1%	+23.2%	+25.0%	+24.6%	+25.3%	+26.1%	+22.2%	—
Growth
Revenue CAGR (3y)	+18.2%	+16.3%	+17.7%	+14.3%	+14.8%	+11.6%	+10.6%	+6.6%	+6.1%	+9.0%
Returns
ROE	+8.4%	+15.4%	+15.6%	+14.6%	+14.0%	+12.8%	+11.9%	+11.5%	+15.5%	+10.9%
ROA	+3.5%	+5.6%	+5.9%	+4.8%	+6.0%	+5.4%	+5.2%	+5.1%	+7.0%	+4.9%
ROIC	—	—	—	—	—	—	—	—	—	—
Liquidity
Current ratio	1.04x	1.10x	1.03x	1.09x	1.25x	1.26x	1.22x	1.22x	1.13x	1.22x
Quick ratio	0.25x	0.17x	0.23x	0.20x	0.34x	0.43x	0.31x	0.30x	0.32x	0.40x
Leverage
D/E	1.39x	1.74x	1.67x	2.03x	1.33x	1.39x	1.28x	1.23x	1.23x	1.23x
Interest coverage	—	—	—	—	—	—	—	—	—	—
Efficiency
Asset turnover	0.20x	0.27x	0.29x	0.26x	0.31x	0.29x	0.31x	0.30x	0.33x	0.34x
Cash conversion cycle	—	—	—	—	—	—	—	—	—	—

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