Brown & Brown
BRO stock analysis · Financials · Insurance Brokers
As of · fund-implied per-share value
Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.
View SEC fund filing ↗Price × SEC outstanding shares. Shares measured 2026-06-30. Approximate; share and price dates can differ.
View share-count filing ↗Reviewed cash-flow model
Reviewed operating-business exception limited to this annual period. Brown & Brown operates insurance distribution, wholesale/specialty and related service businesses. The reviewed consolidated cash flow and capital expenditure support an operating-business FCF proxy. Fiduciary balances, acquisition spending and earnout payments remain important interpretation limits. No operating-income total is manufactured from pretax income, and ROIC may remain unavailable. The cash flow includes subsidiary minority owners and is a consolidated ownership proxy; DCF and reverse DCF await a dated claim bridge. Business description ↗
DCF value
Consolidated cash flow includes noncontrolling interests. A dated valuation bridge for those claims has not been reviewed, so per-share DCF and reverse DCF remain unavailable.
How this is calculated ↗Reverse DCF
Consolidated cash flow includes noncontrolling interests. A dated valuation bridge for those claims has not been reviewed, so per-share DCF and reverse DCF remain unavailable.
How this is calculated ↗Relative valuation
69 sector peers · median 17.0×
How this is calculated ↗Historical multiples
6 annual observations · snapshot P/E 20.3× · -31.0% versus history
How this is calculated ↗Free cash flow yield
Annual basis · read assumptions below
How this is calculated ↗ROIC / quality
Requires two adjacent years of positive average capital, equity, cash, debt and operating income.
How this is calculated ↗Value composite
Annual basis · read assumptions below
How this is calculated ↗12–1 price momentum
Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.
How this is calculated ↗Asset growth
Annual basis · read assumptions below
How this is calculated ↗Net payout yield
Annual basis · read assumptions below
How this is calculated ↗Accrual quality
Annual basis · read assumptions below
How this is calculated ↗Fundamental momentum
Requires two adjacent years of revenue, operating income and cash flow.
How this is calculated ↗Follow the cash
ANNUAL · USDOperating cash flow and reinvestment over time
Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.
Make the assumptions yours
How sensitive is the valuation?
| Return / Growth | 3.0% | 5.0% | 7.0% |
|---|---|---|---|
| 8.0% | — | — | — |
| 10.0% | — | — | — |
| 12.0% | — | — | — |
Annual financial history
Open SEC filings ↗| Fiscal year-end | Revenue | Net income | Operating cash flow | Capital expenditure | Assets |
|---|---|---|---|---|---|
| 2025-12-31 | 5.9B | 1.1B | 1.5B | 68M | 30B |
| 2024-12-31 | 4.8B | 1B | 1.2B | 82M | 17.6B |
| 2023-12-31 | 4.3B | 871M | 1B | 69M | 14.9B |
| 2022-12-31 | 3.6B | 672M | 881M | 52M | 14B |
| 2021-12-31 | 3.1B | 587.1M | 808.8M | 45M | 9.8B |
| 2020-12-31 | 2.6B | 480.5M | 713M | 70.7M | 9B |
| 2019-12-31 | 2.4B | 398.5M | 678.2M | 73.1M | 7.6B |
| 2018-12-31 | 2B | 344.3M | 567.5M | 41.5M | 6.7B |
USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.
Trace the inputs
MODEL ANNUAL PERIOD| Input | Value | SEC tag / source | Filed |
|---|---|---|---|
| revenue | 5.9B | Revenues | 2026-02-12 |
| netIncome | 1.1B | ProfitLoss Explicit consolidated amount, including the portion attributable to noncontrolling interests. | 2026-02-12 |
| Parent/common earnings proxy | 1B | NetIncomeLossAvailableToCommonStockholdersBasic | 2026-02-12 |
| cfo | 1.5B | NetCashProvidedByUsedInOperatingActivities | 2026-02-12 |
| capex | 68M | PaymentsToAcquirePropertyPlantAndEquipment | 2026-02-12 |
| operatingIncome | — | Not reported under a supported tag | — |
| assets | 30B | Assets | 2026-02-12 |
| equity | 12.6B | StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest Explicit consolidated amount, including the portion attributable to noncontrolling interests. | 2026-02-12 |
| Parent book equity proxy | 12.5B | StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest − MinorityInterest Parent stockholders' equity derived by removing explicitly reported noncontrolling interests; preferred equity may remain included. | 2026-02-12 |
| debt | 7.6B | LongTermDebt | 2026-02-12 |
| shortDebt | — | Not reported under a supported tag | — |
| cash | 1.1B | CashAndCashEquivalentsAtCarryingValue | 2026-02-12 |
| shares | 313M | WeightedAverageNumberOfDilutedSharesOutstanding | 2026-02-12 |
| dividends | 193M | PaymentsOfDividends | 2026-02-12 |
| buybacks | 100M | PaymentsForRepurchaseOfCommonStock | 2026-02-12 |
| issuance | 4.3B | ProceedsFromIssuanceOfCommonStock | 2026-02-12 |