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Brown & Brown, Inc.

Brown & Brown, Inc.

NYSE•BRO
CEO: Mr. J. Powell Brown C.P.C.U.
Sector: Financial Services
Industry: Insurance - Brokers
Listing Date: 1981-02-11
Brown & Brown, Inc. markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services. It serves commercial, public and quasi-public entities, professional, and individual customers. The National Programs segment offers professional liability and related package insurance products for dentistry, legal, eyecare, insurance, financial, physicians, real estate title professionals, as well as supplementary insurance products related to weddings, events, medical facilities, and cyber liabilities. This segment also provides public entity-related and specialty programs through a network of independent agents; and program management services for insurance carrier partners. The Wholesale Brokerage segment markets and sells excess and surplus commercial and personal lines insurance through independent agents and brokers. The Services segment offers third-party claims administration and medical utilization management services in the workers' compensation and all-lines liability arenas, Medicare Set-aside, Social Security disability, Medicare benefits advocacy, and claims adjusting services. Brown & Brown, Inc. was founded in 1939 and is headquartered in Daytona Beach, Florida.
Contact Information
300 North Beach Street, Daytona Beach, FL, 32114, United States
386-252-9601
www.bbinsurance.com
Market Cap
$26.80B
P/E (TTM)
26.0
28.2
Dividend Yield
0.8%
52W High
$125.68
52W Low
$76.17
52W Range
5%
7.0
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Strong • 7 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$1.61B+35.41%
4-Quarter Trend

EPS

$0.69-15.85%
4-Quarter Trend

FCF

$500.00M+19.90%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Total Revenue Jumps 35.4% Total revenues reached $1,606M for Q3 2025, up 35.4% driven by Accession acquisition integration.
Nine Month Net Income Up Nine month net income attributable to Company was $790M, a 0.9% increase over prior year period.
Core Commissions Strong Growth Core commissions and fees grew 30.9% in Q3 2025 to $1,477M, reflecting strong underlying business.
Operating Cash Flow Increased Cash provided by operating activities totaled $1,006M for nine months, up $193M year-over-year.

Risk Factors

Transaction Benefit Realization Risk Failure to realize anticipated Accession synergies or tax asset benefits could negatively impact stock price.
Increased Indebtedness Concerns Financing the Transaction increased total debt to $7,728M, reducing flexibility and increasing interest expense.
Accession Business Underwriting Risk Assumed Accession captive insurance business subjects company to potential underwriting risk and liabilities.
Potential Goodwill Impairment Intangible asset risk noted, including possibility that goodwill totaling $14.89B may become impaired in future.

Outlook

Realize Acquisition Synergies Management efforts focused on timely and efficient integration of Accession to achieve expected synergies.
Strong Liquidity Maintained Existing cash and credit facilities provide sufficient liquidity for normal needs and long-term obligations.
Share Repurchase Authorization Boost Board approved $1,251M increase to repurchase authorization, bringing total capacity to approximately $1,500M.
Ongoing Accounting Standard Review Company currently evaluating new disclosure requirements from recently issued FASB Accounting Standards Updates.

Peer Comparison

Revenue (TTM)

Prudential Financial, Inc.PRU
$55.91B
-16.2%
The Hartford Insurance Group, Inc.HIG
$27.79B
+7.3%
Sun Life Financial Inc.SLF
$20.76B
-40.5%

Gross Margin (Latest Quarter)

Sun Life Financial Inc.SLF
100.0%
+0.0 pp
Arch Capital Group Ltd.ACGL
99.0%
+67.9 pp
Raymond James Financial, Inc.RJF
98.6%
+12.8 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
PRU$37.81B14.48.7%2.6%
HIG$36.46B10.320.5%5.1%
ACGL$33.39B8.118.4%3.4%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
+13.8%
Steady Growth
4Q Net Income CAGR
+2.6%
Profitability Slowly Improving
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Oct 28, 2025|
    Revenue: $1.61B+35.4%
    |
    EPS: $0.69-15.9%
    Miss
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Jul 28, 2025|
    Revenue: $1.25B+8.2%
    |
    EPS: $0.79-12.2%
    Miss
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: Apr 28, 2025|
    Revenue: $1.39B+12.0%
    |
    EPS: $1.16+12.6%
    Miss
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 13, 2025|
    Revenue: $4.71B+12.0%
    |
    EPS: $3.48+13.4%
    Beat
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Oct 28, 2024|
    Revenue: $1.19B+11.3%
    |
    EPS: $0.82+32.3%
    Miss
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Jul 22, 2024|
    Revenue: $1.15B+11.4%
    |
    EPS: $0.90+34.3%
    Meet
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: Apr 24, 2024|
    Revenue: $1.24B+11.6%
    |
    EPS: $1.03+24.1%
    Miss
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 22, 2024|
    Revenue: $4.20B+17.8%
    |
    EPS: $3.07+29.0%
    Beat