For the twelve months ended Sep 30, 2026, Brown & Brown Inc. reported $6.91B of revenue and $1.22B of net income.
BRO revenue was $1.73B in fiscal Q3 2026 (ended Sep 30, 2026), up 7.4% from a year earlier and up 2.9% from the prior quarter. For the full fiscal 2025 it was $5.90B, up 22.8% from fiscal 2024. Compound annual growth was +17.7% over 5 years and +13.5% over 10 years. It rose in each of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.
BRO net income was $240.00M in fiscal Q3 2026 (ended Sep 30, 2026), up 5.7% from a year earlier and down 17.0% from the prior quarter. For the full fiscal 2025 it was $1.05B, up 6.1% from fiscal 2024. Compound annual growth was +17.0% over 5 years and +15.8% over 10 years. It rose in 9 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.
BRO diluted EPS was $0.67 in fiscal Q3 2026 (ended Sep 30, 2026), down 1.5% from a year earlier and down 20.2% from the prior quarter. For the full fiscal 2025 it was $3.16, down 8.7% from fiscal 2024. Compound annual growth was +13.3% over 5 years.
BRO free cash flow was $493.00M in fiscal Q3 2026 (ended Sep 30, 2026), up 9.1% from a year earlier and up 49.8% from the prior quarter. For the full fiscal 2025 it was $1.38B, up 26.6% from fiscal 2024. Compound annual growth was +16.6% over 5 years and +14.3% over 10 years. It rose in each of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.90B | $4.80B | $4.26B | $3.57B | $3.05B | $2.61B | $2.39B | $2.01B | $1.88B | $1.77B |
| Interest expense | $297.00M | $193.00M | $190.00M | $141.00M | $65.00M | $59.00M | $63.66M | $40.58M | $38.32M | $39.48M |
| Pre-tax income | $1.37B | $1.30B | $1.15B | $876.00M | $762.80M | $624.10M | $525.93M | $462.46M | $449.72M | $423.50M |
| Income tax | $304.00M | $301.00M | $275.00M | $204.00M | $175.70M | $143.60M | $127.42M | $118.21M | $50.09M | $166.01M |
| Net income | $1.05B | $993.00M | $871.00M | $672.00M | $587.10M | $480.50M | $398.51M | $344.25M | $399.63M | $257.49M |
| EPS, basic | $3.37 | $3.48 | $3.07 | $2.38 | $2.08 | $1.70 | $1.42 | $1.24 | $1.43 | $0.92 |
| EPS, diluted | $3.16 | $3.46 | $3.05 | $2.37 | $2.07 | $1.69 | $1.40 | $1.22 | $1.40 | $0.91 |
| Diluted shares | 313.0M | 284.0M | 281.0M | 279.0M | 277.4M | 275.8M | 274,616 | 275.5M | 277.6M | 275.6M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.08B | $2.50B | $700.00M | $2.03B | $1.47B | $1.27B | $963.00M | $777.60M | $824.09M | $781.28M |
| Short-term investments | - | $10.00M | $11.00M | $12.00M | $12.90M | $18.33M | $12.32M | $12.87M | $24.96M | $15.05M |
| Current assets | $8.61B | $6.92B | $5.13B | $5.00B | $3.33B | $2.96B | $2.49B | $2.17B | $2.24B | $1.74B |
| Goodwill | $15.09B | $7.97B | $7.34B | $6.67B | $4.74B | $4.40B | $3.75B | $3.43B | $2.72B | $2.68B |
| Total assets | $29.99B | $17.61B | $14.88B | $13.97B | $9.80B | $8.97B | $7.62B | $6.69B | $5.75B | $5.26B |
| Current liabilities | $8.29B | $6.31B | $4.96B | $4.60B | $2.67B | $2.35B | $2.05B | $1.78B | $1.99B | $1.45B |
| Short-term debt | $719.00M | $225.00M | $569.00M | $250.60M | $42.50M | $70.00M | $55.00M | $50.00M | $120.00M | $55.50M |
| Long-term debt | $6.89B | $3.60B | $3.23B | $3.69B | $1.98B | $2.03B | $1.50B | $1.46B | $856.14M | $1.02B |
| Total debt | $7.61B | $3.82B | $3.80B | $3.94B | $2.02B | $2.10B | $1.56B | $1.51B | $976.14M | $1.07B |
| Total liabilities | $17.42B | $11.18B | $9.30B | $9.37B | $5.60B | - | - | $3.69B | - | - |
| Shareholders' equity | $12.57B | $6.44B | $5.58B | $4.61B | $4.20B | $3.75B | $3.35B | $3.00B | $2.58B | $2.36B |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.45B | $1.17B | $1.01B | $881.00M | $808.80M | $713.00M | $678.18M | $567.53M | $441.98M | $411.04M |
| Capital expenditures | $68.00M | $82.00M | $69.00M | $52.00M | $45.00M | $70.70M | $73.11M | $41.52M | $24.19M | $17.77M |
| Free cash flow | $1.38B | $1.09B | $941.00M | $829.00M | $763.80M | $642.30M | $605.07M | $526.01M | $417.78M | $393.28M |
| Investing cash flow | -$7.91B | -$898.00M | -$587.00M | -$1.91B | -$396.80M | -$759.10M | -$413.58M | -$951.77M | -$62.59M | -$142.41M |
| Financing cash flow | $7.71B | -$64.00M | -$187.00M | $1.73B | -$210.10M | $355.00M | -$79.22M | $337.75M | -$336.58M | -$160.52M |
| Dividends paid | $193.00M | $154.00M | $135.00M | $120.00M | $107.20M | $100.60M | $91.34M | $84.69M | $77.71M | $70.26M |
| Share repurchases | $100.00M | $0 | $0 | $74.00M | $82.60M | $55.10M | $58.67M | $91.25M | $128.64M | $18.91M |
| Stock-based compensation | $93.00M | $101.00M | $89.00M | $66.00M | $61.00M | $59.70M | $46.99M | $33.52M | $30.63M | $16.05M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | 22.8% | 12.9% | 19.1% | 17.1% | 16.8% | 9.2% | 18.8% | 7.1% | 6.5% | 6.4% |
| Net income growth, YoY | 6.1% | 14.0% | 29.6% | 14.5% | 22.2% | 20.6% | 15.8% | -13.9% | 55.2% | 5.8% |
| EPS growth, YoY | -8.7% | 13.4% | 28.7% | 14.5% | 22.5% | - | - | -12.9% | 53.8% | 7.1% |
| Net margin | 17.9% | 20.7% | 20.5% | 18.8% | 19.2% | 18.4% | 16.7% | 17.1% | 21.2% | 14.6% |
| Free cash flow margin | 23.4% | 22.7% | 22.1% | 23.2% | 25.0% | 24.6% | 25.3% | 26.1% | 22.2% | 22.3% |
| Return on equity | 8.4% | 15.4% | 15.6% | 14.6% | 14.0% | 12.8% | 11.9% | 11.5% | 15.5% | 10.9% |
| Return on assets | 3.5% | 5.6% | 5.9% | 4.8% | 6.0% | 5.4% | 5.2% | 5.1% | 7.0% | 4.9% |
| Current ratio | 1.04 | 1.10 | 1.04 | 1.09 | 1.25 | 1.26 | 1.22 | 1.22 | 1.13 | 1.20 |
| Debt to equity | 0.61 | 0.59 | 0.68 | 0.86 | 0.48 | 0.56 | 0.46 | 0.50 | 0.38 | 0.45 |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.73B | $1.68B | $1.90B | $1.61B | $1.61B | $1.28B | $1.40B | $1.18B | $1.19B | $1.18B | $1.26B | $1.03B |
| Interest expense | $100.00M | $100.00M | $99.00M | $100.00M | $100.00M | $51.00M | $46.00M | $46.00M | $50.00M | $49.00M | $48.00M | $47.90M |
| Pre-tax income | $320.00M | $383.00M | $533.00M | $321.00M | $311.00M | $311.00M | $427.00M | $275.00M | $317.00M | $346.00M | $364.00M | $355.00M |
| Income tax | $79.00M | $94.00M | $106.00M | $53.00M | $82.00M | $77.00M | $93.00M | $64.00M | $78.00M | $87.00M | $71.00M | $86.00M |
| Net income | $240.00M | $289.00M | $427.00M | $264.00M | $227.00M | $234.00M | $334.00M | $210.00M | $234.00M | $258.00M | $294.00M | $269.00M |
| EPS, basic | $0.73 | $0.86 | $1.27 | $0.74 | $0.68 | $0.79 | $1.16 | $0.73 | $0.82 | $0.90 | $1.03 | $0.95 |
| EPS, diluted | $0.67 | $0.84 | $1.06 | $0.55 | $0.68 | $0.78 | $1.15 | $0.73 | $0.81 | $0.90 | $1.02 | $0.93 |
| Diluted shares | 330.0M | 334.0M | 337.0M | - | 332.0M | 293.0M | 285.0M | - | 284.0M | 283.0M | 283.0M | - |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.10B | $918.00M | $1.00B | $1.08B | $1.19B | $8.89B | $669.00M | $2.50B | $957.00M | $1.11B | $581.00M | $700.00M |
| Short-term investments | - | - | - | - | - | - | - | $10.00M | $11.00M | $9.00M | $10.00M | $11.00M |
| Current assets | $8.26B | $8.69B | $8.46B | $8.61B | $8.14B | $14.44B | $5.92B | $6.92B | $7.48B | $6.09B | $5.00B | $5.13B |
| Goodwill | $15.19B | $15.15B | $15.08B | $15.09B | $14.89B | $8.37B | $8.11B | $7.97B | $7.58B | $7.43B | $7.39B | $7.34B |
| Total assets | $29.45B | $29.89B | $29.70B | $29.99B | $29.35B | $25.64B | $16.76B | $17.61B | $17.52B | $15.94B | $14.81B | $14.88B |
| Current liabilities | $7.23B | $7.71B | $8.32B | $8.29B | $6.89B | $5.26B | $4.93B | $6.31B | $6.53B | $5.39B | $4.88B | $4.96B |
| Short-term debt | $413.00M | $413.00M | $1.24B | $719.00M | $75.00M | $75.00M | $75.00M | $225.00M | $225.00M | $725.00M | $875.00M | $569.00M |
| Long-term debt | $7.35B | $7.35B | $6.58B | $6.89B | $7.65B | $7.47B | $3.73B | $3.60B | $3.37B | $3.39B | $3.01B | $3.23B |
| Total debt | $7.76B | $7.76B | $7.82B | $7.61B | $7.73B | $7.54B | $3.81B | $3.82B | $3.59B | $4.12B | $3.88B | $3.80B |
| Total liabilities | $16.85B | $17.28B | $17.09B | $17.42B | $16.95B | $14.02B | $9.92B | $11.18B | $11.04B | $9.91B | $9.02B | $9.30B |
| Shareholders' equity | $12.60B | $12.61B | $12.61B | $12.57B | $12.41B | $11.62B | $6.84B | $6.44B | $6.48B | $6.04B | $5.79B | $5.58B |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $532.00M | $346.00M | $262.00M | $444.00M | $468.00M | $325.00M | $213.00M | $361.00M | $440.00M | $360.00M | $13.00M | $306.00M |
| Capital expenditures | $39.00M | $17.00M | $21.00M | $20.00M | $16.00M | $15.00M | $17.00M | $20.00M | $23.00M | $26.00M | $13.00M | $31.00M |
| Free cash flow | $493.00M | $329.00M | $241.00M | $424.00M | $452.00M | $310.00M | $196.00M | $341.00M | $417.00M | $334.00M | $0 | $275.00M |
| Investing cash flow | -$54.00M | -$33.00M | -$38.00M | -$213.00M | -$7.51B | -$108.00M | -$79.00M | -$779.00M | -$42.00M | $11.00M | -$88.00M | -$394.00M |
| Financing cash flow | -$463.00M | -$172.00M | -$354.00M | -$138.00M | -$130.00M | $8.20B | -$218.00M | $277.00M | -$716.00M | $442.00M | -$67.00M | $88.00M |
| Dividends paid | $57.00M | $55.00M | $57.00M | $56.00M | $51.00M | $43.00M | $43.00M | $43.00M | $36.00M | $37.00M | $38.00M | $37.00M |
| Share repurchases | $250.00M | $250.00M | $250.00M | $100.00M | $0 | $0 | $0 | - | - | - | - | -$100.0K |
| Stock-based compensation | $23.00M | $23.00M | $26.00M | $17.00M | $24.00M | $23.00M | $29.00M | $24.00M | $25.00M | $23.00M | $29.00M | $22.00M |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | 7.4% | 30.4% | 35.4% | 35.8% | 35.4% | 9.1% | 11.6% | 15.3% | 11.0% | 12.5% | 12.7% | 13.9% |
| Net income growth, YoY | 5.7% | 23.5% | 27.8% | 25.7% | -3.0% | -9.3% | 13.6% | -21.9% | 33.0% | 35.8% | 24.6% | 85.0% |
| EPS growth, YoY | -1.5% | 7.7% | -7.8% | - | -16.0% | -13.3% | 12.7% | -21.5% | 30.6% | 34.3% | 22.9% | 78.8% |
| Net margin | 13.9% | 17.2% | 22.5% | 16.4% | 14.1% | 18.2% | 23.8% | 17.8% | 19.7% | 21.9% | 23.4% | 26.2% |
| Free cash flow margin | 28.6% | 19.6% | 12.7% | 26.4% | 28.1% | 24.1% | 14.0% | 28.8% | 35.2% | 28.4% | 0.0% | 26.8% |
| Current ratio | 1.14 | 1.13 | 1.02 | 1.04 | 1.18 | 2.75 | 1.20 | 1.10 | 1.15 | 1.13 | 1.03 | 1.04 |
| Debt to equity | 0.62 | 0.62 | 0.62 | 0.61 | 0.62 | 0.65 | 0.56 | 0.59 | 0.55 | 0.68 | 0.67 | 0.68 |
Source: XBRL data Brown & Brown Inc. files with the SEC, latest filing dated Oct 26, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures and share counts are restated for stock splits the filings show: 2-for-1, first reported May 10, 2018.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| BRO | $6.91B | +26.1% | $1.22B | 17.7% | $23.86B |
| MRSH | $28.46B | +7.6% | $4.04B | 14.2% | $98.80B |
| AJG | $16.36B | +25.6% | $1.70B | 10.4% | $72.55B |
| AON | $17.68B | +3.8% | $3.93B | 22.2% | $71.77B |
| WTW | $10.27B | +4.8% | $1.56B | 15.2% | $30.92B |
| EQH | $13.05B | +8.7% | $1.50B | 11.5% | $14.96B |
| ERIE | $4.12B | +2.0% | $576.14M | 14.0% | $12.69B |
| RYAN | $3.25B | +9.8% | $193.64M | 6.0% | $11.80B |
| FNF | $14.91B | +6.4% | $1.05B | 7.0% | $11.64B |