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Equiscale · Syntellia LLC
Brown & Brown, Inc. markets and sells insurance products and services in the United States, the United Kingdom, and internationally. It operates through Retail and Specialty Distribution segments. 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. This segment also offers non-insurance services and products through automobile and recreational vehicle dealer services businesses. It serves commercial, public and quasi-public entities, professional, and individual customers. The Specialty Distribution segment comprises wholesale brokerage and specialty businesses. This segment offers professional liability and related package insurance products for dentistry, legal, eyecare, insurance, 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. In addition, the company's wholesale brokerage businesses underwrite and place excess and surplus commercial and personal lines insurance through independent agents and brokers. Its programs businesses operate under the Arrowhead Programs' name. Brown & Brown, Inc. was founded in 1939 and is headquartered in Daytona Beach, Florida.
Rule-based from financial data. Not advice.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $5.8B | $2.0B | $1.1B | $1.4B | 8.4% | 22.5% | 6.1% |
| 2024 | $4.7B | $1.7B | $993M | $1.1B | 15.5% | 12.1% | 14.0% |
| 2023 | $4.2B | $1.5B | $871M | $941M | 15.6% | 17.9% | 29.6% |
| 2022 | $3.6B | $1.2B | $672M | $829M | 14.6% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 3,563 | 4,199 | 4,705 | 5,763 |
| Operating Revenue | - | 3,563 | 4,199 | 4,705 | 5,763 |
| Cost Of Revenue | - | 1,817 | 2,187 | 2,406 | 2,935 |
| Gross Profit | - | 1,746 | 2,012 | 2,299 | 2,828 |
| Operating Expense | - | 783 | 856 | 932 | 1,326 |
| Total Expenses | - | 2,600 | 3,043 | 3,338 | 4,261 |
| Operating Income | - | 963 | 1,156 | 1,367 | 1,502 |
| EBITDA | - | 1,210 | 1,542 | 1,726 | 2,044 |
| Normalized EBITDA | - | 1,152 | 1,362 | 1,589 | 1,923 |
| EBIT | - | 1,024 | 1,336 | 1,504 | 1,677 |
| Interest Expense | - | 148 | 190 | 201 | 306 |
| Net Interest Income | - | -148 | -190 | -201 | -306 |
| Other Non Operating Income Expenses | - | 3 | 5.30 | 7 | 54 |
| Other Income Expense | - | 61 | 180 | 137 | 175 |
| Interest Expense Non Operating | - | 148 | 190 | 201 | 306 |
| Net Non Operating Interest Income Expense | - | -148 | -190 | -201 | -306 |
| Pretax Income | - | 876 | 1,146 | 1,303 | 1,371 |
| Tax Provision | - | 204 | 275 | 301 | 304 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 13.51 | 43.38 | 31.65 | 26.74 |
| Net Income Continuous Operations | - | 672 | 871 | 1,002 | 1,067 |
| Net Income From Continuing And Discontinued Operation | - | 672 | 871 | 993 | 1,054 |
| Net Income From Continuing Operation Net Minority Interest | - | 672 | 871 | 993 | 1,054 |
| Net Income | - | 672 | 871 | 993 | 1,054 |
| Net Income Common Stockholders | - | 659 | 858 | 981 | 1,043 |
| Net Income Including Noncontrolling Interests | - | 672 | 871 | 1,002 | 1,067 |
| Normalized Income | - | 627.51 | 734.38 | 887.65 | 959.74 |
| Diluted NI Availto Com Stockholders | - | 659 | 858 | 981 | 989 |
| Basic Average Shares | - | 277.52 | 279.60 | 282 | 310 |
| Diluted Average Shares | - | 278.66 | 280.80 | 284 | 313 |
| Reconciled Depreciation | - | 186 | 206 | 222 | 367 |
| Reconciled Cost Of Revenue | - | 1,817 | 2,187 | 2,406 | 2,935 |
| Total Unusual Items | - | 58 | 180 | 137 | 121 |
| Total Unusual Items Excluding Goodwill | - | 58 | 180 | 137 | 121 |
| Minority Interests | - | 0 | 0 | -9 | -13 |
| Special Income Charges | - | 51 | 122 | 37 | -18 |
| Gain On Sale Of Business | - | 5 | 143 | 31 | -2 |
| Restructuring And Mergern Acquisition | - | -46 | 21 | -6 | 16 |
| Gain On Sale Of Security | - | 7 | 58 | 100 | 139 |
| Depreciation Amortization Depletion Income Statement | - | 186 | 206 | 222 | 367 |
| Depreciation And Amortization In Income Statement | - | 186 | 206 | 222 | 367 |
| Other Operating Expenses | - | 597 | 650 | 710 | 959 |
| Otherunder Preferred Stock Dividend | - | 13 | 13 | 12 | 11 |
| Average Dilution Earnings | - | - | 0 | 0 | -54 |
| Amortization | - | 147 | 166 | 178 | 312 |
| Amortization Of Intangibles Income Statement | - | 147 | 166 | 178 | 312 |
| Depreciation Income Statement | - | 39 | 40 | 44 | 55 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Brown & Brown, Inc.this co. | BRO | $19.4B | 18.65↑ premium | 1.55 | 8.3% | 12.86 |
| Willis Towers Watson Public Limited Company | WTW | $24.4B | 15.22 | 3.06 | 20.1% | 10.72 |
| Regions Financial Corporation | RF | $24.3B | 11.25 | 1.37 | 12.2% | - |
| Synchrony Financial | SYF | $23.8B | 6.86 | 1.42 | 20.7% | - |
| KeyCorp | KEY | $23.5B |
| - |
| - |
| - |
| - |
| - |
| 12.85 |
| 1.31 |
| 10.2% |
| - |
| T. Rowe Price Group, Inc. | TROW | $22.9B | 11.25 | 2.11 | 18.8% | 6.48 |
| Principal Financial Group, Inc. | PFG | $22.4B | 18.87 | 1.88 | 10.0% | - |
| Loews Corporation | L | $21.6B | 12.96 | 1.16 | 8.9% | - |
| Franklin Resources, Inc. | BEN | $16.6B | 31.65 | 1.38 | 4.3% | 18.63 |
| Peer Median | - | 12.90 | 1.40 | 11.2% | 10.72 | |
Historically, Nov has averaged the highest return (+4.0%); Apr the lowest (-5.6%).
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -9.5%Negative MonthJan 2026: -9.54% | -0.4%Neutral MonthFeb 2026: -0.39% | -9.2%Negative MonthMar 2026: -9.20% | -7.8%Negative MonthApr 2026: -7.76% | -6.5%Negative MonthMay 2026: -6.48% | +14.0%Positive MonthJun 2026: +14.04% | +9.7%Positive MonthJul 2026: +9.74% | +1.5%*Neutral MonthAug 2026: +1.55% | — | — | — | — |
| 2025 | +2.6%Positive MonthJan 2025: +2.59% | +13.3%Positive MonthFeb 2025: +13.26% | +4.9%Positive MonthMar 2025: +4.94% | -11.1%Negative MonthApr 2025: -11.09% | +2.1%Positive MonthMay 2025: +2.08% | -1.8%Neutral MonthJun 2025: -1.80% | -17.6%Negative MonthJul 2025: -17.59% | +6.1%Positive MonthAug 2025: +6.11% | -3.3%Negative MonthSep 2025: -3.26% | -15.0%Negative MonthOct 2025: -14.98% | +0.9%Neutral MonthNov 2025: +0.87% | -0.9%Neutral MonthDec 2025: -0.91% |
| 2024 | +9.1%Positive MonthJan 2024: +9.07% | +8.6%Positive MonthFeb 2024: +8.57% | +4.0%Positive MonthMar 2024: +3.95% | -6.9%Negative MonthApr 2024: -6.85% | +9.8%Positive MonthMay 2024: +9.77% | -0.1%Neutral MonthJun 2024: -0.11% | +11.2%Positive MonthJul 2024: +11.21% | +5.7%Positive MonthAug 2024: +5.73% | -1.5%Neutral MonthSep 2024: -1.46% | +1.0%Neutral MonthOct 2024: +1.00% | +8.1%Positive MonthNov 2024: +8.08% | -9.8%Negative MonthDec 2024: -9.80% |
| 2023 | +2.8%Positive MonthJan 2023: +2.79% | -4.3%Negative MonthFeb 2023: -4.25% | +2.4%Positive MonthMar 2023: +2.41% | +12.1%Positive MonthApr 2023: +12.14% | -3.2%Negative MonthMay 2023: -3.20% | +10.4%Positive MonthJun 2023: +10.44% | +2.3%Positive MonthJul 2023: +2.34% | +5.2%Positive MonthAug 2023: +5.18% | -5.7%Negative MonthSep 2023: -5.75% | -0.6%Neutral MonthOct 2023: -0.60% | +7.7%Positive MonthNov 2023: +7.66% | -4.9%Negative MonthDec 2023: -4.86% |
| 2022 | -5.7%Negative MonthJan 2022: -5.69% | +2.0%Positive MonthFeb 2022: +2.01% | +6.9%Positive MonthMar 2022: +6.89% | -14.2%Negative MonthApr 2022: -14.24% | -4.2%Negative MonthMay 2022: -4.21% | -1.7%Neutral MonthJun 2022: -1.73% | +11.6%Positive MonthJul 2022: +11.59% | -3.2%Negative MonthAug 2022: -3.16% | -4.1%Negative MonthSep 2022: -4.06% | -2.8%Negative MonthOct 2022: -2.79% | +1.4%Neutral MonthNov 2022: +1.36% | -4.4%Negative MonthDec 2022: -4.40% |
| 2021 | — | — | — | — | -1.2%Neutral MonthMay 2021: -1.24% | +1.2%Neutral MonthJun 2021: +1.18% | +2.4%Positive MonthJul 2021: +2.37% | +6.7%Positive MonthAug 2021: +6.71% | -4.5%Negative MonthSep 2021: -4.48% | +13.8%Positive MonthOct 2021: +13.81% | +2.1%Positive MonthNov 2021: +2.06% | +9.1%Positive MonthDec 2021: +9.11% |
| Avg±SD |
Each cell is the percentage change in closing price from the end of the prior month to the end of this month. The bottom row shows the average return for that calendar month across the selected years, plus or minus one standard deviation — the range that historically contained roughly two-thirds of outcomes. Past monthly patterns are not a forecast of future returns.
This aggregates every month by calendar position — all Januaries together, all Februaries together, and so on — to show whether a given month has leaned positive or negative historically. ‘Simple’ counts each month as +1 or −1. ‘Weighted’ gives larger moves more influence: +2 above +10%, −2 below −10%. With only 6 years of history for this asset, each month’s score reflects a small number of observations — read it as a historical tendency, not a reliable seasonal pattern.
This tracks a running tally across the asset’s full price history: each month adds or subtracts based on whether it was positive or negative. A rising line means more positive months than negative so far; a flattening or falling line means recent months have leaned negative. This measures historical month-to-month consistency, not expected future performance.
Year-to-date return is calculated by dividing each day’s closing price by the price on January 1st of that year (or the asset’s first available price if it began trading mid-year). The custom average line shows the mean YTD return at each calendar day across the selected years. The standard deviation band shows the range within which returns have historically fallen — at 1 SD, roughly two-thirds of years; at 2 SD, roughly 95%. Past year-to-date patterns do not predict future returns. The average and standard deviation band are computed from the year set chosen in “Average from”, which is independent of which year lines are displayed. The current in-progress year is excluded from these calculations, since a partial year is not comparable to complete ones. Election-cycle groupings follow the US presidential calendar and are offered only for US and crypto assets.
