BROWN & BROWN, INC.

Listed Company

BROCIK 0000079282NYSELarge AcceleratedInsurance Agents, Brokers & ServiceFloridaFY ends Jan 19

Period

FY 2025

Revenue

$5.90B

Net Income

$1.05B

Total Assets

$29.99B

Equity

$12.57B

Shares Out

338.95M

Op. Cash Flow

$1.45B

BRO$69.32−33.45% · past yearDBEQ Basic

Daily closing prices

Business

Brown & Brown, Inc. is a diversified insurance agency and wholesale brokerage that markets and sells insurance products and services in property, casualty, and employee benefits without assuming underwriting risk. The company operates two segments: Retail, providing broad insurance products and dealer F&I services to commercial, public, and individual customers; and Specialty Distribution, which includes programs businesses for niche markets, wholesale brokerage for excess and surplus lines, and captive and reinsurance services.

Summary from 10-K filed 2026-02-12

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Commissions and fees	5,763	4,705	4,199	3,563	3,048
Investment and other income	139	100	58	—	—
Total revenues	5,902	4,805	4,257	3,573	3,051
Employee compensation and benefits	2,935	2,406	2,187	1,817	1,637
Other operating expenses	959	710	650	597	403
Loss/(gain) on disposal	2	−31	−143	−5	−10
Amortization	312	178	166	147	120
Depreciation	55	44	40	39	33
Interest	297	193	190	141	—
Change in estimated acquisition earn-out payables	25	2	21	−39	40
Mark-to-market of escrow liability	−54	0	0	—	—
Total expenses	4,531	3,502	3,111	2,697	—
Income before income taxes	1,371	1,303	1,146	876	763
Income taxes	304	301	275	204	176
Net income before non-controlling interests	1,067	1,002	871	672	—
Less: Net income attributable to non-controlling interests	13	9	—	—	—
Net income attributable to the Company	1,054	993	871	672	587
Basic	3.37	3.48	3.07	2.38	2.08
Diluted	3.16	3.46	3.05	2.37	2.07

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	1,079	675	700	650	693
Fiduciary cash	2,471	1,827	1,603	1,383	777
Commission, fees and other receivables	1,438	895	790	643	523
Fiduciary receivables	1,515	1,116	1,125	881	694
Reinsurance recoverable	647	1,527	125	831	63
Prepaid reinsurance premiums	980	520	462	393	392
Other current assets	484	364	314	202	176
Total current assets	8,614	6,924	5,130	4,996	3,330
Fixed assets, net	367	319	270	240	212
Operating lease assets	269	200	199	215	197
Goodwill	15,087	7,970	7,341	6,674	4,737
Amortizable intangible assets, net	4,906	1,814	1,621	1,595	1,082
Other assets	748	385	301	231	207
Total assets	29,991	17,612	14,883	13,974	9,795
Fiduciary liabilities	3,986	2,943	2,727	2,265	1,471
Losses and loss adjustment reserve	671	1,543	131	841	63
Unearned premiums	1,053	577	462	412	392
Accounts payable	990	373	459	287	243
Accrued expenses and other liabilities	875	653	608	542	456
Current portion of long-term debt	719	225	569	251	43
Total current liabilities	8,294	6,314	4,956	4,597	2,667
Long-term debt less unamortized discount and debt issuance costs	6,894	3,599	3,227	3,692	1,980
Operating lease liabilities	243	189	179	196	180
Deferred income taxes, net	815	711	616	584	387
Other liabilities	1,172	362	326	299	384
Common stock, par value $0.10 per share; authorized 560 shares; issued 357 shares and outstanding 336 shares at 2025, issued 306 shares and outstanding 286 shares at 2024, respectively	36	31	30	30	30
Additional paid-in capital	6,160	1,118	1,027	920	849
Treasury stock, at cost 21 shares at 2025 and 20 shares at 2024, respectively	−848	−748	−748	−748	−674
Accumulated other comprehensive income/(loss)	210	−109	−19	−148	−9
Non-controlling interests	26	17	—	—	—
Retained earnings	6,989	6,128	5,289	4,553	4,001
Total equity	12,573	6,437	5,579	4,606	4,197
Total liabilities and equity	29,991	17,612	14,883	13,974	9,795

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Amortization	312	178	166	147	120
Non-cash stock-based compensation	93	101	89	66	61
Deferred income taxes	−7	13	12	43	34
Net loss/(gain) on sales/disposals of investments, businesses, fixed assets and customer accounts	3	−29	−140	−4	−7
Payments on acquisition earn-outs in excess of original estimated payables	−3	−37	−29	−30	−21
Other	6	5	5	3	—
Commissions, fees and other receivables (increase) decrease	−95	−94	−106	−61	−62
Reinsurance recoverable (increase) decrease	1,356	−1,402	706	−768	−20
Prepaid reinsurance premiums (increase) decrease	−182	−58	−68	−1	−15
Other assets (increase) decrease	−44	−98	−117	−18	−54
Losses and loss adjustment reserve increase (decrease)	−1,348	1,411	−710	778	20
Unearned premiums increase (decrease)	177	115	50	20	15
Accounts payable increase (decrease)	11	−47	260	124	54
Accrued expenses and other liabilities increase (decrease)	18	35	43	37	67
Other liabilities increase (decrease)	60	33	−83	−127	−47
Net cash provided by operating activities	1,450	1,174	1,010	881	809
Additions to fixed assets	−68	−82	−69	−52	−45
Payments for businesses acquired, net of cash acquired	−7,854	−890	−631	−1,928	−367
Proceeds from sales of businesses, fixed assets and customer accounts	9	70	107	60	17
Other investing activities	−1	4	6	—	—
Net cash used in investing activities	−7,914	−898	−587	−1,913	−397
Fiduciary receivables and liabilities, net	53	191	189	96	134
Payments on acquisition earn-outs	−143	−117	−90	−76	−63
Proceeds from long-term debt	4,192	599	0	2,000	—
Payments on long-term debt	−225	−719	−251	−61	−73
Deferred debt issuance costs	−36	−5	0	−23	−3
Borrowings on revolving credit facility	450	500	420	350	—
Payments on revolving credit facility	−600	−350	−320	−350	—
Proceeds from issuance of common stock, net of expenses	4,315	0	0	—	—
Issuances of common stock for employee stock benefit plans	48	44	40	38	34
Repurchase shares to fund tax withholdings for non-cash stock-based compensation	−42	−55	−40	−49	−50
Purchase of treasury stock	−100	0	0	−74	−83
Cash dividends paid	−193	−154	−135	−120	−107
Other financing activities	−6	2	0	−5	—
Net cash provided by (used in) financing activities	7,713	−64	−187	1,726	−210
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash inclusive of fiduciary cash	64	−13	34	—	—
Net increase in cash, cash equivalents and restricted cash inclusive of fiduciary cash	1,313	199	270	563	198

Filings

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Frequently asked questions

What is BROWN & BROWN, INC.'s CIK number?

BROWN & BROWN, INC.'s SEC CIK number is 0000079282 (79282). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find BROWN & BROWN, INC.'s SEC filings?

All of BROWN & BROWN, INC.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did BROWN & BROWN, INC. last report earnings?

BROWN & BROWN, INC. (BRO) most recently filed an earnings 8-K with the SEC on Apr 27, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-182375). This is BROWN & BROWN, INC.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is BROWN & BROWN, INC.'s most recent earnings 8-K?

BROWN & BROWN, INC.'s latest earnings 8-K (Item 2.02) was filed Apr 27, 2026 under accession 0001193125-26-182375. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

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