BROWN & BROWN, INC. (BRO)
As-reported financials and SEC filings for BROWN & BROWN, INC. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.
About BROWN & BROWN, INC.
Brown & Brown, Inc. is a diversified insurance agency and brokerage firm that markets and sells insurance products primarily in property, casualty, and employee benefits. The company operates through two main segments: Retail, which serves commercial, public, professional, and individual customers with a broad range of insurance and related services; and Specialty Distribution, which includes programs, wholesale brokerage, and specialty businesses offering niche insurance solutions and access to complex risks. Brown & Brown serves clients across the United States and internationally through numerous locations.
Snapshot
Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.
What changed at Brown & Brown
- Revenue grew 22.8% to $5.9B in FY2025, faster than the 12.9% the year before.
- Most recent quarter Q2 FY2026: revenue $1.7B, up 30.4% from Q2 FY2025.
- Free cash flow was $1.4B in FY2025, 23.4% of revenue.
- Net income rose 6.1% to $1.1B in FY2025.
Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.
Peer comparison
Where Brown & Brown’s fundamentals sit among the 88 insurance companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).
1 reported insider purchase (code P) totaling $49,923 in the last 90 days. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →
Percentiles describe where a figure sits among industry peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.
Institutional ownership
Held by 5 of the superinvestors we track (plus 6 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).
| Investor | As of | Position value | Shares | Change |
|---|---|---|---|---|
| First Eagle Investment Management | Q2 2026 | $752.3M | 11.7M | Added |
| Two Sigma Investmentsquant | Q2 2026 | $127.9M | 2.0M | Added |
| Gotham Asset Management | Q2 2026 | $78.2M | 1.2M | Added |
| AQR Capital Managementquant | Q2 2026 | $61.1M | 963.8K | Added |
| Renaissance Technologiesquant | Q2 2026 | $58.0M | 904.2K | Reduced |
| Giverny Capital | Q2 2026 | $48.3M | 753.3K | Reduced |
| Citadel Advisorsquant | Q2 2026 | $43.3M | 675.3K | Reduced |
| Millennium Managementquant | Q2 2026 | $2.7M | 42.8K | Reduced |
| Bridgewater Associates | Q2 2026 | $1.2M | 18.0K | New |
| Markel Group | Q2 2026 | $898,100 | 14.0K | Held |
| D. E. Shawquant | Q2 2026 | $455,465 | 7.1K | Held |
From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.
Recent insider activity
Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.
| Trade date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
2026-06-09 filed 2026-06-10 | JOHNSON JOIA MDirector | Buy | 860 | $58.05 | $50K |
2026-05-05 filed 2026-05-06 | PROCTOR H PALMER JRDirector | Buy | 2.0K | $57.10 | $114K |
Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.
Short interest
Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.
| Settlement | Shares short | Change | Days to cover |
|---|---|---|---|
| 2026-08-14 | 14.2M | -14.3% | 7.14 |
| 2026-07-31 | 16.6M | -11.6% | 4.86 |
| 2026-07-15 | 18.8M | -0.8% | 8.48 |
| 2026-06-30 | 18.9M | +12.6% | 5.33 |
| 2026-06-15 | 16.8M | +2.6% | 5.47 |
| 2026-05-29 | 16.3M | +1.2% | 5.85 |
| 2026-05-15 | 16.2M | -11.6% | 3.94 |
| 2026-04-30 | 18.3M | -0.9% | 6.23 |
Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.
Income statement (as reported)
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $5.90B | $4.80B | $4.26B | $3.57B | $3.05B |
| Gross profit | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| Net income | $1.05B | $993.0M | $871.0M | $672.0M | $587.1M |
| Diluted EPS | $3.16 | $3.46 | $3.05 | $2.37 | $2.07 |
Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.
Balance sheet (as reported)
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Cash and equivalents | $1.08B | $675.0M | $700.0M | $650.0M | $693.2M |
| Current assets | $8.61B | $6.92B | $5.13B | $5.00B | $3.33B |
| Total assets | $29.99B | $17.61B | $14.88B | $13.97B | $9.80B |
| Current liabilities | $8.29B | $6.31B | $4.96B | $4.60B | $2.67B |
| Long-term debt | $6.89B | $3.60B | $3.23B | $3.69B | $1.98B |
| Total liabilities | $17.42B | $11.18B | $9.30B | $9.37B | $5.60B |
| Total equity | $12.57B | $6.44B | $5.58B | $4.61B | $4.20B |
Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.
Cash flow (as reported)
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Operating cash flow | $1.45B | $1.17B | $1.01B | $881.0M | $808.8M |
| Capital expenditure | $68.0M | $82.0M | $69.0M | $52.0M | $45.0M |
| Free cash flow | $1.38B | $1.09B | $941.0M | $829.0M | $763.8M |
Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.
Quarterly trend (as reported)
| Quarter | Revenue | Revenue YoY | Net income | Diluted EPS |
|---|---|---|---|---|
| Q2 FY2026 | $1.68B | 30.4% | $288.0M | $0.84 |
| Q1 FY2026 | $1.90B | 35.4% | $426.0M | $1.06 |
| Q4 FY2025 | $1.61B | 35.8% | $264.0M | $0.78 |
| Q3 FY2025 | $1.61B | 35.4% | $227.0M | $0.68 |
| Q2 FY2025 | $1.28B | 9.1% | $231.0M | $0.78 |
| Q1 FY2025 | $1.40B | 11.6% | $331.0M | $1.15 |
| Q4 FY2024 | $1.18B | 15.3% | $210.0M | $0.73 |
| Q3 FY2024 | $1.19B | 11.0% | $234.0M | $0.81 |
Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.
Company facts
Selected SEC filings
Largest insurance peers
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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.