Brown & Brown (BRO): financials, SEC filings and peers

Brown & Brown (BRO) is an insurance brokers company in the Financials sector of the S&P 500, headquartered in Daytona Beach, Florida.

It was founded in 1939 and joined the S&P 500 on September 20, 2021.

Its fiscal year ends in January, and its shares trade on the NYSE.

In its SEC filings it is classified as “Insurance Agents, Brokers & Service”.

Brown & Brown at a glance

Revenue (12 months): $6.8B
Revenue growth: +34.2%
Operating margin: 28.7%
Net income (12 months): $1.2B
Free cash flow (12 months): $1.4B
Cash: $918M
Debt: $7.8B
Diluted EPS (12 months): $3.17

Twelve months to June 30, 2026, from the 10-Q filed July 27, 2026.

Latest twelve months

Over the twelve months to June 30, 2026, Brown & Brown reported revenue of $6.8 billion, up a strong 34.2% from $5.1 billion a year earlier.

Its operating margin was 28.7%, down 1.4 percentage points from a year earlier: for every $100 of sales, about $29 was left as operating profit.

Net income was $1.2 billion (17.7% of revenue), 19.8% higher than a year earlier.

Operating cash flow was $1.5 billion and capital spending $74 million, leaving free cash flow of $1.4 billion (21.3% of revenue).

At the end of the period it held $918 million in cash and $7.8 billion in debt, a net debt position of $6.8 billion.

The diluted share count rose 14.0% in a year, which dilutes existing shareholders.

Five-year trend

Revenue went from $2.6 billion in fiscal 2020 to $5.9 billion in fiscal 2025, about 17.7% a year.
Revenue has grown for 5 fiscal years in a row.
Free cash flow was positive in each of the last 6 fiscal years.

Fiscal year	2021	2022	2023	2024	2025
Revenue	$3.1B	$3.6B	$4.3B	$4.8B	$5.9B
Revenue growth	16.8%	17.1%	19.1%	12.9%	22.8%
Operating margin	—	—	—	—	—
Net income	$587M	$672M	$871M	$993M	$1.1B
Free cash flow	$764M	$829M	$941M	$1.1B	$1.4B
Diluted EPS	$2.07	$2.37	$3.05	$3.46	$3.16

Fiscal years as reported in Brown & Brown’s 10-K filings. Free cash flow is operating cash flow minus capital spending.

Recent SEC filings

8-K filed September 10, 2026 — Regulation FD disclosure
8-K filed August 10, 2026 — Executive or director change
10-Q filed July 27, 2026 — quarterly report
8-K filed July 27, 2026 — Earnings results
8-K filed June 5, 2026 — Material agreement; New debt obligation
8-K filed May 7, 2026 — Executive or director change; Shareholder vote results
10-Q filed April 27, 2026 — quarterly report
8-K filed April 27, 2026 — Earnings results

All Brown & Brown filings on SEC EDGAR

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Questions about Brown & Brown

Is Brown & Brown's revenue growing?

Yes. Revenue for the twelve months to June 30, 2026 was $6.8 billion, up 34.2% from a year earlier, according to its SEC filings.

Is Brown & Brown profitable?

Yes. It earned $1.2 billion in net income over the twelve months to June 30, 2026, a net margin of 17.7%.

Does Brown & Brown have more cash or more debt?

At June 30, 2026 it had $918 million in cash and $7.8 billion in debt, so more debt than cash.

When did Brown & Brown last file financial results?

Its latest quarterly report (10-Q) was filed with the SEC on July 27, 2026.

Which companies are similar to Brown & Brown?

In the S&P 500, Brown & Brown is grouped in Insurance Brokers within the Financials sector. Arthur J. Gallagher & Co. (AJG), Aon plc (AON), Erie Indemnity (ERIE), Marsh McLennan (MRSH), Willis Towers Watson (WTW) are in the same group.

Understand the numbers

Source: Brown & Brown’s filings with the U.S. Securities and Exchange Commission (EDGAR), retrieved September 27, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.