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)
- $6.9B
- Revenue growth
- +26.1%
- Operating margin
- 28.3%
- Net income (12 months)
- $1.2B
- Free cash flow (12 months)
- $1.5B
- Cash
- $1.1B
- Debt
- $7.8B
- Diluted EPS (12 months)
- $3.16
Twelve months to September 30, 2026, from the 10-Q filed October 26, 2026.
Latest twelve months
Over the twelve months to September 30, 2026, Brown & Brown reported revenue of $6.9 billion, up a strong 26.1% from $5.5 billion a year earlier.
Its operating margin was 28.3%: for every $100 of sales, about $28 was left as operating profit.
Net income was $1.2 billion (17.6% of revenue), 21.9% higher than a year earlier.
Operating cash flow was $1.6 billion and capital spending $97 million, leaving free cash flow of $1.5 billion (21.5% of revenue).
At the end of the period it held $1.1 billion in cash and $7.8 billion in debt, a net debt position of $6.7 billion.
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
- 10-Q filed October 26, 2026 — quarterly report
- 8-K filed October 26, 2026 — Earnings results
- 8-K filed October 22, 2026 — Executive or director change
- 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
Companies like Brown & Brown
Other S&P 500 companies in Insurance Brokers:
- AJGArthur J. Gallagher & Co.Rolling Meadows, Illinois
- AONAon plcLondon, United Kingdom
- ERIEErie IndemnityErie, Pennsylvania
- MRSHMarsh McLennanNew York City, New York
- WTWWillis Towers WatsonLondon, United Kingdom
More from Financials
Questions about Brown & Brown
Is Brown & Brown's revenue growing?
Yes. Revenue for the twelve months to September 30, 2026 was $6.9 billion, up 26.1% 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 September 30, 2026, a net margin of 17.6%.
Does Brown & Brown have more cash or more debt?
At September 30, 2026 it had $1.1 billion 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 October 26, 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 November 11, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.