The full income statement, balance sheet, and cash-flow statement for Brown & Brown Inc. (BRO), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 5.90B+22.8% | 4.80B+12.9% | 4.26B+19.1% | 3.57B+17.1% | 3.05B+16.8% | |
| Total operating expenses | — | — | 3.11B+15.3% | 2.70B+17.9% | 2.29B+15.0% | |
| Interest expense | 297M+53.9% | 193M+1.6% | 190M+34.8% | 141M+116.9% | 65.0M+10.2% | |
| Pre-tax income | 1.37B+5.2% | 1.30B+13.7% | 1.15B+30.8% | 876M+14.8% | 763M+22.2% | |
| Income tax | 304M+1.0% | 301M+9.5% | 275M+34.8% | 204M+16.1% | 176M+22.4% | |
| 1.05B+6.1% | 993M+14.0% | 871M+29.6% | 672M+14.5% | 587M+22.2% | ||
| Net income to non-controlling interest | 13.0M+44.4% | 9.00M | — | — | — | |
| Net income to common | 1.04B+6.3% | 981M+14.3% | 858M+30.2% | 659M+14.8% | 574M+23.4% | |
| $3.16-8.7% | $3.46+13.4% | $3.05+28.7% | $2.37+14.5% | $2.07+22.5% | ||
| EPS (basic) | $3.37-3.2% | $3.48+13.4% | $3.07+29.0% | $2.38+14.4% | $2.08+22.4% | |
| Weighted-avg shares (basic) | 310M+9.9% | 282M+0.7% | 280M+0.7% | 278M+0.7% | 276M+0.6% | |
| Weighted-avg shares (diluted) | 313M+10.2% | 284M+1.1% | 281M+0.7% | 279M+0.6% | 277M+0.6% | |
| Dividends per share | $0.62+14.8% | $0.54+12.5% | $0.48+14.3% | $0.42+10.5% | $0.38+8.6% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 8.61B+24.4% | 6.92B+35.0% | 5.13B+2.7% | 5.00B+50.0% | 3.33B+12.6% | ||
| Cash & equivalents | 1.08B+59.9% | 675M-3.6% | 700M+7.7% | 650M-6.2% | 693M-15.2% | |
| Short-term investments | — | 10.0M-9.1% | 11.0M-8.3% | 12.0M-7.0% | 12.9M-29.6% | |
| Other current assets | 484M+33.0% | 364M+15.9% | 314M+55.2% | 202M+15.2% | 176M+18.9% | |
| 30.0B+70.3% | 17.6B+18.3% | 14.9B+6.5% | 14.0B+42.7% | 9.80B+9.2% | ||
| Property, plant & equipment | 367M+15.0% | 319M+18.1% | 270M+12.5% | 240M+13.2% | 212M+5.4% | |
| Operating lease right-of-use | 269M+34.5% | 200M+0.5% | 199M-7.4% | 215M+9.1% | 197M+5.3% | |
| Goodwill | 15.1B+89.3% | 7.97B+8.6% | 7.34B+10.0% | 6.67B+40.9% | 4.74B+7.8% | |
| Intangible assets | 4.91B+170.5% | 1.81B+11.9% | 1.62B+1.6% | 1.60B+47.5% | 1.08B+3.0% | |
| Other non-current assets | 748M+94.3% | 385M+27.9% | 301M+30.4% | 231M+11.7% | 207M+38.3% | |
| 8.29B+31.4% | 6.31B+27.4% | 4.96B+7.8% | 4.60B+72.3% | 2.67B+13.3% | ||
| Accounts payable | 990M+165.4% | 373M-18.7% | 459M+60.2% | 287M+18.0% | 243M+27.4% | |
| Accrued liabilities | 875M+34.0% | 653M+7.4% | 608M+12.3% | 542M+18.7% | 456M+22.7% | |
| Deferred revenue | 127M+58.8% | 80.0M+2.6% | 78.0M-2.4% | 79.9M+18.5% | 67.4M+24.8% | |
| Short-term & current debt | 719M+219.6% | 225M-60.5% | 569M+127.1% | 251M+489.6% | 42.5M-39.3% | |
| Current lease liability | 62.0M+31.9% | 47.0M+4.4% | 45.0M+0.0% | 45.0M+3.7% | 43.4M-0.3% | |
| 17.4B+55.9% | 11.2B+20.1% | 9.30B | — | — | ||
| Long-term debt | 6.89B+91.6% | 3.60B+11.5% | 3.23B-12.6% | 3.69B+86.4% | 1.98B-2.2% | |
| Deferred revenue (non-current) | 41.0M+5.1% | 39.0M+11.4% | 35.0M+4.8% | 33.4M+9.5% | 30.5M+13.0% | |
| Non-current lease liability | 243M+28.6% | 189M+5.6% | 179M-8.6% | 196M+8.8% | 180M+4.1% | |
| Operating lease liability (total) | 305M+29.2% | 236M+5.4% | 224M-7.0% | 241M+7.8% | 223M+3.2% | |
| Deferred tax liabilities | 815M+14.6% | 711M+15.4% | 616M+5.5% | 584M+51.0% | 387M+12.4% | |
| Other non-current liabilities | 1.17B+223.8% | 362M+11.0% | 326M+9.1% | 299M-22.1% | 384M+21.9% | |
| 12.5B+95.4% | 6.42B+15.1% | 5.58B+21.1% | 4.61B+9.8% | 4.20B+11.8% | ||
| Common stock | 36.0M+16.1% | 31.0M+3.3% | 30.0M-1.0% | 30.3M+0.7% | 30.1M+0.4% | |
| Additional paid-in capital | 6.16B+451.0% | 1.12B+8.9% | 1.03B+11.7% | 920M+8.3% | 849M+6.9% | |
| Retained earnings | 6.99B+14.1% | 6.13B+15.9% | 5.29B+16.2% | 4.55B+13.8% | 4.00B+13.6% | |
| Treasury stock | 848M+13.4% | 748M+0.0% | 748M+0.0% | 748M+11.0% | 674M+14.0% | |
| Accumulated other comprehensive income | 210M+292.7% | -109M-473.7% | -19.0M+87.2% | -148M-1478.7% | -9.40M | |
| Non-controlling interest | 26.0M+52.9% | 17.0M | — | — | — | |
| Total equity incl. non-controlling | 12.6B+95.3% | 6.44B+15.4% | 5.58B+21.1% | 4.61B+9.7% | 4.20B+11.8% | |
| Total liabilities & equity | 30.0B+70.3% | 17.6B+18.3% | 14.9B+6.5% | 14.0B+42.7% | 9.80B+9.2% | |
| Common shares issued | 357M+16.7% | 306M+0.7% | 304M+0.4% | 303M+0.6% | 301M+0.4% | |
| Common shares outstanding | 336M+17.5% | 286M+0.4% | 285M+0.6% | 283M+0.2% | 283M-0.2% | |
| Shares outstanding (cover) | 340M+19.1% | 286M+0.0% | 286M+0.5% | 284M+0.7% | 282M+0.0% | |
| Treasury shares | 21.0M+5.0% | 20.0M+0.0% | 20.0M+1.5% | 19.7M+6.5% | 18.5M+10.9% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 1.45B+23.5% | 1.17B+16.2% | 1.01B+14.6% | 881M+8.9% | 809M+13.4% | ||
| Depreciation & amortization | 367M+65.3% | 222M+7.8% | 206M+10.8% | 186M+21.6% | 153M+13.4% | |
| Share-based compensation | 93.0M-7.9% | 101M+13.5% | 89.0M+34.8% | 66.0M+8.2% | 61.0M+2.2% | |
| Deferred income taxes | -7.00M-153.8% | 13.0M+8.3% | 12.0M-72.1% | 43.0M+28.0% | 33.6M+110.0% | |
| Change in payables | 11.0M+123.4% | -47.0M-118.1% | 260M+109.7% | 124M+127.9% | 54.4M-51.3% | |
| Other operating activities | 6.00M+20.0% | 5.00M+0.0% | 5.00M+66.7% | 3.00M | — | |
| -7.91B-781.3% | -898M-53.0% | -587M+69.3% | -1.91B-382.1% | -397M+47.7% | ||
| Capital expenditure | 68.0M-17.1% | 82.0M+18.8% | 69.0M+32.7% | 52.0M+15.6% | 45.0M-36.4% | |
| Free cash flow | 1.38B+26.6% | 1.09B+16.0% | 941M+13.5% | 829M+8.5% | 764M+18.9% | |
| Acquisitions | 7.85B+782.5% | 890M+41.0% | 631M-67.3% | 1.93B+425.6% | 367M-47.2% | |
| Purchases of investments | — | 7.00M+0.0% | 7.00M+6900.0% | 100K-99.2% | 12.4M-12.7% | |
| Sales/maturities of investments | — | 11.0M-15.4% | 13.0M+85.7% | 7.00M-35.2% | 10.8M-1.8% | |
| Other investing activities | 1.00M+125.0% | -4.00M+33.3% | -6.00M | — | — | |
| 7.71B+12151.6% | -64.0M+65.8% | -187M-110.8% | 1.73B+921.5% | -210M-159.2% | ||
| Long-term debt issued | 4.19B+599.8% | 599M | 0.00-100.0% | 2.00B | 0.00-100.0% | |
| Long-term debt repaid | 225M-68.7% | 719M+186.5% | 251M+311.5% | 61.0M-16.6% | 73.1M+32.9% | |
| Common stock issued | 4.32B | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 100M | 0.00 | 0.00-100.0% | 74.0M-10.4% | 82.6M+49.9% | |
| Dividends paid | 193M+25.3% | 154M+14.1% | 135M+12.5% | 120M+11.9% | 107M+6.6% | |
| Other financing activities | -6.00M-400.0% | 2.00M | 0.00+100.0% | -5.00M | — | |
| Net change in cash | 1.31B+559.8% | 199M-26.3% | 270M-52.0% | 563M+183.9% | 198M-35.8% | |
| Interest paid | 284M+45.6% | 195M+4.8% | 186M+55.0% | 120M+95.1% | 61.5M+17.4% | |
| Income taxes paid | 371M+22.8% | 302M+38.5% | 218M+78.7% | 122M-17.0% | 147M+11.6% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 26.8B-8.2% | 29.2B+44.2% | 20.2B+25.4% | 16.1B-18.7% | 19.9B+48.0% | |
| P/E | 25.4×-13.5% | 29.4×+8.5% | 27.1×+5.4% | 25.7×-24.1% | 33.8×+21.1% | |
| P/S | 4.5×-25.3% | 6.1×+24.0% | 4.9×+3.5% | 4.7×-27.3% | 6.5×+26.7% | |
| P/B | 2.1×-53.0% | 4.5×+16.7% | 3.9×+4.0% | 3.7×-20.9% | 4.7×+32.4% | |
| P/FCF | 19.4×-27.5% | 26.7×+22.3% | 21.8×+18.0% | 18.5×-28.8% | 26.0×+24.4% | |
| Earnings yield | 3.9%+15.6% | 3.4%-7.8% | 3.7%-5.2% | 3.9%+31.7% | 3.0%-17.4% | |
| FCF yield | 5.2%+37.9% | 3.7%-18.3% | 4.6%-15.2% | 5.4%+40.4% | 3.8%-19.6% | |
| Dividend yield | 0.78%+47.0% | 0.53%-21.6% | 0.68%-8.4% | 0.74%+36.3% | 0.54%-26.8% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
Source: BRO’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all BRO filings on SEC EDGAR → Not investment advice.
