Brown & Brown (BRO) stock
Financials · Insurance Brokers
Brown & Brown (BRO) is an Insurance Brokers company in the Financials sector, headquartered in Daytona Beach, Florida. As of October 23, 2026, BRO closed at $72.97, a market capitalization of $24.42 billion, the 364th largest company in the S&P 500. Over the last twelve months it generated $6.66 billion in revenue (+32% year over year) and $1.45 billion in free cash flow. The stock trades at 23.0x trailing earnings and 15.1x forward earnings.
- 1-year total return: -17.0% (dividends reinvested)
- 5-year return: +2.6% a year
- 52-week range: $53.81 – $89.05
- Gross margin 56.3%, operating margin 41.8%
- Dividend yield: 0.90%, 32 straight years of increases
- FI Handbook report card: C+ across 10 metrics
- 60th largest of 76 Financials stocks in the S&P 500
BRO price chart
1Y price change: -17.8% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| BRO | +18.3% | -7.8% | -17.0% | +3.8% | +2.6% | +15.5% | +15.7% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1981.
BRO key statistics
- Market cap
- $24.4B
- #364 in S&P 500
- P/E (TTM)
- 23.0x
- Forward P/E
- 15.1x
- EPS (TTM)
- $3.17
- Revenue (TTM)
- $6.7B
- +32%
- Free cash flow
- $1.4B
- Gross margin
- 56.3%
- Operating margin
- 41.8%
- Return on equity
- 10.0%
- Dividend yield
- 0.90%
- 52-week range
- $53.81 – $89.05
- Beta
- 0.59
- Price / sales
- 3.7x
- EV / EBITDA
- 10.9x
- Debt / equity
- 0.64x
- Employees
- 22,888
BRO report card
C+Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth32.4%A
- Gross margin56.3%B
- Operating margin41.8%A
- FCF margin21.7%B
- Return on equity10.0%C
- Net debt / EBITDA2.5xD
- Forward P/E15.1xB
- PEG ratio1.9xC
- Shareholder yield1.3%D
- Share count change / yr2.6%F
Brown & Brown financials
Revenue went from $1.8B in fiscal 2016 to $5.9B in fiscal 2025, growing 14.3% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.8B | $1.9B | $2.0B | $2.4B | $2.6B | $3.1B | $3.6B | $4.3B | $4.8B | $5.9B |
| Net income | $257.5M | $399.6M | $344.3M | $398.5M | $480.5M | $587.1M | $672.0M | $871.0M | $993.0M | $1.1B |
| EPS (diluted) | $0.91 | $1.40 | $1.22 | $1.40 | $1.69 | $2.07 | $2.37 | $3.05 | $3.46 | $3.16 |
| Free cash flow | — | $417.8M | $526.0M | $605.1M | $642.3M | $763.8M | $829.0M | $941.0M | $1.1B | $1.4B |
| Buybacks | $18.9M | $128.6M | $91.3M | $58.7M | $55.1M | $82.6M | $74.0M | $0 | $0 | $100.0M |
| Dividends paid | $70.3M | $77.7M | $84.7M | $91.3M | $100.6M | $107.2M | $120.0M | $135.0M | $154.0M | $193.0M |
| Diluted shares | 275.6M | 277.6M | 275.5M | 274,616 | 275.8M | 277.4M | 279.0M | 281.0M | 284.0M | 313.0M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into BRO?
A reverse DCF asks what growth the current price requires. With an enterprise value of $31.6B and $1.4B of trailing free cash flow, Brown & Brown needs to grow free cash flow about 12.8% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 16.6% a year over the last five years.
P/E ratio history
Current 23.1x vs. median 24.0x (10th–90th percentile 18.7x–32.7x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
BRO dividend
- Dividend yield
- 0.90%
- Annual dividend
- $0.66
- Years of increases
- 32
- 5-yr dividend growth
- 12.1%
- per year
- Payout ratio
- 20%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
BRO earnings
Next report: October 26, 2026. Last quarter's revenue was $1.7B (+32% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 27, 2026 | $1.07 | $1.07 | -0.4% |
| Apr 27, 2026 | $1.36 | $1.39 | +2.3% |
| Jan 26, 2026 | $0.90 | $0.93 | +3.3% |
| Oct 27, 2025 | $0.93 | $1.05 | +12.9% |
| Jul 28, 2025 | $0.99 | $1.03 | +4.5% |
| Apr 28, 2025 | $1.30 | $1.29 | -0.5% |
| Jan 27, 2025 | $0.77 | $0.86 | +12.1% |
| Oct 28, 2024 | $0.88 | $0.91 | +3.8% |
Stocks like BRO
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
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 AON Aon | -1.07% | -11% | $64.4B | 16.7x | Compare |
 WTW Willis Towers Watson Public Lim | -2.16% | -1% | $30.2B | 20.1x | Compare |
 ERIE Erie Indemnity | -1.28% | -20% | $13.3B | 23.0x | Compare |
 BRK-B Berkshire Hathaway | -0.87% | +11% | $1.2T | 13.6x | Compare |
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 V Visa | -1.55% | +19% | $765.8B | 34.7x | Compare |
BRO news
- Brown & Brown (BRO) Q3 earnings: what to expect · Oct 25, 2026
- Is a Beat in the Cards for Brown & Brown This Earnings Season? · Oct 22, 2026
- Introducing Brown & Brown COMPASS, a connected intelligence ecosystem designed to improve insurance decision-making · Oct 22, 2026
- Brown & Brown, Inc. announces 9% increase in quarterly cash dividend rate · Oct 21, 2026
- Curious about Brown & Brown (BRO) Q3 Performance? Explore Wall Street Estimates for Key Metrics · Oct 21, 2026
BRO stock FAQ
What is BRO's market cap?
Brown & Brown's market capitalization is $24.42 billion as of October 23, 2026, ranking 364th in the S&P 500.
What is BRO's P/E ratio?
BRO trades at a trailing price-to-earnings ratio of 23.0x and a forward P/E of 15.1x. Its median P/E over the period we track is 24.0x.
Does BRO pay a dividend?
Yes. Brown & Brown pays $0.66 per share a year, a 0.90% yield. It has raised its dividend 32 years in a row. Dividends grew 12.1% a year over the last five years.
How much has BRO stock returned?
Including reinvested dividends, BRO returned -17.0% over one year, +2.6% a year over five years, +15.5% a year over ten years through October 23, 2026.
Is BRO stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Brown & Brown must grow free cash flow about 13% a year for the next decade. Its free cash flow grew 17% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
When does BRO report earnings?
Brown & Brown is expected to report earnings on October 26, 2026.
How many employees does Brown & Brown have?
Brown & Brown has about 22,888 full-time employees, or $291,113 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology