BRONYSEInsurance Agents, Brokers & ServiceFiscal year ends January 19
BROWN & BROWN, INC.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 27, 2026
$69.22−0.18 (-0.26%)
Close on Oct 19, 2026
- Market cap
- $23.12B
- P/E (TTM)
- 20.7
- Dividend yield
- 0.90%
Margins
Share of revenue, fiscal years 2011 to 2025
Net margin
17.9%−0.5 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +22.8% | +18.2% | +17.7% | +13.5% | |
| Net income | +6.1% | +16.2% | +17.0% | +15.8% | |
| EPS, diluted | -8.7% | +10.1% | +13.3% | +14.0% | |
| Free cash flow | +26.6% | +18.6% | +16.6% | +14.3% | |
| Dividend per share | +14.8% | +13.9% | +12.1% | +77.0% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 11.4% | 13.5% | – | |
| Return on assets | 5.0% | 5.8% | 4.4% | |
| Current ratio | 1.20 | 1.26 | 1.04 | |
| Debt to equity | 0.45 | 0.56 | – | |
| Capex to revenue | 1.0% | 2.7% | 1.2% | |
| Diluted shares | 276M | 276M | 313M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Brown & Brown generated $5.32B from operations and spent $1.28B on capital expenditure, dividends and share buybacks. 25% of that went back into the business.
Generated
$5.32B
Used
$1.28B
Capital expenditure$316.00M25%Dividends$709.20M55%Share buybacks$256.60M20%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin20.5%
×Asset turnover0.30×
×Equity multiplier2.83×
=Return on equity, FY202317.1%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2023 | 20.5% | 0.30× | 2.83× | 17.1% |
| FY2022 | 18.8% | 0.30× | 2.70× | 15.3% |
| FY2021 | 19.2% | 0.33× | 2.36× | 14.8% |
| FY2020 | 18.4% | 0.32× | 2.33× | 13.5% |
| FY2019 | 16.7% | 0.33× | 2.25× | 12.5% |
| FY2018 | 17.1% | 0.32× | 2.23× | 12.3% |
| FY2017 | 21.2% | 0.34× | 2.23× | 16.2% |
| FY2016 | 14.6% | 0.34× | 2.27× | 11.4% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$1.05B
- Cash generatingOperating cash flow above zero$1.45B
- Return on assets improvedROA up on the prior year6.7% → 6.0%
- Earnings backed by cashOperating cash flow above net income$1.45B vs $1.05B
- Less leverageLong-term debt to assets fell20.4% → 23.0%
- Better liquidityCurrent ratio rose1.10 → 1.04
- No dilutionShare count did not rise284M → 313M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.32 → 0.34