Income StatementBalance SheetCash FlowSegments
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Brown & Brown Income Statement

Revenue, expenses, and profitability over time

Brown & Brown generated $6.4B in trailing twelve-month revenue, up 0.3% year-over-year. Net income was $1.1B with a 17.94% net margin. Diluted EPS is $3.11, which declined 0.1% year-over-year. Based on the Q2 2026 filing.

Total Revenue (TTM)$6.4BNet Income (TTM)$1.1BEps Diluted (TTM)$3.11
Latest FilingQ2 2026
Report Date2026-04-27
Market Cap$19.9B
P/E Ratio17.33

Operating Expenses

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Stock-Based Compensation Expense$24.0M$29.0M$23.0M$24.0M$17.0M$26.0M
Share-Based Compensation Expense$24.0M$29.0M$23.0M$24.0M$17.0M$26.0M
Change in contingent consideration liability$11.0M-$4.0M$11.0M$11.0M$7.0M$5.0M
Goodwill Foreign Currency Translation Gain (Loss)—$91.0M$177.0M——-$54.0M
Operating Lease Cost—$14.0M$16.0M$18.0M—$21.0M
Compensation and benefits—$29.0M$23.0M$24.0M—$26.0M
Accretion Expense—$2.0M$2.0M$1.0M—$6.0M
NBLX Acquisition Impact———$612.0M—$5.0M
Total Lease Cost—$15.0M$17.0M$19.0M—$22.0M
Depreciation and amortization$11.0M$11.0M$11.0M$14.0M$18.0M$17.0M
Other Costs and Expenses$211.0M$186.0M$211.0M$276.0M$287.0M$289.0M
Total Lease Cost—$15.0M$17.0M$19.0M—$22.0M
Operating Lease Cost—$14.0M$16.0M$18.0M—$21.0M
Total Lease Cost—$15.0M$17.0M$19.0M—$22.0M
Other operating charges$211.0M$186.0M$211.0M$276.0M$287.0M$289.0M
Lease Cost—$15.0M$17.0M$19.0M—$22.0M
Operating Lease Cost—$14.0M$16.0M$18.0M—$21.0M
Stock-based compensation expense$24.0M$29.0M$23.0M$24.0M$17.0M$26.0M
Variable Lease Cost—$1.0M$2.0M$1.0M—$1.0M
Contingent consideration fair value adjustment$11.0M-$4.0M$11.0M$11.0M$7.0M$5.0M
Occupancy and equipment—$14.0M$16.0M$18.0M—$21.0M
Other operating expenses—$186.0M$211.0M$276.0M$287.0M$289.0M
Share-Based Compensation$24.0M$29.0M$23.0M$24.0M$17.0M$26.0M
Accretion Expense—$2.0M$2.0M$1.0M—$6.0M
Variable Lease Expense—$1.0M$2.0M$1.0M—$1.0M
Variable Lease Cost—$1.0M$2.0M$1.0M—$1.0M
Lease Costs—$15.0M$17.0M$19.0M—$22.0M
Operating Lease Cost—$14.0M$16.0M$18.0M—$21.0M
Variable Lease Cost—$1.0M$2.0M$1.0M—$1.0M
Variable Lease Cost—$1.0M$2.0M$1.0M—$1.0M

Other

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Common Stock Dividends Per Share (Paid)—$0.2$0.2$0.2—$0.2
Capital Expenditures$20.0M$17.0M$15.0M$16.0M$20.0M$21.0M
Change in Other Liabilities—$6.0M$9.0M$26.0M$19.0M$7.0M
Common Stock Issued for Business Acquisition———$612.0M—$5.0M
Common stock dividends per share cash paid—$0.2$0.2$0.2—$0.2
Other comprehensive income (loss), net of tax—$124.0M$247.0M-$62.0M—-$82.0M
Reclassifications Net of Tax—$327.0M$228.0M$225.0M—$421.0M
Common Stock Dividends Per Share (Cash Paid)—$0.2$0.2$0.2—$0.2
Acquisitions, Net of Cash—$67.0M$94.0M$7.5B—$17.0M
Net Change in Cash and Restricted Cash—-$62.0M$8.5B——-$157.0M
Operating Lease Payments—$16.0M$17.0M$19.0M—$21.0M
ROU Asset Obtained - Operating Lease—$6.0M$9.0M$15.0M—$7.0M
Shares Repurchased—————3.6M
Common Dividends Per Share Paid—$0.2$0.2$0.2—$0.2
Cash Dividend per Common Share—$0.2$0.2$0.2—$0.2
Foreign Currency Translation Gains (Losses)—$124.0M$247.0M-$62.0M—-$82.0M
Number of reportable segments—3.00—2.00—2.00
Other investing activities, net—$4.0M———-$0.0
Income Taxes Paid, Net—$14.0M$254.0M$51.0M—$14.0M
Interest Paid, Net—$58.0M$32.0M$54.0M—$53.0M
OCI Foreign Currency Gain (Loss) Arising During Period, Net of Tax—$124.0M$247.0M-$62.0M—-$82.0M
Additions To Estimated Acquisition Earn Out Payables From New Acquisitions—$5.0M———$6.0M
Adjustment For Amortization Excluding Accretion Amortization Of Debt Discounts And Premiums Investments—$53.0M$50.0M$93.0M—$116.0M
Assumed Acquisition Earn Out Payables—$0.0———$8.0M
Assumed Estimated Acquisition Earn Out Payables—$0.0—$439.0M—$8.0M
Business Acquisition Earn Out Payable After Change In Additions And Payments—$146.0M$135.0M$566.0M—$390.0M
Business Combination Foreign Currency Translation Adjustments—$1.0M$5.0M-$2.0M—-$2.0M
Change In Fair Value Estimated Acquisition Earn Out Payables—$6.0M-$9.0M-$10.0M—$1.0M
Comprehensive Income (Loss), Net of Tax, Attributable to Parent—$455.0M$478.0M$165.0M—$344.0M
Deferred taxes$24.0M-$10.0M—$20.0M-$25.0M$80.0M
Depreciation$11.0M$11.0M$11.0M$14.0M$18.0M$17.0M
Dividends Cash—$43.0M$43.0M$50.0M—$57.0M
Effect Of Foreign Exchange Rate Cash Changes In Cash Cash Equivalents And Restricted Cash Inclusive Of Fiduciary-$3.3M$22.0M———-$27.0M
Employee Compensation And Benefits$583.0M$683.0M$640.0M$793.0M$819.0M$907.0M
Fiduciary Receivables And Liabilities Net—$90.0M-$209.0M$264.0M—$76.0M
Gain (Loss) on Disposition of Assets$1.0M-$2.0M——-$1.0M$1.0M
Gain On Mark To Market Of Escrow Liability—————-$64.0M
Goodwill Additions—$56.0M$81.0M$6.6B—$27.0M
Foreign Currency Translation and Other Adjustments—$91.0M$177.0M——-$54.0M
Purchase Price Adjustments—-$1.0M-$4.0M——$16.0M
Income Taxes Paid, Net—$14.0M$254.0M$51.0M—$14.0M
Increase Decrease For Loss And Loss Adjustment Expense—-$1.1B-$62.0M-$45.0M—-$60.0M
Accounts payable-$38.0M$126.0M—-$100.0M$106.0M-$29.0M
Increase in accrued expenses and other liabilities$52.0M-$195.0M——$59.0M-$184.0M
Loss and loss adjustment expense reserves—$0.0$0.0$0.0—$0.0
Increase (Decrease) in Other Operating Assets$17.0M-$35.0M$46.0M$12.0M$21.0M-$25.0M
Other liabilities—$6.0M$9.0M$26.0M$19.0M$7.0M
Increase Decrease In Premiums Commission And Fees Receivable—$180.0M———$142.0M
Increase (Decrease) in Prepaid Reinsurance Premiums—-$40.0M$49.0M-$17.0M—-$110.0M
Increase (Decrease) in Reinsurance Recoverable—-$1.1B-$62.0M-$48.0M—-$57.0M
Unearned premiums—-$35.0M$90.0M——-$116.0M
Increase In Share Repurchase Program Authorized Amount———$1.3B——
Add - Incremental shares associated with contingently issuable shares (in shares)—01M1M—4M
Incremental Common Shares Attributable to Participating Nonvested Shares with Non-forfeitable Dividend Rights—3M3M3M—4M
Add - Incremental shares under stock-based compensation plans (in shares)—$2.0M———$2.0M
Interest Paid, Excluding Capitalized Interest, Operating Activity—$58.0M$32.0M$54.0M—$53.0M
Investment And Other Income$23.0M$19.0M$36.0M$56.0M$27.0M$21.0M
Investment and other (expense) income, net$22.0M$18.0M$35.0M$55.0M—$18.0M
Mark To Market Of Escrow Liability$0.0$0.0$0.0$8.0M-$62.0M-$64.0M
Maximum Operating Lease Expiration Term—2041.00———2041.00
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation—-$218.0M$8.2B——-$354.0M
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation-$779.0M-$79.0M-$108.0M-$7.5B-$213.0M-$38.0M
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation$361.0M$213.0M$325.0M$468.0M$444.0M$262.0M
Net Income Attributable To Unvested Awarded Performance Stock—-$4.0M-$3.0M-$2.0M—-$5.0M
Net Income Loss Attributable To Noncontrolling Interest—$3.0M$3.0M$2.0M—$1.0M
Net Loss Gain On Sales Of Investments Fixed Assets And Customer Accounts—-$2.0M———$1.0M
Net Non Controlling Interest Value Acquired Disposed—————-$3.0M
Number of completed acquisitions—13.0016.008.00—8.00
Number of reportable segments—$3.0—$2.0—$2.0
Operating Expenses And Nonoperating Expenses$908.0M$977.0M$974.0M$1.3B$1.3B$1.4B
Operating Lease Payments—$16.0M$17.0M$19.0M—$21.0M
Foreign currency translation gains (losses)—$124.0M$247.0M-$62.0M—-$82.0M
Membership and other income$1.0M$1.0M$1.0M$1.0M—$3.0M
All other operating activities$2.0M$2.0M$0.0$3.0M$1.0M$3.0M
Other Payable Issued For Agency Acquisitions And Purchased Customer Accounts—$4.0M$6.0M$689.0M—$1.0M
Payments For Estimated Acquisition Earn Out Payables—$26.0M$20.0M$32.0M—$165.0M
Payment for (Proceeds from) Other Investing Activity-$3.0M$4.0M———-$0.0
Payments for Repurchase of Common Stock$0.0$0.0———$250.0M
Payments of Dividends$43.0M$43.0M$43.0M$51.0M$56.0M$57.0M
Payments On Acquisition Earn Outs—$26.0M$19.0M$32.0M—$150.0M
Payments On Acquisition Earn Outs In Excess Of Original Estimated Payables—$0.0$1.0M——$15.0M
Payments to Acquire Businesses, Net of Cash Acquired$772.0M$67.0M$94.0M$7.5B$195.0M$17.0M
Payments to Acquire Property, Plant, and Equipment$20.0M$17.0M$15.0M$16.0M$20.0M$21.0M
Premiums Written, Net—$24.0M$56.0M——$18.0M
Proceeds from revolver$350.0M$150.0M—$300.0M—$225.0M
Financing — other—$0.0$1.0M-$6.0M-$1.0M-$1.0M
Proceeds From Sales Of Businesses Fixed Assets And Customer Accounts—$9.0M$1.0M——$0.0
Recorded Earn Out Payable—$5.0M$12.0M$7.0M—$6.0M
Repayments of Long-Term Debt$19.0M$169.0M$19.0M$18.0M$19.0M$19.0M
Repurchase Of Stock Benefit Plan Shares For Employees To Fund Tax Withholdings—$40.0M$1.0M$1.0M—$26.0M
Repurchase Shares To Fund Tax Withholdings For Non Cash Stock Based Compensation Value—$40.0M$1.0M——$26.0M
Right Of Use Asset Obtained In Exchange For Operating Lease Liability—$6.0M$9.0M$15.0M—$7.0M
Stock-based compensation$24.0M$29.0M$23.0M$24.0M$17.0M$26.0M
Issuance of common stock under benefit plans—$25.0M$20.0M$19.0M—$20.0M
Stock issued for employee stock purchase plan—$4.0M$3.0M$46.0M—$6.0M
Stock Repurchased During Period Shares—————$3.6M
Treasury stock, value, acquired—————$250.0M
Weighted Average Number Of Shares Issued Basic—$286.0M$295.0M$334.0M—$335.0M
Currency Translation Adjustment, Net of Tax—$124.0M$247.0M-$62.0M—-$82.0M
Foreign Currency Translation Adjustment, Net of Tax—$124.0M$247.0M-$62.0M—-$82.0M
Other Comprehensive Income (Loss)—$455.0M$478.0M$165.0M—$344.0M
Cash Dividends Paid—$43.0M$43.0M$50.0M—$57.0M
Stock Repurchased During Period, Value—$0.0———$250.0M

Earnings Per Share

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Common stock dividends per share cash paid—$0.2$0.2$0.2—$0.2
Dividends Per Share, Cash Paid—$0.2$0.2$0.2—$0.2
Common Stock Dividends Per Share Cash Paid—$0.2$0.2$0.2—$0.2
Basic earnings per share$0.73$1.16$0.79$0.68$0.78$1.27
Diluted earnings per share$0.73$1.15$0.78$0.68$0.59$1.06
Common Stock Dividends Per Share (Cash Paid)—$0.2$0.2$0.2—$0.2
Dividends per common share—$0.2$0.2$0.2—$0.2
Dividends per share, cash paid—$0.15$0.15$0.15—$0.17
Dividends Per Share (Paid)—$0.2$0.2$0.2—$0.2
Common Stock Dividends Per Share (Cash Paid)—$0.2$0.2$0.2—$0.2
Common stock dividends per share cash paid—$0.2$0.2$0.2—$0.2
Common stock dividends per share cash paid—$0.2$0.2$0.2—$0.2
Weighted-average shares, basic—283M292M331M—331M
Weighted-average shares, diluted—285M293M332M—337M

Net Income

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Net income applicable to common shareholders—$327.0M$228.0M$225.0M—$421.0M
Net Income Allocated to Common (Diluted)—$327.0M———$357.0M
Net earnings to common—$327.0M$228.0M$225.0M—$421.0M
Net Income Available to Common Stockholders (Diluted)—$327.0M———$357.0M
Net income attributable to noncontrolling interests—$3.0M$3.0M$2.0M—$1.0M
Net Income Available to Common Shareholders—$327.0M$228.0M$225.0M—$421.0M
Net income$210.0M$331.0M$231.0M$227.0M$264.0M$426.0M
Net income attributable to common stock—$327.0M$228.0M$225.0M—$421.0M

Tax

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Cash Paid for Income Taxes—$14.0M$254.0M$51.0M—$14.0M
Income Taxes Paid, Net—$14.0M$254.0M$51.0M—$14.0M
Income tax expense$64.0M$93.0M$77.0M$82.0M$53.0M$106.0M
Deferred Income Tax Expense (Benefit)—-$10.0M—$20.0M—$80.0M
Income Taxes Paid, Net—$14.0M$254.0M$51.0M—$14.0M
Income and Other Taxes—$14.0M$254.0M$51.0M—$14.0M

Other Income & Expense

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Cash Paid for Interest—$58.0M$32.0M$54.0M—$53.0M
Gain (loss) on disposal of assets$1.0M-$2.0M——-$1.0M$1.0M
Interest expense$46.0M$46.0M$51.0M$100.0M$100.0M$99.0M
Change in Accounts Payable-$38.0M$126.0M—-$100.0M$106.0M-$29.0M
Other income (expense), net—$0.0$1.0M-$6.0M—-$1.0M

Income Before Tax

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Income before income taxes$275.0M$427.0M$311.0M$311.0M$321.0M$533.0M

Revenue

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Net premiums earned—$19.0M$17.0M$21.0M—$22.0M
Fee income$1.2B$1.4B$1.2B$1.6B$1.6B$1.9B
Net premiums written—$24.0M$56.0M——$18.0M
Total revenue$1.2B$1.4B$1.3B$1.6B$1.6B$1.9B
Membership and other income$1.0M$1.0M$1.0M$1.0M—$3.0M