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Brown & Brown BRO Specialty Distribution — Goodwill Adjustment And Acquired Net

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Other financials

Income statement

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Revenue$1.9B+35.4%
Net income$426.0M+28.7%
EPS (diluted)$1.06-7.8%

Balance sheet

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Cash & equivalents$1.0B+49.9%
Total debt$8.1B+101%
Total equity$5.6B+21.1%
Total assets$29.7B+77.2%

Cash flow

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Operating cash flow$262.0M+23.0%
CapEx$21.0M+23.5%
Free cash flow$241.0M+23.0%

Valuation

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Market cap$21.74B-34.2%
Enterprise value$28.86B-21.7%
P/E18.9×-13.1×
P/S3.4×-3.3×

Profitability

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Net margin17.9%-2.9pp
FCF margin22.3%-3.7pp

Returns & leverage

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Return on equity17.1%+1.8pp
Debt / equity0.7×-0.2×
Current ratio-0.2×

Where this comes from

Reported directly by Brown & Brown in its filing.

Tagged under the XBRL concept bro:GoodwillAdjustmentAndAcquiredNet.

The official record: Brown & Brown’s 10-K, filed February 12, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Brown & Brown's specialty distribution — goodwill adjustment and acquired net?
Brown & Brown (BRO) reported specialty distribution — goodwill adjustment and acquired net of $832.75M in Q4 2025.
What does specialty distribution — goodwill adjustment and acquired net mean?
Captures the net change in goodwill for the Specialty Distribution segment, including new goodwill from acquisitions and subsequent purchase accounting adjustments. This metric tracks the long-term intangible value added to the segment through its M&A strategy. It is a primary indicator of the scale and frequency of the segment's inorganic expansion.