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Brown & Brown Cash Flow Statement

Operating, investing, and financing cash movements

Brown & Brown generated $1.5B in operating cash flow over the trailing twelve months. After $72.0M in capital expenditures, free cash flow was $1.4B. Free cash flow increased 0.1% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$1.5BNet Cash From Investing (TTM)-$7.9BNet Cash From Financing-$354.0MCapital Expenditures (TTM)$72.0MDepreciation And Amortization Cf (TTM)$60.0MNet Change In Cash (TTM)$711.0M
Latest FilingQ1 2026
Report Date2026-04-27
Market Cap$20.3B
P/E Ratio17.70

Investing

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Acquisitions, net of cash acquired$7.5B$195M$17M———
Capital expenditures$16M$20M$21M———
Payment for (Proceeds from) Other Investing Activity——$0———
Proceeds From Sales Of Businesses Fixed Assets And Customer Accounts——$0———
Net cash from investing activities-$7.5B-$213M-$38M———
Other investing activities——$0———

Operating

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Change in accounts payable-$100M$106M-$29M———
Change in accrued liabilities—$59M-$184M———
Change in other assets$12M$21M-$25M———
Change in other liabilities$26M$19M$7M———
Other working capital changes$3M$1M$3M———
Change in unearned premiums—$162M-$116M———
Change in fair value of contingent consideration$11M$7M$5M———
Deferred income taxes$20M-$25M$80M———
Depreciation and amortization$14M$18M$17M———
Net cash from operating activities$468M$444M$262M———
Net income$229M$268M$427M———
Adjustment For Amortization Excluding Accretion Amortization Of Debt Discounts And Premiums Investments$93M$116M$116M———
Contingent consideration fair value adjustments$11M$7M$5M———
Depreciation$14M$18M$17M———
Increase Decrease For Loss And Loss Adjustment Expense-$45M-$160M-$60M———
Accrued expenses and other liabilities—$59M-$184M———
Increase (Decrease) in Other Operating Assets$12M$21M-$25M———
Increase Decrease In Premiums Commission And Fees Receivable—$36M$142M———
Increase Decrease In Prepaid Reinsurance Premiums-$17M$190M-$110M———
Increase (Decrease) in Reinsurance Recoverable-$48M-$166M-$57M———
Unearned premiums—$162M-$116M———
Mark To Market Of Escrow Liability$8M-$62M-$64M———
Net Loss Gain On Sales Of Investments Fixed Assets And Customer Accounts—-$1M$1M———
Payments On Acquisition Earn Outs In Excess Of Original Estimated Payables$34M$2M$15M———
Stock-based compensation$24M$17M$26M———

Financing

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Proceeds from issuance of debt——$225M———
Repayments of debt$18M$19M$19M———
Dividends paid$51M$56M$57M———
Fiduciary Receivables And Liabilities Net$264M-$198M$76M———
Payments On Acquisition Earn Outs$32M$66M$150M———
Other, net-$6M-$1M-$1M———
Repurchase Of Stock Benefit Plan Shares For Employees To Fund Tax Withholdings$1M$13M$26M———
Net cash from financing activities——-$354M———
Other financing activities-$6M-$1M-$1M———
Payment of debt issuance costs$1M—$9M$9M$9M$9M
Proceeds from issuance of common stock$0$0$1.1B$1.1B$1.1B$1.1B
Repurchases of common stock——$250M———

Free Cash Flow

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Free cash flow$452M$424M$241M———

Other

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Net increase (decrease) in cash—$91M-$157M———
Effect Of Foreign Exchange Rate Cash Changes In Cash Cash Equivalents And Restricted Cash Inclusive Of Fiduciary——-$27M———