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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

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisitions, net of cash acquired$772M$67M$94M$7.5B$195M$17M
Capital expenditures$20M$17M$15M$16M$20M$21M
Payment for (Proceeds from) Other Investing Activity-$3M$4M———-$0
Proceeds From Sales Of Businesses Fixed Assets And Customer Accounts$10M$9M$1M——$0
Net cash from investing activities-$779M-$79M-$108M-$7.5B-$213M-$38M
Other investing activities-$3M$4M———-$0

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Change in accounts payable-$38M$126M—-$100M$106M-$29M
Change in accrued liabilities$52M-$195M——$59M-$184M
Change in other assets$17M-$35M$46M$12M$21M-$25M
Change in other liabilities—$6M$9M$26M$19M$7M
Other working capital changes$2M$2M$0$3M$1M$3M
Change in unearned premiums—-$35M$90M—$162M-$116M
Change in fair value of contingent consideration$11M-$4M$11M$11M$7M$5M
Deferred income taxes$24M-$10M—$20M-$25M$80M
Depreciation and amortization$11M$11M$11M$14M$18M$17M
Net cash from operating activities$361M$213M$325M$468M$444M$262M
Net income$211M$334M$234M$229M$268M$427M
Adjustment For Amortization Excluding Accretion Amortization Of Debt Discounts And Premiums Investments$47M$53M$50M$93M$116M$116M
Contingent consideration fair value adjustments$11M-$4M$11M$11M$7M$5M
Depreciation$11M$11M$11M$14M$18M$17M
Increase Decrease For Loss And Loss Adjustment Expense—-$1.1B-$62M-$45M-$160M-$60M
Accrued expenses and other liabilities$52M-$195M——$59M-$184M
Increase (Decrease) in Other Operating Assets$17M-$35M$46M$12M$21M-$25M
Increase Decrease In Premiums Commission And Fees Receivable—$180M——$36M$142M
Increase Decrease In Prepaid Reinsurance Premiums—-$40M$49M-$17M$190M-$110M
Increase (Decrease) in Reinsurance Recoverable—-$1.1B-$62M-$48M-$166M-$57M
Unearned premiums—-$35M$90M—$162M-$116M
Mark To Market Of Escrow Liability$0$0$0$8M-$62M-$64M
Net Loss Gain On Sales Of Investments Fixed Assets And Customer Accounts—-$2M——-$1M$1M
Payments On Acquisition Earn Outs In Excess Of Original Estimated Payables$2M$0$1M$0$2M$15M
Stock-based compensation$24M$29M$23M$24M$17M$26M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Proceeds from issuance of debt—$150M$4B——$225M
Repayments of debt$19M$169M$19M$18M$19M$19M
Dividends paid$43M$43M$43M$51M$56M$57M
Fiduciary Receivables And Liabilities Net-$108M$90M-$209M$264M-$198M$76M
Payments On Acquisition Earn Outs$17M$26M$19M$32M$66M$150M
Other, net—$0$1M-$6M-$1M-$1M
Repurchase Of Stock Benefit Plan Shares For Employees To Fund Tax Withholdings$1M$40M$1M$1M$0$26M
Net cash from financing activities—-$218M$8.2B——-$354M
Other financing activities—$0$1M-$6M-$1M-$1M
Payment of debt issuance costs$1.3M——$1M——
Proceeds from issuance of common stock-$44M$1.1B$1.1B$1.1B$1.1B—
Repurchases of common stock$0$0———$250M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$341M$196M$310M$452M$424M$241M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net increase (decrease) in cash—-$62M$8.5B—$91M-$157M
Effect Of Foreign Exchange Rate Cash Changes In Cash Cash Equivalents And Restricted Cash Inclusive Of Fiduciary-$3.3M$22M———-$27M