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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 Q1 2026 filing.

Total Revenue (TTM)$6.4BNet Income (TTM)$1.1BEps Diluted (TTM)$3.11
Latest FilingQ1 2026
Report Date2026-04-27
Market Cap$20.3B
P/E Ratio17.70

Operating Expenses

MetricQ4 '23Q1 '24Q2 '24Q3 '24Q4 '24Q1 '25
Compensation and benefits—$29M$23M$24M—$26M
Depreciation and amortization$11M$11M$11M$14M$18M$17M
Occupancy and equipment—$14M$16M$18M—$21M
Other operating expenses$516M$186M$211M$276M$287M$289M

Earnings Per Share

MetricQ4 '23Q1 '24Q2 '24Q3 '24Q4 '24Q1 '25
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
Weighted-average shares, basic—283M292M331M—331M
Weighted-average shares, diluted—285M293M332M—337M

Other Income & Expense

MetricQ4 '23Q1 '24Q2 '24Q3 '24Q4 '24Q1 '25
Gain (loss) on disposal of assets$1M-$2M——-$1M$1M
Interest expense$46M$46M$51M$100M$100M$99M
Other income (expense), net$4M$0$1M-$6M$12M-$1M

Income Before Tax

MetricQ4 '23Q1 '24Q2 '24Q3 '24Q4 '24Q1 '25
Income before income taxes$275M$427M$311M$311M$321M$533M

Tax

MetricQ4 '23Q1 '24Q2 '24Q3 '24Q4 '24Q1 '25
Income tax expense$64M$93M$77M$82M$53M$106M

Net Income

MetricQ4 '23Q1 '24Q2 '24Q3 '24Q4 '24Q1 '25
Net income attributable to noncontrolling interests—$3M$3M$2M—$1M
Net income$210M$331M$231M$227M$264M$426M

Revenue

MetricQ4 '23Q1 '24Q2 '24Q3 '24Q4 '24Q1 '25
Net premiums earned—$19M$17M$21M—$22M
Fee income$1.2B$1.4B$1.2B$1.6B$1.6B$1.9B
Net premiums written—$24M$56M——$18M
Total revenue$1.2B$1.4B$1.3B$1.6B$1.6B$1.9B

Other

MetricQ4 '23Q1 '24Q2 '24Q3 '24Q4 '24Q1 '25
Additions To Estimated Acquisition Earn Out Payables From New Acquisitions—$5M———$6M
Adjustment For Amortization$47M$53M$50M$93M$116M$116M
Adjustment For Amortization Excluding Accretion Amortization Of Debt Discounts And Premiums Investments—$53M$50M$93M—$116M
Asset Retirement Obligation Accretion Expense—$2M$2M$1M—$6M
Assumed Acquisition Earn Out Payables—$0———$8M
Assumed Estimated Acquisition Earn Out Payables—$0—$439M—$8M
Business Acquisition Earn Out Payable After Change In Additions And Payments—$146M$135M$566M—$390M
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1$11M-$4M$11M$11M$7M$5M
Business Combination Foreign Currency Translation Adjustments—$1M$5M-$2M—-$2M
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Including Exchange Rate Effect and Discontinued Operation—-$62M$8.5B——-$157M
Change In Fair Value Estimated Acquisition Earn Out Payables—$6M-$9M-$10M—$1M
Cash dividend per common share (in dollars per share)—$0.15$0.15$0.15—$0.17
Comprehensive Income (Loss), Net of Tax, Attributable to Parent—$455M$478M$165M—$344M
Deferred taxes$24M-$10M$28M$20M-$25M$80M
Depreciation$11M$11M$11M$14M$18M$17M
Dividends Cash—$43M$43M$50M—$57M
Employee Compensation And Benefits$583M$683M$640M$793M$819M$907M
Fiduciary Receivables And Liabilities Net—$90M-$209M$264M—$76M
Gain (Loss) on Disposition of Assets$1M-$2M——-$1M$1M
Gain On Mark To Market Of Escrow Liability—————-$64M
Goodwill Additions—$56M$81M$6.6B—$27M
Foreign Currency Translation and Other Adjustments—$91M$177M——-$54M
Purchase Price Adjustments—-$1M-$4M——$16M
Income Taxes Paid, Net—$14M$254M$51M—$14M
Increase Decrease For Loss And Loss Adjustment Expense—-$1.1B-$62M-$45M—-$60M
Accounts payable-$38M$126M-$179M-$100M$106M-$29M
Increase in accrued expenses and other liabilities$52M-$195M——$59M-$184M
Loss and loss adjustment expense reserves—$0$0$0—$0
Increase (Decrease) in Other Operating Assets$17M-$35M$46M$12M$21M-$25M
Other liabilities—$6M$9M$26M$19M$7M
Increase Decrease In Premiums Commission And Fees Receivable—$180M———$142M
Increase (Decrease) in Prepaid Reinsurance Premiums—-$40M$49M-$17M—-$110M
Increase (Decrease) in Reinsurance Recoverable—-$1.1B-$62M-$48M—-$57M
Unearned premiums—-$35M$90M——-$116M
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)—$2M———$2M
Interest Paid, Excluding Capitalized Interest, Operating Activity—$58M$32M$54M—$53M
Investment And Other Income$23M$19M$36M$56M$27M$21M
Investment and other (expense) income, net$22M$18M$35M$55M—$18M
Lease Cost—$15M$17M$19M—$22M
Mark To Market Of Escrow Liability$0$0$54M$8M-$62M-$64M
Maximum Operating Lease Expiration Term—204100.0%———204100.0%
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation—-$218M$8.2B——-$354M
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation-$779M-$79M-$108M-$7.5B-$213M-$38M
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation$361M$213M$325M$468M$444M$262M
Net Income Attributable To Unvested Awarded Performance Stock—-$4M-$3M-$2M—-$5M
Net Income Loss Attributable To Noncontrolling Interest—$3M$3M$2M—$1M
Net Loss Gain On Sales Of Investments Fixed Assets And Customer Accounts—-$2M———$1M
Net Non Controlling Interest Value Acquired Disposed—————-$3M
Number of completed acquisitions—13.0016.008.00—8.00
Number of reportable segments—3.00—2.00—2.00
Operating Expenses And Nonoperating Expenses$908M$977M$974M$1.3B$1.3B$1.4B
Operating Lease Payments—$16M$17M$19M—$21M
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax—$124M$247M-$62M—-$82M
Foreign currency translation gains (losses)—$124M$247M-$62M—-$82M
Membership and other income$1M$1M$1M$1M$4M$3M
All other operating activities$2M$2M—$3M$1M$3M
Other Payable Issued For Agency Acquisitions And Purchased Customer Accounts—$4M$6M$689M—$1M
Payments For Estimated Acquisition Earn Out Payables—$26M$20M$32M—$165M
Payment for (Proceeds from) Other Investing Activity-$3M$4M———$0
Payments for Repurchase of Common Stock$0$0———$250M
Payments of Dividends$43M$43M$43M$51M$56M$57M
Payments On Acquisition Earn Outs—$26M$19M$32M—$150M
Payments On Acquisition Earn Outs In Excess Of Original Estimated Payables—$0$1M——$15M
Payments to Acquire Businesses, Net of Cash Acquired$772M$67M$94M$7.5B$195M$17M
Payments to Acquire Property, Plant, and Equipment$20M$17M$15M$16M$20M$21M
Premiums Written, Net—$24M$56M——$18M
Proceeds from revolver$350M$150M—$300M—$225M
Financing — other—$0$1M-$6M-$1M-$1M
Proceeds From Sales Of Businesses Fixed Assets And Customer Accounts—$9M$1M——$0
Recorded Earn Out Payable—$5M$12M$7M—$6M
Repayments of Long-Term Debt$19M$169M$19M$18M$19M$19M
Repurchase Of Stock Benefit Plan Shares For Employees To Fund Tax Withholdings—$40M$1M$1M—$26M
Repurchase Shares To Fund Tax Withholdings For Non Cash Stock Based Compensation Value—$40M$1M——$26M
Right Of Use Asset Obtained In Exchange For Operating Lease Liability—$6M$9M$15M—$7M
Stock-based compensation$24M$29M$23M$24M$17M$26M
Stock Issued During Period Value Acquisitions———$612M—$5M
Issuance of common stock under benefit plans—$25M$20M$19M—$20M
Stock issued for employee stock purchase plan—$4M$3M$46M—$6M
Stock Repurchased During Period Shares—————3.6M
Treasury stock, value, acquired—————$250M
Variable Lease Cost—$1M$2M$1M—$1M
Weighted Average Number Of Shares Issued Basic—$286M$295M$334M—$335M