BRO · XBRL financial data

Brown & Brown financial statements, every fiscal year

The same tables from 7 filings, lined up. Matched by XBRL tag: renamed lines keep their history.

How these numbers work

Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
* marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
0 means a filing states zero; a dash (—) means no filing states that number.
“year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
Shares outstanding come from each filing's cover page, as of the date printed there.
Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.

Income statement

Fiscal years (BRO's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Revenue	2,613	3,051	3,573	4,257	4,805	5,902
Total operating expenses	1,989	2,289	2,697	3,111	—	—
Interest expense	59	65	141	190	193	297
Income tax expense (benefit)	144	176	204	276	301	304
Net income (loss)	480	587	672	871	993	1,054
Earnings per share, basic USD per share	1.70	2.08	2.38	3.07	3.48	3.37
Earnings per share, diluted USD per share	1.69	2.07	2.37	3.05	3.46	3.16
Weighted average shares, basic millions of shares	274	0	278	280	282	310
Weighted average shares, diluted millions of shares	276	0	279	281	284	313

Fiscal years (BRO's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Cash and cash equivalents	817	887	650	700	675	1,079
Short-term investments	18	13	12	11	10	—
Marketable securities	—	7	6	11	—	—
Total current assets	2,958	3,330	4,996	5,130	6,924	8,614
Property and equipment, net	201	212	240	270	319	367
Right-of-use asset	187	197	215	199	200	269
Goodwill	4,396	4,737	6,674	7,341	7,970	15,087
Total assets	8,966	9,795	13,974	14,883	17,612	29,991
Accounts payable	190	206	287	459	373	990
Accrued liabilities	372	456	542	608	653	875
Current portion of long-term debt	70	43	251	569	225	719
Total current liabilities	2,354	2,667	4,597	4,957	6,314	8,294
Long-term debt	2,026	1,980	3,692	3,227	3,599	6,894
Lease liability, non-current	173	180	196	179	189	243
Retained earnings	3,521	4,001	4,553	5,289	6,128	6,989
Total stockholders' equity	3,754	4,197	4,607	5,579	—	—
Total liabilities and equity	8,966	9,795	13,974	14,883	17,612	29,991
Common shares outstanding (cover page) millions of shares	282	282	284	286	286	340

Fiscal years (BRO's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Net income (loss)	480	587	672	871	993	1,054
Stock-based compensation	60	61	66	89	101	93
Net cash from operating activities	722	942	881	1,010	1,174	1,450
Purchases of property and equipment	71	45	53	69	82	68
Net cash from investing activities	(759)	(397)	(1,913)	(587)	(898)	(7,914)
Proceeds from issuing common stock	—	—	—	0	0	4,315
Share repurchases	55	83	74	0	0	100
Dividends paid	101	107	120	135	154	193
Proceeds from long-term debt	700	—	2,000	0	599	4,192
Repayments of long-term debt	55	73	61	251	719	225
Net cash from financing activities	346	(344)	1,725	(187)	(64)	7,713
Net change in cash	309	198	563	270	199	1,313

SIC 6411 and related industry codes, similar size. Each row is the latest quarter reported.

How peers are chosen

SIC 6411 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
Runway shows only for companies burning cash with under $10B of public float.
* marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.

Company	Cash ($M)	Revenue, quarter ($M)	Operating cash flow, quarter ($M)	Shares outstanding	Runway	Quarter
Brown & Brown	1,099	1,725	532*	331.7M	—	Q3 FY26 10-QSep 30, 2026
Willis Towers Watson	1,946	2,404	739*	92.2M	—	Q3 FY26 10-QSep 30, 2026
Equitable Holdings	17,183	1,658	643*	273.0M	—	Q2 FY26 10-QJun 30, 2026
Arthur J. Gallagher	1,386	4,003	10*	256.3M	—	Q2 FY26 10-QJun 30, 2026
Aon	2,017	4,101	1,191*	212.2M	—	Q3 FY26 10-QSep 30, 2026
Marsh & McLennan Companies	1,842	6,863	1,478*	475.5M	—	Q3 FY26 10-QSep 30, 2026
Erie Indemnity	363	1,070	213*	not reported	—	Q3 FY26 10-QSep 30, 2026
Ryan Specialty Holdings	169	775	181*	not reported	—	Q3 FY26 10-QSep 30, 2026
Accelerant Holdings	1,573	357	(69)*	not reported	22.9 quarters	Q2 FY26 10-QJun 30, 2026

Not investment advice. Not affiliated with the U.S. SEC.