Brown & Brown (BRO) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Brown & Brown

NYSE•Financial Services•Insurance Brokers

$71.88+2.12(0.03%)Pre-market

Market Cap

$23.36B

P/E

19.2x

P/S

3.4x

P/B

1.9x

Brown & Brown, Inc. markets and sells insurance products and services in the United States, the United Kingdom, and internationally. It operates through Retail and Specialty Distribution segments. The Retail segment provides property and casualty insurance products, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control surveys and analysis, consulting, and claims processing services. This segment also offers non-insurance services and products through automobile and recreational vehicle dealer services businesses. It serves commercial, public and quasi-public entities, professionals, and individual customers. The Specialty Distribution segment comprises wholesale brokerage and specialty businesses. This segment offers professional liability and related package insurance products for dentistry, legal, eyecare, financial services, physicians, and real estate title professionals, as well as supplementary insurance products related to weddings, events, medical facilities, and cyber liabilities. This segment also provides public entity-related and specialty programs through a network of independent agents, as well as program management services for insurance carrier partners. In addition, the company's wholesale brokerage businesses underwrite and place excess and surplus commercial and personal lines insurance through independent agents and brokers. Its program businesses operate under the Arrowhead Programs name. The company was formerly known as Poe & Brown, Inc. and changed its name to Brown & Brown, Inc. in April 1999. Brown & Brown, Inc. was founded in 1939 and is headquartered in Daytona Beach, Florida.

How this company scores

GoodMetricSide Score: 77/100

Strongest: Cash & Earnings Quality (23/25); weakest: Balance Sheet & Red Flags (14/25).

Profitability18/25

Growth22/25

Balance Sheet & Red Flags14/25

Cash & Earnings Quality23/25

Strengths

Growing revenueStrong marginsRising earningsCash-backed earnings

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 19.2x5y range 17.4x – 34.1x

Currently below its 20-quarter median.

P/S · 3.4x5y range 3.1x – 7.1x

Currently below its 20-quarter median.

P/B · 1.9x5y range 1.7x – 5.1x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Watch

Operating margins declined 8.0% — watch for continued compression, which may signal competitive or cost pressure.

Share Dilution

Red Flag

Shares outstanding increased 14.8% — significant dilution, likely from stock compensation or capital raises.

Price & Volume

Market Cap $23.36B

Metrics at a Glance

as of September 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $6.91B
Q. Revenue: $1.73B
TTM EBITDA: $1.56B
TTM Op. Income: $1.56B
Q. Op. Income: $320.00M
TTM Net Income: $1.22B
Q. Net Income: $240.00M
EPS: $0.73
Shares Out.: $325.00M

$6.91B in TTM revenue grew 26.1% YoY, reaching $1.73B last quarter. TTM EBITDA of $1.56B and TTM operating income of $1.56B show growth is flowing through to the bottom line. TTM net income of $1.22B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 18.6%
Op. Margin: 18.6%
Net Margin: 13.9%

Op. margin of 18.6% is down 0.8% YoY — costs are rising relative to revenue. Net margin at 13.9% Across the last 8 quarters, operating margin has fallen for 2 consecutive quarters — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 19.2x
P/S Ratio: 3.4x
P/B Ratio: 1.9x

At 19.2x P/E, the stock trades within typical market levels. P/S of 3.4x and P/B of 1.9x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 38% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $29.45B
Cash: $1.10B
Long-Term Debt: $7.35B
Book Value: $12.60B
D/E Ratio: 0.6
Debt/EBITDA: 23.0

With $29.45B in assets and $7.35B in long-term debt, D/E is 0.6and book value is $12.60B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has risen for 2 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $532.00M
TTM Free Cash Flow: $1.49B
FCF Margin: 21.5%
FCF / Net Income: 1.2

TTM FCF of $1.49B on $532.00M in operating cash flow. The FCF / Net Income ratio of 1.2x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 5 consecutive quarters — an improving trend.