BROWN & BROWN, INC.
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BRO Q4 2025 request
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/api/financials?ticker=BRO&year=2025&quarter=4
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| Metric | Q4 2025 | Q4 2024 | YoY |
|---|---|---|---|
| Insurance Commissions And Fees | 1,580 | 1,160 | +36.2% |
| Investment And Other Income | 27 | 23 | +17.4% |
| Revenue | 1,607 | 1,183 | +35.8% |
Show Business Segments breakouts |
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| Retail · Operating Segments | 919 | 636 | +44.5% |
| Specialty Distribution · Operating Segments | 678 | 534 | +27.0% |
Show Geography breakouts |
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| GB | 147 | 137 | +7.3% |
| Other | 58 | 42 | +38.1% |
| Other International Countries | 205 | 179 | +14.5% |
| US | 1,402 | 1,004 | +39.6% |
Show Consolidation Items breakouts |
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| Corporate Non Segment | 10 | 13 | -23.1% |
| Material Reconciling Items | 10 | 13 | -23.1% |
| Operating Segments | 1,597 | 1,170 | +36.5% |
| Employee Compensation And Benefits | 819 | 583 | +40.5% |
Show Business Segments breakouts |
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| Retail · Operating Segments | 522 | 344 | +51.7% |
| Specialty Distribution · Operating Segments | 266 | 202 | +31.7% |
| Other Cost And Expense Operating | 287 | 211 | +36.0% |
Show Business Segments breakouts |
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| Retail · Operating Segments | 168 | 115 | +46.1% |
| Specialty Distribution · Operating Segments | 137 | 110 | +24.5% |
| Gain Loss On Disposition Of Assets1 | 1 | -1 | +200.0% |
Show Business Segments breakouts |
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| Retail · Operating Segments | 1 | -1 | +200.0% |
| Adjustment For Amortization | 116 | 47 | +146.8% |
| Depreciation | 18 | 11 | +63.6% |
| Interest Expense | 100 | 46 | +117.4% |
Show Business Segments breakouts |
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| Retail · Operating Segments | 9 | 15 | -40.0% |
| Specialty Distribution · Operating Segments | 11 | 9 | +22.2% |
| Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1 | 7 | 11 | -36.4% |
Show Business Segments breakouts |
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| Retail · Operating Segments | -5 | 10 | -150.0% |
| Specialty Distribution · Operating Segments | 12 | 1 | +1100.0% |
| Operating Expenses And Nonoperating Expenses | 1,286 | 908 | +41.6% |
| Income Before Taxes | 321 | 275 | +16.7% |
Show Business Segments breakouts |
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| Retail · Operating Segments | 132 | 114 | +15.8% |
| Specialty Distribution · Operating Segments | 211 | 194 | +8.8% |
Show Consolidation Items breakouts |
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| Corporate Non Segment | -22 | -33 | +33.3% |
| Operating Segments | 343 | 308 | +11.4% |
| Income Tax Expense (Benefit) | 53 | 64 | -17.2% |
| Net Income | 268 | 211 | +27.0% |
| Net Income Loss Attributable To Noncontrolling Interest | 4 | 1 | +300.0% |
| Net Income | 264 | 210 | +25.7% |
| EPS (Basic) | 0.78 | 0.73 | +6.8% |
| EPS (Diluted) | 0.59 | 0.73 | -19.2% |
| Revenue (Q) | — | — | — |
Show Product Lines breakouts |
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| Core Commission Revenue | 1,031 | 777 | +32.7% |
| Core Commission Revenue · Retail | 612 | 434 | +41.0% |
| Core Commission Revenue · Specialty Distribution | 419 | 342 | +22.5% |
| Earned premium | 26 | 25 | +4.0% |
| Earned premium · Specialty Distribution | 26 | 25 | +4.0% |
| Fee Revenue | 400 | 276 | +44.9% |
| Fee Revenue · Material Reconciling Items | 0 | 0 | — |
| Fee Revenue · Retail | 241 | 162 | +48.8% |
| Fee Revenue · Specialty Distribution | 159 | 114 | +39.5% |
| Other Supplemental Commissions Revenue | 29 | 26 | +11.5% |
| Other Supplemental Commissions Revenue · Retail | 25 | 23 | +8.7% |
| Other Supplemental Commissions Revenue · Specialty Distribution | 4 | 3 | +33.3% |
| Profit-Sharing Contingent Commission Revenue | 94 | 56 | +67.9% |
| Profit-Sharing Contingent Commission Revenue · Retail | 32 | 14 | +128.6% |
| Profit-Sharing Contingent Commission Revenue · Specialty Distribution | 62 | 42 | +47.6% |
| Comprehensive Income | 274 | -24 | +1241.7% |
| Wtd Avg Shares (Basic) | 8 | 1 | +700.0% |
| Wtd Avg Shares (Diluted) | 9 | 1 | +800.0% |
| Depreciation And Amortization (Q) | — | — | — |
Show Business Segments breakouts |
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| Retail · Operating Segments | 92 | 39 | +135.9% |
| Specialty Distribution · Operating Segments | 41 | 18 | +127.8% |
| Net Income Loss Available To Common Stockholders Basic | 261 | 207 | +26.1% |
Balance Sheet
| Metric | Q4 2025 | Q4 2024 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents | 1,079 | 675 | +59.9% |
| Fiduciary Cash Current | 2,471 | 1,827 | +35.2% |
| Commission Fees And Other Receivable | 1,438 | 895 | +60.7% |
| Fiduciary Receivables Current | 1,515 | 1,116 | +35.8% |
| Reinsurance Recoverables Gross | 647 | 1,527 | -57.6% |
| Prepaid Reinsurance Premiums | 980 | 520 | +88.5% |
Show Subsegments breakouts |
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| Captive Insurance Facility | 426 | — | — |
| Wright National Flood Insurance Company | 553 | 520 | +6.3% |
| Other Assets Current | 484 | 364 | +33.0% |
| Total Current Assets | 8,614 | 6,924 | +24.4% |
| Non-Current Assets | |||
| Property, Plant & Equipment | 367 | 319 | +15.0% |
| Operating Lease Right-of-Use Assets | 269 | 200 | +34.5% |
| Goodwill | 15,087 | 7,970 | +89.3% |
Show Business Segments breakouts |
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| Retail | 9,173 | 5,436 | +68.7% |
| Specialty Distribution | 5,914 | 2,534 | +133.4% |
| Intangible Assets | 4,906 | 1,814 | +170.5% |
| Other Non-Current Assets | 748 | 385 | +94.3% |
| Total Assets | 29,991 | 17,612 | +70.3% |
Show Consolidated Entities breakouts |
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| Variable Interest Entity Primary Beneficiary | 1,153 | — | — |
| Current Liabilities | |||
| Fiduciary Liabilities Current | 3,986 | 2,943 | +35.4% |
| Liability For Claims And Claims Adjustment Expense | 671 | 1,543 | -56.5% |
| Unearned Premiums | 1,053 | 577 | +82.5% |
Show Subsegments breakouts |
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| Captive Insurance Facility | 499 | 57 | +775.4% |
| Accounts Payable | 990 | 373 | +165.4% |
| Accrued Liabilities | 875 | 653 | +34.0% |
| Current Portion of Long-Term Debt | 719 | 225 | +219.6% |
| Total Current Liabilities | 8,294 | 6,314 | +31.4% |
| Deferred Revenue (Current) | 127 | 80 | +58.8% |
| Non-Current Liabilities | |||
| Long-Term Debt | 6,894 | 3,599 | +91.6% |
| Operating Lease Liabilities | 243 | 189 | +28.6% |
| Deferred Tax Liabilities | 815 | 711 | +14.6% |
| Other Non-Current Liabilities | 1,172 | 362 | +223.8% |
| Long-Term Debt | 7,613 | 3,824 | +99.1% |
Show Credit Facility breakouts |
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| Revolving Credit Facility | 100 | 250 | -60.0% |
| Term Loan | 532 | 756 | -29.6% |
| Total Liabilities (Q) | — | — | — |
Show Consolidated Entities breakouts |
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| Variable Interest Entity Primary Beneficiary | 1,151 | — | — |
| Contract With Customer Liability Noncurrent | 41 | 39 | +5.1% |
| Stockholders' Equity | |||
| Common Stock | 36 | 31 | +16.1% |
| Additional Paid In Capital Common Stock | 6,160 | 1,118 | +451.0% |
| Treasury Stock Value | -848 | -748 | -13.4% |
| Accumulated Other Comprehensive Income | 210 | -109 | +292.7% |
| Minority Interest | 26 | 17 | +52.9% |
| Retained Earnings | 6,989 | 6,128 | +14.1% |
| Stockholders Equity Including Portion Attributable To Noncontrolling Interest | 12,573 | 6,437 | +95.3% |
Show Equity Components breakouts |
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| Accumulated Other Comprehensive Income | 210 | -109 | +292.7% |
| Additional Paid In Capital | 6,160 | 1,118 | +451.0% |
| Common Stock | 36 | 31 | +16.1% |
| Noncontrolling Interest | 26 | 17 | +52.9% |
| Retained Earnings | 6,989 | 6,128 | +14.1% |
| Treasury Stock Common | -848 | -748 | -13.4% |
| Total Liabilities & Equity | 29,991 | 17,612 | +70.3% |
Cash Flow Statement
| Metric | YTD Q4 2025 | YTD Q4 2024 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Adjustment For Amortization Excluding Accretion Amortization Of Debt Discounts And Premiums Investments | 116 | 47 | +146.8% |
| Stock-Based Compensation | 17 | 24 | -29.2% |
| Deferred Income Taxes | -25 | 24 | -204.2% |
| Net Loss Gain On Sales Of Investments Fixed Assets And Customer Accounts | 1 | 0 | — |
| Payments On Acquisition Earn Outs In Excess Of Original Estimated Payables | -2 | -2 | 0.0% |
| Other Operating Activities Cash Flow Statement | 1 | 2 | -50.0% |
| Increase Decrease In Premiums Commission And Fees Receivable | -36 | 25 | -244.0% |
| Increase Decrease In Reinsurance Recoverable | 166 | 509 | -67.4% |
| Increase Decrease In Prepaid Reinsurance Premiums | -190 | 19 | -1100.0% |
| Increase Decrease In Other Operating Assets | -21 | -17 | -23.5% |
| Increase Decrease For Loss And Loss Adjustment Expense | -160 | -502 | +68.1% |
| Increase Decrease In Unearned Premiums | 162 | -48 | +437.5% |
| Change in Accounts Payable | 106 | -38 | +378.9% |
| Increase Decrease In Accrued Liabilities And Other Operating Liabilities | 59 | 52 | +13.5% |
| Net Cash from Operations | 444 | 361 | +23.0% |
| Investing Activities | |||
| Capital Expenditures | -20 | -20 | 0.0% |
| Payments To Acquire Businesses Net Of Cash Acquired | -195 | -772 | +74.7% |
| Proceeds From Sales Of Businesses Fixed Assets And Customer Accounts | -1 | 10 | -110.0% |
| Other Investing Activities | 3 | 3 | 0.0% |
| Net Cash from Investing | -213 | -779 | +72.7% |
| Financing Activities | |||
| Fiduciary Receivables And Liabilities Net | 198 | 108 | +83.3% |
| Payments On Acquisition Earn Outs | -66 | -17 | -288.2% |
| Proceeds From Issuance Of Long Term Debt | 0 | 0 | — |
| Repayments Of Long Term Debt | -19 | -19 | 0.0% |
| Debt Issuance Costs | 1 | 0 | — |
| Proceeds From Lines Of Credit | 0 | 350 | -100.0% |
| Repayments Of Lines Of Credit | -100 | -100 | 0.0% |
| Proceeds From Stock Options Exercised | 5 | 0 | — |
| Repurchase Of Stock Benefit Plan Shares For Employees To Fund Tax Withholdings | 0 | -1 | +100.0% |
| Payments Of Dividends | -56 | -43 | -30.2% |
| Proceeds From Payments For Other Financing Activities | -1 | -1 | 0.0% |
| Net Cash from Financing | -138 | 277 | -149.8% |
| Supplemental | |||
| Income Taxes Paid | 52 | 13 | +300.0% |
| Interest Paid | 140 | 33 | +324.2% |
| Other Cash Flow | |||
| Net Change in Cash | 91 | -199 | +145.7% |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | 3,815 | 2,502 | +52.5% |
Values in millions USD. Source: SEC EDGAR 10-K filing.