Brown & Brown Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	5,902	4,805	4,257	3,573	3,051
Revenue Growth (YoY)	22.83%	12.87%	19.14%	17.09%	16.76%
Cost of Revenue	2,935	2,406	2,187	1,817	1,637
Gross Profit	2,967	2,399	2,070	1,756	1,415
Depreciation & Amortization Expenses	367	222	206	186	152.9
Other Operating Expenses	959	710	650	597	403
Total Operating Expenses	1,326	932	856	783	555.9
Operating Income	1,641	1,467	1,214	973	858.6
Interest Income	139	100	58	7	1.1
Interest Expense	-297	-193	-190	-141	-65
Other Non-Operating Income (Expense)	27	29	122	47	-28
Total Non-Operating Income (Expense)	-131	-64	-10	-87	-91.9
Pretax Income	1,371	1,303	1,146	876	762.8
Provision for Income Taxes	304	301	275	204	175.7
Net Income	1,054	993	871	672	587.1
Minority Interest in Earnings	13	9	-	-	-
Net Income to Common	1,054	993	871	672	587.1
Net Income Growth	6.14%	14.01%	29.61%	14.46%	22.18%
Shares Outstanding (Basic)	310	282	280	278	276
Shares Outstanding (Diluted)	313	284	281	279	277
Shares Change (YoY)	10.21%	1.07%	0.72%	0.58%	0.58%
EPS (Basic)	3.37	3.48	3.07	2.38	2.08
EPS (Diluted)	3.16	3.46	3.05	2.37	2.07
EPS Growth	-8.67%	13.44%	28.69%	14.49%	21.77%
Shares Outstanding	336	286	284.58	283.22	282.5
Free Cash Flow	1,382	1,092	941	829	763.8
Free Cash Flow Growth	26.56%	16.05%	13.51%	8.54%	18.92%
Free Cash Flow Per Share	4.42	3.85	3.35	2.97	2.75
Dividends Per Share	0.615	0.540	0.480	0.420	0.380
Dividend Growth	13.89%	12.50%	14.29%	10.53%	8.57%
Gross Margin	50.27%	49.93%	48.63%	49.15%	46.36%
Operating Margin	27.80%	30.53%	28.52%	27.23%	28.14%
Profit Margin	18.08%	20.85%	20.46%	18.81%	19.24%
FCF Margin	23.42%	22.73%	22.10%	23.20%	25.03%
EBITDA	2,008	1,689	1,420	1,159	1,014
EBITDA Margin	34.02%	35.15%	33.36%	32.44%	33.24%
EBIT	1,641	1,467	1,214	973	858.6
EBIT Margin	27.80%	30.53%	28.52%	27.23%	28.14%
Effective Tax Rate	22.17%	23.10%	24.00%	23.29%	23.03%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

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