Brown & Brown, Inc. (BRO)

Brown & Brown Income Statement

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

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Operating Revenue	4,705	4,199	3,563	3,048	2,606
Other Revenue	7	6	3	2.8	4.5
Revenue	4,712	4,205	3,566	3,050	2,611
Revenue Growth (YoY)	12.06%	17.92%	16.91%	16.84%	9.40%
Cost of Revenue	2,406	2,187	1,817	1,637	1,436
Gross Profit	2,306	2,018	1,749	1,413	1,174
Other Operating Expenses	710	650	597	403	366
Operating Expenses	932	856	783	555.9	500.8
Operating Income	1,374	1,162	966	857.5	673.4
Interest Expense	-193	-190	-141	-65	-59
Interest & Investment Income	93	52	7	1.1	2.8
EBT Excluding Unusual Items	1,274	1,024	832	793.6	617.2
Gain (Loss) on Sale of Assets	31	143	5	9.6	2.4
Other Unusual Items	-2	-21	39	-40.4	4.5
Pretax Income	1,303	1,146	876	762.8	624.1
Income Tax Expense	301	275	204	175.7	143.6
Earnings From Continuing Operations	1,002	871	672	587.1	480.5
Minority Interest in Earnings	-9	-	-	-	-
Net Income	993	871	672	587.1	480.5
Preferred Dividends & Other Adjustments	12	13	13	12.9	15.2
Net Income to Common	981	858	659	574.2	465.3
Net Income Growth	14.01%	29.61%	14.46%	22.18%	20.57%
Shares Outstanding (Basic)	282	280	278	276	274
Shares Outstanding (Diluted)	284	281	279	277	276
Shares Change (YoY)	1.07%	0.72%	0.58%	0.58%	-2.79%
EPS (Basic)	3.48	3.06	2.37	2.08	1.70
EPS (Diluted)	3.46	3.05	2.37	2.07	1.69
EPS Growth	13.44%	28.69%	14.49%	22.48%	20.71%
Free Cash Flow	1,092	941	829	763.8	642.3
Free Cash Flow Per Share	3.85	3.35	2.97	2.75	2.33
Dividend Per Share	0.540	0.480	0.420	0.380	0.350
Dividend Growth	12.50%	14.29%	10.53%	8.57%	6.06%
Gross Margin	48.94%	47.99%	49.05%	46.34%	44.98%
Operating Margin	29.16%	27.63%	27.09%	28.11%	25.80%
Profit Margin	20.82%	20.40%	18.48%	18.82%	17.82%
Free Cash Flow Margin	23.18%	22.38%	23.25%	25.04%	24.60%
EBITDA	1,596	1,368	1,152	1,010	808.2
EBITDA Margin	33.87%	32.53%	32.30%	33.13%	30.96%
D&A For EBITDA	222	206	186	152.9	134.8
EBIT	1,374	1,162	966	857.5	673.4
EBIT Margin	29.16%	27.63%	27.09%	28.11%	25.80%
Effective Tax Rate	23.10%	24.00%	23.29%	23.03%	23.01%
Revenue as Reported	4,805	4,257	3,573	3,051	2,613

Updated Feb 13, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q