Stocktoria

BROWN & BROWN, INC. BRO

NYSE · stock · Insurance Agents, Brokers & Service · website · IPO 1997-12-08 · LEI

BROWN & BROWN, INC. statistics & valuation

Market cap$21.8B
P / E20.7×
P / S3.7×
P / B1.7×
P / FCF15.8×
Dividend yield0.89%
Net margin17.9%
Return on equity8.4%
FCF margin23.4%
Net debt$6.5B
Enterprise value USD$28.3B
Graham number -27.4%$51.58

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($51.58); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
14.60% 21.20% 17.10% 16.70% 18.40% 19.20% 18.80% 20.50% 20.70% 17.90% 2016201720182019202020212022202320242025
Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
2016201720182019202020212022202320242025
Return on equity (%)
10.90% 15.50% 11.50% 11.90% 12.80% 14.00% 14.60% 15.60% 15.40% 8.40% 2016201720182019202020212022202320242025
Shares outstanding
275.6M 277.6M 279.6M 281.7M 283.0M 282.5M 283.2M 285.0M 286.0M 336.0M 2016201720182019202020212022202320242025
Net debt ($)
$558.2M $402.8M $1.07B $1.01B $1.44B $1.33B $3.29B $3.10B $3.15B $6.53B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
4.90% 7.00% 5.10% 5.20% 5.40% 6.00% 4.80% 5.90% 5.60% 3.50% 2016201720182019202020212022202320242025
Free cash flow margin (%)
22.30% 22.20% 26.10% 25.30% 24.60% 25.00% 23.20% 22.10% 22.70% 23.40% 2016201720182019202020212022202320242025
Debt / equity (×)
0.45× 0.38× 0.50× 0.46× 0.56× 0.48× 0.86× 0.68× 0.59× 0.61× 2016201720182019202020212022202320242025
EPS ($)
$0.91 $1.40 $1.22 $1.40 $1.69 $2.07 $2.37 $3.05 $3.46 $3.16 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

BROWN & BROWN, INC. trades at about 22.5× earnings — below its 10-year norm (10-year range 18.7×–32.1×, median 25.4×).

18.7× 32.1×

Shaded band = 10-year range (18.7×–32.1×); dot = today's 22.5×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Net margin17.9%20.7%20.5%18.8%19.2%18.4%16.7%17.1%21.2%14.6%
FCF margin23.4%22.7%22.1%23.2%25.0%24.6%25.3%26.1%22.2%22.3%
Return on assets3.5%5.6%5.9%4.8%6.0%5.4%5.2%5.1%7.0%4.9%
Return on equity8.4%15.4%15.6%14.6%14.0%12.8%11.9%11.5%15.5%10.9%
Debt / equity0.61×0.59×0.68×0.86×0.48×0.56×0.46×0.50×0.38×0.45×
Current ratio1.041.101.041.091.251.261.221.221.131.20

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.