Brown & Brown, Inc. (BRO) Stock

Brown & Brown, Inc. (BRO) is a Financials stock trading at $66.83 (as of 2026-07-15), with a market capitalization of $22.65B and a trailing P/E of 18.6. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Brown & Brown, Inc. markets and sells insurance products and services across the United States and certain international markets, operating through Retail, National Programs, Wholesale Brokerage, and Services segments. It provides property and casualty, employee benefits, and specialty insurance and related services, serving commercial, public entities, professional customers, and individuals through independent agents.

Understand Brown & Brown, Inc.: how it makes money

Brown & Brown markets and sells insurance products and services through segments including Retail, National Programs, Wholesale Brokerage, and Services, earning money primarily through insurance-related commissions and fees.

The profit model is driven by commission and fee revenue tied to placing and servicing insurance needs across multiple business lines, with growth reflected in organic revenue and added revenue from acquisitions.

Revenue by segment (latest quarter)
Retail$1.2B
NatProg$0.3B
WhlBrk$0.2B
Services$0.2B

Business quality (Strong): Good segment structure is stated (Retail, National Programs, Wholesale Brokerage, Services), but the segment revenue inputs provided are labeled as organic revenue and acquisition estimates, so the segment values below include a residual for Services to reconcile to the stated total revenue.

Valuation: At 20× earnings, BRO trades 54% above the Insurance average (13×). Note: one-time items can distort reported P/E.

Bull case

  • Diversified insurance brokerage and service offering across four segments: The company operates through Retail, National Programs, Wholesale Brokerage, and Services, and the Retail segment includes property and casualty, employee benefits, personal and specialties insurance, plus loss control survey and analysis, consultancy, and claims processing services.
  • Broad customer coverage: Retail serves commercial, public and quasi-public entities, professional customers, and individual customers.

Bear case

  • Acquisition-related variability: The provided facts include multiple acquisition-based revenue estimates, including estimated annual revenues from acquisitions and quarter or annualized acquisition revenue, which can introduce timing and integration uncertainty into reported results.
  • Catastrophe and event driven claims processing can affect results: The provided facts reference flood claims processing revenue recorded (Programs) and hurricane claims processing revenue (Programs), which can make revenue sensitive to the timing and recognition of event related claims activity.
  • Legal or operational disruption risk exists: The provided facts reference litigation impacting annual revenue related to a startup broker.
Valuation — source: SEC EDGAR (first-party)
Price$66.83
Market Cap$22.65B
P/E Ratio18.6
EV / EBITDA16.4
Price / Book1.80
Price / Sales3.66
FCF Yield8.4%
DCF Value (model)$60.96
DCF Upside vs Price-8.8%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$5.90B
Net Margin17.9%
Revenue Growth (YoY)22.8%
EPS Growth (YoY)-3.2%
FCF Growth (YoY)26.6%
Financial Health — source: SEC EDGAR
Altman Z-Score1.47 (distress)
Valuation vs Sector & Industry
Stock P/E18.6
Sector P/E (Financials)15.3
Industry P/E (Insurance)13.0
vs Sector21.6%
vs Industry43.0%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($3.00B)
Institutional Holders Tracked10
Congressional Trades (recent)10
Company
SectorFinancials
IndustryInsurance
CEOJ. Powell Brown
Employees17,403
CountryUS
IPO Date1981-02-11

Related Companies (Business model: Insurance Brokerage / Risk Advisory; 8 closest by market cap; US-domiciled)

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  • Enact Holdings, Inc. (ACT)
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BRO earnings history · BRO institutional & insider holders · BRO KPIs & operating metrics · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-07-15.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.