Brown & Brown, Inc.
Profit after direct costs
Core business profitability
Bottom line profitability
Top line growth rate
Flow of revenue through cost categories to net income
| Item | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | YoY Change |
|---|---|---|---|---|---|---|---|
Total Revenue | 3.05B | 3.56B | 4.20B | 4.71B | 5.96B | 26.6% | |
| Cost of Revenue | (1.64B) | (1.82B) | (2.19B) | (2.41B) | (734.00M) | -69.5% | |
Gross Profit | 1.41B | 1.75B | 2.01B | 2.30B | 5.22B | 127.1% | |
| Operating Expenses | |||||||
| Research & Development | — | — | — | — | — | — | |
| Selling, General & Administrative | — | — | — | — | — | — | |
| Depreciation & Amortization | (152.90M) | (186.00M) | (206.00M) | (222.00M) | (367.00M) | 65.3% | |
Operating Income (EBIT) | 854.70M | 963.00M | 1.16B | 1.37B | 1.70B | 24.0% | |
| Non-Operating Items | |||||||
| Interest Income | — | — | — | — | 139.00M | — | |
| Interest Expense | (65.00M) | (148.00M) | (197.00M) | (201.00M) | (297.00M) | 47.8% | |
| Other Income/Expenses (Net) | -91.90M | -87.00M | -10.00M | -64.00M | -324.00M | 406.3% | |
Income Before Tax | 762.80M | 876.00M | 1.15B | 1.30B | 1.37B | 5.2% | |
| Income Tax Expense | (175.70M) | (204.30M) | (275.60M) | (301.00M) | (304.00M) | 1.0% | |
Net Income | 587.10M | 671.80M | 870.50M | 993.00M | 1.05B | 6.1% | |
| Per Share Metrics | |||||||
| Earnings Per Share (Basic) | $2 | $2 | $3 | $3 | $3 | -2.3% | |
| Weighted Avg Shares Outstanding | 276.02M | 278.10M | 280.80M | 282.00M | 310.00M | 9.9% | |
| Weighted Avg Shares Outstanding (Diluted) | 277.41M | 278.60M | 280.80M | 284.00M | 313.00M | 10.2% | |
EBITDA | 980.70M | 1.21B | 1.55B | 1.73B | 2.04B | 17.9% |
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