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Friday 6 November 2026 Export BRO’s income statement to Excel — free account

Brown & Brown, Inc.

BRO Financial Insurance Brokers

Brown & Brown, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $5.9 billion, up 22.8% from fiscal 2024.

Revenue
+7.41%
EPS
+9.04%
Free cash flow
+9.07%
Total debt
+0.40%

Quarter to September 2026, against a year earlier

74.01 0.12 +0.16%
Market cap
$24.7B
P/E
20.3×
Fwd P/E
20.5×
Dividend yield
0.91%
F-score
4/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
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Brown & Brown, Inc. (BRO) Debt to equity

Alert me on Debt to equity

Brown & Brown, Inc.'s debt to equity at the end of the quarter to 30 September 2026 was 0.6×, up 0.0× from fiscal 2025 (0.6×). Over the past ten years it has ranged from 0.4× (fiscal 2017) to 0.9× (fiscal 2022); the current reading is higher than 82% of that period. That is above the Insurance Brokers industry median of 0.5× and above the Financial sector median of 0.2×.

Debt to equity, annual

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Annual newest first

Period Debt to equity Change
FY2025 0.6× 1.92%
FY2024 0.6× (12.68%)
FY2023 0.7× (20.50%)
FY2022 0.9× 77.55%
FY2021 0.5× (13.67%)
FY2020 0.6× 20.27%
FY2019 0.5× (7.57%)
FY2018 0.5× 32.86%
FY2017 0.4× (16.92%)
FY2016 0.5× (14.55%)

Quarterly newest first

Period Debt to equity Change
Sep 2026 0.6× 0.05%
Jun 2026 0.6× (0.77%)
Mar 2026 0.6× 2.43%
Dec 2025 0.6× (2.79%)
43 more quarters

Against its own ten years

Low 0.4× High 0.9×
Ten-year median 0.5×
Current reading's percentile 82

Debt to equity against peers

Company Debt to equity
CRVL CorVel Corp. compare 0.0×
ERIE Erie Indemnity Company compare 0.0×
AJG Arthur J. Gallagher & Co. compare 0.5×
BRO Brown & Brown, Inc. 0.6×
WTW Willis Towers Watson Public Limited Company compare 0.8×
MRSH Marsh compare 1.3×
BWIN Baldwin Insurance Group, Inc. compare 1.7×
AON Aon plc compare 2.7×
RYAN Ryan Specialty Holdings Inc. compare 4.1×
Insurance Brokers industry median 0.5×
Financial sector median 0.2×
Market median 0.1×

What Debt to equity is

Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.

(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)

The full definition of Debt to equity →

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