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. In the quarter to June 2026, revenue grew 30.4%, EPS grew 8.86%, free cash flow grew 6.75% and total debt rose 2.84%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for twenty-five consecutive years, revenue growth for ten, operating cash flow growth for ten; insiders bought in the last twelve months.
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Brown & Brown, Inc. (BRO) Gross margin
Brown & Brown, Inc.'s gross margin over the twelve months to 30 June 2026 was 50.6%, up 0.3 percentage points from fiscal 2025 (50.3%). Over the past ten years it has ranged from 45.0% (fiscal 2020) to 50.3% (fiscal 2025) — the current reading is the highest in ten years. That is above the Insurance Brokers industry median of 43.0% and below the Financial sector median of 69.9%.
Gross margin, annual
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Annual newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| FY2025 | 50.3% | 0.34 |
| FY2024 | 49.9% | 1.30 |
| FY2023 | 48.6% | (0.52) |
| FY2022 | 49.2% | 2.79 |
| FY2021 | 46.4% | 1.32 |
| FY2020 | 45.0% | (0.27) |
| FY2019 | 45.3% | (1.62) |
| FY2018 | 46.9% | (0.20) |
| FY2017 | 47.1% | (0.50) |
| FY2016 | 47.6% | (0.76) |
Quarterly newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| Jun 2026 | 50.0% | (2.29) |
| Mar 2026 | 52.3% | 3.25 |
| Dec 2025 | 49.0% | (1.58) |
| Sep 2025 | 50.6% | 0.43 |
| 42 more quarters | Free account |
Against its own ten years
Gross margin against peers
| Company | Gross margin |
|---|---|
| WTW Willis Towers Watson Public Limited Company compare | 100.0% |
| ARX Accelerant Holdings compare | 100.0% |
| MRSH Marsh compare | 100.0% |
| BRO Brown & Brown, Inc. | 50.6% |
| AON Aon plc compare | 48.6% |
| AJG Arthur J. Gallagher & Co. compare | 43.0% |
| BWIN Baldwin Insurance Group, Inc. compare | 30.3% |
| CRVL CorVel Corp. compare | 24.8% |
| ERIE Erie Indemnity Company compare | 17.9% |
| Insurance Brokers industry median | 43.0% |
| Financial sector median | 69.9% |
| Market median | 46.2% |
What Gross margin is
Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.
Gross Profit ÷ Revenue
More on BRO
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- The full statement