Brown & Brown, Inc.

  • Earnings Score
  • Moat Score
  • Safety Score
  • Final Score
  • Market Cap $31.49B
  • PE 32
  • Debt $4.05B
  • Cash $2.50B
  • EV $33.04B
  • FCF $1.09B

Earnings

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Sales & Net Margins

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Earnings$981.00M
EBIT$1.30B
ROE15%
ROA7%
FCF$1.09B
Equity$6.44B
Growth Stability100%
PE32.1
PEG1.54
PB4.89
P/FCF28.84
P/S6.55
Price/Cash0.08
Debt/Equity0.63
Debt/FCF3.71
Net Margins20%
Op. Margins27%
Earnings CAGR17%
Sales Growth YoY15%
Sales Growth QoQ-0%
Sales CAGR13%
FCF CAGR14%
Equity CAGR12%
Earnings Stability0.94
Earnings Growth YoY-22%
Earnings Growth QoQ-10%
Earnings CAGR 5Y21%
Sales CAGR 5Y16%
FCF CAGR 5Y9%
Equity CAGR 5Y14%
Earnings CAGR 3Y17%
Sales CAGR 3Y17%
FCF CAGR 3Y9%
Equity CAGR 3Y18%
Market Cap$31.49B
Revenue$4.81B
Dividend Yield0%
Payout Ratio16%
Assets$17.61B
Total Debt$4.05B
Cash$2.50B
Shares Outstanding281.9M
EV33.04B
Earnings Score95%
Moat Score91%
Safety Score89%
Final Score92%
Working Capital610M
Current Ratio1.1
Shares Growth 3y1%
Equity Growth QoQ-1%
Equity Growth YoY15%

Assets & ROA

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Stockholders Equity & ROE

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Brown & Brown Inc is an insurance agent and broker that offers insurance products and services, primarily in the areas of property, casualty, and employee benefits, by connecting customers with insurance companies. It earns its revenue via commissions from insurance companies and direct fees from customers, and it generally has no underwriting risk exposure. More than half of its revenue is from its retail segment, which provides a broad range of insurance products and services to entities and individuals. Roughly a fourth of revenue is from its national programs segment, which provides, among other things, professional liability coverage for professionals. The company operates primarily in the United States, with its highest exposure in Florida.

SEC Filings

Direct access to Brown & Brown, Inc. (BRO) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

  • 2024
    • 10-K Dec 31
    • 10-Q Sep 30
    • 10-Q Jun 30
    • 10-Q Mar 31
  • 2023
    • 10-K Dec 31
    • 10-Q Sep 30
    • 10-Q Jun 30
    • 10-Q Mar 31
  • 2022
    • 10-K Dec 31
    • 10-Q Sep 30
    • 10-Q Jun 30
    • 10-Q Mar 31

Sector Comparison

How does Brown & Brown, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Brown & Brown, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 17%
Stability 94%
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Brown & Brown, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Brown & Brown, Inc..

= $29B
012345678910TV
fcf$1.1B$1.2B$1.4B$1.6B$1.8B$2.1B$2.4B$2.7B$3.1B$3.5B$4B$40B
DCF$1.1B$1.2B$1.2B$1.3B$1.3B$1.3B$1.4B$1.4B$1.5B$1.5B$15B
Value$29B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years12/201512/201612/201712/201812/201912/202012/202112/202212/202312/2024TTM
Net Margins14%14%21%17%16%18%19%18%20%20%20%
ROA-9%8%8%8%8%8%6%8%7%7%
ROE-11%15%11%12%12%14%14%15%15%15%

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years12/201512/201612/201712/201812/201912/202012/202112/202212/202312/2024TTM
Debt over FCF-3.162.622.962.663.332.35.064.643.713.71
Debt over Equity0.570.480.420.520.480.580.490.910.780.630.63
Growth Stability---100%100%100%100%100%100%100%100%

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years12/201512/201612/201712/201812/201912/202012/202112/202212/202312/2024CAGR 5Y
Revenue YoY growth-6%6%7%19%9%17%17%19%13%16%
Earnings YoY growth-6%55%-14%15%21%23%15%30%14%21%
Equity YoY growth-10%9%16%12%12%12%10%21%15%14%
FCF YoY growth--9%17%26%15%8%38%-8%13%16%9%