Brp Group, Inc.

BRP

Insurance Agents, Brokers & Service

Mkt Cap

$3.021B

PE

-18.42

Debt

$1.009B

Cash

$227M

EV

$3.803B

FCF

$23.27M

Market Cap

$3.021B

P/E Ratio

-18.42

Debt

$1.009B

Cash

$227M

EV

$3.803B

FCF

$23.27M

Charts data: {"Earnings":[{"time":"2018-12-30","value":-624000},{"time":"2019-12-30","value":-22454000},{"time":"2020-12-30","value":-29885000},{"time":"2021-12-30","value":-58120000},{"time":"2022-12-30","value":-76748000},{"time":"2023-12-30","value":-164019000}],"Sales":[{"time":"2021-12-30","value":567290000},{"time":"2022-12-30","value":980720000},{"time":"2023-12-30","value":1218555000}],"Net Margins":[{"time":"2021-12-30","value":-0.10245200867281284},{"time":"2022-12-30","value":-0.0782567909291133},{"time":"2023-12-30","value":-0.134601228504253}],"Assets":[{"time":"2018-12-30","value":139824614},{"time":"2019-12-30","value":398768000},{"time":"2020-12-30","value":1529914000},{"time":"2021-12-30","value":2876307000},{"time":"2022-12-30","value":3462182000},{"time":"2023-12-30","value":3501937000}],"Stockholders Equity":[{"time":"2018-12-30","value":0},{"time":"2019-12-30","value":237251000},{"time":"2020-12-30","value":769870000},{"time":"2021-12-30","value":1187287000},{"time":"2022-12-30","value":1139552000},{"time":"2023-12-30","value":1018488000}],"ROE":[{"time":"2019-12-30","value":-0.0946423829615049},{"time":"2020-12-30","value":-0.038818242040864044},{"time":"2021-12-30","value":-0.04895193832662195},{"time":"2022-12-30","value":-0.06734927410069923},{"time":"2023-12-30","value":-0.16104166175742865}],"ROA":[{"time":"2018-12-30","value":0.06814966068849652},{"time":"2019-12-30","value":-0.012709144164025198},{"time":"2020-12-30","value":-0.014339368095200122},{"time":"2021-12-30","value":-0.01099534924470858},{"time":"2022-12-30","value":-0.008982196776483733},{"time":"2023-12-30","value":-0.012150704024658354}]}

BRP Group, Inc. markets and sells insurance products and services in the United States. It operates through four segments: Middle Market, Specialty, MainStreet, and Medicare. The Middle Market segment provides commercial risk management, employee benefits solutions, and private risk management for mid-to-large size businesses and high net worth individuals, as well as its families. The Specialty segment delivers specialty insurers, professionals, individuals, and industry businesses the access to specialty markets, as well as capabilities and programs requiring underwriting and placement; and operates as a managing general agent of the Future platform, which delivers proprietary, technology-enabled insurance solutions. The MainStreet segment offers personal insurance, commercial insurance, and life and health solutions to individuals and businesses in its communities. The Medicare segment provides consultation for government assistance programs and solutions, including Medicare and Medicare Advantage to seniors and Medicare-eligible individuals through a network of primarily independent contractor agents. The company was founded in 2011 and is headquartered in Tampa, Florida.

Sector

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DCF

Discounted Cash Flow Valuation of Brp Group, Inc.

Calculate

Growth Years

Growth

Start

End

Discount

Start

End

Multiple

g\r	+10%	+11%	+12%	+13%	+14%
0%	10	9	8	8	7
+1%	11	10	9	8	8
+2%	13	11	10	9	8
+3%	14	13	11	10	9
+4%	17	14	12	11	10

Years	0	1	2	3	4	5	6	7	8	9	10	TV
FCF	$23.27M	$24.23M	$25.24M	$26.28M	$27.37M	$28.51M	$29.69M	$30.92M	$32.2M	$33.54M	$34.93M	$349.3M
DCF		$21.07M	$19.08M	$17.28M	$15.65M	$14.17M	$12.84M	$11.62M	$10.53M	$9.534M	$8.634M	$86.34M
Value	$226.8M

Chart P/E ratio

In the chart Earnings are multiplied by this value.

Earnings Growth -

Earnings Stability -

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.

The Net Margin is too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Over time the ROA has been decreasing indicating a lower marginal ROA with respect to the calculated one, this could impede growth.

Years	12-2018	12-2019	12-2020	12-2021	12-2022	12-2023	TTM
Net Margin	-	-	-	-10%	-7.8%	-13%	-13%
ROA	6.8%	-1.3%	-1.4%	-1.1%	-0.9%	-1.2%	-1.2%
ROE	-	-9.5%	-3.9%	-4.9%	-6.7%	-16%	-16%

What is the average Net Margin?

The average Net Margin over the past 5 years is -10.51%.

What is the trend of Net Margin?

The trend of Net Margin over the past 5 years is -1.61%.

What is the average Return on Assets (ROA)?

The average ROA over the past 5 years is +0.15%.

What is the trend of Return on Assets (ROA)?

The trend of ROA over the past 5 years is -1.11%.

What is the average Return on Equity (ROE)?

The average ROE over the past 5 years is -8.22%.

What is the trend of Return on Equity (ROE)?

The trend of ROE over the past 5 years is -1.61%.

Safety & Stabiliy

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.

The company has high debt with respect to the cashflow it generates.

Data are missing

Years	12-2018	12-2019	12-2020	12-2021	12-2022	12-2023	TTM
Debt FCF	-	0.00	12.86	23.65	-33.48	43.36	43.36
Debt Equity	-	0.00	0.52	0.69	0.72	0.99	0.99
MIN
Graham Stability	-	-	-	-	-	-	-

What is the Debt/FCF?

The Debt/FCF trailing twelve month is 43.36.

What is the trend of Debt/FCF?

The trend of Debt/FCF over the past 5 years is 4.04.

What is the Graham’s Stability?

Graham’s Stability measure stands at -.

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.

Data are missing

Years	12-2018	12-2020	12-2022	Trend
Revenue	-	-	24%	-49%
Net Income	-	-	-	-
Stockholders Equity	-	9.8%	-11%	-76%
FCF	16%	-9.5%	-	9.8%

What is the 5 year Revenue CAGR?

The Revenue CAGR over the past 5 years is -.

What is the trend of Revenue growth?

The trend of Revenue growth rate over the past 5 years is -48.63%.

What is the 5 year Earnings CAGR?

The Earnings CAGR over the past 5 years is +204.75%.

What is the trend of Earnings growth?

The trend of Earnings growth rate over the past 5 years is -.

What is the 5 year Equity CAGR?

The Equity CAGR over the past 5 years is -.

What is the trend of Equity growth?

The trend of Equity growth rate over the past 5 years is -76.36%.

What is the 5 year FCF CAGR?

The FCF CAGR over the past 5 years is +15.61%.

What is the trend of FCF growth?

The trend of FCF growth rate over the past 5 years is +9.83%.