Brown & Brown, Inc.

Brown & Brown, Inc.

BRO

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Market Cap$23.56B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Brown & Brown, Inc.Brown & Brown, Inc.19.40.92%10%3.50.7

Earnings Call Q2 2026

July 28, 2026 - AI Summary

Strong results + modestly ahead; organic mix normalizes despite CAT headwind - Q2 revenue: $1.7B, +30.4% YoY (growth driven largely by acquisitions/contingents). - Organic revenue was -70 bps vs prior year (but +70 bps with organic contingents), which management frames as a good outcome given Q2 is the largest quarter for CAT property placements. - Profitability: Adjusted EBITDAC margin 35.7%, down 100 bps YoY (notably attributed to lower interest income vs the prior year when cash was held for the Accession purchase). - EPS: $1.07, +3.9%.
Segment performance: Retail solid; Specialty Distribution pressured by timing + CAT pricing - Retail organic growth: +2.5% including contingents; +1.5% excluding contingents—slightly above expectations due to better net new business and strong contingent commissions; also benefiting from an enhanced go-to-market model. - Specialty Distribution organic growth: -1.6% with contingents; -3.5% without. - Key negative: ~200 bps headwind from ~$10M of delayed new business revenue expected to be recognized largely in Q3. - Despite that, management says underlying results align with expectations after considering downward pressure from CAT property rates.
Pricing and market outlook: competitive but not collapsing—CAT still falling; casualty bifurcation - Admitted rate environment: broadly consistent with Q1; some moderation in certain lines; E&S described as more bifurcated. - Workers’ comp & non-cat property: generally flat to down 5 for casualty; primary casualty & professional liability up ~5%, while excess layers/casualty face more pressure. - CAT property: continued decline -15% to -35% (similar to Q1). Management does not expect a major second-half change, but acknowledges competition remains high. - For employee benefits: medical costs still +8% to +10%; pharmacy costs again >10%, supporting ongoing demand for advisory/consulting.

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$72.50

Target Price by Analysts

3% upsideBrown & Brown Target Price DetailsTarget Price
$192.61

Current Fair Value

173.6% upside

Undervalued by 173.6% based on the discounted cash flow analysis.

Share Statistics

Market cap$23.56 Billion
Enterprise Value$31.60 Billion
Dividend Yield$0.65 (0.92%)
Earnings per Share$3.4
Beta0.6
Outstanding Shares333,000,000

Return

Return on Equity9.58%ROE
Return on Assets4.03%
Return on Invested Capital8.76%

Valuation & Multiples

P/E Ratio19.45P/E Ratio
PEG78.81PEG
Price to Sales3.52Price to Sales
Price to Book Ratio1.9Price to Book Ratio
Enterprise Value to Revenue4.61
Enterprise Value to EBIT16.26
Enterprise Value to Net Income26
Total Debt to Enterprise0.28
Debt to Equity0.71Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
July 27, 2026
EPS Estimate
$1.08
Average shareholder expectation
Revenue Estimate
$1.71 B
Average shareholder expectation

Next Earnings Call

Expected Date
October 26, 2026
EPS Estimate
$1.08
Average shareholder expectation
Revenue Estimate
$1.76 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.0000▼ 51.57%
Total Calls-▼ 100.00%
Total Puts-▼ 100.00%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %4.54%▼ 79.12%
Total Invested$1.90B▼ 89.54%
Investors Holding295▼ 528.00%

ESG Score

No data

About Brown & Brown, Inc.

CEO: J. Powell Brown

Relevant Senate Committees

Joint Committee on Taxation

Despite its advisory role, this committee's 'scoring' of tax legislation directly shapes corporate tax policy, capital investment incentives, and the overall tax burden, which fundamentally impacts the financial health and operational decisions of Brown & Brown.

Finance

This powerful committee directly impacts corporate taxation, which is critical for Brown & Brown's profitability. Its control over entitlement spending (e.g., Medicare) profoundly influences a major segment of the health insurance market that brokerages operate within.

Health, Education, Labor, and Pensions

This committee directly impacts the health insurance market through oversight of federal health agencies (e.g., ACA-related regulations) and influences employer-sponsored benefits and labor laws, which are core services offered by an insurance brokerage.

Banking, Housing, and Urban Affairs

This committee directly regulates the broader financial system, including institutions (Fed, SEC) that dictate capital markets and financial stability rules impacting all financial services companies, including insurance agencies operating within that ecosystem.