Analyse produit facultative
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Brown & Brown, Inc.'s published Buy conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.
| Market cap | $20.8B | |
|---|---|---|
| Revenue (ttm) | 6.8B | |
| Net income (ttm) | 1.2B | |
| EPS (ttm) | $3.18 | |
| Shares out | 331.7M | |
| P/E (trailing) | 20.7x | |
| P/E (forward) | 12.6x | |
| Dividend | $0.72 (1.10%) | |
| Volume | 2,920,999 | |
| Beta | 0.59 |
Recent price action with selectable time range.
| Item | P1 | P2 | P3 | P4 | P5 | Trend |
|---|---|---|---|---|---|---|
| Period | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | 2025-12-31 | Trend |
| Revenue | $3.05B | $3.57B | $4.26B | $4.81B | $5.90B | +17.9% |
| Gross profit | $1.41B | $1.76B | $1.42B | $2.30B | $2.83B | +19.0% |
| Operating income | $919.7M | $1.05B | $1.28B | $1.50B | $1.62B | +15.1% |
| Net income | $587.1M | $672.0M | $871.0M | $993.0M | $1.05B | +15.8% |
| EPS (diluted) | $2.07 | $2.37 | $3.05 | $3.46 | $3.16 | +11.2% |
| EBITDA | $1.01B | $1.16B | $1.15B | $1.73B | $1.98B | +18.3% |
| R&D | $0 | $0 | $0 | — | — | +3.9% |
| SG&A | $2.08B | $1.82B | $2.19B | $2.41B | $2.94B | +9.0% |
Recent company headlines from major financial publishers.
The Base case represents the modal operating path, where performance aligns with management guidance and sell-side consensus estimates. Consolidated revenue reaches $6,985,067,150 in FY2026, reflecting the contribution of $1.7B to $1.8B from Accession and organic growth within guided bands of 1.5% to 2.5% in Retail and 2% to 4% in Specialty Distribution. Operating margins remain structurally superior to peers in FY2026, supported by ~35% Specialty Distribution profitability and reaffirmed synergy realization of $30M to $40M. Asset-light operations ($68M capex in FY2025) produce strong operational cash flows of $1.35B+, facilitating steady deleveraging.
In the Bull scenario, Accession integration exceeds operational targets, delivering the upper bound of $1.8B in annual revenue and achieving $40M in cost synergies. Specialty Distribution maintains operating margins of approximately 35% as the rollout of over 180 casualty-driven programs successfully neutralizes catastrophe property rate declines. In Retail, non-discretionary corporate risk and persistent healthcare inflation (medical up 8-10%, pharmacy up over 10%) drive advisory demand, lifting Retail organic growth to the top of guided ranges. High cash flow conversion of 24% to 27% allows Brown & Brown to rapidly pay down debt from its $8.07B stack, prompting multiple expansion toward peer averages.
| Ke ↓ / g → | 2.5% | 2.8% | 3.0% | 3.3% | 3.5% |
|---|---|---|---|---|---|
| 7.0% | $90.0 | $92.9 | $96.3 | $100 | $104 |
| 7.5% | $83.7 | $86.0 | $88.6 | $91.5 | $94.8 |
| 8.0% | $78.5 | $80.3 | $82.4 | $84.7 | $87.2 |
| 8.5% | $74.1 | $75.6 | $77.3 | $79.1 | $81.2 |
| 9.0% | $70.4 | $71.7 | $73.0 | $74.5 | $76.2 |
Upcoming earnings date and setup when available.
La notation portée par l'édition de recherche publiée chaque mois. Une notation compare le cours à la date d'analyse à la juste valeur ; elle n'indique pas si l'appréciation s'est révélée juste.
| Année | janv. | févr. | mars | avr. | mai | juin | juil. | août | sept. | oct. | nov. | déc. |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 |
