Brown & Brown (BRO) FY2008 results: revenue $978 million
Brown & Brown, Inc. (BRO) reported revenue of $978 million for fiscal 2008, the year ended 31 December 2008. Net income was $166 million, and diluted earnings per share $0.58. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2011.
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
| $ million | FY2008 | Last 8 years |
|---|---|---|
| Revenue | 978 | |
| Operating income | 272 | |
| Operating margin | 27.9% | |
| Interest expense | 14.7 | |
| Pre-tax income | 272 | |
| Income tax | 106 | |
| Effective tax rate | 39.0% | |
| Net income | 166 | |
| Net margin | 17.0% | |
| Diluted EPS | $0.58 |
$ million except per share.
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Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.Cash flow
| $ million | FY2008 | Last 8 years |
|---|---|---|
| Operating cash flow | 342 | |
| Capital expenditure | 14.1 | |
| Free cash flow | 328 | |
| Free cash flow margin | 33.5% | |
| Cash from investing | -277 | |
| Cash from financing | -24.5 | |
| Depreciation | 13.3 | |
| Share-based compensation | 7.3 | |
| Dividends paid | 40.2 | |
| Dividend per share | $0.14 | |
| Diluted shares, weighted | 274m |
Balance sheet
| $ million | FY2008 | Last 8 years |
|---|---|---|
| Shareholders' equity | 1,242 | |
| Cash and equivalents | 78.6 |
10-K for the year ended 31 December 2008, filed 1 March 2011: the filing.