Brown & Brown (BRO) FY2024 results: revenue $4.8 billion, up 12.9% on the year
Brown & Brown, Inc. (BRO) reported revenue of $4.8 billion for fiscal 2024, the year ended 31 December 2024, up 12.9% on the year before. Net income was $993 million, up 14.1%, and diluted earnings per share $3.46. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2025.
Revenue
$4.8 billion
+12.9% on the year
FY2017FY2024
Operating margin
n/a
26.9% a year earlier
FY2017FY2024
Net income
$993 million
+14.1% on the year
FY2017FY2024
Diluted EPS
$3.46
+13.4% on the year
FY2017FY2024
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree 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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
1,174
1,010
881
+16.3%
Capital expenditure
82.0
68.9
52.0
+19.0%
Free cash flow
1,092
941
829
+16.1%
Free cash flow margin
22.7%
22.1%
23.2%
Cash from investing
-898
-587
-1,913
Cash from financing
-64.0
-187
1,725
Depreciation
44.0
40.0
39.0
+10.0%
Share-based compensation
101
89.0
66.1
+13.5%
Buybacks
0.0
0.0
74.1
Dividends paid
154
135
120
+14.1%
Dividend per share
$0.54
$0.48
$0.42
+12.5%
Diluted shares, weighted
284m
281m
279m
+1.1%
Shares outstanding at period end
286m
285m
283m
+0.5%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
6,437
5,579
4,607
+15.4%
Non-controlling interest
n/a
0.2
0.4
Debt
3,824
3,796
3,942
+0.7%
Operating lease liabilities
189
179
196
+5.6%
Other liabilities
7,162
5,330
5,228
+34.4%
Total liabilities and equity
17,612
14,883
13,974
+18.3%
Fixed assets
319
270
240
+18.0%
Goodwill
7,970
7,341
6,674
+8.6%
Intangible assets
1,814
1,621
1,595
+11.9%
Investments
10.0
11.0
12.0
-9.1%
Cash and equivalents
675
700
650
-3.6%
Other assets
6,824
4,940
4,802
+38.1%
Total assets
17,612
14,883
13,974
+18.3%
10-K for the year ended 31 December 2024, filed 13 February 2025: the filing.