Brown & Brown Past Earnings Performance

Past criteria checks 5/6

Brown & Brown has been growing earnings at an average annual rate of 16.8%, while the Insurance industry saw earnings growing at 4.4% annually. Revenues have been growing at an average rate of 14.3% per year. Brown & Brown's return on equity is 16%, and it has net margins of 21.1%.

Key information

16.8%

Earnings growth rate

16.9%

EPS growth rate

Insurance Industry Growth	5.9%
Revenue growth rate	14.3%
Return on equity	16.0%
Net Margin	21.1%
Last Earnings Update	31 Mar 2024

Recent past performance updates

Recent updates

Revenue & Expenses Breakdown
Beta

How Brown & Brown makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

DB:BTW Revenue, expenses and earnings (USD Millions)
Date	Revenue	Earnings	G+A Expenses
31 Mar 24	4,336	914	0
31 Dec 23	4,205	857	0
30 Sep 23	4,094	736	0
30 Jun 23	3,969	720	0
31 Mar 23	3,771	675	0
31 Dec 22	3,567	659	0
30 Sep 22	3,409	616	0
30 Jun 22	3,252	602	0
31 Mar 22	3,140	595	0
31 Dec 21	3,050	574	0
30 Sep 21	2,953	572	0
30 Jun 21	2,857	562	0
31 Mar 21	2,728	523	0
31 Dec 20	2,611	465	0
30 Sep 20	2,547	460	0
30 Jun 20	2,490	441	0
31 Mar 20	2,466	437	0
31 Dec 19	2,386	399	0
30 Sep 19	2,317	395	0
30 Jun 19	2,229	386	0
31 Mar 19	2,128	367	0
31 Dec 18	2,010	344	0
30 Sep 18	1,976	458	0
30 Jun 18	1,920	428	0
31 Mar 18	1,913	420	0
31 Dec 17	1,857	400	0
30 Sep 17	1,817	270	0
30 Jun 17	1,804	265	0
31 Mar 17	1,785	267	0
31 Dec 16	1,763	257	0
30 Sep 16	1,734	262	0
30 Jun 16	1,704	256	0
31 Mar 16	1,676	248	0
31 Dec 15	1,657	243	0
30 Sep 15	1,643	210	-19
30 Jun 15	1,632	211	-14
31 Mar 15	1,609	211	-8
31 Dec 14	1,567	207	0
30 Sep 14	1,517	224	27
30 Jun 14	1,454	213	29
31 Mar 14	1,384	204	26
31 Dec 13	1,356	212	23
30 Sep 13	1,316	207	19
30 Jun 13	1,261	199	16

Quality Earnings: BTW has high quality earnings.

Growing Profit Margin: BTW's current net profit margins (21.1%) are higher than last year (17.9%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: BTW's earnings have grown by 16.8% per year over the past 5 years.

Accelerating Growth: BTW's earnings growth over the past year (35.4%) exceeds its 5-year average (16.8% per year).

Earnings vs Industry: BTW earnings growth over the past year (35.4%) exceeded the Insurance industry 10%.

Return on Equity

High ROE: BTW's Return on Equity (16%) is considered low.

Return on Assets

Return on Capital Employed

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Brown & Brown Past Earnings Performance

Past criteria checks 5/6

Key information

Recent past performance updates

First quarter 2024 earnings released: EPS: US$1.04 (vs US$0.83 in 1Q 2023)

Brown & Brown, Inc. to Report Q1, 2024 Results on Apr 22, 2024

Full year 2023 earnings released: EPS: US$3.07 (vs US$2.38 in FY 2022)

Full year 2023 earnings released: EPS: US$3.11 (vs US$2.38 in FY 2022)

Third quarter 2023 earnings released: EPS: US$0.63 (vs US$0.57 in 3Q 2022)

Brown & Brown, Inc. to Report Q3, 2023 Results on Oct 23, 2023

Recent updates

First quarter dividend of US$0.13 announced

First quarter 2024 earnings released: EPS: US$1.04 (vs US$0.83 in 1Q 2023)

Brown & Brown, Inc. to Report Q1, 2024 Results on Apr 22, 2024

Brown & Brown, Inc., Annual General Meeting, May 08, 2024

Chairman of the Board recently sold €18m worth of stock

Full year 2023 earnings released: EPS: US$3.07 (vs US$2.38 in FY 2022)

Upcoming dividend of US$0.13 per share at 0.7% yield

Full year 2023 earnings released: EPS: US$3.11 (vs US$2.38 in FY 2022)

Brown & Brown, Inc. Appoints Kathleen A. Savio as Director of the Company

Davies Group Limited entered into an agreement to acquire American Claims Management, Inc., Preferred Governmental Claim Solutions, Inc., USIS, Inc. and ICA, LP from Brown & Brown, Inc. (NYSE:BRO) for approximately $210 million.

Third quarter 2023 earnings released: EPS: US$0.63 (vs US$0.57 in 3Q 2022)

Upcoming dividend of US$0.13 per share at 0.7% yield

Brown & Brown, Inc. Announces Increase in Quarterly Cash Dividend, Payable on November 15, 2023

Brown & Brown, Inc. (NYSE:BRO) acquired All of the assets of Pacific Underwriters Corporations.

Brown & Brown, Inc. (NYSE:BRO) acquired Kentro Capital Limited from B. P. Marsh & Company Limited.

Brown & Brown, Inc. to Report Q3, 2023 Results on Oct 23, 2023

Brown & Brown Promotes Mike Bruce to Chief Executive Officer of Brown & Brown Europe

Upcoming dividend of US$0.12 per share at 0.7% yield

Second quarter 2023 earnings released: EPS: US$0.68 (vs US$0.51 in 2Q 2022)

Brown & Brown, Inc. Announces Quarterly Cash Dividend, Payable on August 16, 2023

Brown & Brown, Inc. to Report Q2, 2023 Results on Jul 24, 2023

Brown & Brown, Inc. Announces Board Changes

Brown & Brown, Inc. Announces Executives Appointments

Brown & Brown, Inc. Appoints Pattysue Rauh as Chief Audit Officer, Effective July 2023

Brown & Brown, Inc. (NYSE:BRO) entered into an agreement to acquire Kentro Capital Limited from B. P. Marsh & Company Limited.

Brown & Brown, Inc. (NYSE:BRO) entered into an agreement to acquire Kentro Capital Limited

Brown & Brown, Inc. (NYSE:BRO) acquired substantially all of the assets from Brownlee Agency, Inc.

Upcoming dividend of US$0.12 per share at 0.7% yield

First quarter 2023 earnings released: EPS: US$0.84 (vs US$0.78 in 1Q 2022)

Vice Chairman recently bought €254k worth of stock

Full year 2022 earnings released: EPS: US$2.38 (vs US$2.08 in FY 2021)

Independent Director recently bought €184k worth of stock

Upcoming dividend of US$0.12 per share at 0.8% yield

Full year 2022 earnings released: EPS: US$2.42 (vs US$2.08 in FY 2021)

Brown & Brown, Inc. Announces Board Changes

Brown & Brown, Inc. Declares Regular Quarterly Cash Dividend, Payable on February 15, 2023

Brown & Brown, Inc. to Report Fiscal Year 2022 Results on Jan 23, 2023

Insufficient new directors

Upcoming dividend of US$0.12 per share

Brown & Brown, Inc. Declares Regular Quarterly Cash Dividend, Payable on November 16, 2022

Brown & Brown, Inc. to Report Q3, 2022 Results on Oct 24, 2022

Brown & Brown, Inc. (NYSE:BRO) acquired BDB Limited.

Upcoming dividend of US$0.10 per share

Second quarter 2022 earnings released: EPS: US$0.52 (vs US$0.49 in 2Q 2021)

Brown & Brown, Inc. Declares Quarterly Cash Dividend, Payable on August 17, 2022

Brown & Brown, Inc. (NYSE:BRO) completed the acquisition of Global Risk Partners Limited.

Brown & Brown, Inc. (NYSE:BRO) acquired General Insurance Operations of Patrick Quinlan Insurance Limited.

Brown & Brown, Inc. to Report Q2, 2022 Results on Jul 25, 2022

Independent Director recently bought €93k worth of stock

Brown & Brown, Inc. Announces the Appointment of Kiet Tran as Chief Technology Officer

Independent Director recently bought €95k worth of stock

Upcoming dividend of US$0.10 per share

First quarter 2022 earnings released: EPS: US$0.78 (vs US$0.71 in 1Q 2021)

Insufficient new directors

Brown & Brown, Inc. Declares Quarterly Cash Dividend, Payable on May 18, 2022

Brown & Brown, Inc. to Report Q1, 2022 Results on Apr 25, 2022

Brown & Brown, Inc. (NYSE:BRO) entered into an agreement to acquire BDB Limited.

Lead Independent Director recently bought €110k worth of stock

Upcoming dividend of US$0.10 per share

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Insufficient new directors

Brown & Brown, Inc. (NYSE:BRO) acquired Substantially all of the assets of Corporate Insurance Advisors, L.L.C.

Insufficient new directors

Upcoming dividend of US$0.10 per share

Third quarter 2021 earnings released: EPS US$0.53 (vs US$0.47 in 3Q 2020)

Brown & Brown, Inc. (NYSE:BRO) acquired Substantially all of the assets from AGIS Network, Inc.

Insider recently sold €348k worth of stock

Upcoming dividend of US$0.092 per share

Lead Independent Director recently bought €92k worth of stock

Revenue & Expenses Breakdown
Beta