Brown & Brown, Inc.

NYSE:BRO Stock Report

Market Cap: US$18.8b

Brown & Brown Future Growth

Future criteria checks 1/6

Brown & Brown is forecast to grow earnings and revenue by 6.2% and 8% per annum respectively. EPS is expected to grow by 4.6% per annum. Return on equity is forecast to be 15% in 3 years.

Key information

6.2%

Earnings growth rate

4.62%

EPS growth rate

Insurance earnings growth1.9%
Revenue growth rate8.0%
Future return on equity15.00%
Analyst coverage

Good

Last updated04 May 2026

Recent future growth updates

Recent updates

Narrative Update • May 07

BRO: Ongoing Buybacks And Solid Margins Will Support Future Upside

Analysts have trimmed their price target for Brown & Brown to about $73.80, down from around $79.47, as they now apply a slightly higher discount rate and assume more moderate revenue growth, profit margins, and future P/E levels. What's in the News From October 1, 2025 to December 31, 2025, Brown & Brown repurchased 1,255,970 shares for US$100 million, representing 0.37% of the company.
Seeking Alpha • Apr 29

Brown & Brown: No Significant Upside After Q1 2026

Summary Brown & Brown remains fundamentally strong but is overvalued at current levels, warranting a 'Hold' rating. Despite robust M&A execution and insider alignment, BRO’s premium valuation is unsupported by slowing organic growth and sector headwinds. I lower my price target to $58/share, reflecting reduced growth forecasts (7-8%) and increased sector risks, especially in flood insurance. The current risk/reward is unattractive; BRO’s 1% yield and subpar credit rating further limit upside in a softening insurance market. Read the full article on Seeking Alpha
Narrative Update • Apr 20

BRO: Ongoing Buybacks And Solid Margins Will Support Future Upside

Analysts have reduced their price target on Brown & Brown to $79.47 from $81.93, reflecting slightly adjusted assumptions related to future revenue growth, profit margins, and P/E multiples. What's in the News Brown & Brown repurchased 1,255,970 shares between October 1, 2025 and December 31, 2025 for $100 million, representing 0.37% of its shares (Key Developments).
Narrative Update • Apr 05

BRO: Ongoing Share Repurchases Will Support Future Upside Potential

Analysts have reduced their price target for Brown & Brown to $81.93 from $83.29, citing slightly lower assumptions for fair value, revenue growth, profit margin, and future P/E in their models. What's in the News Brown & Brown repurchased 1,255,970 shares between October 1, 2025 and December 31, 2025 for US$100 million, representing 0.37% of its shares under the existing buyback program (Key Developments).
Narrative Update • Mar 22

BRO: Continued Share Repurchases Will Support Future Upside Potential

Analysts have slightly adjusted their price target on Brown & Brown to $83.29, a move of about $0.14, reflecting updated views on fair value, discount rate, revenue growth, profit margin, and future P/E assumptions. What's in the News Completed repurchase of 1,255,970 shares between October 1, 2025 and December 31, 2025 for US$100 million, representing 0.37% of shares outstanding (Key Developments) Buyback activity under the authorization announced on July 20, 2015 now totals 17,785,072 shares repurchased for US$622.96 million, representing 6.26% of shares outstanding (Key Developments) Valuation Changes Fair Value: Model fair value moves slightly from $83.43 to $83.29, a change of about $0.14.
Narrative Update • Mar 07

BRO: Ongoing Share Repurchases Will Support Future Upside Potential

Analysts have made a small downward tweak to their price target on Brown & Brown, trimming it by about $0.07 as they fine tune assumptions around fair value, discount rate, revenue growth, profit margins and future P/E. What's in the News Completed a share repurchase tranche between October 1, 2025 and December 31, 2025, buying 1,255,970 shares for US$100 million, equal to 0.37% of shares.
Narrative Update • Feb 21

BRO: Completed Buyback Program Will Support Future Upside Potential

Analysts have modestly trimmed their price target for Brown & Brown to about $83.50, reflecting small adjustments to assumptions around fair value, revenue growth, profit margins, and future P/E expectations. What's in the News From October 1, 2025 to December 31, 2025, Brown & Brown repurchased 1,255,970 shares for US$100 million, representing roughly 0.37% of shares outstanding under its ongoing buyback program (Key Developments).
Narrative Update • Feb 07

BRO: Moderated Assumptions And Buyback Completion Will Support Future Upside

Analysts have trimmed their price target on Brown & Brown to about US$84 from roughly US$90, citing updated assumptions for growth, profitability and a slightly lower future P/E multiple. Valuation Changes Fair Value Estimate was revised from US$90 to about US$84.36, reflecting a modest reduction in the modeled intrinsic value.
Narrative Update • Jan 23

BRO: Acquisition Pipeline And Completed Buyback Program Will Support Future Upside

Analysts now see Brown & Brown's fair value at $90.00, down from $92.29, reflecting updated assumptions around revenue growth, profit margin, and future P/E multiples. What's in the News Brown & Brown reports that from July 1, 2025 to October 22, 2025 it repurchased 0 shares for US$0, completing a total buyback of 16,529,102 shares, or 5.89%, for US$522.96 million under the program announced on July 20, 2015 (Key Developments).
Narrative Update • Jan 08

BRO: Larger Buyback And Rising Dividend Will Support Future Upside

Analysts have trimmed their price target on Brown & Brown slightly to about $92.29 per share from roughly $92.86, citing updated assumptions for revenue growth, profit margins, and future P/E levels. What's in the News Brown & Brown reported that from July 1, 2025 to October 22, 2025, it repurchased 0 shares for US$0 under its existing buyback, while having completed repurchases of 16,529,102 shares for US$522.96m since the program began in 2015 (company disclosure).
Narrative Update • Dec 22

BRO: Expanded Buyback Program Will Support Future Share Price Upside

Analysts have modestly trimmed their price target on Brown & Brown to approximately 92.86 dollars from 93.50 dollars, reflecting slightly lower expectations for revenue growth and profit margins, even as they apply a somewhat higher future earnings multiple. What's in the News Brown & Brown signaled an active M&A strategy, highlighting a strong pipeline of domestic and international acquisition opportunities that fit its cultural and financial criteria (Third Quarter Earnings Call).
Narrative Update • Dec 08

BRO: Expanded Buyback Authorization Will Support Future Share Price Upside

Analysts have modestly raised their 12 month price target on Brown & Brown to approximately $93.50, citing sustained strong revenue growth, resilient profit margins, and supportive long term valuation multiples. What's in the News Board approves a 10% increase in the regular quarterly cash dividend to $0.165 per share, marking Brown & Brown's 32nd consecutive annual dividend increase (board dividend announcement).
Narrative Update • Nov 24

BRO: Equity Buyback Authorization And 10% Dividend Increase Will Drive Upside

Analysts have slightly reduced their price target for Brown & Brown from $97.08 to $93.50. They cite modest adjustments in valuation assumptions and updated growth forecasts as the reasons for this change.
Narrative Update • Nov 06

BRO: Equity Buyback Expansion And Dividend Hike Will Drive Near-Term Upside

Analysts have revised Brown & Brown's fair value estimate downward from $108.33 to $97.08. This change reflects tempered expectations for the company's revenue growth and profitability.
Narrative Update • Oct 22

Analysts Maintain Price Target as Brown and Brown Updates Buyback and Valuation Forecasts

Narrative Update on Brown & Brown Analysts have maintained their price target for Brown & Brown at $108.33, citing stable fair value estimates, a slight increase in the discount rate, and minimal adjustments to revenue growth and profit margin forecasts. What's in the News Brown & Brown completed the repurchase of 16,529,102 shares, equaling 5.89% of its outstanding shares, for a total of $522.96 million under the buyback program announced on July 20, 2015 (Key Developments).
Narrative Update • Oct 08

13 Acquisitions And Cost Control Will Unlock Future Potential

Analysts have slightly revised their price target for Brown & Brown, lowering it from $109.92 to $108.33 per share. They cite largely stable growth and profit expectations, with only minor adjustments to underlying assumptions.
Narrative Update • Aug 06

13 Acquisitions And Cost Control Will Unlock Future Potential

The decrease in Brown & Brown’s fair value target primarily reflects a higher discount rate while forward earnings multiples remain stable, resulting in the consensus price target being revised down from $117.55 to $111.36. What's in the News Brown & Brown announced a strategic collaboration with WireX Systems to integrate cybersecurity and incident response solutions into its risk management and insurance services, aiming to deliver enhanced and measurable financial benefits for customers.
Seeking Alpha • Mar 31

Brown & Brown: A Shield Against Market Turbulence

Summary Brown & Brown's growth is driven by insurance premium growth, strategic acquisitions, and potential corporate tax cuts, justifying a 'Strong Buy' rating with a fair value of $154 per share. Recent acquisitions of Quintes Holding B.V. and Drewberry expand Brown & Brown's international footprint, enhancing revenue and cost synergies. BRO achieved 13.8% organic revenue growth and 22.6% adj. EBITDAC growth in FY24, benefiting from market share gains and rising insurance premiums. Despite economic uncertainties, Brown & Brown's stable business model and strategic M&A pipeline position it well for continued growth and resilience. Read the full article on Seeking Alpha
Seeking Alpha • Jan 22

Brown & Brown - Why The Outperformance, And Where It Could Go 2025-2027

Summary Brown & Brown has delivered impressive returns, outperforming the market with an 80% total return over the past 2+ years. Despite its strong performance and diversified business model, Brown & Brown's current valuation is too high, limiting its upside potential. The company faces risks from increased competition in M&A and potential market corrections, impacting future growth and returns. I maintain a "Hold" rating with a price target of $55/share, as the current valuation does not justify a buy recommendation. Read the full article on Seeking Alpha
Seeking Alpha • Nov 05

Brown & Brown's Price Is Up, But Value Isn't Much Different

Summary YTD results show Brown & Brown executing on its continual growth. Lower rates invite competition from private equity in M&A, but most of 2024's growth has been organic. Impacts of Hurricanes Helene and Milton may moderate some of the year's growth from contingent commissions. The long-term outlook, however, remains positive. Read the full article on Seeking Alpha
Seeking Alpha • Aug 19

Brown & Brown Q2: Strong Insurance Premium Growth Continues

Summary Brown & Brown stock price increased by 32% since January 2024, outperforming S&P 500 index return. The company reported 10% organic revenue growth in Q2, driven by pricing increase and program growth. Recent acquisitions of CI Group and Quintes support international expansion strategy, reiterating a 'Strong Buy' rating with a fair value of $120 per share. Read the full article on Seeking Alpha
Seeking Alpha • Jul 02

Brown & Brown: Trading Near Fair Value, Hold But The Upside Is Limited (Technical Analysis)

Summary Stock gained 21.52% since bullish thesis. Hold rating due to nearing fair value. Technical indicators show cooling bullish trajectory, insiders aligned with shareholders, hold rational. Read the full article on Seeking Alpha
Seeking Alpha • Apr 12

Brown & Brown Insurance: A Fairly Priced Super-Compounder

Summary Brown & Brown Insurance, led by the Brown family, has consistently provided attractive returns for shareholders. The company operates as an agency for insurers, protecting itself from underwriting risks. With a focus on M&A, diverse cash flows, and a competent leadership team, the company is positioned for future growth. The main risks, therefore, are the price one pays for the shares and anything that could disrupt its sales operation (like AI). Read the full article on Seeking Alpha

Earnings and Revenue Growth Forecasts

NYSE:BRO - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20287,8481,3431,901N/A7
12/31/20277,4581,2621,7561,79413
12/31/20267,0531,1631,5741,67512
3/31/20266,2581,1371,4271,499N/A
12/31/20255,7631,0431,3821,450N/A
9/30/20255,3449871,2991,367N/A
6/30/20254,9499921,2641,339N/A
3/31/20254,8531,0191,2881,374N/A
12/31/20244,7059811,0921,174N/A
9/30/20244,5531,0391,0261,119N/A
6/30/20244,449983912995N/A
3/31/20244,333915893963N/A
12/31/20234,1998589411,010N/A
9/30/20234,094736927986N/A
6/30/20233,969720864923N/A
3/31/20233,771675783838N/A
12/31/20223,566659829881N/A
9/30/20223,409616738781N/A
6/30/20223,252602737775N/A
3/31/20223,140595731774N/A
12/31/20213,050574764809N/A
9/30/20212,953572760810N/A
6/30/20212,857562625685N/A
3/31/20212,728523760826N/A
12/31/20202,611465642713N/A
9/30/20202,547460689771N/A
6/30/20202,490441715789N/A
3/31/20202,466437640707N/A
12/31/20192,386399N/A678N/A
9/30/20192,317395N/A659N/A
6/30/20192,229386N/A596N/A
3/31/20192,128367N/A493N/A
12/31/20182,010344N/A568N/A
9/30/20181,976458N/A484N/A
6/30/20181,920428N/A449N/A
3/31/20181,913420N/A431N/A
12/31/20171,857400N/A442N/A
9/30/20171,817270N/A405N/A
6/30/20171,804265N/A442N/A
3/31/20171,785267N/A469N/A
12/31/20161,763257N/A411N/A
9/30/20161,734262N/A440N/A
6/30/20161,704256N/A423N/A
3/31/20161,676248N/A393N/A
12/31/20151,657243N/A382N/A
9/30/20151,643210N/A390N/A
6/30/20151,632211N/A435N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: BRO's forecast earnings growth (6.2% per year) is above the savings rate (3.5%).

Earnings vs Market: BRO's earnings (6.2% per year) are forecast to grow slower than the US market (16.7% per year).

High Growth Earnings: BRO's earnings are forecast to grow, but not significantly.

Revenue vs Market: BRO's revenue (8% per year) is forecast to grow slower than the US market (11.6% per year).

High Growth Revenue: BRO's revenue (8% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: BRO's Return on Equity is forecast to be low in 3 years time (15%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/12 19:44
End of Day Share Price 2026/05/12 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Brown & Brown, Inc. is covered by 28 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Taylor ScottBarclays
null nullBMO Capital Markets Equity Research
Michael ZaremskiBMO Capital Markets Equity Research