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Brown & Brown (BRO) earnings and revenue breakdown

Latest: Q3 FY27 · 10-Q filed Oct 26, 2026 · Brown & Brown (BRO) Q3 FY27 earnings results →

Q3 FY27 Revenue up 7% year over year to $1.7B · 14¢ of every $1 of revenue kept as net profit · operating margin 18.6%

Brown & Brown made $1.7B in Q3 FY27 (+7% Y/Y). Operating margin 18.6%, net earnings $240M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 26, 2026.

Revenue$1.7B
Year over year+7%
Operating margin18.6%
Net earnings$240M
Operating cash flow$532M

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Brown & Brown Q3 FY27 revenue breakdown: Sankey diagram of revenue, costs, profit and cash flow
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What changed this quarter

Revenue was $1.7B in Q3 FY27, up 7% year over year and up 3% from the previous quarter.

Operating profit was $0.32B, a 18.6% margin (down 0.8 points year over year). Of the extra revenue versus Q3 FY26, 8% reached operating profit, below the 19% margin then. Total costs grew 8% against revenue growth of 7%. Net earnings were $0.24B, up 6% year over year. The effective tax rate was 24.7%.

Operating cash flow was $0.53B (up 14% year over year), 221% of net earnings. Non-cash charges added back $0.02B of depreciation and $0.02B of share-based compensation. Working capital and other items added $0.25B. Capital expenditures of $0.04B left free cash flow of $0.49B.

Quarterly history

Brown & Brown revenue by quarterBrown & Brown revenue by quarter$1.4BQ1 FY26$1.3BQ2 FY26$1.6BQ3 FY26$1.6BQ4 FY26$1.9BQ1 FY27$1.7BQ2 FY27$1.7BQ3 FY27
Brown & Brown net earnings by quarterBrown & Brown net earnings by quarter$331MQ1 FY26$231MQ2 FY26$227MQ3 FY26$264MQ4 FY26$426MQ1 FY27$288MQ2 FY27$240MQ3 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 FY2710-QOct 26, 2026$1.7B+7%18.6%$240M$532M
Q2 FY2710-QJul 27, 2026$1.7B+30%22.9%$288M$346M
Q1 FY2710-QApr 27, 2026$1.9B+35%28.0%$426M$262M
Q4 FY2610-KFeb 12, 2026$1.6B+36%20.0%$264M$444M
Q3 FY2610-QOct 28, 2025$1.6B+35%19.4%$227M$468M
Q2 FY2610-QJul 28, 2025$1.3B+9%24.2%$231M$325M
Q1 FY2610-QApr 28, 2025$1.4B+12%30.4%$331M$213M

Charts

Brown & Brown: revenue growth, year over year and quarter over quarterBrown & Brown: revenue growth, year over year and quarter over quarterY/YQ/Q+12%Q1 FY26+9%-8%Q2 FY26+35%+25%Q3 FY26+36%+0%Q4 FY26+35%+18%Q1 FY27+30%-12%Q2 FY27+7%+3%Q3 FY27
Latest (Q3 FY27): Y/Y +7%, Q/Q +3%.
Brown & Brown: profit against cash, quarter by quarterBrown & Brown: profit against cash, quarter by quarterNet incomeOperating cash flow$211M$361MQ4 FY25$334M$213MQ1 FY26$234M$325MQ2 FY26$229M$468MQ3 FY26$268M$444MQ4 FY26$427M$262MQ1 FY27$289M$346MQ2 FY27$241M$532MQ3 FY27
Latest (Q3 FY27): Net income $241M, Operating cash flow $532M.
Brown & Brown in its industry: growth against margin (24 companies, SIC 6411)Brown & Brown in its industry: growth against margin (24 companies, SIC 6411)revenue growth, year over year →↑ operating marginmedian +8%median 17%MRSHAONAJGEQHWTWERIERYANBWINARXHGTYCRD-AACTSLQTCRVLLIFEGSHDTWFGNPEHTHRDZNQDMIHITEZRABRO (+7%, 19%)
Insurance Agents, Brokers & Service; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Brown & Brown

Brown & Brown, Inc. (NYSE: BRO) is a leading insurance brokerage firm delivering comprehensive and customized insurance solutions and specialization since 1939. With a global presence spanning 700+ locations and a team of more than 23,000 professionals, we are dedicated to delivering scalable, innovative strategies for our customers at every step of their growth journey. Learn more at BBrown.com.

In its own words, from its 8-K, filed Jul 27, 2026.

Brown & Brown against its Insurance Agents, Brokers & Service peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +7% against the peers' median +8%. Operating margin: 18.6% against the peers' median 17.8%.

CompanyQuarterRevenueY/YOp. margin
BRO Brown & BrownQ3 FY27$1.7B+7%18.6%
MRSH Marsh & McLennan CompaniesQ3 2026$6.9B+8%17.7%
AON AonQ3 2026$4.1B+3%19.7%
AJG Arthur J. GallagherQ3 2026$4.0B+18%13.0%
EQH Equitable HoldingsQ3 2026$3.9B+168%35.8%
WTW Willis Towers WatsonQ3 2026$2.5B+8%17.4%
ERIE Erie IndemnityQ3 2026$1.1B+0.3%19.4%
RYAN Ryan Specialty HoldingsQ3 2026$790M+5%17.8%
BWIN Baldwin Insurance GroupQ2 2026$493M+30%-1.7%

Source: Brown & Brown 10-Q on SEC EDGAR · CIK 79282 · Insurance Agents, Brokers & Service

13F: who owns BRO and who is buying

Largest holders of BRO (13F)Largest holders of BRO (13F)Vanguard Group$3.0BFirst Eagle Investment Management…$1.5BBlackRock$1.4BVanguard Capital Management LLC$1.2BFMR LLC$1.2BPrincipal Financial Group$1.0BVanguard Portfolio Management LLC$939MState Street$931MCapital World Investors$928MGeode Capital Management, LLC$526M
Funds' net buying of BRO by quarter (13F)Funds' net buying of BRO by quarter (13F)−$550M2024-09−$339M2024-12$932M2025-03$5.5B2025-06−$414M2025-09$385M2025-12$798M2026-03$622M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on BRO

History

Every quarter: Q3 FY27 results · Q2 FY27 results · Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results

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中文版：Brown & Brown（BRO）财报

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