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Brown & Brown cash flow, quarter by quarter

Latest: Q3 FY27 · from the cash-flow statements filed with the SEC

Free cash flow$493M in Q3 FY27

Operating cash flow$532M
Capital spending−$39.0M
Free cash flow+$493M
Cash / net income2.2×

Analysis

In Q3 FY27, Brown & Brown generated $532M of operating cash flow and spent $39.0M on capital projects, leaving free cash flow of $493M. That is $41.0M more than in Q3 FY26 ($452M).

Operating cash flow was $532M against net income of $241M — 2.2× profit, cash ran ahead of reported earnings. The largest differences: accrued liabilities +$131M, payables −$96.0M, deferred taxes +$30.0M.

Free cash flow

Brown & Brown: free cash flow by quarterBrown & Brown: free cash flow by quarter$341MQ4 FY25$196MQ1 FY26$310MQ2 FY26$452MQ3 FY26$424MQ4 FY26$241MQ1 FY27$329MQ2 FY27$493MQ3 FY27
Operating cash flow less capital spending.
Brown & Brown: operating cash flow against capital spendingBrown & Brown: operating cash flow against capital spendingOperating cash flowCapital spending$361M$20.0MQ4 FY25$213M$17.0MQ1 FY26$325M$15.0MQ2 FY26$468M$16.0MQ3 FY26$444M$20.0MQ4 FY26$262M$21.0MQ1 FY27$346M$17.0MQ2 FY27$532M$39.0MQ3 FY27
Latest (Q3 FY27): Operating cash flow $532M, Capital spending $39.0M.

Cash runway and the debt wall

Cash & investments$1.1B
Debt$7.8B
Net debt$6.7B
Due within a year$413M

Brown & Brown funds itself: free cash flow was — over the last twelve months, and $1.1B of cash and investments stands against $7.8B of debt ($413M due within a year, 2.7× covered by cash).

Where the cash came from and went

Brown & Brown: sources (+) and uses (−) of cash, Q3 FY27Brown & Brown: sources (+) and uses (−) of cash, Q3 FY27Operating cash flow$532MBuybacks−$250MOther financing−$153MDividends−$57.0MCapital spending−$39.0MCash drawn (+) / kept (−)−$13.0MAcquisitions−$11.0MOther investing−$4.0MNet borrowing (+) / repaid (−)−$3.0MNot reconciled−$2.0M

From profit to cash

Brown & Brown: net income to operating cash flow, Q3 FY27Brown & Brown: net income to operating cash flow, Q3 FY27Net income$241MDepreciation & amortization$18.0MStock-based pay$23.0MDeferred taxes$30.0MPayables−$96.0MAccrued liabilities$131MPrepaid and other assets$25.0MOperating cash flow$532M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 FY27$532M−$39.0M−$11.0M−$250M−$57.0M−$3.0M—−$13.0M$493M
Q2 FY27$346M−$17.0M−$13.0M−$250M−$55.0M−$12.0M—−$141M$329M
Q1 FY27$262M−$21.0M−$17.0M−$250M−$57.0M$206M—$157M$241M
Q4 FY26$444M−$20.0M−$195M−$100M−$56.0M−$119M$5.0M−$91.0M$424M
Q3 FY26$468M−$16.0M−$7.5B—−$51.0M$182M—$7.2B$452M
Q2 FY26$325M−$15.0M−$94.0M—−$43.0M−$19.0M—−$8.5B$310M
Q1 FY26$213M−$17.0M−$67.0M—−$43.0M−$19.0M—$62.0M$196M
Q4 FY25$361M−$20.0M−$772M—−$43.0M$231M—$199M$341M

Brown & Brown: income statement and cash flow

Brown & Brown, Q3 FY27: revenue $1.7B (+7% year over year), operating margin 18.6%. The chart follows the revenue to costs, profit and cash.

Brown & Brown: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.