What is the 13F Pro Quality Score for BRO?

13F Pro ranks BROWN & BROWN, INC. (BRO) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View BRO's current score at https://13fpro.ai/research/BRO (free sign-up required for the full ranking).

Which hedge funds own the most BRO stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of BRO include BlackRock,, VANGUARD CAPITAL MANAGEMENT, Capital World Investors. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/research/BRO as soon as new 13F filings post.

Where does 13F Pro source BRO data?

All BROWN & BROWN, INC. fundamentals and ownership data come directly from SEC EDGAR. BROWN & BROWN, INC. files with the SEC under CIK 79282. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is BRO in?

BROWN & BROWN, INC. (BRO) is classified in the Financials sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/financials.

What drives BRO's revenue?

Per BROWN & BROWN, INC.'s latest 10-Q filed with the SEC on 2026-04-27, the biggest revenue drivers are: Core commissions and fees ($1,783M, +32.9% YoY); Profit-sharing contingent commissions ($97M, +125.6% YoY); Investment and other income ($21M, +10.5% YoY). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/research/BRO.

What are BRO's largest expenses?

BROWN & BROWN, INC.'s latest 10-Q reports these as the largest expense items: Employee compensation and benefits ($907M, +32.8% YoY); Interest expense ($99M, +115.2% YoY); Amortization expense ($116M, +118.9% YoY). Sourced directly from SEC EDGAR filing text for Q1 2026 (quarter ended March 31, 2026).

How often is BRO research updated on 13F Pro?

BRO's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

BROWN & BROWN, INC.(BRO)Stock Analysis

AI analysis on 2,800+ stocks →Deep AI analysis on 2,800+ stocks →

Financials →NYSE

Institutional-grade research for retail investors

SEC EDGAR: CIK 79282 BRO stock profile & AI dashboard →

13F Pro Quality Score

75.1/100

Rank #139 of 2,879 stocksTOP 5%

View Financials peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.

Revenue Growth

78.5/100

Profitability

82.1/100

Balance Sheet

64.6/100

Earnings Quality

64.7/100

Free Cash Flow

77.5/100

Institutional Flow

79.1/100

Revenue Scale

81.4/100

Dilution Risk

45.8/100

BRO Stock Analysis & AI Quality Score

AI stock analysis and institutional research for BROWN & BROWN, INC. (BRO), a Financials sector company. 13F Pro's AI-powered ranking engine scores BRO at 75.1/100 on a 32-signal composite quality model, placing it at rank #139 of 2,879 stocks — the top 5% of the AI-ranked universe. BRO scores in the top quartile across profitability (82.1), revenue scale (81.4), institutional flow (79.1). Shareholder dilution risk is elevated at 45.8/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), BROWN & BROWN, INC. reports quarterly revenue of $1.9B, net income of $426.0M, an operating margin of 28.0%. Top institutional holders of BRO by reported 13-F value include BlackRock,, VANGUARD CAPITAL MANAGEMENT, Capital World Investors, based on the most recent SEC filings. BRO trades on the NYSE exchange and files with the SEC under CIK 79282. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate BRO daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for BROWN & BROWN, INC. directly from SEC EDGAR. BROWN & BROWN, INC.'s 13F Pro composite quality score has ranged between 8 and 79 since 2021, currently 75.1 — a stable long-term trajectory across 56 quarterly and live scoring snapshots.

✦

Fun facts about BROWN & BROWN, INC.

Quirks, history, and lore behind BRO — the kind of stuff that makes a stock memorable.

1
The Basics
U.S. financial services company · mid-cap · listed on NYSE · headquartered in Florida.
2
The Numbers
Annual revenues roughly $4–5 billion, built almost entirely on commissions and fees — it collects a slice every time risk changes hands.
3
The History
Founded in 1939, it stayed a small regional firm for decades before embarking on an aggressive acquisition strategy that turned it into one of the largest players in its field in North America.
4
The Secret
It doesn't underwrite policies or carry risk itself — it's purely an insurance brokerage and risk management intermediary, sitting between clients and the carriers who actually pay claims.
5
The Lore
The company has completed hundreds of acquisitions over its history — buying up smaller regional brokerages the way some people collect stamps, making organic growth almost beside the point.
6
The Giveaway
Its ticker and its name are basically the same thing twice — a family surname repeated — and it remains one of the largest independent insurance brokers in the United States.

▶ Think you know your stocks? Play the Daily Ticker

What's Driving BRO's Business? Latest 10-Q Breakdown

✓ 38/38 datapoints verified

AI-extracted from BROWN & BROWN, INC.'s 10-Q filed 2026-04-27 — Q1 2026 (quarter ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Brown & Brown's Q1 2026 commissions and fees surged 35.7% to $1.88B, driven by acquisitions and a 125.6% jump in contingent commissions, with net income rising 28.7% to $426M.

Biggest Revenue Drivers

Total revenue: $1,901M+35.4% YoY

Core commissions and fees$1,783M+32.9% YoY

Driven by $435M from acquisitions completed in past 12 months, $19M FX translation gain, offset by $10M litigation-related impact.

Profit-sharing contingent commissions$97M+125.6% YoY

Improved underwriting results for carrier partners, growth in premium volume, and recent acquisitions.

Investment and other income$21M+10.5% YoY

Acquisition-related income partly offset by lower interest rates.

Largest Expense Items

Employee compensation and benefits$907M+32.8% YoY

$241M from acquisition payroll; underlying decrease of $17M from lower stock-based compensation and health plan claims.

Interest expense$99M+115.2% YoY

Higher debt balances from June 2025 debt issuance to fund Accession acquisition, partially offset by lower SOFR rates.

Amortization expense$116M+118.9% YoY

Amortization of intangibles from acquisitions completed in past 12 months.

Other operating expenses$289M+55.4% YoY

$95M from acquisition operations; $26M Accession integration costs; increased IT spending.

Margins: EBITDAC Margin - Adjusted held steady at 38.5% vs 38.1% in Q1 2025, despite 35.4% revenue growth. Income before income taxes margin contracted to 28.0% from 30.4% due to acquisition-related amortization and integration costs.

Watch Items from the Filing

Acquisition earn-out payables of $393M outstanding (with $248M uncapped); maximum future contingent payments of $689M. Earn-out volatility could impact earnings.
Litigation-Related Impact reduced Q1 revenues by $10M; pending litigation with startup broker has caused teammate defections in Retail segment.
Escrow liability for Accession acquisition stands at $552M (shares and cash); mark-to-market gains of $64M benefited Q1 but stock price volatility creates earnings volatility.
Organic Revenue flat (0.0% growth) despite 35.7% reported growth, signaling acquisition-driven expansion masks underlying organic slowdown.
Total debt increased to $7.8B; interest coverage pressured by 115% YoY interest expense jump; $225M drawn on revolving facility for share buybacks.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →Share on X

Revenue

Q1 2026

$1.9B

Net Income

Q1 2026

$426.0M

Free Cash Flow

Q1 2026

$241.0M

Operating Margin

Q1 2026

28.0%

ROIC

Q1 2026

2.6%

D/E Ratio

Q1 2026

0.72

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

+22.8% YoY

$5.90BFY 2025

FY21 $3.05BFY23 $4.26BFY24 $4.80BFY25 $5.90B

Net Income

+6.1% YoY

$1.05BFY 2025

FY21 $587.1MFY23 $871.0MFY24 $993.0MFY25 $1.05B

EPS (Diluted)

-8.7% YoY

$3.16FY 2025

FY21 $2.07FY23 $3.05FY24 $3.46FY25 $3.16

Total Assets

+70.3% YoY

$29.99BFY 2025

FY21 $9.80BFY23 $14.88BFY24 $17.61BFY25 $29.99B

Total Debt

+105.8% YoY

$8.33BFY 2025

FY21 $2.07BFY23 $4.37BFY24 $4.05BFY25 $8.33B

Op. Cash Flow

+23.5% YoY

$1.45BFY 2025

FY21 $808.8MFY23 $1.01BFY24 $1.17BFY25 $1.45B

Metric	FY 2025	FY 2024	FY 2023	FY 2021	FY 2020	FY 2019
Revenue	$5.90B +22.8%	$4.80B +12.9%	$4.26B +39.5%	$3.05B +16.8%	$2.61B +9.2%	$2.39B
Net Income	$1.05B +6.1%	$993.0M +14.0%	$871.0M +48.4%	$587.1M +22.2%	$480.5M +20.6%	$398.5M
EPS (Diluted)	$3.16 -8.7%	$3.46 +13.4%	$3.05 +47.3%	$2.07 +22.5%	$1.69 +20.7%	$1.40
Total Assets	$29.99B +70.3%	$17.61B +18.3%	$14.88B +51.9%	$9.80B +9.2%	$8.97B +17.6%	$7.62B
Total Debt	$8.33B +105.8%	$4.05B -7.2%	$4.37B +111.3%	$2.07B -4.6%	$2.17B +34.5%	$1.61B
Operating Cash Flow	$1.45B +23.5%	$1.17B +16.2%	$1.01B +24.9%	$808.8M +13.4%	$713.0M +5.1%	$678.2M

AI Insight: BRO Financial Trends

Revenue surged 35% year-over-year to $1,901M in Q1 2026, but total debt more than doubled from $4,049M to $9,060M over the period.

• Revenue accelerated from $1,404M in Q1 2025 to $1,901M in Q1 2026, marking 35% year-over-year growth.

• Net income jumped 29% year-over-year from $331M in Q1 2025 to $426M in Q1 2026.

• Operating cash flow showed volatility, dropping from $468M in Q3 2025 to $262M in Q1 2026.

⚠ Total debt doubled from $4,049M in Q4 2024 to $8,332M in Q4 2025, reaching $9,060M in Q1 2026.

⚠ Operating cash flow volatility continues with wide quarterly swings between $213M and $468M over recent periods.

AI Insight: BRO Ratio Trends

Operating margin recovered to 28.0% in Q1 2026 after hitting a low of 19.4% in Q3 2025, but profitability remains well below 2024-2025 peaks.

• Operating margin improved from 20.0% in Q4 2025 to 28.0% in Q1 2026, suggesting seasonal recovery.

• ROIC rebounded to 23.5% in Q1 2026 from 15.4% in Q4 2025, though still below 44.0% peak in Q1 2025.

• Net profit margin reached 22.4% in Q1 2026, recovering from the 14.1% trough in Q3 2025.

⚠ ROIC has declined from 44.0% peak in Q1 2025 to current levels around 15-24%, indicating deteriorating capital efficiency.

⚠ Quarterly margin volatility remains high with operating margins swinging from 19.4% to 30.4% across recent quarters.

Get alerted when BRO's score changes

Free account: watchlist tracking, the daily AI brief, and the AI screener.

Passwordless sign-in · Payments by Stripe · Auth by Clerk

Available Research

13F Pro tracks comprehensive data for BROWN & BROWN, INC. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of BRO

BlackRock, Inc.
$1.4B21,916,747 sh
VANGUARD CAPITAL MANAGEMENT LLC
$1.2B18,921,240 sh
Capital World Investors
$1.1B16,493,922 sh
FMR LLC
$1.0B16,050,696 sh
PRINCIPAL FINANCIAL GROUP INC
$1.0B15,608,720 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$951.2M14,586,476 sh
STATE STREET CORP
$898.4M13,776,462 sh
First Eagle Investment Management, LLC
$575.4M8,823,162 sh
GEODE CAPITAL MANAGEMENT, LLC
$528.8M8,138,153 sh
Select Equity Group, L.P.
$523.1M8,022,123 sh

Fund	Value	Shares
BlackRock, Inc.	$1.4B	21,916,747
VANGUARD CAPITAL MANAGEMENT LLC	$1.2B	18,921,240
Capital World Investors	$1.1B	16,493,922
FMR LLC	$1.0B	16,050,696
PRINCIPAL FINANCIAL GROUP INC	$1.0B	15,608,720
VANGUARD PORTFOLIO MANAGEMENT LLC	$951.2M	14,586,476
STATE STREET CORP	$898.4M	13,776,462
First Eagle Investment Management, LLC	$575.4M	8,823,162
GEODE CAPITAL MANAGEMENT, LLC	$528.8M	8,138,153
Select Equity Group, L.P.	$523.1M	8,022,123

More Financials Companies

View all Financials →

AAAU

Goldman Sachs Physical Gold ETF

AACB

Artius II Acquisition Inc.

AACI

Armada Acquisition Corp. III

AACO

Abony Acquisition Corp. I

AACP

Apogee Acquisition Corp

AAC-UN

Ares Acquisition Corp III

AAME

ATLANTIC AMERICAN CORP

AAMI

Acadian Asset Management Inc.

Put BRO on your watchlist

Track score changes the day BROWN & BROWN, INC. files with the SEC, follow the hedge funds that own it, screen 2,800+ AI-scored stocks, and get the daily brief — free.

View Pricing

Free tier includes 13F data, economic indicators, and market overview. Pro starts at $6.67/mo (billed annually).

Passwordless sign-in · Payments by Stripe · Auth by Clerk

Popular Research

AAPL

Apple

MSFT

Microsoft

NVDA

NVIDIA

GOOG

Alphabet

AMZN

Amazon

Is BRO a good stock to buy?

13F Pro's AI-powered analysis of BROWN & BROWN, INC. (BRO) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Financials sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for BRO are available on the BRO stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own BRO?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling BRO. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of BROWN & BROWN, INC.'s investment landscape.