金脈コード
企業一覧に戻る

BROWN & BROWN, INC（BRO）の決算・業績分析

BROWN & BROWN, INCの2025年有価証券報告書をAI分析。売上高$5.9B(+22.8%)。Other。

目次
SUMMARY — 業績サマリー

BROWN & BROWN, INCの2025年度 業績サマリー

BROWN & BROWN, INC（証券コード: BRO）の2025年度決算・業績分析。売上高は$5.9B（前年比+22.8%）。純利益は$1.1B（前年比+6.1%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。

BROWN & BROWN, INCの2024年度 注目ポイント

※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。

  1. Revenue reached $3.6B (+17.1% YoY) with a 5-year CAGR of 16.1% (XBRL).
  2. Net income grew to $672M (+14.5% YoY) with net margin of 18.8% (XBRL).
  3. Free cash flow (FCF) totaled $829M, driven by $881M operating cash flow and $52M CapEx (XBRL).
  4. Net debt stood at $2.6B (2.8x EBITDA), with long-term debt of $3.2B (XBRL).
  5. ROE of 16.0% and ROA of 4.5% reflect capital efficiency (XBRL).

BROWN & BROWN, INCの売上高変化の要因

  • •Revenue grew to $3.6B (+17.1% YoY) with a 5-year CAGR of 16.1% (XBRL). Historical data shows consistent expansion from $2.0B (2020) to $3.6B (2024). Growth drivers include segment diversification (Retail, Programs, Wholesale Brokerage) and service expansion (claims administration, Medicare Set-aside) (10-K). No segment-specific revenue breakdown is available in the provided data (XBRL).

BROWN & BROWN, INCの営業利益変化の要因

  • •Operating income rose to $876M, with EBITDA of $915M (25.6% margin) and net income of $672M (+14.5% YoY) (XBRL). Operating margin of 24.5% and net margin of 18.8% reflect strong cost control and efficient operations. YoY revenue growth outpaced net income growth, suggesting margin compression or increased investment (XBRL).

BROWN & BROWN, INCの事業リスクと対応

Inability to retain qualified employees could harm operations and innovation (10-K).

Cybersecurity threats may disrupt operations, damage reputation, and increase compliance costs (10-K).

Poor succession planning for senior leaders risks operational continuity (10-K).

Regulatory changes may weaken enforcement of employment restrictions, increasing talent competition (10-K).

Cybersecurity attacks on IT systems could lead to data breaches and service disruptions (10-K).

BROWN & BROWN, INCの事業内容

BROWN & BROWN, INC. operates as a diversified insurance agency and wholesale brokerage, generating revenue through commissions from insurance companies and fees for services like claims administration and medical utilization management (10-K). Key segments include Retail (commercial/individual insurance, non-insurance warranty services), Programs (professional liability, flood coverage), Wholesale Brokerage (excess/surplus insurance), and Services (claims administration, medical utilization management) (10-K). Competitive advantages include a nationwide agent network, captive insurance participation, and diversified offerings (10-K).

BROWN & BROWN, INCのAI業績分析レポート（2024年度）

Annual Report Analysis: BROWN & BROWN, INC. (BRO) FY2024

Highlights
•Revenue: $3.6B (+17.1% YoY) with 5-year CAGR of 16.1% (XBRL).
•Net Income: $672M (+14.5% YoY) at 18.8% margin (XBRL).
•FCF: $829M driven by $881M operating cash flow (XBRL).
•Leverage: Net debt of $2.6B (2.8x EBITDA) with $3.2B long-term debt (XBRL).
•ROE: 16.0% reflecting capital efficiency (XBRL).
Business Overview

BROWN & BROWN, INC. operates as a diversified insurance agency and wholesale brokerage, generating revenue through commissions and service fees (10-K). Key segments include Retail, Programs, Wholesale Brokerage, and Services (10-K). Competitive advantages include a nationwide agent network, captive insurance participation, and diversified offerings (10-K).

Revenue Analysis

Revenue grew to $3.6B (+17.1% YoY) with a 5-year CAGR of 16.1% (XBRL). Historical growth from $2.0B (2020) to $3.6B (2024) reflects expansion in segments like Retail and Programs (10-K). No segment-specific revenue breakdown is available in the provided data (XBRL).

Profitability Analysis

Operating income rose to $876M, with EBITDA of $915M (25.6% margin) and net income of $672M (+14.5% YoY) (XBRL). Operating margin of 24.5% and net margin of 18.8% reflect strong cost control. YoY revenue growth outpaced net income growth, suggesting margin compression or increased investment (XBRL).

Balance Sheet Analysis

Total assets grew to $14.9B (+120% YoY), with equity of $4.2B (28.2% equity ratio) (XBRL). Long-term debt of $3.2B and net debt of $2.6B (2.8x EBITDA) indicate moderate leverage. Current ratio of 1.04x suggests adequate short-term liquidity (XBRL). Cash reserves of $650M provide financial flexibility (XBRL).

Cash Flow Analysis

Operating cash flow totaled $881M, with FCF of $829M after $52M CapEx (XBRL). Investing cash flow was -$1.9B, likely reflecting strategic investments or acquisitions. Financing cash flow of $1.7B included $120M dividends and $74M share repurchases (XBRL).

Working Capital Analysis

N/A: Data on receivables, inventory, or payables days is not available in the provided XBRL or 10-K.

Risks
1.Inability to retain qualified employees could harm operations and innovation (10-K).
2.Cybersecurity threats may disrupt operations, damage reputation, and increase compliance costs (10-K).
3.Poor succession planning for senior leaders risks operational continuity (10-K).
4.Regulatory changes may weaken enforcement of employment restrictions, increasing talent competition (10-K).
5.Cybersecurity attacks on IT systems could lead to data breaches and service disruptions (10-K).
Outlook

N/A: Management guidance or forward-looking trends are not explicitly detailed in the provided 10-K or XBRL data.

Otherの企業一覧

BROWN & BROWN, INCと同じ「Other」セクターの企業

Arthur J. Gallagher & CoAJG売上 $13.9BAon plcAON売上 $17.2BARES CAPITAL CORPARCCBlackstone Secured Lending FundBXSLCARRIER GLOBAL CorpCARR売上 $21.7BERIE INDEMNITY COERIE売上 $4.1BEaton Corp plcETN売上 $27.4BFS KKR Capital CorpFSKGOLUB CAPITAL BDC, IncGBDCJohnson Controls International plcJCI売上 $23.6BLENNOX INTERNATIONAL INCLII売上 $5.2BMain Street Capital CORPMAIN