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Brown & Brown, Inc.

BRO

Financial Statements

Income Statement (Annual)

Amounts in millions

2024

12/31/2024

Revenue
4,705
Cost of Revenue
2,406
Gross Profit
2,299
Gross Margin
48.9%
Operating Income
1,367
Operating Margin
29.1%
Net Income
993
Net Margin
21.1%
EPS (Basic)
$3.48
EPS (Diluted)
$3.46
EBITDA
1,726
EBITDA Margin
36.7%

2023

12/31/2023

Revenue
4,199
Cost of Revenue
2,187
Gross Profit
2,012
Gross Margin
47.9%
Operating Income
1,156
Operating Margin
27.5%
Net Income
871
Net Margin
20.7%
EPS (Basic)
$3.07
EPS (Diluted)
$3.05
EBITDA
1,549
EBITDA Margin
36.9%

2022

12/31/2022

Revenue
3,563
Cost of Revenue
1,817
Gross Profit
1,746
Gross Margin
49.0%
Operating Income
963
Operating Margin
27.0%
Net Income
672
Net Margin
18.9%
EPS (Basic)
$2.38
EPS (Diluted)
$2.37
EBITDA
1,210
EBITDA Margin
34.0%

2021

12/31/2021

Revenue
3,048
Cost of Revenue
1,637
Gross Profit
1,411
Gross Margin
46.3%
Operating Income
855
Operating Margin
28.0%
Net Income
587
Net Margin
19.3%
EPS (Basic)
$2.08
EPS (Diluted)
$2.07
EBITDA
981
EBITDA Margin
32.2%

2020

12/31/2020

Revenue
2,606
Cost of Revenue
1,436
Gross Profit
1,170
Gross Margin
44.9%
Operating Income
669
Operating Margin
25.7%
Net Income
481
Net Margin
18.4%
EPS (Basic)
$1.70
EPS (Diluted)
$1.69
EBITDA
818
EBITDA Margin
31.4%