Question 1

What is Brown & Brown's EV/EBITDA ratio?

Accepted Answer

Brown & Brown (BRO) EV/EBITDA ratio is 12.5× as of June 5, 2026. The ratio is calculated by dividing enterprise value by trailing twelve-month EBITDA, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the EV/EBITDA ratio calculated?

Accepted Answer

EV/EBITDA = Enterprise Value ÷ Trailing Twelve-Month (TTM) EBITDA, where Enterprise Value = Market Capitalisation + Total Debt − Cash & Short-Term Investments. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the EV/EBITDA ratio?

Accepted Answer

The EV/EBITDA ratio (the enterprise multiple) compares enterprise value (EV) to trailing twelve-month (TTM) EBITDA. EV is calculated as market capitalisation + total debt − cash & short-term investments. Because EV/EBITDA is capital-structure-neutral and ignores non-cash depreciation and amortisation, it is the standard multiple used in M&A and for cross-company or cross-border comparisons. Note: this calculation uses a simplified EV (minority interest and preferred equity excluded due to data availability), consistent with most public financial-data providers.

Question 4

What is a good EV/EBITDA ratio for Brown & Brown?

Accepted Answer

Mature, cash-generative businesses commonly trade in the 8–12× EV/EBITDA range; higher-growth, asset-light companies often trade at 15–25×+. EV/EBITDA is most useful for comparing companies with different capital structures (debt levels) or tax regimes. For Brown & Brown specifically, the relevant sector benchmark is the current sector median of 9.3×.

Question 5

Is Brown & Brown's EV/EBITDA ratio high or low?

Accepted Answer

Brown & Brown's EV/EBITDA ratio of 12.5× is below its own 5-year average of 17.5× and above the sector median of 9.3×. That places the current reading at the 2th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Brown & Brown's historical EV/EBITDA ratio range?

Accepted Answer

In the available daily series, Brown & Brown (BRO) EV/EBITDA ratio has ranged from a low of 4.7× in 2001 to a high of 22.4× in 2025. The 5-year average is 17.5× and the 5-year median is 17.1×.

Question 7

What was Brown & Brown's EV/EBITDA ratio in 2025?

Accepted Answer

Brown & Brown (BRO) EV/EBITDA ratio at the end of 2025 was 16.3×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month EBITDA figure available at that date.

Question 8

Why does Brown & Brown's EV/EBITDA ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (enterprise value, which tracks share price plus net debt) and the denominator (EBITDA). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$26.54B	$2.05B	16.3×	-2.3×	Dec 31, 2025
2024	$28.87B	$1.73B	18.6×	+3.6×	Dec 31, 2024
2023	$19.94B	$1.55B	15.0×	-1.0×	Dec 31, 2023
2022	$15.84B	$1.21B	16.0×	-5.2×	Dec 31, 2022
2021	$19.44B	$991.72M	21.2×	+3.4×	Dec 31, 2021
2020	$13.08B	$819.81M	17.8×	+1.1×	Dec 31, 2020
2019	$10.76B	$719.79M	16.6×	+2.7×	Dec 31, 2019
2018	$7.51B	$613.03M	14.0×	+1.7×	Dec 31, 2018
2017	$6.97B	$596.92M	12.3×	+0.6×	Dec 31, 2017
2016	$6.13B	$571.32M	11.7×	+2.4×	Dec 31, 2016
2015	$4.44B	$550.83M	9.3×	-2.0×	Dec 31, 2015
2014	$4.61B	$472.55M	11.3×	+0.9×	Dec 31, 2014
2013	$4.49B	$459.96M	10.3×	+0.9×	Dec 31, 2013
2012	$3.56B	$400.49M	9.4×	+0.6×	Dec 31, 2012
2011	$3.14B	$351.80M	8.8×	-0.7×	Dec 31, 2011
2010	$3.31B	$344.65M	9.5×	+1.9×	Dec 31, 2010
2009	$2.47B	$332.45M	7.6×	-1.3×	Dec 31, 2009
2008	$2.90B	$347.11M	8.9×	-0.2×	Dec 31, 2008
2007	$3.25B	$378.53M	9.1×	-2.9×	Dec 31, 2007
2006	$3.94B	$341.20M	12.0×	-2.6×	Dec 31, 2006
2005	$4.23B	$301.90M	14.6×	+2.1×	Dec 31, 2005
2004	$3.00B	$245.16M	12.5×	+1.6×	Dec 31, 2004
2003	$2.23B	$205.78M	10.8×	-2.8×	Dec 31, 2003
2002	$2.17B	$160.61M	13.6×	+8.9×	Dec 31, 2002
2001	$1.71B	$380.30M	4.7×	—	Dec 31, 2001


Wells Fargo (WFC)	2.9×
Farmers & Merchants Bancorp (FMCB)	2.8×
JPMorgan Chase (JPM)	2.3×
AXIS Capital Holdings (AXS)	2.2×
American International Group (AIG)	1.9×
Ally Financial (ALLY)	1.7×
United Bankshares (UBSI)	1.6×
Commerce Bancshares (CBSH)	0.7×
W. R. Berkley (WRB)	-0.0×
Morgan Stanley (MS)	-0.3×
M&T Bank (MTB)	-0.6×
Capital One Financial (COF)	-0.6×
Everest Re Group (EG)	-0.7×
Travelers Companies (TRV)	-2.5×
Globe Life (GL-PD)	-2.6×
RenaissanceRe Holdings (RNR)	-3.5×
PNC Financial Services Group (PNC)	-3.8×
BancFirst (BANF)	-5.5×
U.S. Bancorp (USB)	-5.5×
KeyCorp (KEY)	-9.2×
Bank of New York Mellon (BNY)	-13.3×
Bank of New York Mellon (BK)	-13.3×
Ames National (ATLO)	-14.6×
State Street (STT)	-17.7×
MetLife (MET)	-46.3×

EV/EBITDA for Brown & Brown (BRO)

EV/EBITDA daily chart for Brown & Brown (BRO)

Historical EV/EBITDA for Brown & Brown (BRO) from 2001 to 2025

About EV/EBITDA at Brown & Brown (BRO)

Brown & Brown EV/EBITDA by Year

Brown & Brown EV/EBITDA 2025: 16.3×

Brown & Brown EV/EBITDA 2024: 18.6×

Brown & Brown EV/EBITDA 2023: 15.0×

Brown & Brown EV/EBITDA 2022: 16.0×

Brown & Brown EV/EBITDA 2021: 21.2×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

Brown & Brown (BRO) Key Financials

EV/EBITDA daily chart for Brown & Brown (BRO)

Historical EV/EBITDA for Brown & Brown (BRO) from 2001 to 2025

About EV/EBITDA at Brown & Brown (BRO)

Brown & Brown EV/EBITDA by Year

Brown & Brown EV/EBITDA 2025: 16.3×

Brown & Brown EV/EBITDA 2024: 18.6×

Brown & Brown EV/EBITDA 2023: 15.0×

Brown & Brown EV/EBITDA 2022: 16.0×

Brown & Brown EV/EBITDA 2021: 21.2×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

+What is Brown & Brown's EV/EBITDA ratio?

+How is the EV/EBITDA ratio calculated?

+What is the EV/EBITDA ratio?

+What is a good EV/EBITDA ratio for Brown & Brown?

+Is Brown & Brown's EV/EBITDA ratio high or low?

+What is Brown & Brown's historical EV/EBITDA ratio range?

+What was Brown & Brown's EV/EBITDA ratio in 2025?

+Why does Brown & Brown's EV/EBITDA ratio change over time?

Brown & Brown (BRO) Key Financials