How does Brown & Brown (BRO) make money?

Brown & Brown (BRO) generates revenue primarily from Retail, which accounted for 50.4% of total revenue in TTM through Q1 2026. The company reported $6.42B in revenue and converted 17.9% of it into net profit, equivalent to roughly $1.15B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Brown & Brown (BRO)?

Brown & Brown (BRO) reported a gross profit margin of 59.4% in TTM through Q1 2026, equivalent to $3.81B in gross profit on $6.42B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Brown & Brown (BRO)?

Brown & Brown (BRO) reported an operating profit margin of 26.8% in TTM through Q1 2026, equivalent to $1.72B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Brown & Brown (BRO)?

Brown & Brown (BRO) reported a net profit margin of 17.9% in TTM through Q1 2026, equivalent to $1.15B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Brown & Brown (BRO) profitable?

Yes. Brown & Brown (BRO) reported $1.15B in net income for TTM through Q1 2026, with a net profit margin of 17.9%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does Brown & Brown (BRO) spend on capital expenditures?

Brown & Brown (BRO) spent $24.00M on capital expenditures (CapEx) during TTM through Q1 2026, roughly 0.4% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Brown & Brown (BRO) generate?

Brown & Brown (BRO) generated $1.48B in free cash flow during TTM through Q1 2026, a free-cash-flow margin of 23.0%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of Brown & Brown (BRO)?

Brown & Brown (BRO) had an effective tax rate of 21.6% in TTM through Q1 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of Brown & Brown (BRO)?

Brown & Brown (BRO) reports revenue across 4 reportable product segments, led by Retail at 50.4% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

Where does Brown & Brown (BRO) generate most of its revenue?

UNITED STATES is the largest geographic market for Brown & Brown (BRO), accounting for 90% of revenue in the most recent annual filing. The complete regional split — including international markets and any Rest-of-World rollup — is shown in the revenue-by-geography table on this page.

How Brown & Brown Makes Money: 2026 Visual Revenue Map

Brown & Brown (BRO) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported April 27, 2026).

Brown & Brown (BRO) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Brown & Brown (BRO) in TTM through Q1 2026.
Segment	Revenue (USD)	% of total
Retail	$3.24B	50.4%
Specialty Distribution	$2.70B	42%
Programs	$332.46M	5.2%
Wholesale Brokerage	$158.81M	2.5%
Total	$6.42B	100%

Retail$3.24B
Specialty Distribution$2.70B
Programs$332.46M
Wholesale Brokerage$158.81M
Total$6.42B

Brown & Brown (BRO) Revenue by Geography — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported regions changed mid-year.

Revenue contribution by geographic region for Brown & Brown (BRO), TTM through Q1 2026
Region	Revenue (USD)	% of total
UNITED STATES	$5.52B	90%
UNITED KINGDOM	$614.00M	10%
Total	$6.14B	100%

UNITED STATES
UNITED KINGDOM
Total

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, Brown & Brown (BRO) reports revenue across 4 operating segments; the largest segment was Retail at 50.4%, followed by Specialty Distribution (42%) and Programs (5.2%). Separately, by end-market geography, UNITED STATES accounted for 90% of revenue, followed by UNITED KINGDOM (10%).

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