Brown & Brown Inc (BRO) - Net Assets
Based on the latest financial reports, Brown & Brown Inc (BRO) has net assets worth $12.57 Billion USD as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($29.99 Billion) and total liabilities ($17.42 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check BRO asset liquidity ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $12.57 Billion |
| % of Total Assets | 41.92% |
| Annual Growth Rate | 22.08% |
| 5-Year Change | 199.58% |
| 10-Year Change | 432.73% |
| Growth Volatility | 56.22 |
Brown & Brown Inc - Net Assets Trend (1985–2025)
This chart illustrates how Brown & Brown Inc's net assets have evolved over time, based on quarterly financial data. Also explore Brown & Brown Inc asset portfolio for the complete picture of this company's asset base.
Annual Net Assets for Brown & Brown Inc (1985–2025)
The table below shows the annual net assets of Brown & Brown Inc from 1985 to 2025. For live valuation and market cap data, see BRO stock market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $12.57 Billion | +95.32% |
| 2024-12-31 | $6.44 Billion | +15.38% |
| 2023-12-31 | $5.58 Billion | +21.11% |
| 2022-12-31 | $4.61 Billion | +9.76% |
| 2021-12-31 | $4.20 Billion | +11.79% |
| 2020-12-31 | $3.75 Billion | +12.06% |
| 2019-12-31 | $3.35 Billion | +11.65% |
| 2018-12-31 | $3.00 Billion | +16.18% |
| 2017-12-31 | $2.58 Billion | +9.43% |
| 2016-12-31 | $2.36 Billion | +9.79% |
| 2015-12-31 | $2.15 Billion | +1.70% |
| 2014-12-31 | $2.11 Billion | +5.31% |
| 2013-12-31 | $2.01 Billion | +11.06% |
| 2012-12-31 | $1.81 Billion | +9.94% |
| 2011-12-31 | $1.64 Billion | +9.14% |
| 2010-12-31 | $1.51 Billion | +9.96% |
| 2009-12-31 | $1.37 Billion | +10.32% |
| 2008-12-31 | $1.24 Billion | +13.15% |
| 2007-12-31 | $1.10 Billion | +18.09% |
| 2006-12-31 | $929.35 Million | +21.59% |
| 2005-12-31 | $764.34 Million | +22.43% |
| 2004-12-31 | $624.33 Million | +25.36% |
| 2003-12-31 | $498.04 Million | +26.58% |
| 2002-12-31 | $393.44 Million | +121.49% |
| 2001-12-31 | $177.64 Million | +146.47% |
| 2000-12-31 | $72.07 Million | -23.12% |
| 1999-12-31 | $93.75 Million | +11.33% |
| 1998-12-31 | $84.21 Million | +9.16% |
| 1997-12-31 | $77.14 Million | +14.65% |
| 1996-12-31 | $67.29 Million | +23.66% |
| 1995-12-31 | $54.41 Million | +23.37% |
| 1994-12-31 | $44.10 Million | +62.15% |
| 1993-12-31 | $27.20 Million | +104.51% |
| 1992-12-31 | $13.30 Million | -0.75% |
| 1991-12-31 | $13.40 Million | +42.55% |
| 1990-12-31 | $9.40 Million | +46.88% |
| 1989-12-31 | $6.40 Million | +64.10% |
| 1988-12-31 | $3.90 Million | +290.00% |
| 1987-12-31 | $1.00 Million | +42.86% |
| 1986-12-31 | $700.00K | -83.72% |
| 1985-12-31 | $4.30 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Brown & Brown Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 349350.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $6.99 Billion | 55.70% |
| Common Stock | $36.00 Million | 0.29% |
| Other Comprehensive Income | $210.00 Million | 1.67% |
| Other Components | $5.31 Billion | 42.34% |
| Total Equity | $12.55 Billion | 100.00% |
Brown & Brown Inc Competitors by Market Cap
The table below lists competitors of Brown & Brown Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Packaging Corp of America
NYSE:PKG
|
$19.62 Billion |
|
Aspeed Technology
TWO:5274
|
$19.62 Billion |
|
New China Life Insurance Co Ltd
SHG:601336
|
$19.65 Billion |
|
Liberty Media Corporation Series C Liberty Formula One Common Stock
NASDAQ:FWONK
|
$19.67 Billion |
|
Estee Lauder Companies Inc
NYSE:EL
|
$19.60 Billion |
|
Helvetia Holding AG
SW:HELN
|
$19.58 Billion |
|
IHH Healthcare Bhd
KLSE:5225
|
$19.57 Billion |
|
Royal Gold Inc
NASDAQ:RGLD
|
$19.56 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Brown & Brown Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 6,437,000,000 to 12,547,000,000, a change of 6,110,000,000 (94.9%).
- Net income of 1,054,000,000 contributed positively to equity growth.
- Dividend payments of 194,000,000 reduced retained earnings.
- Share repurchases of 100,000,000 reduced equity.
- New share issuances of 4,315,000,000 increased equity.
- Other comprehensive income increased equity by 319,000,000.
- Other factors increased equity by 716,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $1.05 Billion | +8.4% |
| Dividends Paid | $194.00 Million | -1.55% |
| Share Repurchases | $100.00 Million | -0.8% |
| Share Issuances | $4.32 Billion | +34.39% |
| Other Comprehensive Income | $319.00 Million | +2.54% |
| Other Changes | $716.00 Million | +5.71% |
| Total Change | $- | 94.92% |
Book Value vs Market Value Analysis
This analysis compares Brown & Brown Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.44x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 1693.63x to 1.44x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1985-12-31 | $0.03 | $57.63 | x |
| 1986-12-31 | $0.01 | $57.63 | x |
| 1987-12-31 | $0.01 | $57.63 | x |
| 1988-12-31 | $0.04 | $57.63 | x |
| 1989-12-31 | $0.06 | $57.63 | x |
| 1990-12-31 | $0.08 | $57.63 | x |
| 1991-12-31 | $0.11 | $57.63 | x |
| 1992-12-31 | $0.11 | $57.63 | x |
| 1993-12-31 | $0.14 | $57.63 | x |
| 1994-12-31 | $0.33 | $57.63 | x |
| 1995-12-31 | $0.40 | $57.63 | x |
| 1996-12-31 | $0.50 | $57.63 | x |
| 1997-12-31 | $0.24 | $57.63 | x |
| 1998-12-31 | $0.19 | $57.63 | x |
| 1999-12-31 | $0.30 | $57.63 | x |
| 2000-12-31 | $0.25 | $57.63 | x |
| 2001-12-31 | $0.69 | $57.63 | x |
| 2002-12-31 | $1.44 | $57.63 | x |
| 2003-12-31 | $1.81 | $57.63 | x |
| 2004-12-31 | $2.25 | $57.63 | x |
| 2005-12-31 | $2.73 | $57.63 | x |
| 2006-12-31 | $3.30 | $57.63 | x |
| 2007-12-31 | $4.02 | $57.63 | x |
| 2008-12-31 | $4.39 | $57.63 | x |
| 2009-12-31 | $4.98 | $57.63 | x |
| 2010-12-31 | $5.41 | $57.63 | x |
| 2011-12-31 | $5.86 | $57.63 | x |
| 2012-12-31 | $6.36 | $57.63 | x |
| 2013-12-31 | $7.04 | $57.63 | x |
| 2014-12-31 | $7.40 | $57.63 | x |
| 2015-12-31 | $7.67 | $57.63 | x |
| 2016-12-31 | $8.56 | $57.63 | x |
| 2017-12-31 | $9.30 | $57.63 | x |
| 2018-12-31 | $10.63 | $57.63 | x |
| 2019-12-31 | $12.20 | $57.63 | x |
| 2020-12-31 | $13.61 | $57.63 | x |
| 2021-12-31 | $15.13 | $57.63 | x |
| 2022-12-31 | $16.53 | $57.63 | x |
| 2023-12-31 | $19.87 | $57.63 | x |
| 2024-12-31 | $22.67 | $57.63 | x |
| 2025-12-31 | $40.09 | $57.63 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Brown & Brown Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 8.40%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 17.70%
- • Asset Turnover: 0.20x
- • Equity Multiplier: 2.39x
- Recent ROE (8.40%) is below the historical average (40.81%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1985 | 67.44% | 10.10% | 0.64x | 10.44x | $2.47 Million |
| 1986 | 628.57% | 13.29% | 0.65x | 73.14x | $4.33 Million |
| 1987 | 150.00% | 4.84% | 0.63x | 49.30x | $1.40 Million |
| 1988 | 105.13% | 11.82% | 0.74x | 12.00x | $3.71 Million |
| 1989 | 48.44% | 7.45% | 0.74x | 8.80x | $2.46 Million |
| 1990 | 43.62% | 8.78% | 0.57x | 8.71x | $3.16 Million |
| 1991 | 34.33% | 9.48% | 0.62x | 5.85x | $3.26 Million |
| 1992 | 9.77% | 2.48% | 0.59x | 6.68x | $-30.00K |
| 1993 | 29.41% | 8.37% | 0.72x | 4.90x | $5.28 Million |
| 1994 | 30.69% | 13.31% | 0.72x | 3.20x | $9.11 Million |
| 1995 | 27.20% | 13.91% | 0.70x | 2.78x | $9.36 Million |
| 1996 | 24.92% | 13.08% | 0.71x | 2.67x | $10.04 Million |
| 1997 | 24.61% | 13.23% | 0.74x | 2.52x | $11.27 Million |
| 1998 | 27.98% | 13.74% | 0.74x | 2.74x | $15.14 Million |
| 1999 | 26.00% | 14.22% | 0.80x | 2.28x | $16.49 Million |
| 2000 | 26.90% | 12.36% | 0.96x | 2.27x | $20.60 Million |
| 2001 | 30.76% | 14.77% | 0.75x | 2.79x | $36.38 Million |
| 2002 | 21.23% | 18.24% | 0.60x | 1.93x | $43.96 Million |
| 2003 | 22.15% | 20.18% | 0.63x | 1.74x | $60.52 Million |
| 2004 | 20.64% | 19.92% | 0.52x | 2.00x | $66.41 Million |
| 2005 | 19.70% | 19.16% | 0.49x | 2.10x | $74.12 Million |
| 2006 | 18.55% | 19.63% | 0.49x | 1.95x | $79.42 Million |
| 2007 | 17.40% | 19.90% | 0.49x | 1.79x | $81.21 Million |
| 2008 | 13.38% | 16.99% | 0.46x | 1.71x | $41.95 Million |
| 2009 | 11.19% | 15.84% | 0.44x | 1.62x | $16.31 Million |
| 2010 | 10.74% | 16.73% | 0.40x | 1.59x | $11.12 Million |
| 2011 | 9.98% | 16.30% | 0.39x | 1.59x | $-401.30K |
| 2012 | 10.18% | 15.48% | 0.38x | 1.73x | $3.31 Million |
| 2013 | 10.82% | 16.02% | 0.37x | 1.82x | $16.40 Million |
| 2014 | 9.79% | 13.20% | 0.32x | 2.35x | $-4.48 Million |
| 2015 | 11.32% | 14.68% | 0.33x | 2.33x | $28.34 Million |
| 2016 | 10.91% | 14.61% | 0.33x | 2.24x | $21.47 Million |
| 2017 | 15.47% | 21.52% | 0.32x | 2.23x | $141.36 Million |
| 2018 | 11.47% | 17.13% | 0.30x | 2.23x | $44.20 Million |
| 2019 | 11.89% | 16.71% | 0.31x | 2.28x | $63.49 Million |
| 2020 | 12.80% | 18.44% | 0.29x | 2.39x | $105.08 Million |
| 2021 | 13.99% | 19.26% | 0.31x | 2.33x | $167.41 Million |
| 2022 | 14.58% | 18.80% | 0.26x | 3.03x | $211.14 Million |
| 2023 | 15.60% | 20.45% | 0.29x | 2.67x | $312.60 Million |
| 2024 | 15.43% | 21.11% | 0.27x | 2.74x | $349.30 Million |
| 2025 | 8.40% | 17.70% | 0.20x | 2.39x | $-200.70 Million |
Industry Comparison
This section compares Brown & Brown Inc's net assets metrics with peer companies in the Insurance Brokers industry.
Industry Context
- Industry: Insurance Brokers
- Average net assets among peers: $714,854,778
- Average return on equity (ROE) among peers: 7.91%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Brown & Brown Inc (BRO) | $12.57 Billion | 67.44% | 1.39x | $19.62 Billion |
| Fanhua Inc. (AIFU) | $1.95 Billion | 13.72% | 0.58x | $162.32 Million |
| Arthur J Gallagher & Co (AJG) | $81.90 Million | 21.61% | 2.90x | $52.50 Billion |
| Aon PLC (AON) | $2.29 Billion | 14.15% | 6.12x | $66.82 Billion |
| Accelerant Holdings (ARX) | $350.00 Million | -26.20% | 5.28x | $1.50 Billion |
| The Baldwin Insurance Group, Inc. (BWIN) | $1.19 Billion | -2.58% | 1.42x | $2.12 Billion |
| Crawford & Company (CRD-A) | $215.69 Million | 6.96% | 3.14x | $310.54 Million |
| Crawford & Company (CRD-B) | $139.83 Million | 21.89% | 4.72x | $182.26 Million |
| CorVel Corp (CRVL) | $138.65 Million | 21.26% | 0.70x | $2.36 Billion |
| eHealth Inc (EHTH) | $77.60 Million | 0.39% | 0.40x | $41.02 Million |
About Brown & Brown Inc
Brown & Brown, Inc. markets and sells insurance products and services in the United States, the United Kingdom, and internationally. It operates through Retail and Specialty Distribution segments. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and … Read more