Credit and interest ratesnegative · 5 filings
“These agreements bear interest on a floating basis and are therefore subject to changes in the associated interest expense.”10-Q · Jul 27, 2026 ↗
Brown & Brown, Inc.
BRO
Market read
Brown & Brown, Inc.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 14 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 3 directly disclosed connections are confirming.
Company-0.4% todayVolume comparison unavailable
Market group0 of 14 activeMixed Service Stocks · unavailable
Disclosed network0 of 3 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- On June 5, 2026 the company entered a Third Amended and Restated Credit Agreement with JPMorgan and others; the Revolving Credit Facility contains an expansion option up to $1,000M, subject to lender approval.
Invalidation: The isolated read changes if BRO's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 14 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 3 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- On June 5, 2026 the company entered a Third Amended and Restated Credit Agreement with JPMorgan and others; the Revolving Credit Facility contains an expansion option up to $1,000M, subject to lender approval.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations601
Usable filing statements129
Verified relationships3
Evidence supporting the case
- Latest annual revenue changed +22.8% year over year.
- Operating cash flow covered net income at 1.38x in the latest annual period.
Evidence challenging the case
- Net margin changed -2.8 percentage points in the latest annual period.
- Diluted shares increased 10.2% in the latest annual period.
- Credit and interest rates has repeated adverse evidence across 5 filings.
Questions before a position
No credible peer-relative valuation comparison is available yet.
Longer-term price context
Price as of Sep 10, 2026
66.316m-3.0%12m-29.1%24m-36.6%
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-31$3.1B+16.8%—+0.6%
2022-12-31$3.6B+17.1%—+0.6%
2023-12-31$4.3B+19.1%—+0.7%
2024-12-31$4.8B+12.9%—+1.1%
2025-12-31$5.9B+22.8%—+10.2%
What management says matters
Persistent and emerging business drivers
Legal and regulatory exposurenegative · 5 filings
“The increase in EBITDAC Margin - Adjusted was primarily driven by: (i) increased Contingents; (ii) leveraging our expense base; and (iii) lower compensation as a result of employee departures associated with the Litigation-Related Impact.”10-Q · Jul 27, 2026 ↗
Foreign exchangemixed · 1 filings
“NOTE 12 Supplemental Disclosures of Cash Flow Inform ation and Non-Cash Financing and Investing Activities During 2025, the Company had an impact of $ 64 million of foreign exchange rate changes on cash, cash equivalents and restricted cash inclusive of fiduc…”10-K · Feb 12, 2026 ↗
Valuation discipline
Peer-relative valuation withheld
Jodie found no industry-matched filing peers suitable for a valuation comparison. It will not substitute broader financial-sector names.
Scenario scaffold
Scenarios are withheld for Financial Services until sector-specific earnings and capital metrics are available; generic revenue/P/S scaffolds would be misleading.
Price action
How the market is pricing the story
66.31-0.4% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for BRO. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for BRO. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind BRO
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
KIQSFFiling-linked nameinvesteeFeb 12, 2026 ▾
“The acquisition was completed pursuant to an Agreement and Plan of Merger (the “Merger Agreement”), by and among RSC, the Company, Encore Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of the Company and Kelso RSC (Investor), L.P., a Del…”
JPMJPMorgan Chase & Co.lenderFeb 12, 2026 ▾
“On October 27, 2021, the Company entered into an amended and restated credit agreement (the “Second Amended and Restated Credit Agreement”) with the lenders named therein, JPMorgan Chase Bank, N.A.”
TFCTruist Financial CorporationlenderFeb 12, 2026 ▾
“On October 27, 2021, the Company entered into an amended and restated credit agreement (the “Second Amended and Restated Credit Agreement”) with the lenders named therein, JPMorgan Chase Bank, N.A.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 4 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
BRO is currently a Leader in the organic co-movement group Mixed Service Stocks. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.