Added to YB: 2026-05-19
Pitch date: 2026-05-16
BRO [neutral]
Brown & Brown, Inc.
+3.44%
current return
Author Info
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Company Info
Brown & Brown, Inc. markets and sells insurance products and services in the United States, the United Kingdom, and internationally.
Market Cap
$19.1B
Pitch Price
$56.16
Price Target
N/A
Dividend
1.17%
EV/EBITDA
10.21
P/E
18.02
EV/Sales
4.19
Sector
Insurance
Category
value
Brown & Brown Fell 51%: Cheap Broker or Slower Compounder?
BRO (overview): Insurance broker, $5.9B rev (+23%), $1.3B owner earnings, but organic growth slowed to ~3% in 2025 vs 10% in 2024. Completed 43 acquisitions including $1.8B Accession deal; shares rose 286M to 336M (dilution risk). Net debt ~$6.8B post-Accession (~5x owner earnings). At $56 (~51% off highs), trades 11-13x normalized owner earnings (~8-9% yield). Underwriting 5-9% EPS growth + 1% yield. Moat & mgmt solid, but serial acquirer now more acquisition-dependent. Valuation interesting if organic growth stabilizes.
Read full article (5 min)