BROWN & BROWN, INC.

Insurance Agents, Brokers & Service·DAYTONA BEACH, FL·FY end 01/19·CIK 79282

CEO Pay Ratio

117:1

J. Powell Brown

CEO Total Comp

$8.6M

J. Powell Brown

Median Employee

$74,010

Revenue

$5.9B

FY 2025

Net Income

$1.1B

FY 2025

Free Cash Flow

$1.4B

FY 2025

Net Margin

17.9%

Insider Net (180d)

0 buys / 0 sales

CEO Pay Accountability

CEO comp as % of net income

0.82%

For every $1,000 of profit, $8.20 flows to the CEO.

CEO comp as % of buybacks

8.64%

CEO comp equals 86.4‰ of cash returned to shareholders via buybacks.

5-year history · USD

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	Trend
Revenue	$5.9B	$4.8B	$4.3B	$3.6B	$3.1B
Gross Profit	—	—	—	—	—	—
Operating Income	—	—	—	—	—	—
Net Income	$1.1B	$993.0M	$870.5M	$671.8M	$587.1M
Operating CF	$1.4B	$1.2B	$1.0B	$881.4M	$942.5M
Capex	$68.0M	$82.0M	$68.9M	$52.6M	$45.0M
Free Cash Flow	$1.4B	$1.1B	$940.6M	$828.8M	$897.4M
Buybacks	$100.0M	—	$100.0K	$74.1M	$82.6M
Dividends	—	—	—	—	—	—

Gross Margin	—	—	—	—	—	—
Operating Margin	—	—	—	—	—	—
Net Margin	17.9%	20.7%	20.4%	18.8%	19.2%
FCF Margin	23.4%	22.7%	22.1%	23.2%	29.4%
R&D / Revenue	—	—	—	—	—	—
Effective Tax	22.2%	23.1%	24.0%	23.3%	23.0%
Debt / Equity	—	—	1.26	1.66	0.95
Buybacks / FCF	7.2%	—	0.0%	8.9%	9.2%

FY 2025

Executive	Salary	Stock	Options	Bonus / Inc.	Other	Total
J. Powell BrownChief Executive Officer and President	$1.3M	$3.0M	—	$4.0M	$384.3K	$8.6M
R. Andrew WattsChief Financial Officer Executive Vice President and Treasurer	$800.0K	$1.3M	—	$1.6M	$96.0K	$3.7M
P. Barrett BrownExecutive Vice President	$1.0M	$690.3K	—	$1.7M	$56.8K	$3.5M
Chris L. WalkerExecutive Vice President and Chairman – Specialty Distribution Segment	$900.0K	$887.6K	—	$1.5M	$70.4K	$3.4M