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32.31 (1y: +22%)
Market Cap 4.77 B P/E(ttm) 23.70
Enterprise Value 4.88 B P/B 2.50
BRO- NYSE (USA)
Brown & Brown, Inc.
  • Currently 1/5
Business Predictability Rank: 1-Star
Back Testing Results:
Average gain of all 1-Star stocks: 1.1% per year.
% of Stocks that are in still loss if held for 10yrs: 45%.
Read more:
What is Predictability Rank?
Performances of real portfolio
Top Ranked Predictable Companies
$32.31
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GuruFocus Financial Strength Rank measures how strong a companyย’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 7/10

vs
industry		 vs
history
Cash to Debt 0.507
BRO's Cash to Debt is ranked lower than
51% of the 385 Companies
in the Global Insurance Brokers industry.

( Industry Median: 4.11 vs. BRO: 0.507 )
BRO' s 10-Year Cash to Debt Range
Min: 0.16   Max: 5.86
Current: 0.51
0.16
5.86
Equity to Asset 0.578
BRO's Equity to Asset is ranked higher than
75% of the 385 Companies
in the Global Insurance Brokers industry.

( Industry Median: 0.31 vs. BRO: 0.578 )
BRO' s 10-Year Equity to Asset Range
Min: 0.36   Max: 0.63
Current: 0.58
0.36
0.63
Interest Coverage 18.9
BRO's Interest Coverage is ranked higher than
53% of the 385 Companies
in the Global Insurance Brokers industry.

( Industry Median: 10000.00 vs. BRO: 18.9 )
BRO' s 10-Year Interest Coverage Range
Min: 17   Max: 93
Current: 18.9
17
93
F-Score: 6
Z-Score: 3.49
M-Score: -2.87
GuruFocus Profitability Rank ranks how profitable a company is and how likely the companyย’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
ย•ย•3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rankย•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 6/10

vs
industry		 vs
history
Operating margin (%) 25.40
BRO's Operating margin (%) is ranked higher than
74% of the 385 Companies
in the Global Insurance Brokers industry.

( Industry Median: 13.90 vs. BRO: 25.40 )
BRO' s 10-Year Operating margin (%) Range
Min: 25.4   Max: 33.1
Current: 25.4
25.4
33.1
Net-margin (%) 15.3
BRO's Net-margin (%) is ranked higher than
73% of the 385 Companies
in the Global Insurance Brokers industry.

( Industry Median: 6.90 vs. BRO: 15.3 )
BRO' s 10-Year Net-margin (%) Range
Min: 14.8   Max: 20
Current: 15.3
14.8
20
ROE (%) 10.2
BRO's ROE (%) is ranked higher than
87% of the 385 Companies
in the Global Insurance Brokers industry.

( Industry Median: 3.40 vs. BRO: 10.2 )
BRO' s 10-Year ROE (%) Range
Min: 10   Max: 30.8
Current: 10.2
10
30.8
ROA (%) 5.9
BRO's ROA (%) is ranked higher than
89% of the 385 Companies
in the Global Insurance Brokers industry.

( Industry Median: 0.70 vs. BRO: 5.9 )
BRO' s 10-Year ROA (%) Range
Min: 5.9   Max: 12.7
Current: 5.9
5.9
12.7
ROC (Joel Greenblatt) (%) 798.80
BRO's ROC (Joel Greenblatt) (%) is ranked higher than
96% of the 385 Companies
in the Global Insurance Brokers industry.

( Industry Median: 0.00 vs. BRO: 798.80 )
BRO' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: 486.9   Max: 3180.1
Current: 798.8
486.9
3180.1
Revenue Growth (%) 4.7
BRO's Revenue Growth (%) is ranked higher than
86% of the 385 Companies
in the Global Insurance Brokers industry.

( Industry Median: 0.00 vs. BRO: 4.7 )
BRO' s 10-Year Revenue Growth (%) Range
Min: 0.7   Max: 21.6
Current: 4.7
0.7
21.6
EBITDA Growth (%) 4
BRO's EBITDA Growth (%) is ranked higher than
88% of the 385 Companies
in the Global Insurance Brokers industry.

( Industry Median: 0.00 vs. BRO: 4 )
BRO' s 10-Year EBITDA Growth (%) Range
Min: -2.1   Max: 26.1
Current: 4
-2.1
26.1
EPS Growth (%) 3.9
BRO's EPS Growth (%) is ranked higher than
89% of the 385 Companies
in the Global Insurance Brokers industry.

( Industry Median: 0.00 vs. BRO: 3.9 )
BRO' s 10-Year EPS Growth (%) Range
Min: -4.6   Max: 28.9
Current: 3.9
-4.6
28.9
ยป BRO's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades
Q2 2012

BRO Guru Trades in Q2 2012

Steven Cohen 740,392 sh (+43.31%)
Meridian Funds 2,509,315 sh (+14.66%)
Ruane Cunniff 2,811,009 sh (+0.52%)
Wallace Weitz 230,000 sh (unchged)
Westport Asset Management 778,261 sh (unchged)
Prem Watsa 12,000 sh (unchged)
Columbia Wanger 1,009,000 sh (unchged)
Tom Gayner 365,628 sh (unchged)
Joel Greenblatt Sold Out
Paul Tudor Jones Sold Out
Arnold Schneider Sold Out
Tweedy Browne 1,249,311 sh (-1.11%)
Chuck Royce 1,601,865 sh (-53.2%)
Jim Simons 207,500 sh (-74.63%)
» More
Q3 2012

BRO Guru Trades in Q3 2012

Jim Simons 243,040 sh (+17.13%)
Meridian Funds 2,788,015 sh (+11.11%)
Columbia Wanger 1,009,000 sh (unchged)
Westport Asset Management 778,261 sh (unchged)
Tom Gayner 365,628 sh (unchged)
Wallace Weitz 230,000 sh (unchged)
Prem Watsa 12,000 sh (unchged)
Ruane Cunniff 2,805,749 sh (-0.19%)
Tweedy Browne 1,198,684 sh (-4.05%)
Chuck Royce 887,200 sh (-44.61%)
Steven Cohen 252,150 sh (-65.94%)
» More
Q4 2012

BRO Guru Trades in Q4 2012

Columbia Wanger 1,609,000 sh (+59.46%)
Wallace Weitz 310,000 sh (+34.78%)
Tweedy Browne 1,330,329 sh (+10.98%)
Tom Gayner 365,628 sh (unchged)
Chuck Royce 887,200 sh (unchged)
Westport Asset Management 778,261 sh (unchged)
Prem Watsa Sold Out
Jim Simons Sold Out
Ruane Cunniff 2,794,443 sh (-0.4%)
Meridian Funds 2,534,000 sh (-9.11%)
Steven Cohen 152,137 sh (-39.66%)
» More
Q1 2013

BRO Guru Trades in Q1 2013

Ruane Cunniff 2,800,494 sh (+0.22%)
Columbia Wanger 1,609,000 sh (unchged)
Wallace Weitz 310,000 sh (unchged)
Westport Asset Management 778,261 sh (unchged)
Tom Gayner 365,628 sh (unchged)
Tweedy Browne 1,324,469 sh (-0.44%)
Meridian Funds 2,230,000 sh (-12%)
Chuck Royce 777,200 sh (-12.4%)
Steven Cohen 14,865 sh (-90.23%)
» More
» Details

Insider Trades

Latest Guru Trades with BRO

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Wallace Weitz 2012-12-31 Add 34.78%0.09%$25.15 - $27.01 $ 32.3124%310000
Prem Watsa 2012-12-31 Sold Out 0.02%$25.15 - $27.01 $ 32.3124%0
Meridian Funds 2012-09-30 Add 11.11%0.26%$24.83 - $27.61 $ 32.3124%2788015
Meridian Funds 2012-06-30 Add 14.66%0.29%$23.47 - $27.11 $ 32.3126%2509315
Joel Greenblatt 2012-06-30 Sold Out 0.12%$23.47 - $27.11 $ 32.3126%0
Meridian Funds 2012-03-31 Add 87.8%0.7%$22.29 - $24.87 $ 32.3148%2188427
Tweedy Browne 2011-12-31 Reduce -27.15%0.35%$17 - $22.82 $ 32.3155%1353561
Wallace Weitz 2011-12-31 Reduce -61.54%0.33%$17 - $22.82 $ 32.3155%240380
Joel Greenblatt 2011-12-31 Add 32.53%0.04%$17 - $22.82 $ 32.3155%53644
Meridian Funds 2011-09-30 Reduce -49.45%0.86%$17.4 - $26.06 $ 32.3155%1166527
Wallace Weitz 2011-09-30 Add 42.36%0.16%$17.4 - $26.06 $ 32.3155%625037
Joel Greenblatt 2011-09-30 Add 263.4%0.09%$17.4 - $26.06 $ 32.3155%40476
Ron Baron 2011-09-30 Sold Out 0.0885%$17.4 - $26.06 $ 32.3155%0
Joel Greenblatt 2011-06-30 Add 24.94%0.01%$25.01 - $26.78 $ 32.3126%11138
Meridian Funds 2011-03-31 Add 16.45%0.27%$23.87 - $26.51 $ 32.3129%2433767
Joel Greenblatt 2011-03-31 New Buy0.07%$23.87 - $26.51 $ 32.3129%8915
Ron Baron 2011-03-31 Reduce -35.35%0.05%$23.87 - $26.51 $ 32.3129%716414
Mario Gabelli 2011-03-31 Sold Out $23.87 - $26.51 $ 32.3129%0
Meridian Funds 2010-12-31 Add 7.12%0.11%$19.96 - $24.2 $ 32.3143%2090022
Mario Gabelli 2010-09-30 New Buy$18.9 - $20.5 $ 32.3164%15270
Meridian Funds 2010-06-30 Add 16.33%0.23%$17.73 - $20.39 $ 32.3167%1892837
Tweedy Browne 2010-03-31 Add 572.7%1.5%$16.5 - $18.29 $ 32.3184%2575988
Premium More recent guru trades are included for Premium Members only!!
ยป Financial Charts

Peter Lynch Chart

Ratios

vs
industry		 vs
history
P/E(ttm) 23.70
BRO's P/E(ttm) is ranked higher than
57% of the 260 Companies
in the Global Insurance Brokers industry.

( Industry Median: 21.70 vs. BRO: 23.70 )
BRO' s 10-Year P/E(ttm) Range
Min: 12.92   Max: 41.02
Current: 23.7
12.92
41.02
P/B 2.50
BRO's P/B is ranked lower than
63% of the 320 Companies
in the Global Insurance Brokers industry.

( Industry Median: 1.08 vs. BRO: 2.50 )
BRO' s 10-Year P/B Range
Min: 1.52   Max: 13.44
Current: 2.5
1.52
13.44
P/S 3.73
BRO's P/S is ranked higher than
53% of the 335 Companies
in the Global Insurance Brokers industry.

( Industry Median: 2.65 vs. BRO: 3.73 )
BRO' s 10-Year P/S Range
Min: 2.3   Max: 6.17
Current: 3.73
2.3
6.17
PFCF 14.80
BRO's PFCF is ranked higher than
54% of the 211 Companies
in the Global Insurance Brokers industry.

( Industry Median: 12.15 vs. BRO: 14.80 )
BRO' s 10-Year PFCF Range
Min: 6.03   Max: 49.64
Current: 14.8
6.03
49.64
EV-to-EBIT 15.2
BRO's EV-to-EBIT is ranked higher than
62% of the 250 Companies
in the Global Insurance Brokers industry.

( Industry Median: 16.20 vs. BRO: 15.2 )
BRO' s 10-Year EV-to-EBIT Range
Min: 8.7   Max: 41.1
Current: 15.2
8.7
41.1
PEG 7.1
BRO's PEG is ranked lower than
65% of the 79 Companies
in the Global Insurance Brokers industry.

( Industry Median: 1.51 vs. BRO: 7.1 )
BRO' s 10-Year PEG Range
Min: 0.21   Max: 74.21
Current: 7.1
0.21
74.21
Shiller P/E 25.7
BRO's Shiller P/E is ranked lower than
100% of the Companies
in the Global Insurance Brokers industry.

( Industry Median: vs. BRO: 25.7 )
BRO' s 10-Year Shiller P/E Range
Min: 13.53   Max: 44.59
Current: 25.7
13.53
44.59

Dividend & Buy Back

vs
industry		 vs
history
Dividend Yield 1.10
BRO's Dividend Yield is ranked lower than
59% of the 385 Companies
in the Global Insurance Brokers industry.

( Industry Median: 1.47 vs. BRO: 1.10 )
BRO' s 10-Year Dividend Yield Range
Min: 0.46   Max: 1.82
Current: 1.1
0.46
1.82
Dividend Payout 0.2559
BRO's Dividend Payout is ranked higher than
82% of the 208 Companies
in the Global Insurance Brokers industry.

( Industry Median: 0.59 vs. BRO: 0.2559 )
BRO' s 10-Year Dividend Payout Range
Min: 0.15   Max: 0.28
Current: 0.26
0.15
0.28
Dividend growth (3y) 3.3
BRO's Dividend growth (3y) is ranked higher than
90% of the 385 Companies
in the Global Insurance Brokers industry.

( Industry Median: 0.00 vs. BRO: 3.3 )
BRO' s 10-Year Dividend growth (3y) Range
Min: 3.3   Max: 16
Current: 3.3
3.3
16
Yield on cost (5-Year) 1.38
BRO's Yield on cost (5-Year) is ranked higher than
51% of the 385 Companies
in the Global Insurance Brokers industry.

( Industry Median: 1.37 vs. BRO: 1.38 )
BRO' s 10-Year Yield on cost (5-Year) Range
Min: 0.58   Max: 2.28
Current: 1.38
0.58
2.28
Share Buyback Rate -0.8
BRO's Share Buyback Rate is ranked lower than
55% of the 385 Companies
in the Global Insurance Brokers industry.

( Industry Median: 0.00 vs. BRO: -0.8 )
BRO' s 10-Year Share Buyback Rate Range
Min: 0.6   Max: -5.5
Current: -0.8

Valuation & Return

vs
industry		 vs
history
Price/Net Current Asset Value 21.3
BRO's Price/Net Current Asset Value is ranked lower than
51% of the 185 Companies
in the Global Insurance Brokers industry.

( Industry Median: 6.90 vs. BRO: 21.3 )
BRO' s 10-Year Price/Net Current Asset Value Range
Min: 16.2   Max: 23.9
Current: 21.3
16.2
23.9
Price/DCF (Projected) 1.2
BRO's Price/DCF (Projected) is ranked higher than
53% of the 118 Companies
in the Global Insurance Brokers industry.

( Industry Median: 1.00 vs. BRO: 1.2 )
BRO' s 10-Year Price/DCF (Projected) Range
Min: 0.7   Max: 1.9
Current: 1.2
0.7
1.9
Price/Median PS Value 0.9
BRO's Price/Median PS Value is ranked higher than
71% of the 291 Companies
in the Global Insurance Brokers industry.

( Industry Median: 1.10 vs. BRO: 0.9 )
BRO' s 10-Year Price/Median PS Value Range
Min: 0.7   Max: 1.4
Current: 0.9
0.7
1.4
Earnings Yield (Greenblatt) 6.60
BRO's Earnings Yield (Greenblatt) is ranked higher than
72% of the 385 Companies
in the Global Insurance Brokers industry.

( Industry Median: 4.10 vs. BRO: 6.60 )
BRO' s 10-Year Earnings Yield (Greenblatt) Range
Min: 2.4   Max: 11.5
Current: 6.6
2.4
11.5
Forward Rate of Return (Yacktman) 7.48
BRO's Forward Rate of Return (Yacktman) is ranked higher than
88% of the 385 Companies
in the Global Insurance Brokers industry.

( Industry Median: 0.00 vs. BRO: 7.48 )
BRO' s 10-Year Forward Rate of Return (Yacktman) Range
Min: 5.1   Max: 103.9
Current: 7.48
5.1
103.9

Business Description

Brown & Brown, Inc. is a Florida Corporation, which operates as an insurance agency, wholesale brokerage, insurance programs and service organization with origins dating from 1939. It markets and sells to its customer's insurance products and services, mainly in the property, casualty and employee benefits areas. It provides its customers with quality, non-investment insurance contracts, as well as other targeted, customized risk management products and services. The Company's business is divided into four reportable operating segments: the Retail Division; the National Programs Division; the Wholesale Brokerage Division; and the Services Division. The Retail Division provides a broad range of insurance products and services to commercial, public entity, professional and individual customers. The National Programs Division contains two units: Professional Programs, which provides professional liability and related package products for certain professionals; and Special Programs, which markets targeted products and services to specific industries, trade groups, public entities, and market niches. The Wholesale Brokerage Division markets and sells excess and surplus commercial and personal insurance, and reinsurance, primarily through independent agents and brokers. The Services Division provides clients with third-party claims administration, consulting for the workers' compensation insurance market, comprehensive medical utilization management services in both workers' compensation and all-lines liability arenas, and Medicare Secondary Payer statute compliance-related services. At December 31, 2011, its Wholesale Brokerage Division employed 832 persons. Its Wholesale Brokerage Division markets and sells excess and surplus commercial insurance products and services to retail insurance agencies (including its retail offices), and reinsurance products and services to insurance companies throughout the United States. At December 31, 20011, its Services Division employed 465 persons and provided the following services: insurance-related services, including comprehensive risk management and third-party administration services for insurance entities and self-funded or fully-insured workers' compensation and liability plans; comprehensive medical utilization management services for both workers' compensation and all-lines liability insurance plans; and Medicare set-aside allocation services and related administrative services associated with the Medicare Secondary Payer statute. The insurance intermediary business is highly competitive, and numerous firms actively compete with the Company for customers and insurance markets.
Company Website
SEC Reports
Industry: Insurance Brokers
Compare:AON, WSH, MMC, ERIE, NFP
ยป More Articles for BRO

Headlines

Articles On GuruFocus.com
A Record Week for Dividend Increases Oct 28 2012 
Weekly Top CFO Buys: FCAL, BRO,BKMU, TUES, OILT Aug 01 2011 
comment on BRO Jul 29 2011 
Brown & Brown CFO Cory Walker Bought 20,000 Shares Jul 25 2011 
Thoughts on Brown & Brown: Stay Away! Jul 22 2011 
Stocks that Both Insurers Markel Corp and Fairfax Financial Own: Berkshire Hathaway, Wal-Mart, Johns Mar 23 2011 
Brown & Brown Inc. (BRO) Former Vice Chairman and COO Jim W Henderson sells 35,000 Shares Dec 27 2010 
GuruFocus Historical Low P/B Portfolio Gained 16.8% YTD, Thanks To These Stocks: LBAI, FDO, SJI, VLO Dec 24 2010 
Brown & Brown Inc. (BRO) Former Vice Chairman and COO Jim W Henderson sells 100,633 Shares Dec 06 2010 
Brown & Brown Inc. Reports Operating Results (10-Q) Nov 05 2010 

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