BRO Brown & Brown margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 92

Gross margin

100%

Operating margin

28.3%

EBITDA margin

35.8%

Net margin

17.6%

For the latest period, Brown & Brown has a gross margin of 100%, an operating margin of 28.3%, an EBITDA margin of 35.8%, and a net margin of 17.6%. The biggest positive change was in EBITDA margin, increasing 2 percentage points. The biggest negative change was in net margin, decreasing 0.6 percentage points.

BRO margin history

Gross, operating, EBITDA and net margin trends

Brown & Brown's margins averaged 100% gross, 29.4% operating, 35.84% EBITDA, and 19.75% net during the last 3 years. Current figures show operating, EBITDA, and net margins are below their three-year averages.

BRO margin expansion

Year-over-year margin changes in percentage points

EBITDA margin expanded by 2 percentage points, but operating margin contracted by 0.3 percentage points and net margin by 0.6 percentage points.

Gross margin expansion

0pp

Operating margin expansion

-0.3pp

EBITDA margin expansion

2pp

Net margin expansion

-0.6pp

BRO Gross margin

Over the last 3 years, Brown & Brown's gross margin averaged 100%. At present, Brown & Brown's current gross margin is 100%, which is in line with its three-year average. During this period, gross margin reached a high of 100% in Sep 2026 and a low of 100% in Dec 2023.

BRO Operating margin

Over the last 3 years, Brown & Brown had an average operating margin of 29.4%. Against its three-year average, Brown & Brown's operating margin is currently 28.3%, 1.1 percentage points below its three-year average. Looking back over the last 3 years, Brown & Brown's operating margin reached 30.8% at its highest point in Mar 2025 and 28.3% at its lowest in Sep 2026.

BRO EBITDA margin

Looking back over the last 3 years, Brown & Brown recorded an average EBITDA margin of 35.84%. Brown & Brown's current EBITDA margin is 35.8% and is 0 percentage points below its three-year average. The highest EBITDA margin for Brown & Brown was 38.4% in Sep 2024, while the lowest was 33.8% in Sep 2025.

BRO Net margin

Brown & Brown recorded an average net margin of 19.75% across the last 3 years. The latest net margin for Brown & Brown is 17.6%, 2.2 percentage points below its three-year average. The highest net margin for Brown & Brown was 22.7% in Sep 2024, while the lowest was 17.6% in Sep 2026.

BRO margin group comparison

Margins compared with peer-group, industry and sector averages

Brown & Brown's gross margin of 100% is above the Financial Services sector, the industry and its peers average. Compared to its Financial Services sector average of 83.4%, Brown & Brown's gross margin is 20% higher.

BRO margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Brown & Brown's gross margin?

As of Sep 30, 2026, BRO has a gross margin of 100%.

What is Brown & Brown's operating margin?

For the period ending Sep 30, 2026, BRO recorded an operating margin of 28.3%.

What is Brown & Brown's EBITDA margin?

For the period ending Sep 30, 2026, BRO recorded an EBITDA margin of 35.8%.

What is Brown & Brown's net margin?

As of Sep 30, 2026, BRO has a net margin of 17.6%.

What are the average margins of BRO?

Looking back over 3 years, BRO recorded average margins of 100.0% gross, 29.4% operating, 35.8% EBITDA, and 19.8% net.

What are the highest historical margins of BRO?

Across the 5-year period, BRO posted its highest margins at 100% gross in Sep 2026, 30.8% operating in Mar 2025, 38.4% EBITDA in Sep 2024, and 22.7% net in Sep 2024.

What are the lowest historical margins of BRO?

Across the 5-year period, BRO posted its lowest margins at 100% gross in Dec 2021, 27% operating in Sep 2022, 32.1% EBITDA in Dec 2021, and 17.6% net in Sep 2026.