Brown & Brown (BRO) Q3 2025 10-Q Quarterly Report
Brown & Brown (BRO) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Oct 28, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
Brown & Brown Q3 2025 10-Q Analysis
Management Discussion & Analysis
- • Section 'mda' was empty or not found.
Risk Factors
- • Newly added transaction risk: integration complexities and delayed realization of Accession’s deferred tax asset benefits post-acquisition
- • Most materially updated financial risk: total debt increased to $7,728M as of Sept 30, 2025, raising interest expense and limiting business flexibility
- • Regulatory and legal risk: ongoing litigation against Accession’s subsidiary regarding 2024 captive insurance restructuring, with potential material adverse effects
- • Operational risk: underwriting exposure from Accession’s ownership in captive insurance cells, risks of claims exceeding reinsurance coverage
- • Compliance risk: potential IRS challenge to Accession’s advisory services on Section 831(b) captive insurance companies, risking disallowance or penalties
Brown & Brown Q3 2025 Quarterly FinancialsXBRL
Revenue
$1.6B
▲ +35.3% YoY▲ +25.0% QoQ
Net Income
$227M
▼ -2.6% YoY▼ -2.2% QoQ
Net Margin
14.1%
▼ -549bp YoY▼ -392bp QoQ
ROE
1.8%
Total Assets
$29.4B
EPS (Diluted)
$0.64
▼ -21.0% YoY▼ -17.9% QoQ
Operating Cash Flow
$468M
▲ +6.4% YoY▲ +44.0% QoQ
Source: XBRL data from Brown & Brown Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.
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