Brown & Brown (BRO) Operating Expenses (2009 - 2026)
Brown & Brown's (BRO) quarterly Operating Expenses came in at $1.4 billion in Q1 2026, up 40.02% year-on-year from $977.0 million in Q1 2025, and up 6.38% on a QoQ basis from $1.3 billion in Q4 2025.
Brown & Brown (BRO) Operating Expenses (2009 - 2026) Analysis & Trends
Brown & Brown (BRO) has 18 years of Operating Expenses data on file, last reported at $1.4 billion in Q1 2026.
- On a quarterly basis, Operating Expenses rose 40.02% year-over-year to $1.4 billion in Q1 2026; TTM through Mar 2026 was $4.9 billion, a 37.28% increase from a year earlier, with the FY2025 full-year figure at $4.5 billion, up 29.38% from the prior year.
- Operating Expenses for Q1 2026 stood at $1.4 billion, up from $1.3 billion in the prior quarter.
- Over the last five years, Operating Expenses for BRO reached as high as $1.4 billion in Q1 2026 and fell as low as $639.7 million in Q1 2022.
- Historically, Operating Expenses has averaged $894.8 million across 5 years, with a median of $832.0 million in 2024.
- Across the five-year window, Operating Expenses decreased 5.07% in 2023 and soared 49.02% in 2025, its largest moves.
- Year by year, Operating Expenses stood at $706.8 million in 2022, then declined by 5.07% to $671.0 million in 2023, then jumped by 35.32% to $908.0 million in 2024, then soared by 41.63% to $1.3 billion in 2025, then rose by 6.38% to $1.4 billion in 2026.
- Per Business Quant data, the three most recent Operating Expenses figures were $1.4 billion in Q1 2026, $1.3 billion in Q4 2025, and $1.3 billion in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Marsh & Mclennan Companies | 84.27 Bn | 72.32 Bn | 6.04 Bn | 5.51 Bn |
| 2 | Aon | 75.99 Bn | 74.60 Bn | - | 3.32 Bn |
| 3 | Arthur J. Gallagher | 62.23 Bn | 60.85 Bn | - | 643.00 Mn |
| 4 | Willis Towers Watson | 27.24 Bn | 25.46 Bn | 1.98 Bn | 1.96 Bn |
| 5 | Brown & Brown | 23.60 Bn | 22.62 Bn | 1.61 Bn | 1.37 Bn |
| 6 | Neptune Insurance Holdings | 4.12 Bn | 4.11 Bn | 26.44 Mn | 24.35 Mn |
| 7 | Accelerant Holdings | 3.06 Bn | 1.55 Bn | 48.00 Mn | 271.30 Mn |
| 8 | Corvel | 3.03 Bn | 2.68 Bn | 54.92 Mn | 22.68 Mn |
| 9 | Baldwin Insurance | 2.43 Bn | 2.87 Bn | - | 633.50 Mn |
| 10 | Goosehead Insurance | 1.31 Bn | 1.20 Bn | - | 86.80 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 1.37 Bn |
| Dec 31, 2025 | 1.29 Bn |
| Sep 30, 2025 | 1.30 Bn |
| Jun 30, 2025 | 974.00 Mn |
| Mar 31, 2025 | 977.00 Mn |
| Dec 31, 2024 | 908.00 Mn |
| Sep 30, 2024 | 869.00 Mn |
| Jun 30, 2024 | 832.00 Mn |
| Mar 31, 2024 | 894.00 Mn |
| Dec 31, 2023 | 671.00 Mn |
| Sep 30, 2023 | 826.00 Mn |
| Jun 30, 2023 | 793.00 Mn |
| Mar 31, 2023 | 822.00 Mn |
| Dec 31, 2022 | 706.80 Mn |
| Sep 30, 2022 | 709.60 Mn |
| Jun 30, 2022 | 640.90 Mn |
| Mar 31, 2022 | 639.70 Mn |
| Dec 31, 2021 | 597.70 Mn |
| Sep 30, 2021 | 573.80 Mn |
| Jun 30, 2021 | 541.00 Mn |