What is Brown & Brown, Inc. worth?
With the base-case assumptions below, a discounted cash flow model on Brown & Brown, Inc.'s reported free cash flow gives $124.02 per share. The share price was $60.82 on September 25, 2026, 51% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 10.0% | 10.0% | $66.78 | +10% |
| Base | 15.0% | 9.0% | $124.02 | +104% |
| Bull | 20.0% | 8.0% | $230.61 | +279% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $167.36 | $180.88 | $197.39 | $218.04 | $244.58 |
| 8.0% | $134.81 | $143.57 | $153.93 | $166.35 | $181.54 |
| 9.0% | $111.12 | $117.11 | $124.02 | $132.09 | $141.62 |
| 10.0% | $93.16 | $97.42 | $102.25 | $107.77 | $114.13 |
| 11.0% | $79.10 | $82.23 | $85.72 | $89.64 | $94.10 |
Where the presets come from
Base: years 1 to 5 grow at Brown & Brown, Inc.'s revenue growth rate over the last 5 fiscal years (17.7% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions