Brown & Brown said it generated 2024 operating cash flow of $1.2 billion, up 16% from 2023, and that balance sheet cash was $675 million as of December 31, 2024.

1. 01

   Brown & Brown said it generated 2024 operating cash flow of $1.2 billion, up 16% from 2023, and that balance sheet cash was $675 million as of December 31, 2024.

2. 02

   The company presented Retail revenue growth of 8.8% and Organic Revenue growth of 5.8% for 2024, Programs growth of 19.4% and 22.4%, and Wholesale Brokerage growth of 13.9% and 9.1%. EBITDAC Margin - Adjusted was 30.0%, 47.1% and 32.8%, respectively.

3. 03

   Brown & Brown said it deployed $8.9 of total cash over the last 10 years, comprising $6.1 for acquisitions, $1.0 for dividends, $0.7 for share repurchases and $0.5 for capital expenditures (in billions). It said total cash generated was $7.1 (in billions).

4. 04

   The company said it targets net debt outstanding to EBITDAC of 0 to 2.5 times and total debt outstanding to EBITDAC of 0 to 3.0 times. It said $550 million was available under its revolving credit facility of up to $800 million as of December 31, 2024. Its financial covenants cap the net debt ratio at 3.5 times.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the opening part of the filing body and confirmed exhibits, within a length limit. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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