Brown & Brown, Inc.

AI-generated fair value estimate for this company.

Method: 10-year unlevered FCF DCF: $1,446M TTM free cash flow base; 8% annual FCF growth years 1-5; 5% growth years 6-10; 8.5% discount rate; 3% terminal growth; $7,148M net debt; 334.61M shares outstanding.

Reasoning: Brown & Brown is a stable, highly acquisitive insurance brokerage with recurring, asset-light cash flows, making a FCF-based DCF the most appropriate method; growth assumptions blend continued organic momentum and bolt-on M&A with realistic moderation, while the discount rate reflects its moderate post-acquisition leverage and low-beta insurance-services risk profile.