Brown And Brown Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Brown And Brown Inc (BRO) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Brown And Brown Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 6,909M vs 358,538M combined for its competitors (1.9% combined share).
- Trending: Latest-quarter revenue run-rate is holding steady (-0.1% annualized vs trailing 12 months), vs holding steady (-0.3%) for its tracked peer group.
- Growth: Brown And Brown Inc generated 7.4% revenue growth year over year in Q3 2026, vs 0.4% for its competitors combined.
- Profitability: Its 13.9% net margin compares with 12.0% for the peer group.
- Scale: Brown And Brown Inc ranks #5 of 29 companies by market capitalization in the Insurance Brokerage industry, holding 6.4% of industry market cap.
- Peer revenue share: Brown And Brown Inc accounted for 1.9% of combined revenue among its tracked peer group, up from 1.8% a year earlier.
- Peer differentiation: Revenue per employee of $0.30M compares with $1.04M for the peer group (0.3x).
- Structure: Brown And Brown Inc operates in the following segments: Retail Segment, Specialty Distribution, Corporate and Unallocated.
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
BRO Sales vs. its Competitors, Q3 2026
Brown And Brown Inc reported revenue growth of 7.41 % year on year in Q3 2026, above its competitors' combined revenue growth of 0.40 %.
With a net margin of 13.91 %, Brown And Brown Inc achieved higher profitability than its competitors (12.01 %).
Brown And Brown Inc generated 1.89 % of the combined sales of its peer group, up from 1.77 % a year earlier.
API endpoints for this dataset
Brown And Brown Inc vs. its Competitors, Q3 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Brown And Brown Inc reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Brown And Brown Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Brown and Brown Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (9) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Brown And Brown Inc's competitor groups requires a Commercial License.
For context: the Insurance Brokerage industry grew revenue 10.5% year over year, combined, vs 7.4% for Brown And Brown Inc. Brown And Brown Inc's share of combined industry revenue moved from 4.46% to 4.34%, a loss of 0.12 percentage points.
Brown And Brown Inc's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Brown and Brown Inc | Yes | Yes | Yes | No |
| Competitors combined (51) | ||||
| High-Confidence Competitors (1) | ||||
| Similar-Size Competitors (9) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
BRO Stock Performance relative to its Competitors
BRO Stock Performance relative to High-Confidence Competitors
BRO Stock Performance relative to Similar-Size Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Safety Insurance Group Inc | 282.9% | Outperformed |
| 2 | Assurant Inc | 282.9% | Outperformed |
| 3 | Universal Insurance Holdings Inc | 282.9% | Outperformed |
| 4 | Travelers Companies inc | 282.9% | Outperformed |
| 5 | Kingstone Companies Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Brown And Brown Inc's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Brown And Brown Inc's Comment on Competition and Industry Peers
A number of insurance companies directly sell insurance, primarily to individuals, and do not pay commissions to third-party agents and brokers. In addition, the Internet continues to be a source for direct placement of personal lines business. While it is difficult to quantify the impact on our business from individuals purchasing insurance over the Internet, we believe this risk would generally be isolated to personal lines customers with single-line coverage, which represent a small portion of our overall Retail Segment.
Publicly Traded Peers of Brown and Brown Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Brown and Brown Inc |
23,674.20 | 6,909.00 |
 Progressive Corp |
132,770.71 | 91,735.00 |
 Travelers Companies inc |
83,258.90 | 48,921.00 |
 Arthur J Gallagher and Co |
71,457.58 | 27,382.50 |
 Aon Plc |
71,173.95 | 17,707.00 |
 Allstate Corp |
65,990.18 | 70,137.00 |
| SUBTOTAL | 929,777.99 | 985,685.64 |
Sign in to see all competitors of Brown and Brown Inc .
Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Brown and Brown Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Brown And Brown Inc's Competitors Named by the Company
Competitive relationships identified from Brown And Brown Inc reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| The Baldwin Insurance Group Inc | Company report | 85% |
| Arch Capital Group Ltd | Company report | 85% |
| Arthur J Gallagher and Co | Company report | 85% |
| Aon Plc | Company report | 85% |
| Kemper Corporation | Company report | 85% |
| Mercury General Corporation | Company report | 85% |
| Willis Towers Watson Plc | Company report | 85% |
| Erie Indemnity Company | Company report | 85% |
| Unico American Corporation | Company report | 85% |
| American Financial Group Inc | Company report | 85% |
| Berkshire Hathaway Inc | Company report | 85% |
| Primerica Inc | Company report | 85% |
| Fanhua Inc | Company report | 85% |
| Kingstone Companies Inc | Company report | 85% |
| Universal Insurance Holdings Inc | Company report | 85% |
| American International Group Inc | Company report | 85% |
| Travelers Companies inc | Company report | 85% |
| Rli Corp | Company report | 85% |
Company report basis, confidence, active dates and source counts for Brown And Brown Inc's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Brown And Brown Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Brown and Brown Inc | Retail Segment 56.70 % |
| Travelers Companies inc | Business Insurance 47.23 % |
| Arthur J Gallagher and Co | Brokerage 87.35 % |
| Aon Plc | Risk Capital 65.40 % |
| Allstate Corp | Allstate Protection 86.96 % |
| Metlife Inc | Group Benefits 33.54 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Sign in to see all peers for Brown and Brown Inc .
Brown And Brown Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Brown and Brown Inc | 23,674 | 301,861 | 53,565 |
| Progressive Corp | 132,771 | 1,834,700 | 232,440 |
| Travelers Companies inc | 83,259 | 1,438,853 | 244,618 |
| Arthur J Gallagher and Co | 71,458 | 380,313 | 21,874 |
| Aon Plc | 71,174 | 295,117 | 65,750 |
| Allstate Corp | 65,990 | 1,308,526 | 248,134 |
| PEERS TOTAL | 906,104 | 1,043,630 | 177,911 |
Sign in to see all peers for Brown and Brown Inc .
Brown And Brown Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Brown and Brown Inc | US 88.00 % |
| Arthur J Gallagher and Co | United States 70.72 % |
| Aon Plc | Europe, Middle East, and Africa, Other Than United Kingdom and Ireland 14.78 % |
| Ncr Atleos Corporation | United States 46.86 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Brown And Brown Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 28 companies in Brown And Brown Inc's industry classification, broader than the peer set above. Market cap in millions of $.Brown And Brown Inc ranks #5 of 28 companies by market capitalization in its industry, holding 6.39 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 1,583, indicating a moderately concentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Marsh and Mclennan Companies Inc | 98,877 | 26.38 % |
| 2 | Aon Plc | 71,475 | 19.07 % |
| 3 | Arthur J Gallagher and Co | 71,458 | 19.07 % |
| 4 | Willis Towers Watson Plc | 30,880 | 8.24 % |
| 5 | Brown and Brown Inc | 23,961 | 6.39 % |
| 6 | Equitable Holdings Inc | 1,234 | 5.2% |
| 7 | Erie Indemnity Company | 1,234 | 5.2% |
| 8 | Fidelity National Financial Inc | 1,234 | 5.2% |
| 9 | First American Financial Corporation | 1,234 | 5.2% |
| 10 | Ryan Specialty Holdings Inc | 1,234 | 5.2% |
Market cap and industry share for the rest of Brown And Brown Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-09.
Brown And Brown Inc's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 1 | Marsh and Mclennan Companies Inc | 98,877 | 16.17 % |
| 2 | Aon Plc | 71,475 | -1.72 % |
| 3 | Arthur J Gallagher and Co | 71,458 | 13.51 % |
| 4 | Willis Towers Watson Plc | 30,880 | 1.96 % |
| 5 | Brown and Brown Inc | 23,961 | -6.12 % |
| 6 | Equitable Holdings Inc | 1,234 | 12.3% |
| 7 | Erie Indemnity Company | 1,234 | 12.3% |
| 8 | Fidelity National Financial Inc | 1,234 | 12.3% |
| 9 | First American Financial Corporation | 1,234 | 12.3% |
| 10 | Ryan Specialty Holdings Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Brown And Brown Inc's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-09. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Brown And Brown Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Insurance Brokerage industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (37 companies). See the full Insurance Brokerage industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 0.00 % | 27.28 % (avg) | -27.3 pp |
| Operating Margin | - | industry median | - |
| EBITDA Margin | 33.01 % | 11.68 % (avg) | +21.3 pp |
| Capital Intensity (Capex / Revenue) | 1.40 % | 2.22 % (avg) | -0.8 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Brown And Brown Inc's Valuation vs Competitive Position
Valuation multiples vs the Insurance Brokerage industry average (37 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Insurance Brokerage industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 21.2x | 26.2x | -5.0x |
| EV / EBITDA | 13.0x | 10.7x | +2.2x |
| P/B | 1.8x | 2.4x | -0.6x |
| Return on Equity | 9.73 % | industry aggregate | -12.83 % |
| Return on Invested Capital | - | 10.16 % (avg) | - |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Brown And Brown Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 7.06 % | 18.76 % | 9.25 % | 16.76 % | 17.11 % | 19.13 % | 12.87 % | 22.83 % |
| Operating Margin | -94.07 % | 54.34 % | 54.41 % | 55.32 % | 58.48 % | 61.11 % | 57.96 % | 58.83 % |
| Return on Invested Capital | -26.46 % | 15.08 % | 17.38 % | 15.39 % | 15.73 % | 18.60 % | 17.51 % | 12.23 % |
| P/E | 29.1x | 28.1x | 27.3x | 31.8x | 24.5x | 23.4x | 30.9x | 25.4x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Brown And Brown Inc's BCG Growth-Share Matrix
See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.
Brown And Brown Inc falls in the Dog quadrant: relative market share of 0.24x vs its largest competitor, in an industry growing revenue 7.3% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Brown And Brown Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | Moderate | Industry HHI of 1,583 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 1.40 % vs industry average 2.22 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Brown And Brown Inc's dedicated Suppliers and Customers pages, not here.
Brown And Brown Inc's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Brown And Brown Inc falls in the Medium attractiveness / Medium strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Brown And Brown Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
No rule matched.
Weaknesses
- Return on equity 12.8 points below the industry aggregate.
- Underperforming the U.S.A. 500 over the trailing 12 months.
- Low relative market share vs the industry leader (0.24x).
Opportunities
No rule matched.
Threats
No rule matched.
Methodology: see Methodology: SWOT Analysis.
Brown And Brown Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Brown and Brown Inc | 0.14 | 1.38 | 0.63 |
| Progressive Corp | 0.06 | 1.06 | 0.24 |
| Travelers Companies inc | 0.01 | 1.08 | 0.29 |
| Arthur J Gallagher and Co | - | 1.14 | 0.56 |
| Aon Plc | 0.06 | 1.06 | 1.86 |
| Allstate Corp | 0.02 | 0.15 | 0.25 |
Sign in to see all peers for Brown and Brown Inc .
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Brown And Brown Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Brown and Brown Inc | Q3 2026 | +7.4 % | +4.8 % |
| Progressive Corp | Q3 2026 | +3.0 % | -2.8 % |
| Travelers Companies inc | Q3 2026 | -0.5 % | +1.5 % |
| Arthur J Gallagher and Co | Q2 2026 | -37.4 % | -11.5 % |
| Aon Plc | Q3 2026 | +2.6 % | +1.3 % |
| Allstate Corp | Q2 2026 | +11.8 % | +55.8 % |
| PEERS TOTAL | +4.6 % | +35.7 % |
Sign in to see all peers for Brown and Brown Inc .
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Brown And Brown Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Brown and Brown Inc | Q3 2026 | - | +143.8 % |
| Progressive Corp | Q3 2026 | +1,016.0 % | +75.8 % |
| Travelers Companies inc | Q3 2026 | +0.4 % | - |
| Arthur J Gallagher and Co | Q2 2026 | - | +29.4 % |
| Aon Plc | Q3 2026 | - | +36.2 % |
| Allstate Corp | Q2 2026 | +6.1 % | - |
Sign in to see all peers for Brown and Brown Inc .
Brown And Brown Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Brown and Brown Inc | 4.12% | 5.83% | 9.73% |
| Progressive Corp | 9.34% | 10.98% | 35.44% |
| Travelers Companies inc | 5.82% | 8.95% | 26.20% |
| Arthur J Gallagher and Co | 2.03% | 4.08% | 6.69% |
| Aon Plc | 7.15% | 9.96% | 40.15% |
| Allstate Corp | 10.88% | 16.50% | 43.12% |
Sign in to see all peers for Brown and Brown Inc .
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Brown And Brown Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Brown and Brown Inc | 22.14 | 3.43 |
| Progressive Corp | 11.48 | 1.45 |
| Travelers Companies inc | 10.41 | 1.70 |
| Arthur J Gallagher and Co | 46.40 | 2.61 |
| Aon Plc | 18.51 | 4.02 |
| Allstate Corp | 5.10 | 0.94 |
| PEERS AVERAGE | 5.53 | 0.94 |
Sign in to see all peers for Brown and Brown Inc .
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.