VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Becton, Dickinson and Company vs Brown & Brown, Inc.

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Becton, Dickinson and Company

BDX · New York Stock Exchange

Market cap (USD)$58.3B
Gross margin (TTM)45.4%
Operating margin (TTM)11.8%
Net margin (TTM)7.7%
SectorHealthcare
IndustryMedical - Instruments & Supplies
CountryUS
Data as of2025-12-31
Moat score
66/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Becton, Dickinson and Company's moat claims, evidence, and risks.

View BDX analysis

Brown & Brown, Inc.

BRO · New York Stock Exchange

Market cap (USD)$27.5B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
IndustryInsurance - Brokers
CountryUS
Data as of2026-01-09
Moat score
61/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Brown & Brown, Inc.'s moat claims, evidence, and risks.

View BRO analysis

Comparison highlights

  • Moat score gap: Becton, Dickinson and Company leads (66 / 100 vs 61 / 100 for Brown & Brown, Inc.).
  • Segment focus: Becton, Dickinson and Company has 5 segments (29.5% in Medical Essentials); Brown & Brown, Inc. has 2 segments (59% in Retail).
  • Primary market structure: Competitive vs Competitive. Pricing power: Weak vs Moderate.
  • Moat breadth: Becton, Dickinson and Company has 7 moat types across 3 domains; Brown & Brown, Inc. has 5 across 3.

Primary market context

Becton, Dickinson and Company

Medical Essentials

Market

Single-use medical consumables and specimen collection systems

Geography

Global

Customer

Healthcare providers and clinical labs

Role

Manufacturer

Revenue share

29.5%

Brown & Brown, Inc.

Retail

Market

Retail insurance brokerage and agency services (commercial P&C, employee benefits, personal lines) plus dealer F&I risk-mitigating products

Geography

Primarily United States; also selected international operations

Customer

Commercial (SMB to mid-market), public/quasi-public entities, professional and individual insured customers; auto/RV dealers for F&I

Role

Insurance intermediary (agent/broker) and risk solutions advisor

Revenue share

59%

Side-by-side metrics

Becton, Dickinson and Company
Brown & Brown, Inc.
Ticker / Exchange
BDX - New York Stock Exchange
BRO - New York Stock Exchange
Market cap (USD)
$58.3B
$27.5B
Gross margin (TTM)
45.4%
n/a
Operating margin (TTM)
11.8%
n/a
Net margin (TTM)
7.7%
n/a
Sector
Healthcare
Financials
Industry
Medical - Instruments & Supplies
Insurance - Brokers
HQ country
US
US
Primary segment
Medical Essentials
Retail
Market structure
Competitive
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Weak
Moderate
Moat score
66 / 100
61 / 100
Moat domains
Demand, Supply, Legal
Demand, Supply, Legal
Last update
2025-12-31
2026-01-09

Moat coverage

Shared moat types

No overlap yet.

Becton, Dickinson and Company strengths

Installed Base ConsumablesOperational ExcellenceCompliance AdvantageData Workflow LockinLong Term ContractsDesign In QualificationSwitching Costs General

Brown & Brown, Inc. strengths

Procurement InertiaBrand TrustScale Economies Unit CostContractual ExclusivityPreferential Input Access

Segment mix

Becton, Dickinson and Company segments

Full profile >

Medical Essentials

Competitive

29.5%

Connected Care

Oligopoly

20.9%

BioPharma Systems

Oligopoly

10.6%

Interventional

Competitive

23.9%

Life Sciences

Oligopoly

15.1%

Brown & Brown, Inc. segments

Full profile >

Retail

Competitive

59%

Specialty Distribution

Oligopoly

41%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

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Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.