VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

BE Semiconductor Industries N.V. vs Brown & Brown, Inc.

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

BE Semiconductor Industries N.V.

BESI · Euronext Amsterdam

Market cap (USD)$12B
Gross margin (TTM)61.7%
Operating margin (TTM)29%
Net margin (TTM)25.6%
SectorTechnology
IndustrySemiconductors
CountryNL
Data as of2025-12-28
Moat score
75/ 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 BE Semiconductor Industries N.V.'s moat claims, evidence, and risks.

View BESI 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: BE Semiconductor Industries N.V. leads (75 / 100 vs 61 / 100 for Brown & Brown, Inc.).
  • Segment focus: BE Semiconductor Industries N.V. has 2 segments (81% in Die Attach (incl. advanced die placement & hybrid bonding)); Brown & Brown, Inc. has 2 segments (59% in Retail).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Strong vs Moderate.
  • Moat breadth: BE Semiconductor Industries N.V. has 5 moat types across 2 domains; Brown & Brown, Inc. has 5 across 3.

Primary market context

BE Semiconductor Industries N.V.

Die Attach (incl. advanced die placement & hybrid bonding)

Market

Semiconductor assembly equipment - die attach & advanced die placement/hybrid bonding systems

Geography

Global

Customer

Semiconductor IDMs, foundries, and OSATs

Role

Capital equipment OEM (back-end/advanced packaging)

Revenue share

81%

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

BE Semiconductor Industries N.V.
Brown & Brown, Inc.
Ticker / Exchange
BESI - Euronext Amsterdam
BRO - New York Stock Exchange
Market cap (USD)
$12B
$27.5B
Gross margin (TTM)
61.7%
n/a
Operating margin (TTM)
29%
n/a
Net margin (TTM)
25.6%
n/a
Sector
Technology
Financials
Industry
Semiconductors
Insurance - Brokers
HQ country
NL
US
Primary segment
Die Attach (incl. advanced die placement & hybrid bonding)
Retail
Market structure
Oligopoly
Competitive
Market share
42%-44% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
75 / 100
61 / 100
Moat domains
Supply, Demand
Demand, Supply, Legal
Last update
2025-12-28
2026-01-09

Moat coverage

Shared moat types

No overlap yet.

BE Semiconductor Industries N.V. strengths

Capex Knowhow ScaleDesign In QualificationSwitching Costs GeneralInstalled Base ConsumablesService Field Network

Brown & Brown, Inc. strengths

Procurement InertiaBrand TrustScale Economies Unit CostContractual ExclusivityPreferential Input Access

Segment mix

BE Semiconductor Industries N.V. segments

Full profile >

Die Attach (incl. advanced die placement & hybrid bonding)

Oligopoly

81%

Packaging & Plating

Competitive

19%

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.

View the moat stocks list

Looking for expansion-stage stocks?

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

View expansion-stage stocks

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.