VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Brown & Brown, Inc. vs Casey's General Stores, Inc.

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

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

Casey's General Stores, Inc.

CASY · NASDAQ

Market cap (USD)$22B
Gross margin (TTM)23.4%
Operating margin (TTM)5.3%
Net margin (TTM)3.6%
SectorConsumer
IndustrySpecialty Retail
CountryUS
Data as of2026-01-06
Moat score
54/ 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 Casey's General Stores, Inc.'s moat claims, evidence, and risks.

View CASY analysis

Comparison highlights

  • Moat score gap: Brown & Brown, Inc. leads (61 / 100 vs 54 / 100 for Casey's General Stores, Inc.).
  • Segment focus: Brown & Brown, Inc. has 2 segments (59% in Retail); Casey's General Stores, Inc. has 4 segments (61.3% in Fuel).
  • Primary market structure: Competitive vs Competitive. Pricing power: Moderate vs Weak.
  • Moat breadth: Brown & Brown, Inc. has 5 moat types across 3 domains; Casey's General Stores, Inc. has 7 across 2.

Primary market context

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%

Casey's General Stores, Inc.

Fuel

Market

Retail motor fuel sold through convenience-store fuel sites (gasoline and diesel)

Geography

United States (Casey's operating footprint; Midwest/South)

Customer

Motorists / consumers (in-store and pay-at-the-pump transactions)

Role

Fuel retailer (with some self-distribution/wholesale capabilities)

Revenue share

61.3%

Side-by-side metrics

Brown & Brown, Inc.
Casey's General Stores, Inc.
Ticker / Exchange
BRO - New York Stock Exchange
CASY - NASDAQ
Market cap (USD)
$27.5B
$22B
Gross margin (TTM)
n/a
23.4%
Operating margin (TTM)
n/a
5.3%
Net margin (TTM)
n/a
3.6%
Sector
Financials
Consumer
Industry
Insurance - Brokers
Specialty Retail
HQ country
US
US
Primary segment
Retail
Fuel
Market structure
Competitive
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Weak
Moat score
61 / 100
54 / 100
Moat domains
Demand, Supply, Legal
Demand, Supply
Last update
2026-01-09
2026-01-06

Moat coverage

Shared moat types

Brand Trust

Brown & Brown, Inc. strengths

Procurement InertiaScale Economies Unit CostContractual ExclusivityPreferential Input Access

Casey's General Stores, Inc. strengths

Operational ExcellencePhysical Network DensityDistribution ControlHabit DefaultSupply Chain ControlScope Economies

Segment mix

Brown & Brown, Inc. segments

Full profile >

Retail

Competitive

59%

Specialty Distribution

Oligopoly

41%

Casey's General Stores, Inc. segments

Full profile >

Prepared Food and Dispensed Beverage

Competitive

10.1%

Grocery and General Merchandise

Competitive

26%

Fuel

Competitive

61.3%

Other (wholesale fuel, car wash, lottery)

Competitive

2.6%

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.