VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Saturday, January 10, 2026

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Stock Comparison

Brown & Brown, Inc. vs VINCI SA

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

VINCI SA

DG · Euronext Paris

Market cap (USD)$67.7B

Gross margin (TTM)16%

Operating margin (TTM)12.1%

Net margin (TTM)6.5%

SectorIndustrials

IndustryEngineering & Construction

CountryFR

Data as of2026-01-03

Moat score

57/ 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 VINCI SA's moat claims, evidence, and risks.

View DG analysis

Comparison highlights

Moat score gap: Brown & Brown, Inc. leads (61 / 100 vs 57 / 100 for VINCI SA).
Segment focus: Brown & Brown, Inc. has 2 segments (59% in Retail); VINCI SA has 7 segments (44.4% in VINCI Construction).
Primary market structure: Competitive vs Competitive. Pricing power: Moderate vs Weak.
Moat breadth: Brown & Brown, Inc. has 5 moat types across 3 domains; VINCI SA 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%

VINCI SA

VINCI Construction

Market

Construction and civil engineering contracting (buildings, infrastructure and specialty networks)

Geography

Global

Customer

Public-sector project owners and private developers/industrial clients

Role

General contractor / civil engineering contractor

Revenue share

44.4%

Side-by-side metrics

Brown & Brown, Inc.

VINCI SA

Ticker / Exchange

BRO - New York Stock Exchange

DG - Euronext Paris

Market cap (USD)

$27.5B

$67.7B

Gross margin (TTM)

n/a

16%

Operating margin (TTM)

n/a

12.1%

Net margin (TTM)

n/a

6.5%

Sector

Financials

Industrials

Industry

Insurance - Brokers

Engineering & Construction

HQ country

Primary segment

Retail

VINCI Construction

Market structure

Competitive

Market share

n/a

HHI estimate

n/a

Pricing power

Moderate

Weak

Moat score

61 / 100

57 / 100

Moat domains

Demand, Supply, Legal

Legal, Supply

Last update

2026-01-09

2026-01-03

Moat coverage

Shared moat types

No overlap yet.

Brown & Brown, Inc. strengths

Procurement InertiaBrand TrustScale Economies Unit CostContractual ExclusivityPreferential Input Access

VINCI SA strengths

Concession LicensePermits Rights Of WayOperational ExcellenceService Field NetworkCapex Knowhow ScaleCapacity MoatCompliance Advantage

Segment mix

Brown & Brown, Inc. segments

Full profile >

Retail

Competitive

59%

Specialty Distribution

Oligopoly

41%

VINCI SA segments

Full profile >

VINCI Autoroutes

Monopoly

9.2%

VINCI Airports

Oligopoly

6.3%

Other concessions (incl. VINCI Highways and PPP assets)

Competitive

0.8%

VINCI Energies

Competitive

28.4%

Cobra IS

Competitive

9.9%

VINCI Construction

Competitive

44.4%

VINCI Immobilier

Competitive

1.6%

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.

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.