VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Brown & Brown, Inc. vs Gilead Sciences, 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

Gilead Sciences, Inc.

GILD · NASDAQ Global Select Market

Market cap (USD)$150.2B
Gross margin (TTM)78.7%
Operating margin (TTM)36.1%
Net margin (TTM)27.9%
SectorHealthcare
IndustryDrug Manufacturers - General
CountryUS
Data as of2025-12-30
Moat score
74/ 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 Gilead Sciences, Inc.'s moat claims, evidence, and risks.

View GILD analysis

Comparison highlights

  • Moat score gap: Gilead Sciences, Inc. leads (74 / 100 vs 61 / 100 for Brown & Brown, Inc.).
  • Segment focus: Brown & Brown, Inc. has 2 segments (59% in Retail); Gilead Sciences, Inc. has 5 segments (68.5% in HIV).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Brown & Brown, Inc. has 5 moat types across 3 domains; Gilead Sciences, Inc. has 8 across 3.

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%

Gilead Sciences, Inc.

HIV

Market

HIV treatment and prevention medicines (antiretroviral therapy and PrEP)

Geography

Global (U.S. and Europe are major markets)

Customer

Patients/prescribers; reimbursed by public and private payers; distributed via wholesalers and specialty pharmacies

Role

Drug developer and marketing authorization holder

Revenue share

68.5%

Side-by-side metrics

Brown & Brown, Inc.
Gilead Sciences, Inc.
Ticker / Exchange
BRO - New York Stock Exchange
GILD - NASDAQ Global Select Market
Market cap (USD)
$27.5B
$150.2B
Gross margin (TTM)
n/a
78.7%
Operating margin (TTM)
n/a
36.1%
Net margin (TTM)
n/a
27.9%
Sector
Financials
Healthcare
Industry
Insurance - Brokers
Drug Manufacturers - General
HQ country
US
US
Primary segment
Retail
HIV
Market structure
Competitive
Oligopoly
Market share
n/a
50%-60% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
61 / 100
74 / 100
Moat domains
Demand, Supply, Legal
Demand, Legal, Supply
Last update
2026-01-09
2025-12-30

Moat coverage

Shared moat types

Brand Trust

Brown & Brown, Inc. strengths

Procurement InertiaScale Economies Unit CostContractual ExclusivityPreferential Input Access

Gilead Sciences, Inc. strengths

Habit DefaultSwitching Costs GeneralIP Choke PointService Field NetworkCapex Knowhow ScaleCompliance AdvantageRegulated Standards Pipe

Segment mix

Brown & Brown, Inc. segments

Full profile >

Retail

Competitive

59%

Specialty Distribution

Oligopoly

41%

Gilead Sciences, Inc. segments

Full profile >

HIV

Oligopoly

68.5%

Oncology (Cell Therapy + Trodelvy)

Oligopoly

11.5%

Liver Disease

Oligopoly

10.6%

Veklury (Remdesivir)

Competitive

6.3%

Other Products

Competitive

3.1%

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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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.