VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Brown & Brown, Inc. vs Alphabet 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

Alphabet Inc.

GOOGL · The Nasdaq Stock Market

Market cap (USD)$4T
Gross margin (TTM)59.2%
Operating margin (TTM)32.2%
Net margin (TTM)32.2%
SectorCommunication Services
IndustryInternet Content & Information
CountryUS
Data as of2025-12-21
Moat score
86/ 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 Alphabet Inc.'s moat claims, evidence, and risks.

View GOOGL analysis

Comparison highlights

  • Moat score gap: Alphabet Inc. leads (86 / 100 vs 61 / 100 for Brown & Brown, Inc.).
  • Segment focus: Brown & Brown, Inc. has 2 segments (59% in Retail); Alphabet Inc. has 6 segments (56.6% in Google Search & other (Advertising)).
  • Primary market structure: Competitive vs Quasi-Monopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Brown & Brown, Inc. has 5 moat types across 3 domains; Alphabet Inc. has 10 across 4.

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%

Alphabet Inc.

Google Search & other (Advertising)

Market

Search advertising (intent-based digital ads)

Geography

Global

Customer

Advertisers (SMB to enterprise)

Role

Ad platform / publisher

Revenue share

56.6%

Side-by-side metrics

Brown & Brown, Inc.
Alphabet Inc.
Ticker / Exchange
BRO - New York Stock Exchange
GOOGL - The Nasdaq Stock Market
Market cap (USD)
$27.5B
$4T
Gross margin (TTM)
n/a
59.2%
Operating margin (TTM)
n/a
32.2%
Net margin (TTM)
n/a
32.2%
Sector
Financials
Communication Services
Industry
Insurance - Brokers
Internet Content & Information
HQ country
US
US
Primary segment
Retail
Google Search & other (Advertising)
Market structure
Competitive
Quasi-Monopoly
Market share
n/a
88%-91% (reported)
HHI estimate
n/a
8,115
Pricing power
Moderate
Strong
Moat score
61 / 100
86 / 100
Moat domains
Demand, Supply, Legal
Network, Demand, Legal, Supply
Last update
2026-01-09
2025-12-21

Moat coverage

Shared moat types

No overlap yet.

Brown & Brown, Inc. strengths

Procurement InertiaBrand TrustScale Economies Unit CostContractual ExclusivityPreferential Input Access

Alphabet Inc. strengths

Data Network EffectsHabit DefaultTwo Sided NetworkContent Rights CurrencyOperational ExcellenceDefault OS GatewaySwitching Costs GeneralCapex Knowhow ScaleEcosystem ComplementsIncubation & patient capital

Segment mix

Brown & Brown, Inc. segments

Full profile >

Retail

Competitive

59%

Specialty Distribution

Oligopoly

41%

Alphabet Inc. segments

Full profile >

Google Search & other (Advertising)

Quasi-Monopoly

56.6%

YouTube (Advertising)

Oligopoly

10.3%

Google Network (Advertising)

Competitive

8.7%

Google Subscriptions, Platforms & Devices

Quasi-Monopoly

11.5%

Google Cloud

Oligopoly

12.4%

Other Bets

Competitive

0.5%

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.