VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Brown & Brown, Inc. vs Halma plc

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

Halma plc

HLMA · London Stock Exchange

Market cap (USD)$13.8B
Gross margin (TTM)29.3%
Operating margin (TTM)15%
Net margin (TTM)13.9%
SectorTechnology
IndustryConglomerates
CountryGB
Data as of2026-01-02
Moat score
59/ 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 Halma plc's moat claims, evidence, and risks.

View HLMA analysis

Comparison highlights

  • Moat score gap: Brown & Brown, Inc. leads (61 / 100 vs 59 / 100 for Halma plc).
  • Segment focus: Brown & Brown, Inc. has 2 segments (59% in Retail); Halma plc has 3 segments (40% in Safety).
  • Moat breadth: Brown & Brown, Inc. has 5 moat types across 3 domains; Halma plc has 4 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%

Halma plc

Safety

Market

Safety technologies (fire safety, public safety, worker safety, and protection of critical assets/infrastructure)

Geography

Global

Customer

Commercial/industrial facility owners and operators; infrastructure operators; installers and OEM channels

Role

Technology OEM / component + systems supplier

Revenue share

40%

Side-by-side metrics

Brown & Brown, Inc.
Halma plc
Ticker / Exchange
BRO - New York Stock Exchange
HLMA - London Stock Exchange
Market cap (USD)
$27.5B
$13.8B
Gross margin (TTM)
n/a
29.3%
Operating margin (TTM)
n/a
15%
Net margin (TTM)
n/a
13.9%
Sector
Financials
Technology
Industry
Insurance - Brokers
Conglomerates
HQ country
US
GB
Primary segment
Retail
Safety
Market structure
Competitive
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
61 / 100
59 / 100
Moat domains
Demand, Supply, Legal
Legal, Demand
Last update
2026-01-09
2026-01-02

Moat coverage

Shared moat types

Procurement Inertia

Brown & Brown, Inc. strengths

Brand TrustScale Economies Unit CostContractual ExclusivityPreferential Input Access

Halma plc strengths

Compliance AdvantageDesign In QualificationSwitching Costs General

Segment mix

Brown & Brown, Inc. segments

Full profile >

Retail

Competitive

59%

Specialty Distribution

Oligopoly

41%

Halma plc segments

Full profile >

Safety

Competitive

40%

Environmental & Analysis

Competitive

35%

Healthcare

Competitive

25%

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.