VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Brown & Brown, Inc. vs IDEX Corporation

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

IDEX Corporation

IEX · New York Stock Exchange

Market cap (USD)$13.9B
Gross margin (TTM)43.5%
Operating margin (TTM)20.7%
Net margin (TTM)14%
SectorIndustrials
IndustryIndustrial - Machinery
CountryUS
Data as of2025-12-23
Moat score
58/ 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 IDEX Corporation's moat claims, evidence, and risks.

View IEX analysis

Comparison highlights

  • Moat score gap: Brown & Brown, Inc. leads (61 / 100 vs 58 / 100 for IDEX Corporation).
  • Segment focus: Brown & Brown, Inc. has 2 segments (59% in Retail); IDEX Corporation has 3 segments (39.6% in Health & Science Technologies (HST)).
  • Moat breadth: Brown & Brown, Inc. has 5 moat types across 3 domains; IDEX Corporation has 7 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%

IDEX Corporation

Health & Science Technologies (HST)

Market

Precision fluidics, optics/photonics, microfluidics, sealing solutions, pneumatic components, and process technologies for life science/diagnostics, semiconductor, aerospace/defense, and industrial markets

Geography

Global

Customer

Life science & diagnostic instrument OEMs, semiconductor/industrial OEMs, specialty industrial customers

Role

Component/subsystem supplier and specialty equipment provider

Revenue share

39.6%

Side-by-side metrics

Brown & Brown, Inc.
IDEX Corporation
Ticker / Exchange
BRO - New York Stock Exchange
IEX - New York Stock Exchange
Market cap (USD)
$27.5B
$13.9B
Gross margin (TTM)
n/a
43.5%
Operating margin (TTM)
n/a
20.7%
Net margin (TTM)
n/a
14%
Sector
Financials
Industrials
Industry
Insurance - Brokers
Industrial - Machinery
HQ country
US
US
Primary segment
Retail
Health & Science Technologies (HST)
Market structure
Competitive
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
61 / 100
58 / 100
Moat domains
Demand, Supply, Legal
Demand, Supply, Legal
Last update
2026-01-09
2025-12-23

Moat coverage

Shared moat types

Procurement InertiaBrand Trust

Brown & Brown, Inc. strengths

Scale Economies Unit CostContractual ExclusivityPreferential Input Access

IDEX Corporation strengths

Design In QualificationData Workflow LockinInstalled Base ConsumablesLearning Curve YieldIP Choke Point

Segment mix

Brown & Brown, Inc. segments

Full profile >

Retail

Competitive

59%

Specialty Distribution

Oligopoly

41%

IDEX Corporation segments

Full profile >

Fluid & Metering Technologies (FMT)

Competitive

37.7%

Health & Science Technologies (HST)

Competitive

39.6%

Fire & Safety/Diversified Products (FSDP)

Competitive

22.7%

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.