VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Brown & Brown, Inc. vs Vulcan Materials Company

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

Vulcan Materials Company

VMC · New York Stock Exchange

Market cap (USD)$41.2B
Gross margin (TTM)28.2%
Operating margin (TTM)20.9%
Net margin (TTM)14.3%
SectorMaterials
IndustryConstruction Materials
CountryUS
Data as of2026-01-01
Moat score
73/ 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 Vulcan Materials Company's moat claims, evidence, and risks.

View VMC analysis

Comparison highlights

  • Moat score gap: Vulcan Materials Company leads (73 / 100 vs 61 / 100 for Brown & Brown, Inc.).
  • Segment focus: Brown & Brown, Inc. has 2 segments (59% in Retail); Vulcan Materials Company has 3 segments (74.4% in Aggregates).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Brown & Brown, Inc. has 5 moat types across 3 domains; Vulcan Materials Company has 5 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%

Vulcan Materials Company

Aggregates

Market

Construction aggregates (crushed stone, sand & gravel)

Geography

United States (local/regional markets)

Customer

Construction contractors and public infrastructure agencies

Role

Upstream raw materials producer

Revenue share

74.4%

Side-by-side metrics

Brown & Brown, Inc.
Vulcan Materials Company
Ticker / Exchange
BRO - New York Stock Exchange
VMC - New York Stock Exchange
Market cap (USD)
$27.5B
$41.2B
Gross margin (TTM)
n/a
28.2%
Operating margin (TTM)
n/a
20.9%
Net margin (TTM)
n/a
14.3%
Sector
Financials
Materials
Industry
Insurance - Brokers
Construction Materials
HQ country
US
US
Primary segment
Retail
Aggregates
Market structure
Competitive
Oligopoly
Market share
n/a
8%-11% (implied)
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
61 / 100
73 / 100
Moat domains
Demand, Supply, Legal
Legal, Supply
Last update
2026-01-09
2026-01-01

Moat coverage

Shared moat types

Scale Economies Unit Cost

Brown & Brown, Inc. strengths

Procurement InertiaBrand TrustContractual ExclusivityPreferential Input Access

Vulcan Materials Company strengths

Permits Rights Of WayGeographic NaturalPhysical Network DensitySupply Chain Control

Segment mix

Brown & Brown, Inc. segments

Full profile >

Retail

Competitive

59%

Specialty Distribution

Oligopoly

41%

Vulcan Materials Company segments

Full profile >

Aggregates

Oligopoly

74.4%

Asphalt

Competitive

16.8%

Concrete

Competitive

8.8%

Want the full wide moat stocks list?

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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.