VOL. XCIV, NO. 247
★ WIDE MOAT STOCKS COMPARISON ★
NO ADVICE
Saturday, January 10, 2026
Stock Comparison
Brown & Brown, Inc. vs Waters 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
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 analysisWaters Corporation
WAT · New York Stock Exchange
Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.
Full stock profile
Dive deeper into Waters Corporation's moat claims, evidence, and risks.
View WAT analysisComparison highlights
- Moat score gap: Waters Corporation leads (66 / 100 vs 61 / 100 for Brown & Brown, Inc.).
- Segment focus: Brown & Brown, Inc. has 2 segments (59% in Retail); Waters Corporation has 4 segments (34.9% in Waters instrument systems).
- Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Moderate.
- Moat breadth: Brown & Brown, Inc. has 5 moat types across 3 domains; Waters Corporation has 7 across 2.
Primary market context
Brown & Brown, Inc.
Retail
Retail insurance brokerage and agency services (commercial P&C, employee benefits, personal lines) plus dealer F&I risk-mitigating products
Primarily United States; also selected international operations
Commercial (SMB to mid-market), public/quasi-public entities, professional and individual insured customers; auto/RV dealers for F&I
Insurance intermediary (agent/broker) and risk solutions advisor
59%
Waters Corporation
Waters instrument systems
Liquid chromatography (LC/UPLC) and mass spectrometry (MS) analytical instrument systems (including LC-MS workflows and instrument control/data system software)
Global
Pharma/biotech, industrial, academic and government laboratories
OEM + software/platform provider
34.9%
Side-by-side metrics
Moat coverage
Shared moat types
Brown & Brown, Inc. strengths
Waters Corporation strengths
Segment mix
Brown & Brown, Inc. segments
Full profile >Retail
Competitive
Specialty Distribution
Oligopoly
Waters Corporation segments
Full profile >Waters instrument systems
Oligopoly
Chemistry consumables
Competitive
Waters service & software maintenance
Competitive
TA instrument systems & service
Oligopoly
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View expansion-stage stocksCuration & 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.