BROWN & BROWN, INC. vs Marsh & McLennan Companies, Inc., two Insurance Brokers stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Brown & Brown and Marsh & McLennan both broker coverage, and they land at nearly identical earnings multiples, 20.93 and 21.11 times. The likeness ends there. Marsh earns a 26.51% return on equity to Brown's 9.11%, while Brown runs the higher net margin, 17.96% against 14.26%. Brown generates a touch more free cash relative to price, 6.59% versus 6%, and trades far cheaper on book, 1.72 times against 5.54. Debt is lighter at Brown too, 0.72 to 1.44. Marsh pays the larger dividend, 2.03% against 0.96%, and dwarfs Brown in size, $82.1B to $21.7B. Same multiple, very different returns and balance sheets underneath it.
Comparison updated 2026-07-11.
| Metric | BRO | MRSH |
|---|---|---|
| Price | $67.63 | $178.25 |
| Market cap | $22.8B | $86.6B |
| Sector | Financial Services | Financial Services |
| Stage | Growth | Mature |
| P/E | 22.0 | 22.3 |
| P/B | 1.81 | 5.85 |
| P/S | 3.56 | 3.15 |
| EV/EBITDA | 505.7 | 16.8 |
| Revenue growth | +28.9% | +10.0% |
| Operating margin | — | 23.1% |
| Net margin | 18.0% | 14.3% |
| Return on equity | 9.1% | 26.5% |
| Return on assets | 3.9% | 6.7% |
| Dividend yield | 0.9% | 1.9% |
| Debt / equity | 0.72 | 1.44 |
| Current ratio | 1.02 | 1.11 |
| Piotroski F (quality) | 6 / 9 | 5 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.