BROWN & BROWN, INC. vs RYAN SPECIALTY HOLDINGS, INC., two Insurance Brokers stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Brown & Brown is a retail broker; Ryan Specialty works the wholesale specialty side, and the two sit at $21.7B and $4.3B. Margins tell most of the story: Brown books 17.96% net against Ryan's 3.44%, though Ryan's thin margin still yields a 14.43% free-cash return, more than double Brown's 6.59%. Ryan runs far more debt, 2.93 times equity to Brown's 0.72. Returns on equity are closer, 9.11% for Brown and 8.92% for Ryan. Brown trades at 20.93 times earnings, while Ryan carries no clean multiple here, leaving its 3.51 times book to price it against Brown's 1.72. Two takes on distribution, one leveraged, one not.
Comparison updated 2026-07-11.
| Metric | BRO | RYAN |
|---|---|---|
| Price | $67.63 | $40.41 |
| Market cap | $22.8B | $4.4B |
| Sector | Financial Services | Financial Services |
| Stage | Growth | Growth |
| P/E | 22.0 | — |
| P/B | 1.81 | 3.64 |
| P/S | 3.56 | 1.41 |
| EV/EBITDA | 505.7 | 15.6 |
| Revenue growth | +28.9% | +19.1% |
| Operating margin | — | 11.9% |
| Net margin | 18.0% | 3.4% |
| Return on equity | 9.1% | 8.9% |
| Return on assets | 3.9% | 1.0% |
| Dividend yield | 0.9% | — |
| Debt / equity | 0.72 | 2.93 |
| Current ratio | 1.02 | 1.02 |
| Piotroski F (quality) | 6 / 9 | 5 / 9 |
Each week boothcheck ranks the stocks whose prices are betting on the most. Read the most stretched bets archive →
boothcheck is also on Android. Get the app on Google Play →
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.