BRO vs ERIE
Brown & Brown, Inc. and Erie Indemnity Co., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | BRO | ERIE |
|---|---|---|
| Revenue | $5.9B | $4.1B |
| Net income | $1.1B | $559.3M |
| Gross margin | · | · |
| Net margin | 18.1% | 13.8% |
| Return on equity | 11.1% | 26.2% |
| Diluted EPS | $3.16 | · |
| Dividend / share | $0.62 | · |
| Payout ratio | 18.3% | 45.5% |
| Free cash flow | $1.4B | $571.0M |
| Equity | · | $2.3B |
| Net debt / equity | 0.52× | · |
| Current ratio | 1.04× | 1.27× |
| Revenue CAGR 5y | 17.7% | 9.9% |
| Profit CAGR 5y | 17.0% | 13.8% |
BRO bills 1.5× the revenue of ERIE, and keeps more of each dollar of revenue as profit (18.1% against 13.8%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | BRO | ERIE |
|---|---|---|
| FY2025 | $5.9B | $4.1B |
| FY2024 | $4.8B | $3.8B |
| FY2023 | $4.3B | $3.3B |
| FY2022 | $3.6B | $2.8B |
| FY2021 | $3.1B | $2.6B |
| FY2020 | $2.6B | $2.5B |
| FY2019 | $2.4B | $2.5B |
| FY2018 | $2.0B | $2.4B |
| FY2017 | $1.9B | $1.7B |
| FY2016 | $1.8B | $1.6B |
Bottom line
| Fiscal year | BRO | ERIE |
|---|---|---|
| FY2025 | $1.1B | $559.3M |
| FY2024 | $993.0M | $600.3M |
| FY2023 | $871.0M | $446.1M |
| FY2022 | $672.0M | $298.6M |
| FY2021 | $587.1M | $297.9M |
| FY2020 | $480.5M | $293.3M |
| FY2019 | $398.5M | $316.8M |
| FY2018 | $344.3M | $288.2M |
| FY2017 | $399.6M | $197.0M |
| FY2016 | $257.5M | $210.4M |
18 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$1,834,742,000 | BRO |
| FY2024 | +$1,009,885,000 | BRO |
| FY2023 | +$988,060,000 | BRO |
| FY2022 | +$732,876,000 | BRO |
| FY2021 | +$417,423,000 | BRO |
| FY2020 | +$76,911,000 | BRO |
| FY2019 | −$85,127,000 | ERIE |
| FY2018 | −$367,966,000 | ERIE |
| FY2017 | +$189,573,000 | BRO |
| FY2016 | +$169,998,000 | BRO |
| FY2015 | +$155,001,000 | BRO |
| FY2014 | +$168,677,000 | BRO |
| FY2013 | +$65,948,000 | BRO |
| FY2012 | −$4,311,968,000 | ERIE |
| FY2011 | −$3,810,458,000 | ERIE |
| FY2010 | −$3,916,508,000 | ERIE |
| FY2009 | −$3,287,123,000 | ERIE |
| FY2008 | −$1,673,446,000 | ERIE |
The higher-revenue side has changed between BRO and ERIE over this period. The gap has widened since the earliest year compared.
18 of 18 comparable fiscal years — a year missing data on either side is not counted.
18 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +4.3 pp | BRO |
| FY2024 | +5.0 pp | BRO |
| FY2023 | +6.8 pp | BRO |
| FY2022 | +8.3 pp | BRO |
| FY2021 | +7.9 pp | BRO |
| FY2020 | +6.8 pp | BRO |
| FY2019 | +3.9 pp | BRO |
| FY2018 | +5.0 pp | BRO |
| FY2017 | +9.6 pp | BRO |
| FY2016 | +1.4 pp | BRO |
| FY2015 | +3.1 pp | BRO |
| FY2014 | −27.6 pp | ERIE |
| FY2013 | −64.9 pp | ERIE |
| FY2012 | +4.1 pp | BRO |
| FY2011 | +10.6 pp | BRO |
| FY2010 | +3.1 pp | BRO |
| FY2009 | +5.4 pp | BRO |
| FY2008 | +40.2 pp | BRO |
The higher net margin has changed hands between BRO and ERIE over this period.
18 of 18 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
ERIE's net margin has been more volatile than BRO's over the 18 comparable fiscal years — 19.2 percentage points of standard deviation against 2.2.
18 of 18 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between BRO and ERIE over these 18 fiscal years — BRO led in 16 and ERIE in 2.
18 of 18 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
ERIE's return on equity has been more volatile than BRO's over the 16 comparable fiscal years — 4.0 percentage points of standard deviation against 2.3.
16 of 18 comparable fiscal years — a year missing data on either side is not counted.
Year by year
ERIE led in return on equity in every one of the 16 comparable fiscal years — a structural lead, not a recent swing.
16 of 18 comparable fiscal years — a year missing data on either side is not counted.