BRO vs MRSH
Brown & Brown, Inc. and Marsh & Mclennan Companies, Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | BRO | MRSH |
|---|---|---|
| Revenue | $5.9B | $27.0B |
| Net income | $1.1B | $4.2B |
| Gross margin | · | · |
| Net margin | 18.1% | 15.7% |
| Return on equity | 11.1% | 28.8% |
| Diluted EPS | $3.16 | $8.43 |
| Dividend / share | $0.62 | $3.43 |
| Payout ratio | 18.3% | 40.8% |
| Free cash flow | $1.4B | $5.0B |
| Equity | · | · |
| Net debt / equity | 0.52× | 1.10× |
| Current ratio | 1.04× | 1.10× |
| Revenue CAGR 5y | 17.7% | 9.4% |
| Profit CAGR 5y | 17.0% | 15.6% |
MRSH bills 4.6× the revenue of BRO, and BRO keeps more of each dollar of revenue as profit (18.1% against 15.7%).
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 | MRSH |
|---|---|---|
| FY2025 | $5.9B | $27.0B |
| FY2024 | $4.8B | $24.5B |
| FY2023 | $4.3B | $22.7B |
| FY2022 | $3.6B | $20.7B |
| FY2021 | $3.1B | $19.8B |
| FY2020 | $2.6B | $17.2B |
| FY2019 | $2.4B | $16.7B |
| FY2018 | $2.0B | $14.9B |
| FY2017 | $1.9B | $14.0B |
| FY2016 | $1.8B | $13.2B |
Bottom line
| Fiscal year | BRO | MRSH |
|---|---|---|
| FY2025 | $1.1B | $4.2B |
| FY2024 | $993.0M | $4.1B |
| FY2023 | $871.0M | $3.8B |
| FY2022 | $672.0M | $3.0B |
| FY2021 | $587.1M | $3.1B |
| FY2020 | $480.5M | $2.0B |
| FY2019 | $398.5M | $1.7B |
| FY2018 | $344.3M | $1.6B |
| FY2017 | $399.6M | $1.5B |
| FY2016 | $257.5M | $1.8B |
18 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$21,079,000,000 | MRSH |
| FY2024 | −$19,653,000,000 | MRSH |
| FY2023 | −$18,479,000,000 | MRSH |
| FY2022 | −$17,147,000,000 | MRSH |
| FY2021 | −$16,768,600,000 | MRSH |
| FY2020 | −$14,610,600,000 | MRSH |
| FY2019 | −$14,259,829,000 | MRSH |
| FY2018 | −$12,935,754,000 | MRSH |
| FY2017 | −$12,142,653,000 | MRSH |
| FY2016 | −$11,444,371,000 | MRSH |
| FY2015 | −$11,232,491,000 | MRSH |
| FY2014 | −$11,375,204,000 | MRSH |
| FY2013 | −$10,897,721,000 | MRSH |
| FY2012 | −$10,723,968,000 | MRSH |
| FY2011 | −$10,512,458,000 | MRSH |
| FY2010 | −$9,576,508,000 | MRSH |
| FY2009 | −$8,863,123,000 | MRSH |
| FY2008 | −$9,752,446,000 | MRSH |
MRSH has reported the higher revenue in every one of these 18 fiscal years. The gap has widened since the earliest year compared.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.
18 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +2.4 pp | BRO |
| FY2024 | +4.0 pp | BRO |
| FY2023 | +3.7 pp | BRO |
| FY2022 | +3.9 pp | BRO |
| FY2021 | +3.2 pp | BRO |
| FY2020 | +6.5 pp | BRO |
| FY2019 | +6.0 pp | BRO |
| FY2018 | +5.9 pp | BRO |
| FY2017 | +10.5 pp | BRO |
| FY2016 | +1.0 pp | BRO |
| FY2015 | +2.0 pp | BRO |
| FY2014 | +1.6 pp | BRO |
| FY2013 | +4.6 pp | BRO |
| FY2012 | +5.3 pp | BRO |
| FY2011 | +7.4 pp | BRO |
| FY2010 | +8.4 pp | BRO |
| FY2009 | +13.4 pp | BRO |
| FY2008 | +17.6 pp | BRO |
BRO has kept the higher net margin in every one of these 18 fiscal years.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
MRSH's net margin has been more volatile than BRO's over the 18 comparable fiscal years — 4.5 percentage points of standard deviation against 2.2.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
BRO led in net margin in every one of the 18 comparable fiscal years — a structural lead, not a recent swing.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
MRSH's return on equity has been more volatile than BRO's over the 18 comparable fiscal years — 8.7 percentage points of standard deviation against 2.2.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between BRO and MRSH over these 18 fiscal years — BRO led in 2 and MRSH in 16.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.