BRO vs RYAN
Brown & Brown, Inc. and Ryan Specialty Holdings, Inc., side by side — 7 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | BRO | RYAN |
|---|---|---|
| Revenue | $5.9B | $3.1B |
| Net income | $1.1B | $63.4M |
| Gross margin | · | · |
| Net margin | 18.1% | 7.0% |
| Return on equity | 11.1% | 9.9% |
| Diluted EPS | $3.16 | · |
| Dividend / share | $0.62 | · |
| Payout ratio | 18.3% | 98.3% |
| Free cash flow | $1.4B | $640.7M |
| Equity | · | $648.1M |
| Net debt / equity | 0.52× | 4.93× |
| Current ratio | 1.04× | 0.98× |
| Revenue CAGR 5y | 17.7% | 24.5% |
| Profit CAGR 5y | 17.0% | −1.4% |
BRO bills 1.9× the revenue of RYAN, and keeps more of each dollar of revenue as profit (18.1% against 7.0%).
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.
7 years side by side
| Fiscal year | BRO | RYAN |
|---|---|---|
| FY2025 | $5.9B | $3.1B |
| FY2024 | $4.8B | $2.5B |
| FY2023 | $4.3B | $2.1B |
| FY2022 | $3.6B | $1.7B |
| FY2021 | $3.1B | $1.4B |
| FY2020 | $2.6B | $1.0B |
| FY2019 | $2.4B | $765.1M |
Bottom line
| Fiscal year | BRO | RYAN |
|---|---|---|
| FY2025 | $1.1B | $63.4M |
| FY2024 | $993.0M | $94.7M |
| FY2023 | $871.0M | $61.0M |
| FY2022 | $672.0M | $61.1M |
| FY2021 | $587.1M | $65.9M |
| FY2020 | $480.5M | $68.1M |
| FY2019 | $398.5M | $64.2M |
7 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$2,850,874,000 | BRO |
| FY2024 | +$2,289,290,000 | BRO |
| FY2023 | +$2,179,451,000 | BRO |
| FY2022 | +$1,847,807,000 | BRO |
| FY2021 | +$1,618,629,000 | BRO |
| FY2020 | +$1,595,126,000 | BRO |
| FY2019 | +$1,627,060,000 | BRO |
BRO has reported the higher revenue in every one of these 7 fiscal years. The gap has widened since the earliest year compared.
7 of 18 comparable fiscal years — a year missing data on either side is not counted.
7 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +11.1 pp | BRO |
| FY2024 | +11.7 pp | BRO |
| FY2023 | +11.1 pp | BRO |
| FY2022 | +9.3 pp | BRO |
| FY2021 | +15.3 pp | BRO |
| FY2020 | +11.5 pp | BRO |
| FY2019 | +8.4 pp | BRO |
BRO has kept the higher net margin in every one of these 7 fiscal years.
7 of 18 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
RYAN's net margin has been more volatile than BRO's over the 7 comparable fiscal years — 1.8 percentage points of standard deviation against 1.3.
7 of 18 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 7 comparable fiscal years — a structural lead, not a recent swing.
7 of 18 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
BRO's return on equity has been more volatile than RYAN's over the 4 comparable fiscal years — 2.4 percentage points of standard deviation against 2.2.
4 of 18 comparable fiscal years — a year missing data on either side is not counted.
Year by year
BRO led in return on equity in every one of the 4 comparable fiscal years — a structural lead, not a recent swing.
4 of 18 comparable fiscal years — a year missing data on either side is not counted.