BRO vs WTW
Brown & Brown, Inc. and Willis Towers Watson PLC, side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | BRO | WTW |
|---|---|---|
| Revenue | $5.9B | $9.7B |
| Net income | $1.1B | $1.6B |
| Gross margin | · | · |
| Net margin | 18.1% | 16.6% |
| Return on equity | 11.1% | 20.2% |
| Diluted EPS | $3.16 | $16.26 |
| Dividend / share | $0.62 | $3.68 |
| Payout ratio | 18.3% | 22.3% |
| Free cash flow | $1.4B | $1.5B |
| Equity | · | $8.0B |
| Net debt / equity | 0.52× | 0.40× |
| Current ratio | 1.04× | 1.20× |
| Revenue CAGR 5y | 17.7% | 2.4% |
| Profit CAGR 5y | 17.0% | 10.0% |
WTW bills 1.6× the revenue of BRO, and BRO keeps more of each dollar of revenue as profit (18.1% against 16.6%).
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 | WTW |
|---|---|---|
| FY2025 | $5.9B | $9.7B |
| FY2024 | $4.8B | $9.9B |
| FY2023 | $4.3B | $9.5B |
| FY2022 | $3.6B | $8.9B |
| FY2021 | $3.1B | $9.0B |
| FY2020 | $2.6B | $8.6B |
| FY2019 | $2.4B | $8.4B |
| FY2018 | $2.0B | $8.5B |
| FY2017 | $1.9B | $8.2B |
| FY2016 | $1.8B | $7.9B |
Bottom line
| Fiscal year | BRO | WTW |
|---|---|---|
| FY2025 | $1.1B | $1.6B |
| FY2024 | $993.0M | $-98.0M |
| FY2023 | $871.0M | $1.1B |
| FY2022 | $672.0M | $1.0B |
| FY2021 | $587.1M | $4.2B |
| FY2020 | $480.5M | $996.0M |
| FY2019 | $398.5M | $1.0B |
| FY2018 | $344.3M | $695.0M |
| FY2017 | $399.6M | $568.0M |
| FY2016 | $257.5M | $420.0M |
18 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$3,806,000,000 | WTW |
| FY2024 | −$5,125,000,000 | WTW |
| FY2023 | −$5,226,000,000 | WTW |
| FY2022 | −$5,293,000,000 | WTW |
| FY2021 | −$5,946,600,000 | WTW |
| FY2020 | −$6,001,600,000 | WTW |
| FY2019 | −$5,977,829,000 | WTW |
| FY2018 | −$6,498,754,000 | WTW |
| FY2017 | −$6,320,653,000 | WTW |
| FY2016 | −$6,120,371,000 | WTW |
| FY2015 | −$2,168,491,000 | WTW |
| FY2014 | −$2,226,204,000 | WTW |
| FY2013 | −$2,291,721,000 | WTW |
| FY2012 | −$2,279,968,000 | WTW |
| FY2011 | −$2,433,458,000 | WTW |
| FY2010 | −$2,358,508,000 | WTW |
| FY2009 | −$2,285,123,000 | WTW |
| FY2008 | −$1,849,446,000 | WTW |
WTW has reported the higher revenue in every one of these 18 fiscal years. 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 | +1.5 pp | BRO |
| FY2024 | +21.7 pp | BRO |
| FY2023 | +9.2 pp | BRO |
| FY2022 | +7.3 pp | BRO |
| FY2021 | −27.8 pp | WTW |
| FY2020 | +6.5 pp | BRO |
| FY2019 | +3.8 pp | BRO |
| FY2018 | +8.7 pp | BRO |
| FY2017 | +14.0 pp | BRO |
| FY2016 | +9.0 pp | BRO |
| FY2015 | +4.6 pp | BRO |
| FY2014 | +3.3 pp | BRO |
| FY2013 | +5.6 pp | BRO |
| FY2012 | +27.8 pp | BRO |
| FY2011 | +9.8 pp | BRO |
| FY2010 | +2.5 pp | BRO |
| FY2009 | +1.7 pp | BRO |
| FY2008 | +5.5 pp | BRO |
The higher net margin has changed hands between BRO and WTW over this period.
18 of 18 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
WTW's net margin has been more volatile than BRO's over the 18 comparable fiscal years — 10.9 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 WTW over these 18 fiscal years — BRO led in 17 and WTW in 1.
18 of 18 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
WTW's return on equity has been more volatile than BRO's over the 18 comparable fiscal years — 11.3 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 return on equity changed hands between BRO and WTW over these 18 fiscal years — BRO led in 10 and WTW in 8.
18 of 18 comparable fiscal years — a year missing data on either side is not counted.