BRO vs. AJG
BRO (Brown & Brown, Inc.) and AJG (Arthur J. Gallagher & Co.) are both stocks. Both operate in the Insurance Brokers industry within the Financial Services sector. Over the past 10 years, BRO returned 13.27%/yr vs 17.92%/yr for AJG. At a 0.47 correlation, their price movements are largely independent.
Performance
BRO vs. AJG - Performance Comparison
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Returns By Period
In the year-to-date period, BRO achieves a -26.85% return, which is significantly lower than AJG's -17.35% return. Over the past 10 years, BRO has underperformed AJG with an annualized return of 13.27%, while AJG has yielded a comparatively higher 17.92% annualized return.
BRO
- 1D
- -1.46%
- 1M
- 3.05%
- YTD
- -26.85%
- 6M
- -24.91%
- 1Y
- -47.08%
- 3Y*
- -2.56%
- 5Y*
- 3.04%
- 10Y*
- 13.27%
AJG
- 1D
- -1.67%
- 1M
- 7.22%
- YTD
- -17.35%
- 6M
- -10.08%
- 1Y
- -34.63%
- 3Y*
- 1.87%
- 5Y*
- 9.17%
- 10Y*
- 17.92%
BRO vs. AJG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BRO Brown & Brown, Inc. | -26.85% | -21.37% | 44.32% | 25.73% | -18.39% | 49.31% | 21.06% | 44.67% | 8.30% | 16.15% |
AJG Arthur J. Gallagher & Co. | -17.35% | -8.03% | 27.34% | 20.51% | 12.44% | 39.02% | 32.12% | 31.79% | 19.19% | 25.04% |
Correlation
The correlation between BRO and AJG is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Mar 4, 1992 | 0.47 |
Over the past year, BRO and AJG have become more correlated (0.72) than their long-term average of 0.47, meaning their price movements have been converging.
Fundamentals
BRO:
$4.76
AJG:
$5.74
BRO:
12.18
AJG:
37.04
BRO:
0.89
AJG:
3.84
BRO:
2.18
AJG:
3.97
BRO:
$6.43B
AJG:
$13.94B
BRO:
$3.82B
AJG:
$7.63B
BRO:
$1.51B
AJG:
$3.66B
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Return for Risk
BRO vs. AJG — Risk / Return Rank
BRO
AJG
BRO vs. AJG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Brown & Brown, Inc. (BRO) and Arthur J. Gallagher & Co. (AJG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| BRO | AJG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.76 | ||
| Omega ratioGain probability vs. loss probability | 0.69 | 0.78 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | -0.85 | -0.08 |
| Martin ratioReturn relative to average drawdown | -1.59 | -1.47 | -0.12 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BRO | AJG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.66 | -1.25 | -0.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.12 | 0.40 | -0.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.78 | -0.22 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.47 | +0.03 |
Drawdowns
BRO vs. AJG - Drawdown Comparison
The maximum BRO drawdown since its inception was -55.85%, roughly equal to the maximum AJG drawdown of -57.49%. Use the drawdown chart below to compare losses from any high point for BRO and AJG.
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Drawdown Indicators
| BRO | AJG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.85% | -57.49% | +1.64% |
Max Drawdown (1Y)Largest decline over 1 year | -50.55% | -40.64% | -9.91% |
Max Drawdown (3Y)Largest decline over 3 years | -55.85% | -44.40% | -11.45% |
Max Drawdown (5Y)Largest decline over 5 years | -55.85% | -44.40% | -11.45% |
Max Drawdown (10Y)Largest decline over 10 years | -55.85% | -44.40% | -11.45% |
Current DrawdownCurrent decline from peak | -52.91% | -38.26% | -14.65% |
Average DrawdownAverage peak-to-trough decline | -13.52% | -12.83% | -0.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.57% | 24.06% | +5.51% |
Volatility
BRO vs. AJG - Volatility Comparison
Brown & Brown, Inc. (BRO) has a higher volatility of 9.52% compared to Arthur J. Gallagher & Co. (AJG) at 8.97%. This indicates that BRO's price experiences larger fluctuations and is considered to be riskier than AJG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BRO | AJG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.52% | 8.97% | +0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 21.90% | 22.42% | -0.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.53% | 27.95% | +0.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.81% | 22.96% | +1.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.69% | 23.08% | +0.61% |
Dividends
BRO vs. AJG - Dividend Comparison
BRO's dividend yield for the trailing twelve months is around 1.11%, less than AJG's 1.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AJG Arthur J. Gallagher & Co. | 1.27% | 1.00% | 0.85% | 0.98% | 1.08% | 1.13% | 1.46% | 1.81% | 2.23% | 2.47% | 2.93% | 3.62% |
BRO Brown & Brown, Inc. | 1.11% | 0.77% | 0.53% | 0.67% | 0.74% | 0.54% | 0.73% | 0.82% | 1.11% | 1.08% | 1.12% | 1.41% |
Financials
BRO vs. AJG - Financials Comparison
This section allows you to compare key financial metrics between Brown & Brown, Inc. and Arthur J. Gallagher & Co.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
BRO vs. AJG - Profitability Comparison
BRO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Brown & Brown, Inc. reported a gross profit of 994.00M and revenue of 1.90B. Therefore, the gross margin over that period was 52.3%.
AJG - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Arthur J. Gallagher & Co. reported a gross profit of 1.42B and revenue of 3.63B. Therefore, the gross margin over that period was 39.1%.
BRO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Brown & Brown, Inc. reported an operating income of 0.00 and revenue of 1.90B, resulting in an operating margin of 0.0%.
AJG - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Arthur J. Gallagher & Co. reported an operating income of 341.00M and revenue of 3.63B, resulting in an operating margin of 9.4%.
BRO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Brown & Brown, Inc. reported a net income of 426.00M and revenue of 1.90B, resulting in a net margin of 22.4%.
AJG - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Arthur J. Gallagher & Co. reported a net income of 151.00M and revenue of 3.63B, resulting in a net margin of 4.2%.
Frequently Asked Questions
BRO and AJG have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BRO has higher volatility (9.52%) compared to AJG (8.97%). In terms of maximum drawdown, BRO dropped -55.85% vs AJG's -57.49%.
AJG currently has the higher Sharpe Ratio (-1.25 vs -1.66), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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