BRO vs RYAN vs MMC vs ACGL vs AON

For growth investors, Brown & Brown, Inc.

(BRO) is the stronger pick with 26. 6% revenue growth year-over-year, versus 7. 6% for Marsh & McLennan Companies, Inc. (MMC). Arch Capital Group Ltd. (ACGL) offers the better valuation at 8. 1x trailing P/E (10. 0x forward), making it the more compelling value choice. Analysts rate Ryan Specialty Holdings, Inc. (RYAN) a "Buy" — based on 19 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

On trailing P/E, Arch Capital Group Ltd.

(ACGL) is the cheapest at 8. 1x versus Ryan Specialty Holdings, Inc. at 67. 5x. On forward P/E, Arch Capital Group Ltd. is actually cheaper at 10. 0x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Arch Capital Group Ltd. wins at 0. 35x versus Aon plc's 1. 09x — a PEG below 1. 0 traditionally signals the market is underpricing earnings growth.

Over the past 5 years, Arch Capital Group Ltd.

(ACGL) delivered a total return of +144. 0%, compared to +12. 8% for Brown & Brown, Inc. (BRO). Over 10 years, the gap is even starker: ACGL returned +321. 0% versus RYAN's +18. 5%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), Arch Capital Group Ltd.

(ACGL) is the lower-risk stock at -0. 01β versus Ryan Specialty Holdings, Inc. 's 0. 19β — meaning RYAN is approximately -1766% more volatile than ACGL relative to the S&P 500. On balance sheet safety, Arch Capital Group Ltd. (ACGL) carries a lower debt/equity ratio of 11% versus 3% for Ryan Specialty Holdings, Inc. — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), Brown & Brown, Inc.

(BRO) is pulling ahead at 26. 6% versus 7. 6% for Marsh & McLennan Companies, Inc. (MMC). On earnings-per-share growth, the picture is similar: Aon plc grew EPS 36. 3% year-over-year, compared to -33. 8% for Ryan Specialty Holdings, Inc.. Over a 3-year CAGR, ACGL leads at 27. 3% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

Arch Capital Group Ltd.

(ACGL) is the more profitable company, earning 22. 1% net margin versus 2. 1% for Ryan Specialty Holdings, Inc. — meaning it keeps 22. 1% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: BRO leads at 28. 5% versus 20. 5% for RYAN. At the gross margin level — before operating expenses — RYAN leads at 90. 6%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential.

By this metric, Arch Capital Group Ltd. (ACGL) is the more undervalued stock at a PEG of 0. 35x versus Aon plc's 1. 09x. A PEG below 1. 0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, Arch Capital Group Ltd. (ACGL) trades at 10. 0x forward P/E versus 16. 9x for Marsh & McLennan Companies, Inc. — 6. 8x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for BRO: 52. 4% to $88. 50.

In this comparison, MMC (1.

8% yield), BRO (1. 1% yield), AON (0. 9% yield), RYAN (0. 7% yield) pay a dividend. ACGL does not pay a meaningful dividend and should not be held primarily for income.

For long-horizon retirement investors, Brown & Brown, Inc.

(BRO) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 02), 1. 1% yield, +243. 8% 10Y return). Both have compounded well over 10 years (BRO: +243. 8%, ACGL: +321. 0%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

In terms of investment character: BRO is a mid-cap high-growth stock; RYAN is a small-cap high-growth stock; MMC is a mid-cap quality compounder stock; ACGL is a mid-cap deep-value stock; AON is a mid-cap quality compounder stock. BRO, RYAN, MMC, AON pay a dividend while ACGL does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.