NODK vs MMC vs AON vs BRO vs RYAN

For growth investors, Brown & Brown, Inc.

(BRO) is the stronger pick with 26. 6% revenue growth year-over-year, versus -100. 0% for NI Holdings, Inc. (NODK). Brown & Brown, Inc. (BRO) offers the better valuation at 18. 4x trailing P/E (12. 8x forward), making it the more compelling value choice. Analysts rate Aon plc (AON) a "Buy" — based on 38 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, Brown & Brown, Inc.

(BRO) is the cheapest at 18. 4x versus Ryan Specialty Holdings, Inc. at 67. 5x. On forward P/E, Brown & Brown, Inc. is actually cheaper at 12. 8x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Marsh & McLennan Companies, Inc. wins at 0. 88x versus Aon plc's 1. 10x — a PEG below 1. 0 traditionally signals the market is underpricing earnings growth.

Over the past 5 years, Marsh & McLennan Companies, Inc.

(MMC) delivered a total return of +36. 5%, compared to -30. 8% for NI Holdings, Inc. (NODK). Over 10 years, the gap is even starker: BRO returned +253. 0% versus NODK's -12. 4%. 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), Brown & Brown, Inc.

(BRO) is the lower-risk stock at 0. 07β versus NI Holdings, Inc. 's 0. 57β — meaning NODK is approximately 679% more volatile than BRO relative to the S&P 500. On balance sheet safety, Brown & Brown, Inc. (BRO) carries a lower debt/equity ratio of 63% 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 -100. 0% for NI Holdings, Inc. (NODK). On earnings-per-share growth, the picture is similar: Aon plc grew EPS 36. 3% year-over-year, compared to -100. 0% for NI Holdings, Inc.. Over a 3-year CAGR, RYAN leads at 20. 9% 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.

Aon plc (AON) is the more profitable company, earning 21.

5% net margin versus 0. 9% for NI Holdings, Inc. — meaning it keeps 21. 5% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: BRO leads at 28. 5% versus 1. 5% for NODK. 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, Marsh & McLennan Companies, Inc. (MMC) is the more undervalued stock at a PEG of 0. 88x versus Aon plc's 1. 10x. A PEG below 1. 0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, Brown & Brown, Inc. (BRO) trades at 12. 8x forward P/E versus 16. 9x for Marsh & McLennan Companies, Inc. — 4. 1x 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. NODK 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. 07), 1. 1% yield, +253. 0% 10Y return). Both have compounded well over 10 years (BRO: +253. 0%, NODK: -12. 4%), 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: NODK is a small-cap quality compounder stock; MMC is a mid-cap quality compounder stock; AON is a mid-cap quality compounder stock; BRO is a mid-cap high-growth stock; RYAN is a small-cap high-growth stock. MMC, AON, BRO, RYAN pay a dividend while NODK 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.