Brown & Brown vs Annaly Capital Management
Add, change or remove companies; up to four.
The short version
- Annaly Capital Management is the larger business, with $6.0B of revenue in fiscal 2025 against $5.9B for Brown & Brown.
- Investors pay more for each dollar of Brown & Brownβs earnings: a P/E of 23.0x against 4.5x for Annaly Capital Management.
| Latest fiscal year | BRO Β· FY25 | NLY Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $24.4B | $13.6B |
| Revenue | $5.9B | $6.0B |
| Free cash flow | $1.4B | β |
| Net income | $1.1B | $2.0B |
| Growth | ||
| Revenue growth | 22.8% | 23.1% |
| 5-year growth | 17.7% | 21.7% |
| Share count change | 10.2% | 22.6% |
| Profitability | ||
| Gross margin | β | β |
| Operating margin | β | β |
| Net margin | 17.9% | 34.0% |
| FCF margin | 23.4% | β |
| Return on capital | 9.1% | β |
| Return on equity | 11.1% | 14.1% |
| Balance sheet | ||
| Net debt | $6.5B | β |
| Net debt / EBITDA | 3.8x | β |
| Dividends and buybacks | $293M | $495M |
| Valuation & quality | ||
| P/E | 23.0x | 4.5x |
| Piotroski F-score | 4 | β |
Revenue
FY16
BRO $1.8B
NLY $2.2B
FY17
BRO $1.9B
NLY $2.5B
FY18
BRO $2.0B
NLY $3.3B
FY19
BRO $2.4B
NLY $3.8B
FY20
BRO $2.6B
NLY $2.2B
FY21
BRO $3.1B
NLY $2.0B
FY22
BRO $3.6B
NLY $2.8B
FY23
BRO $4.3B
NLY $3.7B
FY24
BRO $4.8B
NLY $4.8B
FY25
BRO $5.9B
NLY $6.0B
BRO
NLY
Operating margin
FY16
BRO β
NLY β
FY17
BRO β
NLY β
FY18
BRO β
NLY β
FY19
BRO β
NLY β
FY20
BRO β
NLY β
FY21
BRO β
NLY β
FY22
BRO β
NLY β
FY23
BRO β
NLY β
FY24
BRO β
NLY β
FY25
BRO β
NLY β
BRO
NLY
Free cash flow
FY16
BRO $393M
NLY β
FY17
BRO $418M
NLY β
FY18
BRO $526M
NLY β
FY19
BRO $605M
NLY β
FY20
BRO $642M
NLY β
FY21
BRO $764M
NLY β
FY22
BRO $829M
NLY β
FY23
BRO $941M
NLY β
FY24
BRO $1.1B
NLY β
FY25
BRO $1.4B
NLY β
BRO
NLY
Return on capital
FY16
BRO 9.8%
NLY 19.1%
FY17
BRO 14.8%
NLY 19.9%
FY18
BRO 10.7%
NLY β
FY19
BRO 10.6%
NLY β
FY20
BRO 11.0%
NLY β0.1%
FY21
BRO 11.9%
NLY β
FY22
BRO 11.7%
NLY β
FY23
BRO 12.3%
NLY β
FY24
BRO 12.6%
NLY β
FY25
BRO 9.1%
NLY β
BRO
NLY
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.