Insurance Agents, Brokers & Service stocks: intrinsic value, ROIC & growth
23 U.S. insurance agents, brokers & service companies with at least three years of SEC filings, ranked by size. 6 of the 16 with a current price trade below their Graham intrinsic value. The median company earned a 14.7% average return on invested capital and grew revenue 15.0% a year.
Updated October 18, 2026
23companies
6below Graham value
14.7%median 10-yr ROIC
15.0%median revenue CAGR
Most undervalued insurance agents, brokers & service stocks
| Ticker | Company | Upside | Price | Graham value | Price vs value | Market cap | ROIC (10y) | Revenue CAGR |
|---|---|---|---|---|---|---|---|---|
| WTW | Willis Towers Watson | +71% | $315.49 | $540.09 | 42% below | $31.2B | 7.5% | 2.1% |
| BRO | Brown & Brown | +51% | $69.40 | $104.96 | 34% below | $21.7B | 10.0% | 14.3% |
| AON | Aon plc | +23% | $292.55 | $359.76 | 19% below | $63.5B | 19.1% | 6.9% |
Highest-ROIC insurance agents, brokers & service stocks
| Ticker | Company | 10-yr ROIC | Price | Graham value | Price vs value | Market cap | ROIC (10y) | Revenue CAGR |
|---|---|---|---|---|---|---|---|---|
| CRVL | CORVEL CORP | 41.2% | $79.69 | $71.08 | 12% above | $4.1B | 41.2% | 7.1% |
| ERIE | Erie Indemnity | 28.3% | $243.71 | — | — | — | 28.3% | 10.9% |
| AON | Aon plc | 19.1% | $292.55 | $359.76 | 19% below | $63.5B | 19.1% | 6.9% |
| RYAN | RYAN SPECIALTY HOLDINGS, INC. | 16.9% | $40.75 | — | — | — | 16.9% | 25.7% |
| MRSH | Marsh McLennan | 15.8% | $188.35 | $178.19 | 6% above | $93.0B | 15.8% | 8.3% |
| QDMI | QDM International Inc. | 15.4% | $10.00 | $0.66 | 1415% above | $2.4B | 15.4% | 15.0% |
| ACT | Enact Holdings, Inc. | 14.0% | $46.28 | $43.99 | 5% above | $6.9B | 14.0% | 4.0% |
| BRO | Brown & Brown | 10.0% | $69.40 | $104.96 | 34% below | $21.7B | 10.0% | 14.3% |
| AJG | Arthur J. Gallagher & Co. | 7.5% | $254.88 | $146.98 | 73% above | $66.3B | 7.5% | 10.5% |
| WTW | Willis Towers Watson | 7.5% | $315.49 | $540.09 | 42% below | $31.2B | 7.5% | 2.1% |
All insurance agents, brokers & service stocks
| Ticker | Company | Price | Graham value | Price vs value | Market cap | ROIC (10y) | Revenue CAGR |
|---|---|---|---|---|---|---|---|
| MRSH | Marsh McLennan | $188.35 | $178.19 | 6% above | $93.0B | 15.8% | 8.3% |
| AJG | Arthur J. Gallagher & Co. | $254.88 | $146.98 | 73% above | $66.3B | 7.5% | 10.5% |
| AON | Aon plc | $292.55 | $359.76 | 19% below | $63.5B | 19.1% | 6.9% |
| WTW | Willis Towers Watson | $315.49 | $540.09 | 42% below | $31.2B | 7.5% | 2.1% |
| BRO | Brown & Brown | $69.40 | $104.96 | 34% below | $21.7B | 10.0% | 14.3% |
| HGTY | Hagerty, Inc. | $15.30 | $4.10 | 273% above | $18.5B | 25.4% | 19.4% |
| EQH | Equitable Holdings, Inc. | $53.21 | $27.13 | 96% above | $15.9B | -450.8% | -0.1% |
| ERIE | Erie Indemnity | $243.71 | — | — | — | 28.3% | 10.9% |
| ACT | Enact Holdings, Inc. | $46.28 | $43.99 | 5% above | $6.9B | 14.0% | 4.0% |
| RYAN | RYAN SPECIALTY HOLDINGS, INC. | $40.75 | — | — | — | 16.9% | 25.7% |
| CRVL | CORVEL CORP | $79.69 | $71.08 | 12% above | $4.1B | 41.2% | 7.1% |
| ARX | Accelerant Holdings | $19.75 | $4.65 | 325% above | $3.8B | 77.8% | 62.9% |
| NP | Neptune Insurance Holdings Inc. | $29.36 | $5.31 | 453% above | $3.1B | -19.1% | 37.1% |
| QDMI | QDM International Inc. | $10.00 | $0.66 | 1415% above | $2.4B | 15.4% | 15.0% |
| LIFE | Ethos Technologies Inc. | $37.52 | $40.52 | 7% below | $2.2B | -42.6% | 52.0% |
| BWIN | Baldwin Insurance Group, Inc. | $31.91 | — | — | $2.2B | 0.4% | 42.4% |
| GOCO | GoHealth, Inc. | — | — | — | — | -29.7% | 6.9% |
| TWFG | TWFG, Inc. | $25.37 | $17.60 | 44% above | $383.1M | -30.4% | 17.3% |
| SLQT | SelectQuote, Inc. | $0.32 | — | — | $58.9M | 14.7% | 30.8% |
| AAPI | Apple iSports Group, Inc. | $0.19 | — | — | $41.7M | 242.1% | — |
| HIT | Health In Tech, Inc. | $0.65 | $0.66 | 2% below | $37.6M | 44.5% | 39.7% |
| EHTH | eHealth, Inc. | $0.59 | $49.51 | 99% below | $17.9M | -12.9% | 12.8% |
| EZRA | Reliance Global Group, Inc. | $2.28 | — | — | $12.4M | 168.3% | 18.7% |
Stock lists
Undervalued Stocks Below Graham Intrinsic Value
Highest ROIC Stocks (10-Year Average)
Highest Free Cash Flow Yield Stocks
Fastest-Growing Stocks by 10-Year Revenue