Accelerant Holdings (ARX) is overvalued and Brown & Brown Inc (BRO) is overvalued.
Both trade above our estimate of their intrinsic value. BRO is the closer of the two: -49%, against -499% for ARX.
Values as of the 19 Oct 2026 close.
Book value and earnings at sector multiples values the shares at $3.31; the price of $19.83 is 499% above that value.
No Leak Score yet
Book value at 1.28x, the multiple a 9.8% return on equity justifies, blended with earnings, values the shares at $46.55; the price of $69.22 is 49% above that value.
Leak Score 36/100 on 11 of 12 signals
| Metric | ARX | BRO |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $19.83 | $69.22 |
| Intrinsic value | $3.31 | $46.55 |
| Margin of safety | -499% | -49% |
| Leak Score | — | 36/100 (11/12) |
| Market cap | $4.3B | $23.2B |
| Revenue growth, 5 years | — | 17.7% |
| Operating margin | 23.4% | 29.5% |
| Net margin | -181.9% | 17.5% |
| Return on equity | -380.1% | 9.8% |
| Debt to equity | 0.17 | 0.64 |
| P/E | — | 21.9x |
| Forward P/E | 21.3x | 14.3x |
| P/B | 6.0x | 1.8x |
| Dividend yield | — | 1.0% |