A brazing clad material is a composite material that comprises a base material and a brazing material layer formed integrally on the base material. The brazing material layer has a Ni or Ni alloy layer, a Ti or Ti alloy layer and a Fe--Ni alloy layer that are sequentially stacked in this order on the base material. The brazing material layer has a Fe concentration of 25 to 40 wt % in the entire brazing material layer. The brazing material layer satisfies a ratio of W1/W2 to be 0.56 to 0.66, where W1 is a weight of Ni contained in the entire brazing material layer and W2 is a total weight of Ni and Ti contained in the entire brazing material layer.