VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Oriental Land Co., Ltd. vs TC Energy Corporation

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Oriental Land Co., Ltd.

4661 · Tokyo Stock Exchange

Market cap (USD)$4.8T
Gross margin (TTM)40.1%
Operating margin (TTM)25.4%
Net margin (TTM)18.2%
SectorConsumer
IndustryLeisure
CountryJP
Data as of2025-12-30
Moat score
95/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Oriental Land Co., Ltd.'s moat claims, evidence, and risks.

View 4661 analysis

TC Energy Corporation

TRP · New York Stock Exchange

Market cap (USD)$37B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorEnergy
Industry
CountryCA
Data as of2026-01-02
Moat score
80/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into TC Energy Corporation's moat claims, evidence, and risks.

View TRP analysis

Comparison highlights

  • Moat score gap: Oriental Land Co., Ltd. leads (95 / 100 vs 80 / 100 for TC Energy Corporation).
  • Segment focus: Oriental Land Co., Ltd. has 3 segments (81.3% in Theme Park Segment); TC Energy Corporation has 4 segments (46.1% in U.S. Natural Gas Pipelines).
  • Primary market structure: Duopoly vs Oligopoly. Pricing power: Strong vs Weak.
  • Moat breadth: Oriental Land Co., Ltd. has 5 moat types across 4 domains; TC Energy Corporation has 4 across 3.

Primary market context

Oriental Land Co., Ltd.

Theme Park Segment

Market

Large-scale destination theme parks in Japan (Tokyo Disney Resort parks: Tokyo Disneyland and Tokyo DisneySea)

Geography

Japan (with inbound tourism)

Customer

Consumers (domestic residents and inbound tourists), plus group/agency channels

Role

Owner/operator of theme parks under licensed IP

Revenue share

81.3%

TC Energy Corporation

U.S. Natural Gas Pipelines

Market

U.S. interstate natural gas pipeline transportation (FERC-regulated)

Geography

United States

Customer

Utilities/LDCs, power generators, LNG/export facilities, industrial users and marketers (as shippers)

Role

Midstream pipeline operator

Revenue share

46.1%

Side-by-side metrics

Oriental Land Co., Ltd.
TC Energy Corporation
Ticker / Exchange
4661 - Tokyo Stock Exchange
TRP - New York Stock Exchange
Market cap (USD)
$4.8T
$37B
Gross margin (TTM)
40.1%
n/a
Operating margin (TTM)
25.4%
n/a
Net margin (TTM)
18.2%
n/a
Sector
Consumer
Energy
Industry
Leisure
n/a
HQ country
JP
CA
Primary segment
Theme Park Segment
U.S. Natural Gas Pipelines
Market structure
Duopoly
Oligopoly
Market share
62%-65% (implied)
n/a
HHI estimate
5,349
n/a
Pricing power
Strong
Weak
Moat score
95 / 100
80 / 100
Moat domains
Legal, Demand, Supply, Network
Legal, Demand, Supply
Last update
2025-12-30
2026-01-02

Moat coverage

Shared moat types

No overlap yet.

Oriental Land Co., Ltd. strengths

Content Rights CurrencyBrand TrustCapex Knowhow ScaleEcosystem ComplementsDistribution Control

TC Energy Corporation strengths

Regulated Standards PipeLong Term ContractsPhysical Network DensityGovernment Contracting Relationships

Segment mix

Oriental Land Co., Ltd. segments

Full profile >

Theme Park Segment

Duopoly

81.3%

Hotel Business Segment

Oligopoly

16.2%

Other Business Segment

Competitive

2.5%

TC Energy Corporation segments

Full profile >

Canadian Natural Gas Pipelines

Quasi-Monopoly

40.7%

U.S. Natural Gas Pipelines

Oligopoly

46.1%

Mexico Natural Gas Pipelines

Oligopoly

6.3%

Power and Energy Solutions

Competitive

6.9%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.