VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Murata Manufacturing Co., Ltd. vs The Progressive Corporation

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

Murata Manufacturing Co., Ltd.

6981 · Tokyo Stock Exchange

Market cap (USD)$6.2T
Gross margin (TTM)41.4%
Operating margin (TTM)16.8%
Net margin (TTM)13.4%
SectorTechnology
IndustryHardware, Equipment & Parts
CountryJP
Data as of2025-12-30
Moat score
75/ 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 Murata Manufacturing Co., Ltd.'s moat claims, evidence, and risks.

View 6981 analysis

The Progressive Corporation

PGR · New York Stock Exchange

Market cap (USD)$124.8B
Gross margin (TTM)26.3%
Operating margin (TTM)15.9%
Net margin (TTM)12.6%
SectorFinancials
IndustryInsurance - Property & Casualty
CountryUS
Data as of2026-01-04
Moat score
75/ 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 The Progressive Corporation's moat claims, evidence, and risks.

View PGR analysis

Comparison highlights

  • Moat score: both at 75 / 100.
  • Segment focus: Murata Manufacturing Co., Ltd. has 6 segments (47.7% in Capacitors (primarily MLCC)); The Progressive Corporation has 2 segments (85% in Personal Lines).
  • Moat breadth: Murata Manufacturing Co., Ltd. has 8 moat types across 4 domains; The Progressive Corporation has 5 across 2.

Primary market context

Murata Manufacturing Co., Ltd.

Capacitors (primarily MLCC)

Market

Multilayer ceramic capacitors (MLCC) and related capacitors

Geography

Global

Customer

Electronics OEMs and tier-1 suppliers (smartphone, PC/server, automotive, industrial)

Role

Component manufacturer / supplier

Revenue share

47.7%

The Progressive Corporation

Personal Lines

Market

U.S. private passenger auto insurance (dominant) plus specialty personal lines and homeowners/renters (small portion)

Geography

United States

Customer

Individuals/households

Role

Primary insurer (P&C)

Revenue share

85%

Side-by-side metrics

Murata Manufacturing Co., Ltd.
The Progressive Corporation
Ticker / Exchange
6981 - Tokyo Stock Exchange
PGR - New York Stock Exchange
Market cap (USD)
$6.2T
$124.8B
Gross margin (TTM)
41.4%
26.3%
Operating margin (TTM)
16.8%
15.9%
Net margin (TTM)
13.4%
12.6%
Sector
Technology
Financials
Industry
Hardware, Equipment & Parts
Insurance - Property & Casualty
HQ country
JP
US
Primary segment
Capacitors (primarily MLCC)
Personal Lines
Market structure
Oligopoly
Oligopoly
Market share
38%-42% (reported)
16.7% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
75 / 100
75 / 100
Moat domains
Supply, Demand, Financial, Legal
Supply, Demand
Last update
2025-12-30
2026-01-04

Moat coverage

Shared moat types

Learning Curve YieldBrand Trust

Murata Manufacturing Co., Ltd. strengths

Capex Knowhow ScaleDesign In QualificationBenchmark Pricing PowerIP Choke PointCompliance AdvantageResidual segment

The Progressive Corporation strengths

Service Field NetworkSuite BundlingOperational Excellence

Segment mix

Murata Manufacturing Co., Ltd. segments

Full profile >

Capacitors (primarily MLCC)

Oligopoly

47.7%

Inductors and EMI Filters

Oligopoly

11.5%

High-Frequency Devices and Communications Modules

Oligopoly

25.4%

Batteries and Power Supply

Competitive

8.9%

Functional Devices (including sensors)

Competitive

5.6%

Other

Competitive

0.9%

The Progressive Corporation segments

Full profile >

Personal Lines

Oligopoly

85%

Commercial Lines

Competitive

15%

Want the full wide moat stocks list?

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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.