VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Arthur J. Gallagher & Co. vs American Water Works Company, Inc.

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

Arthur J. Gallagher & Co.

AJG · New York Stock Exchange

Market cap (USD)$67.9B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
IndustryInsurance - Brokers
CountryUS
Data as of2026-01-09
Moat score
69/ 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 Arthur J. Gallagher & Co.'s moat claims, evidence, and risks.

View AJG analysis

American Water Works Company, Inc.

AWK · New York Stock Exchange

Market cap (USD)$25B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorUtilities
Industry
CountryUS
Data as of2026-01-09
Moat score
79/ 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 American Water Works Company, Inc.'s moat claims, evidence, and risks.

View AWK analysis

Comparison highlights

  • Moat score gap: American Water Works Company, Inc. leads (79 / 100 vs 69 / 100 for Arthur J. Gallagher & Co.).
  • Segment focus: Arthur J. Gallagher & Co. has 2 segments (86% in Brokerage); American Water Works Company, Inc. has 2 segments (91.7% in Regulated Businesses).
  • Primary market structure: Oligopoly vs Monopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Arthur J. Gallagher & Co. has 4 moat types across 2 domains; American Water Works Company, Inc. has 8 across 3.

Primary market context

Arthur J. Gallagher & Co.

Brokerage

Market

Insurance and reinsurance brokerage and consulting

Geography

Global

Customer

Commercial, industrial, public sector, nonprofit and other organizations; underwriting enterprises for reinsurance placements

Role

Intermediary / broker / advisor

Revenue share

86%

American Water Works Company, Inc.

Regulated Businesses

Market

Regulated water and wastewater utility service in certificated/franchised territories

Geography

United States (14-state footprint)

Customer

Residential, commercial, industrial, public authority, fire service, and sale-for-resale customers

Role

Regulated utility owner/operator (water & wastewater)

Revenue share

91.7%

Side-by-side metrics

Arthur J. Gallagher & Co.
American Water Works Company, Inc.
Ticker / Exchange
AJG - New York Stock Exchange
AWK - New York Stock Exchange
Market cap (USD)
$67.9B
$25B
Gross margin (TTM)
n/a
n/a
Operating margin (TTM)
n/a
n/a
Net margin (TTM)
n/a
n/a
Sector
Financials
Utilities
Industry
Insurance - Brokers
n/a
HQ country
US
US
Primary segment
Brokerage
Regulated Businesses
Market structure
Oligopoly
Monopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
69 / 100
79 / 100
Moat domains
Supply, Demand
Legal, Supply, Demand
Last update
2026-01-09
2026-01-09

Moat coverage

Shared moat types

Operational Excellence

Arthur J. Gallagher & Co. strengths

Service Field NetworkBrand TrustData Workflow Lockin

American Water Works Company, Inc. strengths

Concession LicensePhysical Network DensityPermits Rights Of WayCompliance AdvantageScale Economies Unit CostLong Term ContractsGovernment Contracting Relationships

Segment mix

Arthur J. Gallagher & Co. segments

Full profile >

Brokerage

Oligopoly

86%

Risk Management

Competitive

14%

American Water Works Company, Inc. segments

Full profile >

Regulated Businesses

Monopoly

91.7%

Military and Contract Water Services (Other)

Duopoly

8.3%

Want the full wide moat stocks list?

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

View the moat stocks list

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.