VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Arthur J. Gallagher & Co. vs Caterpillar 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

Caterpillar Inc.

CAT · New York Stock Exchange

Market cap (USD)$289.3B
Gross margin (TTM)33.9%
Operating margin (TTM)17.7%
Net margin (TTM)14.3%
SectorIndustrials
IndustryAgricultural - Machinery
CountryUS
Data as of2025-12-25
Moat score
68/ 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 Caterpillar Inc.'s moat claims, evidence, and risks.

View CAT analysis

Comparison highlights

  • Moat score gap: Arthur J. Gallagher & Co. leads (69 / 100 vs 68 / 100 for Caterpillar Inc.).
  • Segment focus: Arthur J. Gallagher & Co. has 2 segments (86% in Brokerage); Caterpillar Inc. has 5 segments (40.7% in Energy & Transportation).
  • Moat breadth: Arthur J. Gallagher & Co. has 4 moat types across 2 domains; Caterpillar Inc. has 9 across 4.

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%

Caterpillar Inc.

Energy & Transportation

Market

Off-highway engines, power generation, turbines, locomotives and related services

Geography

Global

Customer

Energy companies, industrial customers, OEMs, rail and marine operators

Role

OEM + aftermarket parts/service

Revenue share

40.7%

Side-by-side metrics

Arthur J. Gallagher & Co.
Caterpillar Inc.
Ticker / Exchange
AJG - New York Stock Exchange
CAT - New York Stock Exchange
Market cap (USD)
$67.9B
$289.3B
Gross margin (TTM)
n/a
33.9%
Operating margin (TTM)
n/a
17.7%
Net margin (TTM)
n/a
14.3%
Sector
Financials
Industrials
Industry
Insurance - Brokers
Agricultural - Machinery
HQ country
US
US
Primary segment
Brokerage
Energy & Transportation
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
69 / 100
68 / 100
Moat domains
Supply, Demand
Supply, Demand, Financial, Network
Last update
2026-01-09
2025-12-25

Moat coverage

Shared moat types

Service Field NetworkBrand Trust

Arthur J. Gallagher & Co. strengths

Data Workflow LockinOperational Excellence

Caterpillar Inc. strengths

Distribution ControlInstalled Base ConsumablesCapex Knowhow ScaleDesign In QualificationSuite BundlingUnderwriting Risk PoolingEcosystem Complements

Segment mix

Arthur J. Gallagher & Co. segments

Full profile >

Brokerage

Oligopoly

86%

Risk Management

Competitive

14%

Caterpillar Inc. segments

Full profile >

Construction Industries

Oligopoly

35.9%

Resource Industries

Oligopoly

17.5%

Energy & Transportation

Oligopoly

40.7%

Financial Products

Competitive

5.3%

All Other

Competitive

0.6%

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.