VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Arthur J. Gallagher & Co. vs Northrop Grumman Corporation

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

Northrop Grumman Corporation

NOC · New York Stock Exchange

Market cap (USD)$88.3B
Gross margin (TTM)19.4%
Operating margin (TTM)10.6%
Net margin (TTM)9.8%
SectorIndustrials
IndustryAerospace & Defense
CountryUS
Data as of2025-12-26
Moat score
72/ 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 Northrop Grumman Corporation's moat claims, evidence, and risks.

View NOC analysis

Comparison highlights

  • Moat score gap: Northrop Grumman Corporation leads (72 / 100 vs 69 / 100 for Arthur J. Gallagher & Co.).
  • Segment focus: Arthur J. Gallagher & Co. has 2 segments (86% in Brokerage); Northrop Grumman Corporation has 4 segments (28.7% in Aeronautics Systems).
  • Moat breadth: Arthur J. Gallagher & Co. has 4 moat types across 2 domains; Northrop Grumman Corporation has 6 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%

Northrop Grumman Corporation

Aeronautics Systems

Market

Military aircraft systems (manned & unmanned) plus sustainment/modernization

Geography

Global (primarily United States and allies)

Customer

U.S. government and allied governments

Role

Prime contractor and major subsystem supplier

Revenue share

28.7%

Side-by-side metrics

Arthur J. Gallagher & Co.
Northrop Grumman Corporation
Ticker / Exchange
AJG - New York Stock Exchange
NOC - New York Stock Exchange
Market cap (USD)
$67.9B
$88.3B
Gross margin (TTM)
n/a
19.4%
Operating margin (TTM)
n/a
10.6%
Net margin (TTM)
n/a
9.8%
Sector
Financials
Industrials
Industry
Insurance - Brokers
Aerospace & Defense
HQ country
US
US
Primary segment
Brokerage
Aeronautics Systems
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
69 / 100
72 / 100
Moat domains
Supply, Demand
Legal, Demand, Supply
Last update
2026-01-09
2025-12-26

Moat coverage

Shared moat types

No overlap yet.

Arthur J. Gallagher & Co. strengths

Service Field NetworkBrand TrustData Workflow LockinOperational Excellence

Northrop Grumman Corporation strengths

Government Contracting RelationshipsDesign In QualificationCompliance AdvantageCapacity MoatSwitching Costs GeneralCapex Knowhow Scale

Segment mix

Arthur J. Gallagher & Co. segments

Full profile >

Brokerage

Oligopoly

86%

Risk Management

Competitive

14%

Northrop Grumman Corporation segments

Full profile >

Aeronautics Systems

Oligopoly

28.7%

Defense Systems

Oligopoly

18.8%

Mission Systems

Oligopoly

24.9%

Space Systems

Oligopoly

27.6%

Want the full wide moat stocks list?

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

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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.