VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Broadcom Inc. vs The Progressive Corporation

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

Broadcom Inc.

AVGO · NASDAQ Global Select Market

Market cap (USD)$1.6T
Gross margin (TTM)67.8%
Operating margin (TTM)39.9%
Net margin (TTM)36.2%
SectorTechnology
IndustrySemiconductors
CountryUS
Data as of2025-12-30
Moat score
66/ 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 Broadcom Inc.'s moat claims, evidence, and risks.

View AVGO 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 gap: The Progressive Corporation leads (75 / 100 vs 66 / 100 for Broadcom Inc.).
  • Segment focus: Broadcom Inc. has 2 segments (57.7% in Semiconductor Solutions); The Progressive Corporation has 2 segments (85% in Personal Lines).
  • Moat breadth: Broadcom Inc. has 8 moat types across 4 domains; The Progressive Corporation has 5 across 2.

Primary market context

Broadcom Inc.

Semiconductor Solutions

Market

Fabless semiconductor solutions (data center and AI networking/custom silicon, connectivity, broadband, storage, industrial) plus semiconductor IP licensing

Geography

Global

Customer

Hyperscalers, OEMs, and contract manufacturers; sold via direct sales and distributors

Role

Fabless chip designer and IP licensor; outsources most wafer manufacturing and assembly/test

Revenue share

57.7%

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

Broadcom Inc.
The Progressive Corporation
Ticker / Exchange
AVGO - NASDAQ Global Select Market
PGR - New York Stock Exchange
Market cap (USD)
$1.6T
$124.8B
Gross margin (TTM)
67.8%
26.3%
Operating margin (TTM)
39.9%
15.9%
Net margin (TTM)
36.2%
12.6%
Sector
Technology
Financials
Industry
Semiconductors
Insurance - Property & Casualty
HQ country
US
US
Primary segment
Semiconductor Solutions
Personal Lines
Market structure
Oligopoly
Oligopoly
Market share
n/a
16.7% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
66 / 100
75 / 100
Moat domains
Demand, Supply, Legal, Network
Supply, Demand
Last update
2025-12-30
2026-01-04

Moat coverage

Shared moat types

Suite Bundling

Broadcom Inc. strengths

Design In QualificationKeystone ComponentSupply Chain ControlIP Choke PointSwitching Costs GeneralLong Term ContractsEcosystem Complements

The Progressive Corporation strengths

Learning Curve YieldBrand TrustService Field NetworkOperational Excellence

Segment mix

Broadcom Inc. segments

Full profile >

Semiconductor Solutions

Oligopoly

57.7%

Infrastructure Software

Oligopoly

42.3%

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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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.