VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

BAE Systems plc vs CSX Corporation

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

BAE Systems plc

BA. · London Stock Exchange

Market cap (USD)$51.1B
Gross margin (TTM)8.6%
Operating margin (TTM)9.3%
Net margin (TTM)7.4%
SectorIndustrials
IndustryAerospace & Defense
CountryGB
Data as of2025-12-28
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 BAE Systems plc's moat claims, evidence, and risks.

View BA. analysis

CSX Corporation

CSX · NASDAQ

Market cap (USD)$67.7B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorIndustrials
IndustryRailroads
CountryUS
Data as of2026-01-02
Moat score
74/ 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 CSX Corporation's moat claims, evidence, and risks.

View CSX analysis

Comparison highlights

  • Moat score gap: BAE Systems plc leads (75 / 100 vs 74 / 100 for CSX Corporation).
  • Segment focus: BAE Systems plc has 5 segments (26.6% in Electronic Systems); CSX Corporation has 5 segments (61.2% in Merchandise (Rail)).
  • Moat breadth: BAE Systems plc has 8 moat types across 3 domains; CSX Corporation has 6 across 2.

Primary market context

BAE Systems plc

Electronic Systems

Market

Defence electronics (electronic warfare, avionics, C4ISR, space payloads and mission systems)

Geography

Primarily US and UK; global programmes

Customer

Government defence and intelligence agencies; prime contractors

Role

Subsystem OEM and prime contractor for electronics/mission systems

Revenue share

26.6%

CSX Corporation

Merchandise (Rail)

Market

Eastern U.S. rail freight transportation (merchandise carload)

Geography

Eastern United States (CSX network; interchange to other railroads)

Customer

Industrial, agricultural, automotive and consumer goods shippers; logistics providers

Role

Common-carrier freight railroad (line-haul + switching/terminal)

Revenue share

61.2%

Side-by-side metrics

BAE Systems plc
CSX Corporation
Ticker / Exchange
BA. - London Stock Exchange
CSX - NASDAQ
Market cap (USD)
$51.1B
$67.7B
Gross margin (TTM)
8.6%
n/a
Operating margin (TTM)
9.3%
n/a
Net margin (TTM)
7.4%
n/a
Sector
Industrials
Industrials
Industry
Aerospace & Defense
Railroads
HQ country
GB
US
Primary segment
Electronic Systems
Merchandise (Rail)
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
75 / 100
74 / 100
Moat domains
Legal, Demand, Supply
Supply, Legal
Last update
2025-12-28
2026-01-02

Moat coverage

Shared moat types

Capex Knowhow Scale

BAE Systems plc strengths

Government Contracting RelationshipsDesign In QualificationCompliance AdvantageService Field NetworkLong Term ContractsCapacity MoatSwitching Costs General

CSX Corporation strengths

Physical Network DensityPermits Rights Of WayOperational ExcellenceGeographic NaturalScale Economies Unit Cost

Segment mix

BAE Systems plc segments

Full profile >

Electronic Systems

Oligopoly

26.6%

Platforms & Services

Oligopoly

16.3%

Air

Oligopoly

26%

Maritime

Oligopoly

22.5%

Cyber & Intelligence

Competitive

8.6%

CSX Corporation segments

Full profile >

Merchandise (Rail)

Oligopoly

61.2%

Intermodal (Rail)

Competitive

14.1%

Coal (Rail)

Oligopoly

15.5%

Trucking (Quality Carriers)

Competitive

5.8%

Other Revenue (Rail/Ancillary)

Competitive

3.4%

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

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.