VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Brookfield Asset Management Ltd. vs TC Energy Corporation

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

Brookfield Asset Management Ltd.

BAM · New York Stock Exchange

Market cap (USD)$88.3B
Gross margin (TTM)68.4%
Operating margin (TTM)66.6%
Net margin (TTM)58.3%
SectorFinancials
IndustryAsset Management
CountryCA
Data as of2026-01-05
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 Brookfield Asset Management Ltd.'s moat claims, evidence, and risks.

View BAM analysis

TC Energy Corporation

TRP · New York Stock Exchange

Market cap (USD)$57.6B
Gross margin (TTM)50.7%
Operating margin (TTM)44.4%
Net margin (TTM)28.2%
SectorEnergy
IndustryOil & Gas Midstream
CountryCA
Data as of2026-01-02
Moat score
80/ 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 TC Energy Corporation's moat claims, evidence, and risks.

View TRP analysis

Comparison highlights

  • Moat score gap: TC Energy Corporation leads (80 / 100 vs 75 / 100 for Brookfield Asset Management Ltd.).
  • Segment focus: Brookfield Asset Management Ltd. has 5 segments (30.3% in Credit); TC Energy Corporation has 4 segments (46.1% in U.S. Natural Gas Pipelines).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Weak.
  • Moat breadth: Brookfield Asset Management Ltd. has 4 moat types across 2 domains; TC Energy Corporation has 4 across 3.

Primary market context

Brookfield Asset Management Ltd.

Credit

Market

Private credit, opportunistic credit, and multi-strategy credit asset management

Geography

Global

Customer

Institutional investors, insurance accounts, and private wealth investors

Role

Alternative credit manager / asset manager

Revenue share

30.3%

TC Energy Corporation

U.S. Natural Gas Pipelines

Market

U.S. interstate natural gas pipeline transportation (FERC-regulated)

Geography

United States

Customer

Utilities/LDCs, power generators, LNG/export facilities, industrial users and marketers (as shippers)

Role

Midstream pipeline operator

Revenue share

46.1%

Side-by-side metrics

Brookfield Asset Management Ltd.
TC Energy Corporation
Ticker / Exchange
BAM - New York Stock Exchange
TRP - New York Stock Exchange
Market cap (USD)
$88.3B
$57.6B
Gross margin (TTM)
68.4%
50.7%
Operating margin (TTM)
66.6%
44.4%
Net margin (TTM)
58.3%
28.2%
Sector
Financials
Energy
Industry
Asset Management
Oil & Gas Midstream
HQ country
CA
CA
Primary segment
Credit
U.S. Natural Gas Pipelines
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Weak
Moat score
75 / 100
80 / 100
Moat domains
Demand, Supply
Legal, Demand, Supply
Last update
2026-01-05
2026-01-02

Moat coverage

Shared moat types

Long Term Contracts

Brookfield Asset Management Ltd. strengths

Operational ExcellenceBrand TrustReputation Reviews

TC Energy Corporation strengths

Regulated Standards PipePhysical Network DensityGovernment Contracting Relationships

Segment mix

Brookfield Asset Management Ltd. segments

Full profile >

Renewable Power and Transition

Oligopoly

13.6%

Infrastructure

Oligopoly

25.5%

Real Estate

Oligopoly

20.6%

Private Equity

Oligopoly

10%

Credit

Oligopoly

30.3%

TC Energy Corporation segments

Full profile >

Canadian Natural Gas Pipelines

Quasi-Monopoly

40.7%

U.S. Natural Gas Pipelines

Oligopoly

46.1%

Mexico Natural Gas Pipelines

Oligopoly

6.3%

Power and Energy Solutions

Competitive

6.9%

Want the full wide moat stocks list?

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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.