VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Saturday, January 3, 2026

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Stock Comparison

Berkshire Hathaway Inc. vs Constellation Software Inc.

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

Berkshire Hathaway Inc.

BRK.B · New York Stock Exchange

Market cap (USD)—

Gross margin (TTM)28.7%

Operating margin (TTM)15.8%

Net margin (TTM)17.8%

SectorFinancials

Industry—

CountryUS

Data as of2025-12-30

Moat score

64/ 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 Berkshire Hathaway Inc.'s moat claims, evidence, and risks.

View BRK.B analysis

Constellation Software Inc.

CSU · Toronto Stock Exchange

Market cap (USD)—

Gross margin (TTM)—

Operating margin (TTM)—

Net margin (TTM)—

SectorTechnology

Industry—

CountryCA

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 Constellation Software Inc.'s moat claims, evidence, and risks.

View CSU analysis

Comparison highlights

Moat score gap: Constellation Software Inc. leads (74 / 100 vs 64 / 100 for Berkshire Hathaway Inc.).
Segment focus: Berkshire Hathaway Inc. has 11 segments (28.3% in Insurance (underwriting + investment income)); Constellation Software Inc. has 6 segments.
Primary market structure: Competitive vs Competitive. Pricing power: n/a vs Moderate.
Moat breadth: Berkshire Hathaway Inc. has 17 moat types across 4 domains; Constellation Software Inc. has 3 across 2.

Primary market context

Berkshire Hathaway Inc.

Insurance (underwriting + investment income)

Market

Insurance and reinsurance (property and casualty + life/health), including float-funded investing

Geography

Global

Customer

Consumers and businesses (policyholders) and insurers (reinsurance cedents)

Role

Underwriter and reinsurer plus investment manager of float

Revenue share

28.3%

Constellation Software Inc.

Volaris Operating Group

Market

Vertical market software (VMS) portfolios across diverse industries (Volaris)

Geography

Global (North America, Continental Europe, UK, Australia, South America, Africa)

Customer

Organizations in specific verticals (mix of public and private sector)

Role

Vertical market software vendor (application provider + long-term maintainer)

Side-by-side metrics

Berkshire Hathaway Inc.

Constellation Software Inc.

Ticker / Exchange

BRK.B - New York Stock Exchange

CSU - Toronto Stock Exchange

Market cap (USD)

n/a

Gross margin (TTM)

28.7%

n/a

Operating margin (TTM)

15.8%

n/a

Net margin (TTM)

17.8%

n/a

Sector

Financials

Technology

Industry

n/a

HQ country

Primary segment

Insurance (underwriting + investment income)

Volaris Operating Group

Market structure

Competitive

Market share

n/a

HHI estimate

n/a

Pricing power

n/a

Moderate

Moat score

64 / 100

74 / 100

Moat domains

Financial, Supply, Demand, Legal

Demand, Supply

Last update

2025-12-30

2026-01-02

Moat coverage

Shared moat types

No overlap yet.

Berkshire Hathaway Inc. strengths

Float PrepaymentCapacity MoatBrand TrustPhysical Network DensityLong Term ContractsConcession LicensePermits Rights Of WayDesign In QualificationCapex Knowhow ScaleIP Choke PointScale Economies Unit CostDistribution ControlTraining Org Change CostsPreferential Input AccessService Field NetworkScope EconomiesCost Of Capital Advantage

Constellation Software Inc. strengths

Switching Costs GeneralInstalled Base ConsumablesOperational Excellence

Segment mix

Berkshire Hathaway Inc. segments

Full profile >

Insurance (underwriting + investment income)

Competitive

28.3%

BNSF Railway (freight rail transportation)

Oligopoly

6.4%

Berkshire Hathaway Energy (regulated utilities, pipelines, renewables)

Monopoly

7.1%

Industrial products manufacturing (PCC, Lubrizol, IMC, Marmon, etc.)

Oligopoly

9.7%

Building products & housing (Clayton Homes, Shaw, Johns Manville, Benjamin Moore, etc.)

Competitive

7.2%

Consumer products manufacturing (Duracell, Forest River, apparel/footwear, toys, etc.)

Competitive

Service businesses (FlightSafety, NetJets, TTI, Dairy Queen, etc.)

Competitive

5.6%

Retailing businesses (Berkshire Hathaway Automotive, home furnishings, jewelry, See's, etc.)

Competitive

5.2%

Pilot Travel Centers (travel centers + wholesale fuel marketing)

Oligopoly

12.6%

McLane (wholesale distribution to convenience stores and restaurants)

Oligopoly

14%

Holding company capital allocation and investing

Competitive

n/a

Constellation Software Inc. segments

Full profile >

Volaris Operating Group

Competitive

n/a

Harris Operating Group

Competitive

n/a

Topicus.com Operating Group

Competitive

n/a

Jonas Operating Group

Competitive

n/a

Perseus Operating Group

Competitive

n/a

Vela Operating Group

Competitive

n/a

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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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.