VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Caterpillar Inc. vs CDW Corporation

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

Caterpillar Inc.

CAT · New York Stock Exchange

Market cap (USD)$288.6B
Gross margin (TTM)33.9%
Operating margin (TTM)17.7%
Net margin (TTM)14.3%
SectorIndustrials
IndustryAgricultural - Machinery
CountryUS
Data as of2025-12-25
Moat score
68/ 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 Caterpillar Inc.'s moat claims, evidence, and risks.

View CAT analysis

CDW Corporation

CDW · NASDAQ

Market cap (USD)$17.4B
Gross margin (TTM)21.6%
Operating margin (TTM)7.4%
Net margin (TTM)4.8%
SectorTechnology
IndustryInformation Technology Services
CountryUS
Data as of2026-01-06
Moat score
52/ 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 CDW Corporation's moat claims, evidence, and risks.

View CDW analysis

Comparison highlights

  • Moat score gap: Caterpillar Inc. leads (68 / 100 vs 52 / 100 for CDW Corporation).
  • Segment focus: Caterpillar Inc. has 5 segments (40.7% in Energy & Transportation); CDW Corporation has 4 segments (42.1% in Corporate).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Weak.
  • Moat breadth: Caterpillar Inc. has 9 moat types across 4 domains; CDW Corporation has 6 across 3.

Primary market context

Caterpillar Inc.

Energy & Transportation

Market

Off-highway engines, power generation, turbines, locomotives and related services

Geography

Global

Customer

Energy companies, industrial customers, OEMs, rail and marine operators

Role

OEM + aftermarket parts/service

Revenue share

40.7%

CDW Corporation

Corporate

Market

IT solutions provider / value-added reseller (VAR) + services for U.S. private-sector businesses (250+ employees)

Geography

United States

Customer

Private-sector enterprises (mid-market and large)

Role

Value-added reseller / systems integrator

Revenue share

42.1%

Side-by-side metrics

Caterpillar Inc.
CDW Corporation
Ticker / Exchange
CAT - New York Stock Exchange
CDW - NASDAQ
Market cap (USD)
$288.6B
$17.4B
Gross margin (TTM)
33.9%
21.6%
Operating margin (TTM)
17.7%
7.4%
Net margin (TTM)
14.3%
4.8%
Sector
Industrials
Technology
Industry
Agricultural - Machinery
Information Technology Services
HQ country
US
US
Primary segment
Energy & Transportation
Corporate
Market structure
Oligopoly
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Weak
Moat score
68 / 100
52 / 100
Moat domains
Supply, Demand, Financial, Network
Supply, Demand, Legal
Last update
2025-12-25
2026-01-06

Moat coverage

Shared moat types

Service Field Network

Caterpillar Inc. strengths

Distribution ControlInstalled Base ConsumablesBrand TrustCapex Knowhow ScaleDesign In QualificationSuite BundlingUnderwriting Risk PoolingEcosystem Complements

CDW Corporation strengths

Scope EconomiesPreferential Input AccessProcurement InertiaOperational ExcellenceGovernment Contracting Relationships

Segment mix

Caterpillar Inc. segments

Full profile >

Construction Industries

Oligopoly

35.9%

Resource Industries

Oligopoly

17.5%

Energy & Transportation

Oligopoly

40.7%

Financial Products

Competitive

5.3%

All Other

Competitive

0.6%

CDW Corporation segments

Full profile >

Corporate

Competitive

42.1%

Small Business

Competitive

7.3%

Public

Competitive

38.8%

Other (UK & Canada)

Competitive

11.8%

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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Looking for expansion-stage stocks?

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.