VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

CDW Corporation vs The Progressive Corporation

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

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

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 52 / 100 for CDW Corporation).
  • Segment focus: CDW Corporation has 4 segments (42.1% in Corporate); The Progressive Corporation has 2 segments (85% in Personal Lines).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Weak vs Moderate.
  • Moat breadth: CDW Corporation has 6 moat types across 3 domains; The Progressive Corporation has 5 across 2.

Primary market context

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%

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

CDW Corporation
The Progressive Corporation
Ticker / Exchange
CDW - NASDAQ
PGR - New York Stock Exchange
Market cap (USD)
$17.4B
$124.8B
Gross margin (TTM)
21.6%
26.3%
Operating margin (TTM)
7.4%
15.9%
Net margin (TTM)
4.8%
12.6%
Sector
Technology
Financials
Industry
Information Technology Services
Insurance - Property & Casualty
HQ country
US
US
Primary segment
Corporate
Personal Lines
Market structure
Competitive
Oligopoly
Market share
n/a
16.7% (reported)
HHI estimate
n/a
n/a
Pricing power
Weak
Moderate
Moat score
52 / 100
75 / 100
Moat domains
Supply, Demand, Legal
Supply, Demand
Last update
2026-01-06
2026-01-04

Moat coverage

Shared moat types

Service Field NetworkOperational Excellence

CDW Corporation strengths

Scope EconomiesPreferential Input AccessProcurement InertiaGovernment Contracting Relationships

The Progressive Corporation strengths

Learning Curve YieldBrand TrustSuite Bundling

Segment mix

CDW Corporation segments

Full profile >

Corporate

Competitive

42.1%

Small Business

Competitive

7.3%

Public

Competitive

38.8%

Other (UK & Canada)

Competitive

11.8%

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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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.