VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Canadian National Railway Company vs Duolingo, Inc.

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

Canadian National Railway Company

CNR · Toronto Stock Exchange

Market cap (USD)$85.7B
Gross margin (TTM)48.8%
Operating margin (TTM)37.7%
Net margin (TTM)26.9%
SectorIndustrials
IndustryRailroads
CountryCA
Data as of2025-12-30
Moat score
97/ 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 Canadian National Railway Company's moat claims, evidence, and risks.

View CNR analysis

Duolingo, Inc.

DUOL · NASDAQ

Market cap (USD)$8.6B
Gross margin (TTM)72%
Operating margin (TTM)11%
Net margin (TTM)40%
SectorTechnology
IndustrySoftware - Application
CountryUS
Data as of2026-01-06
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 Duolingo, Inc.'s moat claims, evidence, and risks.

View DUOL analysis

Comparison highlights

  • Moat score gap: Canadian National Railway Company leads (97 / 100 vs 68 / 100 for Duolingo, Inc.).
  • Segment focus: Canadian National Railway Company has 2 segments (96.2% in Rail freight transportation network); Duolingo, Inc. has 2 segments (93.9% in Duolingo App).
  • Primary market structure: Duopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Canadian National Railway Company has 4 moat types across 2 domains; Duolingo, Inc. has 6 across 3.

Primary market context

Canadian National Railway Company

Rail freight transportation network

Market

Canadian Class I freight rail transportation

Geography

Canada (with U.S. cross-border corridors)

Customer

Industrial shippers, intermodal customers, and auto supply chains

Role

Line-haul freight railway (Class I)

Revenue share

96.2%

Duolingo, Inc.

Duolingo App

Market

Mobile-first, freemium language learning and adjacent subjects (math, music)

Geography

Global

Customer

Consumers (end-users); advertisers

Role

Digital learning platform / content & software publisher

Revenue share

93.9%

Side-by-side metrics

Canadian National Railway Company
Duolingo, Inc.
Ticker / Exchange
CNR - Toronto Stock Exchange
DUOL - NASDAQ
Market cap (USD)
$85.7B
$8.6B
Gross margin (TTM)
48.8%
72%
Operating margin (TTM)
37.7%
11%
Net margin (TTM)
26.9%
40%
Sector
Industrials
Technology
Industry
Railroads
Software - Application
HQ country
CA
US
Primary segment
Rail freight transportation network
Duolingo App
Market structure
Duopoly
Competitive
Market share
50%-56% (estimated)
n/a
HHI estimate
4,031
n/a
Pricing power
Moderate
Moderate
Moat score
97 / 100
68 / 100
Moat domains
Legal, Supply
Network, Demand, Supply
Last update
2025-12-30
2026-01-06

Moat coverage

Shared moat types

Scope Economies

Canadian National Railway Company strengths

Permits Rights Of WayPhysical Network DensityScale Economies Unit Cost

Duolingo, Inc. strengths

Data Network EffectsHabit DefaultBrand TrustDesign In QualificationOperational Excellence

Segment mix

Canadian National Railway Company segments

Full profile >

Rail freight transportation network

Duopoly

96.2%

Non-rail logistics and ancillary services

Competitive

3.8%

Duolingo, Inc. segments

Full profile >

Duolingo App

Competitive

93.9%

Duolingo English Test

Oligopoly

6.1%

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.

View expansion-stage stocks

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.