VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 1, 2026

Stock Comparison

Canadian National Railway Company vs Illinois Tool Works 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)$61.2B
SectorIndustrials
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

Illinois Tool Works Inc.

ITW · New York Stock Exchange

Market cap (USD)
SectorIndustrials
CountryUS
Data as of2025-12-31
Moat score
66/ 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 Illinois Tool Works Inc.'s moat claims, evidence, and risks.

View ITW analysis

Comparison highlights

  • Moat score gap: Canadian National Railway Company leads (97 / 100 vs 66 / 100 for Illinois Tool Works Inc.).
  • Segment focus: Canadian National Railway Company has 2 segments (96.2% in Rail freight transportation network); Illinois Tool Works Inc. has 7 segments (20% in Automotive OEM).
  • Primary market structure: Duopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Canadian National Railway Company has 4 moat types across 2 domains; Illinois Tool Works Inc. has 8 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%

Illinois Tool Works Inc.

Automotive OEM

Market

Automotive OEM engineered components and fasteners

Geography

Global

Customer

Automotive OEMs and Tier suppliers

Role

Component supplier

Revenue share

20%

Side-by-side metrics

Canadian National Railway Company
Illinois Tool Works Inc.
Ticker / Exchange
CNR - Toronto Stock Exchange
ITW - New York Stock Exchange
Market cap (USD)
$61.2B
n/a
Sector
Industrials
Industrials
HQ country
CA
US
Primary segment
Rail freight transportation network
Automotive OEM
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
66 / 100
Moat domains
Legal, Supply
Demand, Supply, Legal
Last update
2025-12-30
2025-12-31

Moat coverage

Shared moat types

No overlap yet.

Canadian National Railway Company strengths

Permits Rights Of WayPhysical Network DensityScale Economies Unit CostScope Economies

Illinois Tool Works Inc. strengths

Design In QualificationOperational ExcellenceBrand TrustService Field NetworkInstalled Base ConsumablesSwitching Costs GeneralFormulation and application engineering know-howIP Choke Point

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%

Illinois Tool Works Inc. segments

Full profile >

Automotive OEM

Competitive

20%

Food Equipment

Oligopoly

16.6%

Test & Measurement and Electronics

Oligopoly

17.7%

Welding

Oligopoly

11.6%

Polymers & Fluids

Competitive

11.1%

Construction Products

Competitive

12%

Specialty Products

Oligopoly

10.9%

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.