VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Canadian National Railway Company vs KKR & Co. 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

KKR & Co. Inc.

KKR · New York Stock Exchange

Market cap (USD)$119.9B
Gross margin (TTM)19.5%
Operating margin (TTM)2.6%
Net margin (TTM)14.1%
SectorFinancials
IndustryAsset Management
CountryUS
Data as of2026-01-06
Moat score
67/ 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 KKR & Co. Inc.'s moat claims, evidence, and risks.

View KKR analysis

Comparison highlights

  • Moat score gap: Canadian National Railway Company leads (97 / 100 vs 67 / 100 for KKR & Co. Inc.).
  • Segment focus: Canadian National Railway Company has 2 segments (96.2% in Rail freight transportation network); KKR & Co. Inc. has 3 segments (52.3% in Asset Management).
  • Primary market structure: Duopoly vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Canadian National Railway Company has 4 moat types across 2 domains; KKR & Co. Inc. has 7 across 4.

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%

KKR & Co. Inc.

Asset Management

Market

Alternative asset management (private equity, private credit, real assets, and related strategies)

Geography

Global

Customer

Institutional and wealth investors (LPs) allocating to private markets

Role

General partner / investment manager

Revenue share

52.3%

Side-by-side metrics

Canadian National Railway Company
KKR & Co. Inc.
Ticker / Exchange
CNR - Toronto Stock Exchange
KKR - New York Stock Exchange
Market cap (USD)
$85.7B
$119.9B
Gross margin (TTM)
48.8%
19.5%
Operating margin (TTM)
37.7%
2.6%
Net margin (TTM)
26.9%
14.1%
Sector
Industrials
Financials
Industry
Railroads
Asset Management
HQ country
CA
US
Primary segment
Rail freight transportation network
Asset Management
Market structure
Duopoly
Oligopoly
Market share
50%-56% (estimated)
3.5%-5% (implied)
HHI estimate
4,031
n/a
Pricing power
Moderate
Moderate
Moat score
97 / 100
67 / 100
Moat domains
Legal, Supply
Demand, Supply, Financial, Legal
Last update
2025-12-30
2026-01-06

Moat coverage

Shared moat types

Scale Economies Unit Cost

Canadian National Railway Company strengths

Permits Rights Of WayPhysical Network DensityScope Economies

KKR & Co. Inc. strengths

Long Term ContractsBrand TrustDeal sourcing and origination relationshipsFloat PrepaymentCompliance AdvantageCapital markets and exit execution capability

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%

KKR & Co. Inc. segments

Full profile >

Asset Management

Oligopoly

52.3%

Insurance

Competitive

46.5%

Strategic Holdings

Competitive

1.2%

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.