WIDE MOAT STOCKS COMPARISON

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Stock Comparison

Canadian National Railway Company vs Norfolk Southern Corporation

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)$72.2B
Gross margin (TTM)—
Operating margin (TTM)37.5%
Net margin (TTM)26.9%
SectorIndustrials
IndustryTransport and logistics
CountryCA
Data as of2026-08-23
96/100
Moat score

Weighted across the company's segments.

Full stock profile

Dive deeper into Canadian National Railway Company's moat claims, evidence, and risks.

View CNR analysis

Norfolk Southern Corporation

NSC · New York Stock Exchange

Market cap (USD)$74B
Gross margin (TTM)53.7%
Operating margin (TTM)31.6%
Net margin (TTM)21%
SectorIndustrials
IndustryTransport and logistics
CountryUS
Data as of2026-08-23
77/100
Moat score

Weighted across the company's segments.

Full stock profile

Dive deeper into Norfolk Southern Corporation's moat claims, evidence, and risks.

View NSC analysis

Comparison highlights

  • Moat score gap: Canadian National Railway Company leads (96 / 100 vs 77 / 100 for Norfolk Southern Corporation).
  • Segment focus: Canadian National Railway Company has 2 segments (96.4% in Rail freight transportation network); Norfolk Southern Corporation has 3 segments (61.6% in Merchandise).
  • Primary market structure: Duopoly vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Canadian National Railway Company has 3 moat types across 2 domains; Norfolk Southern Corporation has 1 across 1.

Primary market context

Canadian National Railway Company

Rail freight transportation network

Market

Canadian Class I freight rail with U.S. Midwest and Gulf extensions

Geography

Canada and U.S. cross-border corridors, with 18,900 route-miles at June 30, 2026

Customer

Industrial shippers, intermodal customers, and auto supply chains

Role

Line-haul freight railway (Class I)

Revenue share

96.4%

Norfolk Southern Corporation

Merchandise

Market

Eastern U.S. freight rail transportation for industrial & consumer goods

Geography

United States (Southeast/East/Midwest; NS network + interchanges)

Customer

Manufacturers, producers, and distributors

Role

Rail carrier

Revenue share

61.6%

Side-by-side metrics

Canadian National Railway Company
Norfolk Southern Corporation
Ticker / Exchange
CNR - Toronto Stock Exchange
NSC - New York Stock Exchange
Market cap (USD)
$72.2B
$74B
Gross margin (TTM)
n/a
53.7%
Operating margin (TTM)
37.5%
31.6%
Net margin (TTM)
26.9%
21%
Sector
Industrials
Industrials
Industry
Transport and logistics
Transport and logistics
HQ country
CA
US
Primary segment
Rail freight transportation network
Merchandise
Market structure
Duopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
96 / 100
77 / 100
Moat domains
Legal, Supply
Supply
Last update
2026-09-05
2026-09-05

Moat coverage

Shared moat types

Physical Network Density

Canadian National Railway Company strengths

Permits Rights Of WayScale Economies Unit Cost

Norfolk Southern Corporation strengths

No unique moat types yet.

Segment mix

Canadian National Railway Company segments

Full profile >

Rail freight transportation network

Duopoly

96.4%

Non-rail logistics and ancillary services

Competitive

3.6%

Norfolk Southern Corporation segments

Full profile >

Merchandise

Oligopoly

61.6%

Intermodal

Oligopoly

26.2%

Coal

Oligopoly

12.2%

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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.