VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Canadian National Railway Company vs Tyler Technologies, 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

Tyler Technologies, Inc.

TYL · New York Stock Exchange

Market cap (USD)$19.9B
SectorTechnology
CountryUS
Data as of2025-12-26
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 Tyler Technologies, Inc.'s moat claims, evidence, and risks.

View TYL analysis

Comparison highlights

  • Moat score gap: Canadian National Railway Company leads (97 / 100 vs 66 / 100 for Tyler Technologies, Inc.).
  • Segment focus: Canadian National Railway Company has 2 segments (96.2% in Rail freight transportation network); Tyler Technologies, Inc. has 2 segments (70.7% in Enterprise Software).
  • Primary market structure: Duopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Canadian National Railway Company has 4 moat types across 2 domains; Tyler Technologies, Inc. has 7 across 2.

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%

Tyler Technologies, Inc.

Enterprise Software

Market

Public sector enterprise application software for mission-critical back-office functions (ERP/public administration, courts & justice, public safety, education, property & recording)

Geography

Primarily United States; also Canada and other international locations

Customer

Government agencies and other public entities (state/local/federal), school districts

Role

Vertical software vendor + implementation/services

Revenue share

70.7%

Side-by-side metrics

Canadian National Railway Company
Tyler Technologies, Inc.
Ticker / Exchange
CNR - Toronto Stock Exchange
TYL - New York Stock Exchange
Market cap (USD)
$61.2B
$19.9B
Sector
Industrials
Technology
HQ country
CA
US
Primary segment
Rail freight transportation network
Enterprise Software
Market structure
Duopoly
Competitive
Market share
50%-56% (estimated)
5%-7% (reported)
HHI estimate
4,031
n/a
Pricing power
Moderate
Moderate
Moat score
97 / 100
66 / 100
Moat domains
Legal, Supply
Demand, Supply
Last update
2025-12-30
2025-12-26

Moat coverage

Shared moat types

Scale Economies Unit Cost

Canadian National Railway Company strengths

Permits Rights Of WayPhysical Network DensityScope Economies

Tyler Technologies, Inc. strengths

Training Org Change CostsProcurement InertiaSuite BundlingLong Term ContractsData Workflow LockinBrand Trust

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%

Tyler Technologies, Inc. segments

Full profile >

Enterprise Software

Competitive

70.7%

Platform Technologies

Competitive

29%

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.