VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Canadian National Railway Company vs Universal Music Group N.V.

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

Universal Music Group N.V.

UMG · Euronext Amsterdam

Market cap (USD)
SectorCommunication Services
CountryNL
Data as of2025-12-28
Moat score
77/ 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 Universal Music Group N.V.'s moat claims, evidence, and risks.

View UMG analysis

Comparison highlights

  • Moat score gap: Canadian National Railway Company leads (97 / 100 vs 77 / 100 for Universal Music Group N.V.).
  • Segment focus: Canadian National Railway Company has 2 segments (96.2% in Rail freight transportation network); Universal Music Group N.V. has 3 segments (75.2% in Recorded Music).
  • Primary market structure: Duopoly vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Canadian National Railway Company has 4 moat types across 2 domains; Universal Music Group N.V. has 5 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%

Universal Music Group N.V.

Recorded Music

Market

Recorded music rights (labels) and monetization (streaming, physical, licensing/sync)

Geography

Global

Customer

Digital service providers (audio/video/social), physical retailers, and licensing counterparties

Role

Label / master rights holder; artist development, marketing and distribution

Revenue share

75.2%

Side-by-side metrics

Canadian National Railway Company
Universal Music Group N.V.
Ticker / Exchange
CNR - Toronto Stock Exchange
UMG - Euronext Amsterdam
Market cap (USD)
$61.2B
n/a
Sector
Industrials
Communication Services
HQ country
CA
NL
Primary segment
Rail freight transportation network
Recorded Music
Market structure
Duopoly
Oligopoly
Market share
50%-56% (estimated)
31%-33% (estimated)
HHI estimate
4,031
n/a
Pricing power
Moderate
Moderate
Moat score
97 / 100
77 / 100
Moat domains
Legal, Supply
Legal, Supply, Demand
Last update
2025-12-30
2025-12-28

Moat coverage

Shared moat types

Scale Economies Unit Cost

Canadian National Railway Company strengths

Permits Rights Of WayPhysical Network DensityScope Economies

Universal Music Group N.V. strengths

Content Rights CurrencyBrand TrustLong Term ContractsService Field Network

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%

Universal Music Group N.V. segments

Full profile >

Recorded Music

Oligopoly

75.2%

Music Publishing

Oligopoly

17.9%

Merchandising and Other

Competitive

7.1%

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.