VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Salesforce, Inc. vs The Progressive Corporation

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Salesforce, Inc.

CRM · New York Stock Exchange

Market cap (USD)$245B
Gross margin (TTM)77.7%
Operating margin (TTM)20.5%
Net margin (TTM)17.9%
SectorTechnology
IndustrySoftware - Application
CountryUS
Data as of2025-12-22
Moat score
70/ 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 Salesforce, Inc.'s moat claims, evidence, and risks.

View CRM analysis

The Progressive Corporation

PGR · New York Stock Exchange

Market cap (USD)$124.8B
Gross margin (TTM)26.3%
Operating margin (TTM)15.9%
Net margin (TTM)12.6%
SectorFinancials
IndustryInsurance - Property & Casualty
CountryUS
Data as of2026-01-04
Moat score
75/ 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 The Progressive Corporation's moat claims, evidence, and risks.

View PGR analysis

Comparison highlights

  • Moat score gap: The Progressive Corporation leads (75 / 100 vs 70 / 100 for Salesforce, Inc.).
  • Segment focus: Salesforce, Inc. has 3 segments (78.9% in CRM Applications Suite (Sales, Service, Platform, Marketing & Commerce)); The Progressive Corporation has 2 segments (85% in Personal Lines).
  • Moat breadth: Salesforce, Inc. has 6 moat types across 2 domains; The Progressive Corporation has 5 across 2.

Primary market context

Salesforce, Inc.

CRM Applications Suite (Sales, Service, Platform, Marketing & Commerce)

Market

CRM applications (sales, customer service, marketing, digital commerce) delivered as SaaS

Geography

Global

Customer

Business (SMB to enterprise)

Role

SaaS application & platform vendor

Revenue share

78.9%

The Progressive Corporation

Personal Lines

Market

U.S. private passenger auto insurance (dominant) plus specialty personal lines and homeowners/renters (small portion)

Geography

United States

Customer

Individuals/households

Role

Primary insurer (P&C)

Revenue share

85%

Side-by-side metrics

Salesforce, Inc.
The Progressive Corporation
Ticker / Exchange
CRM - New York Stock Exchange
PGR - New York Stock Exchange
Market cap (USD)
$245B
$124.8B
Gross margin (TTM)
77.7%
26.3%
Operating margin (TTM)
20.5%
15.9%
Net margin (TTM)
17.9%
12.6%
Sector
Technology
Financials
Industry
Software - Application
Insurance - Property & Casualty
HQ country
US
US
Primary segment
CRM Applications Suite (Sales, Service, Platform, Marketing & Commerce)
Personal Lines
Market structure
Oligopoly
Oligopoly
Market share
20.7% (reported)
16.7% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
70 / 100
75 / 100
Moat domains
Demand, Network
Supply, Demand
Last update
2025-12-22
2026-01-04

Moat coverage

Shared moat types

Suite Bundling

Salesforce, Inc. strengths

Data Workflow LockinEcosystem ComplementsLong Term ContractsInteroperability HubTraining Org Change Costs

The Progressive Corporation strengths

Learning Curve YieldBrand TrustService Field NetworkOperational Excellence

Segment mix

Salesforce, Inc. segments

Full profile >

CRM Applications Suite (Sales, Service, Platform, Marketing & Commerce)

Oligopoly

78.9%

Integration & Analytics (MuleSoft, Tableau, related subscriptions)

Competitive

15.2%

Professional Services & Other

Competitive

5.8%

The Progressive Corporation segments

Full profile >

Personal Lines

Oligopoly

85%

Commercial Lines

Competitive

15%

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.

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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.