VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

CSX Corporation vs The Hershey Company

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

CSX Corporation

CSX · NASDAQ

Market cap (USD)$67.7B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorIndustrials
IndustryRailroads
CountryUS
Data as of2026-01-02
Moat score
74/ 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 CSX Corporation's moat claims, evidence, and risks.

View CSX analysis

The Hershey Company

HSY · New York Stock Exchange

Market cap (USD)$37.2B
Gross margin (TTM)37.5%
Operating margin (TTM)16.6%
Net margin (TTM)11.8%
SectorConsumer
IndustryFood Confectioners
CountryUS
Data as of2025-12-26
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 Hershey Company's moat claims, evidence, and risks.

View HSY analysis

Comparison highlights

  • Moat score gap: The Hershey Company leads (75 / 100 vs 74 / 100 for CSX Corporation).
  • Segment focus: CSX Corporation has 5 segments (61.2% in Merchandise (Rail)); The Hershey Company has 3 segments (81.4% in North America Confectionery).
  • Moat breadth: CSX Corporation has 6 moat types across 2 domains; The Hershey Company has 4 across 2.

Primary market context

CSX Corporation

Merchandise (Rail)

Market

Eastern U.S. rail freight transportation (merchandise carload)

Geography

Eastern United States (CSX network; interchange to other railroads)

Customer

Industrial, agricultural, automotive and consumer goods shippers; logistics providers

Role

Common-carrier freight railroad (line-haul + switching/terminal)

Revenue share

61.2%

The Hershey Company

North America Confectionery

Market

Branded chocolate and non-chocolate confectionery

Geography

United States and Canada

Customer

Retail consumers via grocery, mass, club and convenience

Role

Branded manufacturer and marketer

Revenue share

81.4%

Side-by-side metrics

CSX Corporation
The Hershey Company
Ticker / Exchange
CSX - NASDAQ
HSY - New York Stock Exchange
Market cap (USD)
$67.7B
$37.2B
Gross margin (TTM)
n/a
37.5%
Operating margin (TTM)
n/a
16.6%
Net margin (TTM)
n/a
11.8%
Sector
Industrials
Consumer
Industry
Railroads
Food Confectioners
HQ country
US
US
Primary segment
Merchandise (Rail)
North America Confectionery
Market structure
Oligopoly
Oligopoly
Market share
n/a
34%-38% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
74 / 100
75 / 100
Moat domains
Supply, Legal
Demand, Supply
Last update
2026-01-02
2025-12-26

Moat coverage

Shared moat types

Operational Excellence

CSX Corporation strengths

Physical Network DensityPermits Rights Of WayCapex Knowhow ScaleGeographic NaturalScale Economies Unit Cost

The Hershey Company strengths

Brand TrustDistribution ControlScope Economies

Segment mix

CSX Corporation segments

Full profile >

Merchandise (Rail)

Oligopoly

61.2%

Intermodal (Rail)

Competitive

14.1%

Coal (Rail)

Oligopoly

15.5%

Trucking (Quality Carriers)

Competitive

5.8%

Other Revenue (Rail/Ancillary)

Competitive

3.4%

The Hershey Company segments

Full profile >

North America Confectionery

Oligopoly

81.4%

North America Salty Snacks

Oligopoly

10.1%

International

Competitive

8.5%

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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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.