VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

CSX Corporation vs Lockheed Martin Corporation

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

Lockheed Martin Corporation

LMT · New York Stock Exchange

Market cap (USD)$115.3B
Gross margin (TTM)8.2%
Operating margin (TTM)8.3%
Net margin (TTM)5.7%
SectorIndustrials
IndustryAerospace & Defense
CountryUS
Data as of2025-12-29
Moat score
81/ 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 Lockheed Martin Corporation's moat claims, evidence, and risks.

View LMT analysis

Comparison highlights

  • Moat score gap: Lockheed Martin Corporation leads (81 / 100 vs 74 / 100 for CSX Corporation).
  • Segment focus: CSX Corporation has 5 segments (61.2% in Merchandise (Rail)); Lockheed Martin Corporation has 4 segments (40.3% in Aeronautics).
  • Moat breadth: CSX Corporation has 6 moat types across 2 domains; Lockheed Martin Corporation has 5 across 3.

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%

Lockheed Martin Corporation

Aeronautics

Market

Military fixed-wing aircraft (fighters and air mobility) plus sustainment and upgrades

Geography

Global (primarily U.S. and allied governments)

Customer

Defense ministries and armed services (direct and via foreign military sales)

Role

Prime contractor / OEM / systems integrator

Revenue share

40.3%

Side-by-side metrics

CSX Corporation
Lockheed Martin Corporation
Ticker / Exchange
CSX - NASDAQ
LMT - New York Stock Exchange
Market cap (USD)
$67.7B
$115.3B
Gross margin (TTM)
n/a
8.2%
Operating margin (TTM)
n/a
8.3%
Net margin (TTM)
n/a
5.7%
Sector
Industrials
Industrials
Industry
Railroads
Aerospace & Defense
HQ country
US
US
Primary segment
Merchandise (Rail)
Aeronautics
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
74 / 100
81 / 100
Moat domains
Supply, Legal
Demand, Supply, Legal
Last update
2026-01-02
2025-12-29

Moat coverage

Shared moat types

No overlap yet.

CSX Corporation strengths

Physical Network DensityPermits Rights Of WayCapex Knowhow ScaleOperational ExcellenceGeographic NaturalScale Economies Unit Cost

Lockheed Martin Corporation strengths

Design In QualificationService Field NetworkGovernment Contracting RelationshipsCapacity MoatCompliance Advantage

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%

Lockheed Martin Corporation segments

Full profile >

Aeronautics

Oligopoly

40.3%

Missiles and Fire Control

Oligopoly

17.9%

Rotary and Mission Systems

Oligopoly

24.3%

Space

Oligopoly

17.6%

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.