VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

CSX Corporation vs Morningstar, Inc.

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

CSX Corporation

CSX · NASDAQ

Market cap (USD)$65.5B
Gross margin (TTM)36.6%
Operating margin (TTM)30.7%
Net margin (TTM)19.2%
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

Morningstar, Inc.

MORN · NASDAQ

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
Industry
CountryUS
Data as of2026-01-10
Moat score
67/ 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 Morningstar, Inc.'s moat claims, evidence, and risks.

View MORN analysis

Comparison highlights

  • Moat score gap: CSX Corporation leads (74 / 100 vs 67 / 100 for Morningstar, Inc.).
  • Segment focus: CSX Corporation has 5 segments (61.2% in Merchandise (Rail)); Morningstar, Inc. has 7 segments (34.6% in Morningstar Data and Analytics).
  • Moat breadth: CSX Corporation has 6 moat types across 2 domains; Morningstar, Inc. has 6 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%

Morningstar, Inc.

Morningstar Data and Analytics

Market

Investment data, research, and analytics platforms

Geography

Global

Revenue share

34.6%

Side-by-side metrics

CSX Corporation
Morningstar, Inc.
Ticker / Exchange
CSX - NASDAQ
MORN - NASDAQ
Market cap (USD)
$65.5B
n/a
Gross margin (TTM)
36.6%
n/a
Operating margin (TTM)
30.7%
n/a
Net margin (TTM)
19.2%
n/a
Sector
Industrials
Financials
Industry
Railroads
n/a
HQ country
US
US
Primary segment
Merchandise (Rail)
Morningstar Data and Analytics
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
74 / 100
67 / 100
Moat domains
Supply, Legal
Demand, Network, Legal
Last update
2026-01-02
2026-01-10

Moat coverage

Shared moat types

No overlap yet.

CSX Corporation strengths

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

Morningstar, Inc. strengths

Data Workflow LockinDe Facto StandardRegulated Standards PipeSuite BundlingTraining Org Change CostsIP Choke Point

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%

Morningstar, Inc. segments

Full profile >

Morningstar Data and Analytics

Oligopoly

34.6%

PitchBook

Oligopoly

27.2%

Morningstar Credit

Oligopoly

12.8%

Morningstar Wealth

Competitive

10.9%

Morningstar Retirement

Competitive

5.6%

Morningstar Sustainalytics

Oligopoly

5.2%

Morningstar Indexes

Oligopoly

3.7%

Want the full wide moat stocks list?

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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.