VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Deere & Company vs The Progressive Corporation

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

Deere & Company

DE · New York Stock Exchange

Market cap (USD)$126.1B
Gross margin (TTM)36.5%
Operating margin (TTM)18.8%
Net margin (TTM)11.3%
SectorIndustrials
IndustryAgricultural - Machinery
CountryUS
Data as of2025-12-29
Moat score
63/ 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 Deere & Company's moat claims, evidence, and risks.

View DE 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 63 / 100 for Deere & Company).
  • Segment focus: Deere & Company has 4 segments (38.4% in Production & Precision Agriculture); The Progressive Corporation has 2 segments (85% in Personal Lines).
  • Moat breadth: Deere & Company has 5 moat types across 3 domains; The Progressive Corporation has 5 across 2.

Primary market context

Deere & Company

Production & Precision Agriculture

Market

Large-scale agricultural equipment and integrated precision agriculture technology

Geography

Global

Customer

Production-scale growers; dealer/retail channels

Role

OEM + precision ag platform provider

Revenue share

38.4%

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

Deere & Company
The Progressive Corporation
Ticker / Exchange
DE - New York Stock Exchange
PGR - New York Stock Exchange
Market cap (USD)
$126.1B
$124.8B
Gross margin (TTM)
36.5%
26.3%
Operating margin (TTM)
18.8%
15.9%
Net margin (TTM)
11.3%
12.6%
Sector
Industrials
Financials
Industry
Agricultural - Machinery
Insurance - Property & Casualty
HQ country
US
US
Primary segment
Production & Precision Agriculture
Personal Lines
Market structure
Oligopoly
Oligopoly
Market share
n/a
16.7% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
63 / 100
75 / 100
Moat domains
Demand, Supply, Financial
Supply, Demand
Last update
2025-12-29
2026-01-04

Moat coverage

Shared moat types

Service Field NetworkBrand TrustSuite Bundling

Deere & Company strengths

Data Workflow LockinCost Of Capital Advantage

The Progressive Corporation strengths

Learning Curve YieldOperational Excellence

Segment mix

Deere & Company segments

Full profile >

Production & Precision Agriculture

Oligopoly

38.4%

Small Agriculture & Turf

Competitive

22.8%

Construction & Forestry

Oligopoly

25.4%

Financial Services

Competitive

12.7%

The Progressive Corporation segments

Full profile >

Personal Lines

Oligopoly

85%

Commercial Lines

Competitive

15%

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.