VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Ecolab Inc. vs The Progressive Corporation

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

Ecolab Inc.

ECL · New York Stock Exchange

Market cap (USD)$74.6B
Gross margin (TTM)44.3%
Operating margin (TTM)17.3%
Net margin (TTM)12.5%
SectorMaterials
IndustryChemicals - Specialty
CountryUS
Data as of2026-01-01
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 Ecolab Inc.'s moat claims, evidence, and risks.

View ECL 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 Ecolab Inc.).
  • Segment focus: Ecolab Inc. has 4 segments (49.5% in Global Industrial); The Progressive Corporation has 2 segments (85% in Personal Lines).
  • Moat breadth: Ecolab Inc. has 7 moat types across 3 domains; The Progressive Corporation has 5 across 2.

Primary market context

Ecolab Inc.

Global Industrial

Market

Industrial water treatment & process chemistry (incl. food & beverage processing and pulp & paper process aids)

Geography

Global

Customer

B2B

Role

formulator + on-site service/optimization provider

Revenue share

49.5%

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

Ecolab Inc.
The Progressive Corporation
Ticker / Exchange
ECL - New York Stock Exchange
PGR - New York Stock Exchange
Market cap (USD)
$74.6B
$124.8B
Gross margin (TTM)
44.3%
26.3%
Operating margin (TTM)
17.3%
15.9%
Net margin (TTM)
12.5%
12.6%
Sector
Materials
Financials
Industry
Chemicals - Specialty
Insurance - Property & Casualty
HQ country
US
US
Primary segment
Global Industrial
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
Supply, Demand, Legal
Supply, Demand
Last update
2026-01-01
2026-01-04

Moat coverage

Shared moat types

Service Field NetworkBrand Trust

Ecolab Inc. strengths

Data Workflow LockinCompliance AdvantageInstalled Base ConsumablesLong Term ContractsTraining Org Change Costs

The Progressive Corporation strengths

Learning Curve YieldSuite BundlingOperational Excellence

Segment mix

Ecolab Inc. segments

Full profile >

Global Industrial

Oligopoly

49.5%

Global Institutional & Specialty

Oligopoly

34.1%

Global Healthcare & Life Sciences

Oligopoly

9%

Global Pest Elimination

Oligopoly

7.4%

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.