VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Elevance Health, Inc. vs Transurban Group

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

Elevance Health, Inc.

ELV · New York Stock Exchange

Market cap (USD)$82.8B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorHealthcare
IndustryMedical - Healthcare Plans
CountryUS
Data as of2026-01-09
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 Elevance Health, Inc.'s moat claims, evidence, and risks.

View ELV analysis

Transurban Group

TCL · Australian Securities Exchange

Market cap (USD)$43.3B
Gross margin (TTM)43.4%
Operating margin (TTM)39.4%
Net margin (TTM)5.8%
SectorIndustrials
IndustryIndustrial - Infrastructure Operations
CountryAU
Data as of2026-01-04
Moat score
91/ 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 Transurban Group's moat claims, evidence, and risks.

View TCL analysis

Comparison highlights

  • Moat score gap: Transurban Group leads (91 / 100 vs 74 / 100 for Elevance Health, Inc.).
  • Segment focus: Elevance Health, Inc. has 3 segments (85.2% in Health Benefits); Transurban Group has 4 segments (49.5% in Sydney toll roads).
  • Primary market structure: Oligopoly vs Quasi-Monopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Elevance Health, Inc. has 8 moat types across 3 domains; Transurban Group has 3 across 3.

Primary market context

Elevance Health, Inc.

Health Benefits

Market

U.S. health insurance and managed care

Geography

United States

Customer

Employers, individuals, and government programs

Role

Payer / managed care organization

Revenue share

85.2%

Transurban Group

Sydney toll roads

Market

Urban toll-road concessions (Sydney)

Geography

Sydney, New South Wales, Australia

Customer

Motorists and commercial fleet operators

Role

Concessionaire / operator and developer

Revenue share

49.5%

Side-by-side metrics

Elevance Health, Inc.
Transurban Group
Ticker / Exchange
ELV - New York Stock Exchange
TCL - Australian Securities Exchange
Market cap (USD)
$82.8B
$43.3B
Gross margin (TTM)
n/a
43.4%
Operating margin (TTM)
n/a
39.4%
Net margin (TTM)
n/a
5.8%
Sector
Healthcare
Industrials
Industry
Medical - Healthcare Plans
Industrial - Infrastructure Operations
HQ country
US
AU
Primary segment
Health Benefits
Sydney toll roads
Market structure
Oligopoly
Quasi-Monopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
74 / 100
91 / 100
Moat domains
Legal, Demand, Supply
Legal, Financial, Demand
Last update
2026-01-09
2026-01-04

Moat coverage

Shared moat types

Concession License

Elevance Health, Inc. strengths

Brand TrustScale Economies Unit CostGovernment Contracting RelationshipsData Workflow LockinSuite BundlingScope EconomiesSwitching Costs General

Transurban Group strengths

Benchmark Pricing PowerDynamic congestion pricing

Segment mix

Elevance Health, Inc. segments

Full profile >

Health Benefits

Oligopoly

85.2%

CarelonRx

Oligopoly

12.8%

Carelon Services

Competitive

1.9%

Transurban Group segments

Full profile >

Sydney toll roads

Quasi-Monopoly

49.5%

Melbourne toll roads

Quasi-Monopoly

26.5%

Brisbane toll roads

Quasi-Monopoly

16%

North America managed lanes and concessions

Quasi-Monopoly

8.1%

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.