VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Elevance Health, Inc. vs Union Pacific Corporation

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

Union Pacific Corporation

UNP · New York Stock Exchange

Market cap (USD)$135.5B
Gross margin (TTM)45.9%
Operating margin (TTM)40.6%
Net margin (TTM)28.7%
SectorIndustrials
IndustryRailroads
CountryUS
Data as of2025-12-30
Moat score
72/ 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 Union Pacific Corporation's moat claims, evidence, and risks.

View UNP analysis

Comparison highlights

  • Moat score gap: Elevance Health, Inc. leads (74 / 100 vs 72 / 100 for Union Pacific Corporation).
  • Segment focus: Elevance Health, Inc. has 3 segments (85.2% in Health Benefits); Union Pacific Corporation has 4 segments (34.8% in Industrial).
  • Moat breadth: Elevance Health, Inc. has 8 moat types across 3 domains; Union Pacific Corporation has 5 across 2.

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%

Union Pacific Corporation

Industrial

Market

Rail freight transportation for industrial commodities (chemicals and plastics, metals and minerals, forest products, energy and specialized markets)

Geography

U.S. western two-thirds with interchange to other railroads; cross-border corridors to Mexico and Canada

Customer

Chemical producers, refiners, plastics manufacturers, construction and material suppliers, metals and mining, industrial shippers

Role

Class I rail carrier / linehaul freight transport

Revenue share

34.8%

Side-by-side metrics

Elevance Health, Inc.
Union Pacific Corporation
Ticker / Exchange
ELV - New York Stock Exchange
UNP - New York Stock Exchange
Market cap (USD)
$82.8B
$135.5B
Gross margin (TTM)
n/a
45.9%
Operating margin (TTM)
n/a
40.6%
Net margin (TTM)
n/a
28.7%
Sector
Healthcare
Industrials
Industry
Medical - Healthcare Plans
Railroads
HQ country
US
US
Primary segment
Health Benefits
Industrial
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
74 / 100
72 / 100
Moat domains
Legal, Demand, Supply
Legal, Supply
Last update
2026-01-09
2025-12-30

Moat coverage

Shared moat types

Scale Economies Unit CostScope Economies

Elevance Health, Inc. strengths

Concession LicenseBrand TrustGovernment Contracting RelationshipsData Workflow LockinSuite BundlingSwitching Costs General

Union Pacific Corporation strengths

Permits Rights Of WayPhysical Network DensityOperational Excellence

Segment mix

Elevance Health, Inc. segments

Full profile >

Health Benefits

Oligopoly

85.2%

CarelonRx

Oligopoly

12.8%

Carelon Services

Competitive

1.9%

Union Pacific Corporation segments

Full profile >

Bulk

Oligopoly

29.7%

Industrial

Oligopoly

34.8%

Premium

Oligopoly

29.5%

Other subsidiary, accessorial and other revenues

Competitive

5.9%

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.