VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Eaton Corporation plc vs The Progressive Corporation

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

Eaton Corporation plc

ETN · New York Stock Exchange

Market cap (USD)$125.2B
Gross margin (TTM)38.1%
Operating margin (TTM)19.4%
Net margin (TTM)14.7%
SectorIndustrials
IndustryIndustrial - Machinery
CountryIE
Data as of2025-12-31
Moat score
66/ 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 Eaton Corporation plc's moat claims, evidence, and risks.

View ETN 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 66 / 100 for Eaton Corporation plc).
  • Segment focus: Eaton Corporation plc has 5 segments (46% in Electrical Americas); The Progressive Corporation has 2 segments (85% in Personal Lines).
  • Moat breadth: Eaton Corporation plc has 7 moat types across 3 domains; The Progressive Corporation has 5 across 2.

Primary market context

Eaton Corporation plc

Electrical Americas

Market

Electrical components, power distribution systems/assemblies, and related services (Americas)

Geography

North and South America

Customer

Industrial, commercial/institutional, utilities, residential, and IT/data center customers (end users and channel partners)

Role

Manufacturer + systems/assembly provider + service provider

Revenue share

46%

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

Eaton Corporation plc
The Progressive Corporation
Ticker / Exchange
ETN - New York Stock Exchange
PGR - New York Stock Exchange
Market cap (USD)
$125.2B
$124.8B
Gross margin (TTM)
38.1%
26.3%
Operating margin (TTM)
19.4%
15.9%
Net margin (TTM)
14.7%
12.6%
Sector
Industrials
Financials
Industry
Industrial - Machinery
Insurance - Property & Casualty
HQ country
IE
US
Primary segment
Electrical Americas
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
66 / 100
75 / 100
Moat domains
Supply, Demand, Legal
Supply, Demand
Last update
2025-12-31
2026-01-04

Moat coverage

Shared moat types

Service Field Network

Eaton Corporation plc strengths

Distribution ControlScope EconomiesDesign In QualificationCompliance AdvantageInstalled Base ConsumablesLong Term Contracts

The Progressive Corporation strengths

Learning Curve YieldBrand TrustSuite BundlingOperational Excellence

Segment mix

Eaton Corporation plc segments

Full profile >

Electrical Americas

Oligopoly

46%

Electrical Global

Oligopoly

25.1%

Aerospace

Oligopoly

15%

Vehicle

Competitive

11.2%

eMobility

Competitive

2.7%

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.