VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Edwards Lifesciences Corporation vs The Progressive Corporation

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

Edwards Lifesciences Corporation

EW · New York Stock Exchange

Market cap (USD)$49.4B
Gross margin (TTM)78.3%
Operating margin (TTM)26.6%
Net margin (TTM)23.2%
SectorHealthcare
IndustryMedical - Devices
CountryUS
Data as of2025-12-31
Moat score
82/ 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 Edwards Lifesciences Corporation's moat claims, evidence, and risks.

View EW 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: Edwards Lifesciences Corporation leads (82 / 100 vs 75 / 100 for The Progressive Corporation).
  • Segment focus: Edwards Lifesciences Corporation has 3 segments (75.5% in Transcatheter Aortic Valve Replacement (TAVR)); The Progressive Corporation has 2 segments (85% in Personal Lines).
  • Moat breadth: Edwards Lifesciences Corporation has 6 moat types across 3 domains; The Progressive Corporation has 5 across 2.

Primary market context

Edwards Lifesciences Corporation

Transcatheter Aortic Valve Replacement (TAVR)

Market

Transcatheter aortic valve replacement (TAVR) devices

Geography

Global

Customer

Hospitals and structural heart centers

Role

Medical device manufacturer

Revenue share

75.5%

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

Edwards Lifesciences Corporation
The Progressive Corporation
Ticker / Exchange
EW - New York Stock Exchange
PGR - New York Stock Exchange
Market cap (USD)
$49.4B
$124.8B
Gross margin (TTM)
78.3%
26.3%
Operating margin (TTM)
26.6%
15.9%
Net margin (TTM)
23.2%
12.6%
Sector
Healthcare
Financials
Industry
Medical - Devices
Insurance - Property & Casualty
HQ country
US
US
Primary segment
Transcatheter Aortic Valve Replacement (TAVR)
Personal Lines
Market structure
Oligopoly
Oligopoly
Market share
60%-73% (estimated)
16.7% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
82 / 100
75 / 100
Moat domains
Demand, Legal, Supply
Supply, Demand
Last update
2025-12-31
2026-01-04

Moat coverage

Shared moat types

Brand Trust

Edwards Lifesciences Corporation strengths

Training Org Change CostsRegulated Standards PipeIP Choke PointCompliance AdvantageSupply Chain Control

The Progressive Corporation strengths

Learning Curve YieldService Field NetworkSuite BundlingOperational Excellence

Segment mix

Edwards Lifesciences Corporation segments

Full profile >

Transcatheter Aortic Valve Replacement (TAVR)

Oligopoly

75.5%

Transcatheter Mitral and Tricuspid Therapies (TMTT)

Competitive

6.5%

Surgical Structural Heart

Oligopoly

18%

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.