VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Fastenal Company vs Transurban Group

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

Fastenal Company

FAST · NASDAQ

Market cap (USD)$46.9B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorIndustrials
Industry
CountryUS
Data as of2026-01-06
Moat score
57/ 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 Fastenal Company's moat claims, evidence, and risks.

View FAST analysis

Transurban Group

TCL · Australian Securities Exchange

Market cap (USD)$42.6B
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 57 / 100 for Fastenal Company).
  • Segment focus: Fastenal Company has 2 segments (55.7% in Core industrial & construction supplies distribution (branches, Onsite, eBusiness excl. FMI)); Transurban Group has 4 segments (49.5% in Sydney toll roads).
  • Primary market structure: Competitive vs Quasi-Monopoly. Pricing power: Weak vs Moderate.
  • Moat breadth: Fastenal Company has 4 moat types across 2 domains; Transurban Group has 3 across 3.

Primary market context

Fastenal Company

Core industrial & construction supplies distribution (branches, Onsite, eBusiness excl. FMI)

Market

Wholesale distribution of industrial and construction supplies (fasteners, safety, tools, and other MRO/OEM consumables)

Geography

Primarily North America (with growing international presence)

Customer

Manufacturing (OEM and MRO), non-residential construction, and other commercial customers

Role

Distributor

Revenue share

55.7%

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

Fastenal Company
Transurban Group
Ticker / Exchange
FAST - NASDAQ
TCL - Australian Securities Exchange
Market cap (USD)
$46.9B
$42.6B
Gross margin (TTM)
n/a
43.4%
Operating margin (TTM)
n/a
39.4%
Net margin (TTM)
n/a
5.8%
Sector
Industrials
Industrials
Industry
n/a
Industrial - Infrastructure Operations
HQ country
US
AU
Primary segment
Core industrial & construction supplies distribution (branches, Onsite, eBusiness excl. FMI)
Sydney toll roads
Market structure
Competitive
Quasi-Monopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Weak
Moderate
Moat score
57 / 100
91 / 100
Moat domains
Supply, Demand
Legal, Financial, Demand
Last update
2026-01-06
2026-01-04

Moat coverage

Shared moat types

No overlap yet.

Fastenal Company strengths

Service Field NetworkData Workflow LockinProcurement InertiaOperational Excellence

Transurban Group strengths

Concession LicenseBenchmark Pricing PowerDynamic congestion pricing

Segment mix

Fastenal Company segments

Full profile >

Fastenal Managed Inventory (FMI)

Competitive

44.3%

Core industrial & construction supplies distribution (branches, Onsite, eBusiness excl. FMI)

Competitive

55.7%

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?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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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.