VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

FactSet Research Systems Inc. vs The Progressive Corporation

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

FactSet Research Systems Inc.

FDS · New York Stock Exchange

Market cap (USD)$10.8B
Gross margin (TTM)52.3%
Operating margin (TTM)31.7%
Net margin (TTM)25.4%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryUS
Data as of2025-12-30
Moat score
85/ 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 FactSet Research Systems Inc.'s moat claims, evidence, and risks.

View FDS 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: FactSet Research Systems Inc. leads (85 / 100 vs 75 / 100 for The Progressive Corporation).
  • Segment focus: FactSet Research Systems Inc. has 2 segments; The Progressive Corporation has 2 segments (85% in Personal Lines).
  • Moat breadth: FactSet Research Systems Inc. has 6 moat types across 3 domains; The Progressive Corporation has 5 across 2.

Primary market context

FactSet Research Systems Inc.

Hosted Platform (Workstations & Analytics)

Market

Financial data and analytics platforms for investment professionals

Geography

Global

Customer

Institutional investors and financial institutions

Role

Software and data platform vendor

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

FactSet Research Systems Inc.
The Progressive Corporation
Ticker / Exchange
FDS - New York Stock Exchange
PGR - New York Stock Exchange
Market cap (USD)
$10.8B
$124.8B
Gross margin (TTM)
52.3%
26.3%
Operating margin (TTM)
31.7%
15.9%
Net margin (TTM)
25.4%
12.6%
Sector
Financials
Financials
Industry
Financial - Data & Stock Exchanges
Insurance - Property & Casualty
HQ country
US
US
Primary segment
Hosted Platform (Workstations & Analytics)
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
85 / 100
75 / 100
Moat domains
Demand, Network, Legal
Supply, Demand
Last update
2025-12-30
2026-01-04

Moat coverage

Shared moat types

Suite Bundling

FactSet Research Systems Inc. strengths

Data Workflow LockinSwitching Costs GeneralStandards RegistryDe Facto StandardConcession License

The Progressive Corporation strengths

Learning Curve YieldBrand TrustService Field NetworkOperational Excellence

Segment mix

FactSet Research Systems Inc. segments

Full profile >

Hosted Platform (Workstations & Analytics)

Oligopoly

n/a

Identifier Platform (CUSIP Global Services)

Quasi-Monopoly

n/a

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.