VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Ferguson Enterprises Inc. vs The Progressive Corporation

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

Ferguson Enterprises Inc.

FERG · New York Stock Exchange

Market cap (USD)$44.5B
Gross margin (TTM)30.8%
Operating margin (TTM)8.7%
Net margin (TTM)6.3%
SectorIndustrials
IndustryIndustrial - Distribution
CountryUS
Data as of2026-01-01
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 Ferguson Enterprises Inc.'s moat claims, evidence, and risks.

View FERG 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 72 / 100 for Ferguson Enterprises Inc.).
  • Segment focus: Ferguson Enterprises Inc. has 2 segments (95.1% in United States); The Progressive Corporation has 2 segments (85% in Personal Lines).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Ferguson Enterprises Inc. has 4 moat types across 2 domains; The Progressive Corporation has 5 across 2.

Primary market context

Ferguson Enterprises Inc.

United States

Market

Value-added distribution of plumbing, HVAC, PVF, waterworks and related products/services

Geography

United States

Customer

Residential and non-residential professional trade customers (contractors/builders) plus industrial and infrastructure customers

Role

Value-added distributor (B2B)

Revenue share

95.1%

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

Ferguson Enterprises Inc.
The Progressive Corporation
Ticker / Exchange
FERG - New York Stock Exchange
PGR - New York Stock Exchange
Market cap (USD)
$44.5B
$124.8B
Gross margin (TTM)
30.8%
26.3%
Operating margin (TTM)
8.7%
15.9%
Net margin (TTM)
6.3%
12.6%
Sector
Industrials
Financials
Industry
Industrial - Distribution
Insurance - Property & Casualty
HQ country
US
US
Primary segment
United States
Personal Lines
Market structure
Competitive
Oligopoly
Market share
n/a
16.7% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
72 / 100
75 / 100
Moat domains
Supply, Demand
Supply, Demand
Last update
2026-01-01
2026-01-04

Moat coverage

Shared moat types

No overlap yet.

Ferguson Enterprises Inc. strengths

Physical Network DensityScale Economies Unit CostScope EconomiesData Workflow Lockin

The Progressive Corporation strengths

Learning Curve YieldBrand TrustService Field NetworkSuite BundlingOperational Excellence

Segment mix

Ferguson Enterprises Inc. segments

Full profile >

United States

Competitive

95.1%

Canada

Competitive

4.9%

The Progressive Corporation segments

Full profile >

Personal Lines

Oligopoly

85%

Commercial Lines

Competitive

15%

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.