VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Friday, January 2, 2026

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Stock Comparison

Fair Isaac Corporation vs TC Energy Corporation

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

Fair Isaac Corporation

FICO · New York Stock Exchange

Market cap (USD)$39.6B

Gross margin (TTM)82.2%

Operating margin (TTM)46.5%

Net margin (TTM)32.8%

SectorTechnology

IndustrySoftware - Application

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 Fair Isaac Corporation's moat claims, evidence, and risks.

View FICO analysis

TC Energy Corporation

TRP · New York Stock Exchange

Market cap (USD)$37B

Gross margin (TTM)—

Operating margin (TTM)—

Net margin (TTM)—

SectorEnergy

Industry—

CountryCA

Data as of2026-01-02

Moat score

80/ 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 TC Energy Corporation's moat claims, evidence, and risks.

View TRP analysis

Comparison highlights

Moat score gap: Fair Isaac Corporation leads (82 / 100 vs 80 / 100 for TC Energy Corporation).
Segment focus: Fair Isaac Corporation has 2 segments (58.7% in Scores); TC Energy Corporation has 4 segments (46.1% in U.S. Natural Gas Pipelines).
Primary market structure: Quasi-Monopoly vs Oligopoly. Pricing power: Strong vs Weak.
Moat breadth: Fair Isaac Corporation has 5 moat types across 2 domains; TC Energy Corporation has 4 across 3.

Primary market context

Fair Isaac Corporation

Scores

Market

Consumer credit scoring and related predictive scores used in lending decisions

Geography

Primarily United States; also international

Customer

Lenders (mortgage, credit card, auto, etc.), consumer reporting agencies, and consumers (B2C)

Role

Score model developer/licensor; distribution via consumer reporting agencies and direct-to-consumer channels

Revenue share

58.7%

TC Energy Corporation

U.S. Natural Gas Pipelines

Market

U.S. interstate natural gas pipeline transportation (FERC-regulated)

Geography

United States

Customer

Utilities/LDCs, power generators, LNG/export facilities, industrial users and marketers (as shippers)

Role

Midstream pipeline operator

Revenue share

46.1%

Side-by-side metrics

Fair Isaac Corporation

TC Energy Corporation

Ticker / Exchange

FICO - New York Stock Exchange

TRP - New York Stock Exchange

Market cap (USD)

$39.6B

$37B

Gross margin (TTM)

82.2%

n/a

Operating margin (TTM)

46.5%

n/a

Net margin (TTM)

32.8%

n/a

Sector

Technology

Energy

Industry

Software - Application

n/a

HQ country

Primary segment

Scores

U.S. Natural Gas Pipelines

Market structure

Quasi-Monopoly

Oligopoly

Market share

90% (reported)

n/a

HHI estimate

n/a

Pricing power

Strong

Weak

Moat score

82 / 100

80 / 100

Moat domains

Network, Demand

Legal, Demand, Supply

Last update

2025-12-31

2026-01-02

Moat coverage

Shared moat types

No overlap yet.

Fair Isaac Corporation strengths

De Facto StandardFormat Lock InBrand TrustData Workflow LockinSwitching Costs General

TC Energy Corporation strengths

Regulated Standards PipeLong Term ContractsPhysical Network DensityGovernment Contracting Relationships

Segment mix

Fair Isaac Corporation segments

Full profile >

Scores

Quasi-Monopoly

58.7%

Software

Competitive

41.3%

TC Energy Corporation segments

Full profile >

Canadian Natural Gas Pipelines

Quasi-Monopoly

40.7%

U.S. Natural Gas Pipelines

Oligopoly

46.1%

Mexico Natural Gas Pipelines

Oligopoly

6.3%

Power and Energy Solutions

Competitive

6.9%

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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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.