VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Fidelity National Information Services, Inc. vs The Progressive Corporation

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

Fidelity National Information Services, Inc.

FIS · New York Stock Exchange

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorTechnology
Industry
CountryUS
Data as of2026-01-10
Moat score
65/ 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 Fidelity National Information Services, Inc.'s moat claims, evidence, and risks.

View FIS analysis

The Progressive Corporation

PGR · New York Stock Exchange

Market cap (USD)$126.1B
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 65 / 100 for Fidelity National Information Services, Inc.).
  • Segment focus: Fidelity National Information Services, Inc. has 2 segments (68.1% in Banking Solutions); The Progressive Corporation has 2 segments (85% in Personal Lines).
  • Moat breadth: Fidelity National Information Services, Inc. has 6 moat types across 3 domains; The Progressive Corporation has 5 across 2.

Primary market context

Fidelity National Information Services, Inc.

Banking Solutions

Market

Core banking platforms and bank transaction processing software/services

Geography

Global

Customer

Banks, credit unions, commercial lenders, and other institutions

Role

Software/platform provider and outsourced processor

Revenue share

68.1%

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

Fidelity National Information Services, Inc.
The Progressive Corporation
Ticker / Exchange
FIS - New York Stock Exchange
PGR - New York Stock Exchange
Market cap (USD)
n/a
$126.1B
Gross margin (TTM)
n/a
26.3%
Operating margin (TTM)
n/a
15.9%
Net margin (TTM)
n/a
12.6%
Sector
Technology
Financials
Industry
n/a
Insurance - Property & Casualty
HQ country
US
US
Primary segment
Banking Solutions
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
65 / 100
75 / 100
Moat domains
Demand, Legal, Network
Supply, Demand
Last update
2026-01-10
2026-01-04

Moat coverage

Shared moat types

Suite Bundling

Fidelity National Information Services, Inc. strengths

Long Term ContractsSwitching Costs GeneralCompliance AdvantageData Workflow LockinEcosystem Complements

The Progressive Corporation strengths

Learning Curve YieldBrand TrustService Field NetworkOperational Excellence

Segment mix

Fidelity National Information Services, Inc. segments

Full profile >

Banking Solutions

Oligopoly

68.1%

Capital Market Solutions

Competitive

29.4%

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.

View the moat stocks list

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.