VOL. XCIV, NO. 247
★ WIDE MOAT STOCKS COMPARISON ★
NO ADVICE
Friday, January 2, 2026
Stock Comparison
Fortinet, Inc. vs TC Energy Corporation
Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.
Fortinet, Inc.
FTNT · NASDAQ
Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.
Full stock profile
Dive deeper into Fortinet, Inc.'s moat claims, evidence, and risks.
View FTNT analysisTC Energy Corporation
TRP · New York Stock Exchange
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 analysisComparison highlights
- Moat score gap: Fortinet, Inc. leads (84 / 100 vs 80 / 100 for TC Energy Corporation).
- Segment focus: Fortinet, Inc. has 2 segments (68% in Subscriptions & Support Services); 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: Fortinet, Inc. has 7 moat types across 3 domains; TC Energy Corporation has 4 across 3.
Primary market context
Fortinet, Inc.
Subscriptions & Support Services
Cybersecurity subscriptions and technical support for Fortinet installed base (FortiGuard + FortiCare)
Global
Installed-base enterprises and channel partners
Vendor (subscription/support services)
68%
TC Energy Corporation
U.S. Natural Gas Pipelines
U.S. interstate natural gas pipeline transportation (FERC-regulated)
United States
Utilities/LDCs, power generators, LNG/export facilities, industrial users and marketers (as shippers)
Midstream pipeline operator
46.1%
Side-by-side metrics
Moat coverage
Shared moat types
Fortinet, Inc. strengths
TC Energy Corporation strengths
Segment mix
Fortinet, Inc. segments
Full profile >Secure Networking Products
Oligopoly
Subscriptions & Support Services
Quasi-Monopoly
TC Energy Corporation segments
Full profile >Canadian Natural Gas Pipelines
Quasi-Monopoly
U.S. Natural Gas Pipelines
Oligopoly
Mexico Natural Gas Pipelines
Oligopoly
Power and Energy Solutions
Competitive
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View the moat stocks listCuration & 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.