VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

General Dynamics Corporation vs The Progressive Corporation

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

General Dynamics Corporation

GD · New York Stock Exchange

Market cap (USD)$95.9B
Gross margin (TTM)15.3%
Operating margin (TTM)10.3%
Net margin (TTM)8.2%
SectorIndustrials
IndustryAerospace & Defense
CountryUS
Data as of2025-12-29
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 General Dynamics Corporation's moat claims, evidence, and risks.

View GD 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: General Dynamics Corporation leads (80 / 100 vs 75 / 100 for The Progressive Corporation).
  • Segment focus: General Dynamics Corporation has 4 segments (30.1% in Marine Systems (Nuclear subs + surface shipbuilding)); The Progressive Corporation has 2 segments (85% in Personal Lines).
  • Primary market structure: Duopoly vs Oligopoly. Pricing power: Weak vs Moderate.
  • Moat breadth: General Dynamics Corporation has 11 moat types across 3 domains; The Progressive Corporation has 5 across 2.

Primary market context

General Dynamics Corporation

Marine Systems (Nuclear subs + surface shipbuilding)

Market

U.S. Navy nuclear-powered submarine construction and major surface combatant shipbuilding/lifecycle services

Geography

United States

Customer

Government (primarily U.S. Navy)

Role

Prime contractor / shipbuilder / lifecycle services

Revenue share

30.1%

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

General Dynamics Corporation
The Progressive Corporation
Ticker / Exchange
GD - New York Stock Exchange
PGR - New York Stock Exchange
Market cap (USD)
$95.9B
$124.8B
Gross margin (TTM)
15.3%
26.3%
Operating margin (TTM)
10.3%
15.9%
Net margin (TTM)
8.2%
12.6%
Sector
Industrials
Financials
Industry
Aerospace & Defense
Insurance - Property & Casualty
HQ country
US
US
Primary segment
Marine Systems (Nuclear subs + surface shipbuilding)
Personal Lines
Market structure
Duopoly
Oligopoly
Market share
45%-55% (estimated)
16.7% (reported)
HHI estimate
5,000
n/a
Pricing power
Weak
Moderate
Moat score
80 / 100
75 / 100
Moat domains
Demand, Supply, Legal
Supply, Demand
Last update
2025-12-29
2026-01-04

Moat coverage

Shared moat types

Brand TrustService Field NetworkSuite Bundling

General Dynamics Corporation strengths

Regulated Standards PipeCapex Knowhow ScaleLong Term ContractsGovernment Contracting RelationshipsDesign In QualificationProcurement InertiaCapacity MoatCompliance Advantage

The Progressive Corporation strengths

Learning Curve YieldOperational Excellence

Segment mix

General Dynamics Corporation segments

Full profile >

Aerospace (Gulfstream + Jet Aviation)

Oligopoly

23.6%

Marine Systems (Nuclear subs + surface shipbuilding)

Duopoly

30.1%

Combat Systems (Land vehicles + munitions)

Oligopoly

18.9%

Technologies (C5ISR + Federal IT)

Competitive

27.5%

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.