VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Alphabet Inc. vs Transurban Group

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

Alphabet Inc.

GOOGL · The Nasdaq Stock Market

Market cap (USD)$3.8T
Gross margin (TTM)59.2%
Operating margin (TTM)32.2%
Net margin (TTM)32.2%
SectorCommunication Services
IndustryInternet Content & Information
CountryUS
Data as of2025-12-21
Moat score
86/ 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 Alphabet Inc.'s moat claims, evidence, and risks.

View GOOGL analysis

Transurban Group

TCL · Australian Securities Exchange

Market cap (USD)$42.6B
Gross margin (TTM)43.4%
Operating margin (TTM)39.4%
Net margin (TTM)5.8%
SectorIndustrials
IndustryIndustrial - Infrastructure Operations
CountryAU
Data as of2026-01-04
Moat score
91/ 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 Transurban Group's moat claims, evidence, and risks.

View TCL analysis

Comparison highlights

  • Moat score gap: Transurban Group leads (91 / 100 vs 86 / 100 for Alphabet Inc.).
  • Segment focus: Alphabet Inc. has 6 segments (56.6% in Google Search & other (Advertising)); Transurban Group has 4 segments (49.5% in Sydney toll roads).
  • Primary market structure: Quasi-Monopoly vs Quasi-Monopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Alphabet Inc. has 10 moat types across 4 domains; Transurban Group has 3 across 3.

Primary market context

Alphabet Inc.

Google Search & other (Advertising)

Market

Search advertising (intent-based digital ads)

Geography

Global

Customer

Advertisers (SMB to enterprise)

Role

Ad platform / publisher

Revenue share

56.6%

Transurban Group

Sydney toll roads

Market

Urban toll-road concessions (Sydney)

Geography

Sydney, New South Wales, Australia

Customer

Motorists and commercial fleet operators

Role

Concessionaire / operator and developer

Revenue share

49.5%

Side-by-side metrics

Alphabet Inc.
Transurban Group
Ticker / Exchange
GOOGL - The Nasdaq Stock Market
TCL - Australian Securities Exchange
Market cap (USD)
$3.8T
$42.6B
Gross margin (TTM)
59.2%
43.4%
Operating margin (TTM)
32.2%
39.4%
Net margin (TTM)
32.2%
5.8%
Sector
Communication Services
Industrials
Industry
Internet Content & Information
Industrial - Infrastructure Operations
HQ country
US
AU
Primary segment
Google Search & other (Advertising)
Sydney toll roads
Market structure
Quasi-Monopoly
Quasi-Monopoly
Market share
88%-91% (reported)
n/a
HHI estimate
8,115
n/a
Pricing power
Strong
Moderate
Moat score
86 / 100
91 / 100
Moat domains
Network, Demand, Legal, Supply
Legal, Financial, Demand
Last update
2025-12-21
2026-01-04

Moat coverage

Shared moat types

No overlap yet.

Alphabet Inc. strengths

Data Network EffectsHabit DefaultTwo Sided NetworkContent Rights CurrencyOperational ExcellenceDefault OS GatewaySwitching Costs GeneralCapex Knowhow ScaleEcosystem ComplementsIncubation & patient capital

Transurban Group strengths

Concession LicenseBenchmark Pricing PowerDynamic congestion pricing

Segment mix

Alphabet Inc. segments

Full profile >

Google Search & other (Advertising)

Quasi-Monopoly

56.6%

YouTube (Advertising)

Oligopoly

10.3%

Google Network (Advertising)

Competitive

8.7%

Google Subscriptions, Platforms & Devices

Quasi-Monopoly

11.5%

Google Cloud

Oligopoly

12.4%

Other Bets

Competitive

0.5%

Transurban Group segments

Full profile >

Sydney toll roads

Quasi-Monopoly

49.5%

Melbourne toll roads

Quasi-Monopoly

26.5%

Brisbane toll roads

Quasi-Monopoly

16%

North America managed lanes and concessions

Quasi-Monopoly

8.1%

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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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.