VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

HENSOLDT AG vs The Progressive Corporation

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

HENSOLDT AG

HAG · Xetra

Market cap (USD)$9.5B
Gross margin (TTM)21.5%
Operating margin (TTM)8.9%
Net margin (TTM)5.2%
SectorIndustrials
IndustryAerospace & Defense
CountryDE
Data as of2025-12-28
Moat score
77/ 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 HENSOLDT AG's moat claims, evidence, and risks.

View HAG 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: HENSOLDT AG leads (77 / 100 vs 75 / 100 for The Progressive Corporation).
  • Segment focus: HENSOLDT AG has 2 segments (84.6% in Sensors); The Progressive Corporation has 2 segments (85% in Personal Lines).
  • Moat breadth: HENSOLDT AG has 3 moat types across 2 domains; The Progressive Corporation has 5 across 2.

Primary market context

HENSOLDT AG

Sensors

Market

Defence and security sensor solutions (radar, electronic warfare, avionics, mission systems integration)

Geography

Global (Europe-centric)

Customer

Government defence ministries/armed forces and defence prime contractors

Role

Defence electronics supplier / system integrator

Revenue share

84.6%

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

HENSOLDT AG
The Progressive Corporation
Ticker / Exchange
HAG - Xetra
PGR - New York Stock Exchange
Market cap (USD)
$9.5B
$124.8B
Gross margin (TTM)
21.5%
26.3%
Operating margin (TTM)
8.9%
15.9%
Net margin (TTM)
5.2%
12.6%
Sector
Industrials
Financials
Industry
Aerospace & Defense
Insurance - Property & Casualty
HQ country
DE
US
Primary segment
Sensors
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
77 / 100
75 / 100
Moat domains
Demand, Supply
Supply, Demand
Last update
2025-12-28
2026-01-04

Moat coverage

Shared moat types

No overlap yet.

HENSOLDT AG strengths

Design In QualificationLong Term ContractsCapex Knowhow Scale

The Progressive Corporation strengths

Learning Curve YieldBrand TrustService Field NetworkSuite BundlingOperational Excellence

Segment mix

HENSOLDT AG segments

Full profile >

Sensors

Oligopoly

84.6%

Optronics

Oligopoly

15.4%

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.