VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 3, 2026

Stock Comparison

IDEXX Laboratories, Inc. vs TC Energy Corporation

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

IDEXX Laboratories, Inc.

IDXX · NASDAQ

Market cap (USD)$53.3B
Gross margin (TTM)61.7%
Operating margin (TTM)31.3%
Net margin (TTM)24.7%
SectorHealthcare
IndustryMedical - Diagnostics & Research
CountryUS
Data as of2025-12-31
Moat score
82/ 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 IDEXX Laboratories, Inc.'s moat claims, evidence, and risks.

View IDXX analysis

TC Energy Corporation

TRP · New York Stock Exchange

Market cap (USD)$37B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorEnergy
Industry
CountryCA
Data as of2026-01-02
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 TC Energy Corporation's moat claims, evidence, and risks.

View TRP analysis

Comparison highlights

  • Moat score gap: IDEXX Laboratories, Inc. leads (82 / 100 vs 80 / 100 for TC Energy Corporation).
  • Segment focus: IDEXX Laboratories, Inc. has 4 segments (91.7% in Companion Animal Group); TC Energy Corporation has 4 segments (46.1% in U.S. Natural Gas Pipelines).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Weak.
  • Moat breadth: IDEXX Laboratories, Inc. has 5 moat types across 3 domains; TC Energy Corporation has 4 across 3.

Primary market context

IDEXX Laboratories, Inc.

Companion Animal Group

Market

Veterinary diagnostics and practice management software for companion animals

Geography

Global

Customer

Veterinary practices, corporate veterinary groups, and reference laboratories

Role

Diagnostics platform owner (in-clinic instruments + consumables) and reference lab/service provider; practice management software provider

Revenue share

91.7%

TC Energy Corporation

U.S. Natural Gas Pipelines

Market

U.S. interstate natural gas pipeline transportation (FERC-regulated)

Geography

United States

Customer

Utilities/LDCs, power generators, LNG/export facilities, industrial users and marketers (as shippers)

Role

Midstream pipeline operator

Revenue share

46.1%

Side-by-side metrics

IDEXX Laboratories, Inc.
TC Energy Corporation
Ticker / Exchange
IDXX - NASDAQ
TRP - New York Stock Exchange
Market cap (USD)
$53.3B
$37B
Gross margin (TTM)
61.7%
n/a
Operating margin (TTM)
31.3%
n/a
Net margin (TTM)
24.7%
n/a
Sector
Healthcare
Energy
Industry
Medical - Diagnostics & Research
n/a
HQ country
US
CA
Primary segment
Companion Animal Group
U.S. Natural Gas Pipelines
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Weak
Moat score
82 / 100
80 / 100
Moat domains
Demand, Supply, Legal
Legal, Demand, Supply
Last update
2025-12-31
2026-01-02

Moat coverage

Shared moat types

Physical Network DensityRegulated Standards Pipe

IDEXX Laboratories, Inc. strengths

Installed Base ConsumablesData Workflow LockinCompliance Advantage

TC Energy Corporation strengths

Long Term ContractsGovernment Contracting Relationships

Segment mix

IDEXX Laboratories, Inc. segments

Full profile >

Companion Animal Group

Oligopoly

91.7%

Water Quality Products

Oligopoly

4.7%

Livestock, Poultry and Dairy

Competitive

3.1%

Other (OPTI Medical and out-licensing)

Competitive

0.4%

TC Energy Corporation segments

Full profile >

Canadian Natural Gas Pipelines

Quasi-Monopoly

40.7%

U.S. Natural Gas Pipelines

Oligopoly

46.1%

Mexico Natural Gas Pipelines

Oligopoly

6.3%

Power and Energy Solutions

Competitive

6.9%

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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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.