VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Illinois Tool Works Inc. vs Norfolk Southern Corporation

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

Illinois Tool Works Inc.

ITW · New York Stock Exchange

Market cap (USD)$73B
Gross margin (TTM)43.6%
Operating margin (TTM)26.2%
Net margin (TTM)19.1%
SectorIndustrials
IndustryIndustrial - Machinery
CountryUS
Data as of2025-12-31
Moat score
66/ 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 Illinois Tool Works Inc.'s moat claims, evidence, and risks.

View ITW analysis

Norfolk Southern Corporation

NSC · New York Stock Exchange

Market cap (USD)$65B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorIndustrials
IndustryRailroads
CountryUS
Data as of2026-01-02
Moat score
70/ 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 Norfolk Southern Corporation's moat claims, evidence, and risks.

View NSC analysis

Comparison highlights

  • Moat score gap: Norfolk Southern Corporation leads (70 / 100 vs 66 / 100 for Illinois Tool Works Inc.).
  • Segment focus: Illinois Tool Works Inc. has 7 segments (20% in Automotive OEM); Norfolk Southern Corporation has 3 segments (62% in Merchandise).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Illinois Tool Works Inc. has 8 moat types across 3 domains; Norfolk Southern Corporation has 4 across 3.

Primary market context

Illinois Tool Works Inc.

Automotive OEM

Market

Automotive OEM engineered components and fasteners

Geography

Global

Customer

Automotive OEMs and Tier suppliers

Role

Component supplier

Revenue share

20%

Norfolk Southern Corporation

Merchandise

Market

Eastern U.S. freight rail transportation for industrial & consumer goods

Geography

United States (Southeast/East/Midwest; NS network + interchanges)

Customer

Manufacturers, producers, and distributors

Role

Rail carrier

Revenue share

62%

Side-by-side metrics

Illinois Tool Works Inc.
Norfolk Southern Corporation
Ticker / Exchange
ITW - New York Stock Exchange
NSC - New York Stock Exchange
Market cap (USD)
$73B
$65B
Gross margin (TTM)
43.6%
n/a
Operating margin (TTM)
26.2%
n/a
Net margin (TTM)
19.1%
n/a
Sector
Industrials
Industrials
Industry
Industrial - Machinery
Railroads
HQ country
US
US
Primary segment
Automotive OEM
Merchandise
Market structure
Competitive
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
66 / 100
70 / 100
Moat domains
Demand, Supply, Legal
Supply, Legal, Demand
Last update
2025-12-31
2026-01-02

Moat coverage

Shared moat types

Switching Costs General

Illinois Tool Works Inc. strengths

Design In QualificationOperational ExcellenceBrand TrustService Field NetworkInstalled Base ConsumablesFormulation and application engineering know-howIP Choke Point

Norfolk Southern Corporation strengths

Physical Network DensityPermits Rights Of WayScale Economies Unit Cost

Segment mix

Illinois Tool Works Inc. segments

Full profile >

Automotive OEM

Competitive

20%

Food Equipment

Oligopoly

16.6%

Test & Measurement and Electronics

Oligopoly

17.7%

Welding

Oligopoly

11.6%

Polymers & Fluids

Competitive

11.1%

Construction Products

Competitive

12%

Specialty Products

Oligopoly

10.9%

Norfolk Southern Corporation segments

Full profile >

Merchandise

Oligopoly

62%

Intermodal

Oligopoly

25%

Coal

Oligopoly

13%

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.