VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Keysight Technologies, Inc. vs The Progressive Corporation

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

Keysight Technologies, Inc.

KEYS · New York Stock Exchange

Market cap (USD)$35.9B
Gross margin (TTM)62.1%
Operating margin (TTM)17.6%
Net margin (TTM)15.7%
SectorTechnology
IndustryHardware, Equipment & Parts
CountryUS
Data as of2026-01-01
Moat score
69/ 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 Keysight Technologies, Inc.'s moat claims, evidence, and risks.

View KEYS 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: The Progressive Corporation leads (75 / 100 vs 69 / 100 for Keysight Technologies, Inc.).
  • Segment focus: Keysight Technologies, Inc. has 2 segments (69.3% in Communications Solutions Group (CSG)); The Progressive Corporation has 2 segments (85% in Personal Lines).
  • Moat breadth: Keysight Technologies, Inc. has 6 moat types across 3 domains; The Progressive Corporation has 5 across 2.

Primary market context

Keysight Technologies, Inc.

Communications Solutions Group (CSG)

Market

Electronic design, test, and measurement solutions for communications networks and aerospace/defense/government systems

Geography

Global

Customer

Commercial communications OEMs and operators; aerospace/defense primes and government contractors/agencies

Role

Test & measurement instrumentation OEM + software platform + services provider

Revenue share

69.3%

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

Keysight Technologies, Inc.
The Progressive Corporation
Ticker / Exchange
KEYS - New York Stock Exchange
PGR - New York Stock Exchange
Market cap (USD)
$35.9B
$124.8B
Gross margin (TTM)
62.1%
26.3%
Operating margin (TTM)
17.6%
15.9%
Net margin (TTM)
15.7%
12.6%
Sector
Technology
Financials
Industry
Hardware, Equipment & Parts
Insurance - Property & Casualty
HQ country
US
US
Primary segment
Communications Solutions Group (CSG)
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
69 / 100
75 / 100
Moat domains
Demand, Supply, Network
Supply, Demand
Last update
2026-01-01
2026-01-04

Moat coverage

Shared moat types

Service Field NetworkLearning Curve YieldBrand Trust

Keysight Technologies, Inc. strengths

Data Workflow LockinDesign In QualificationDe Facto Standard

The Progressive Corporation strengths

Suite BundlingOperational Excellence

Segment mix

Keysight Technologies, Inc. segments

Full profile >

Communications Solutions Group (CSG)

Oligopoly

69.3%

Electronic Industrial Solutions Group (EISG)

Oligopoly

30.7%

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.