VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Microchip Technology Incorporated vs The Progressive Corporation

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

Microchip Technology Incorporated

MCHP · NASDAQ

Market cap (USD)$36.1B
Gross margin (TTM)50.1%
Operating margin (TTM)1.4%
Net margin (TTM)-4.4%
SectorTechnology
IndustrySemiconductors
CountryUS
Data as of2025-12-29
Moat score
71/ 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 Microchip Technology Incorporated's moat claims, evidence, and risks.

View MCHP 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 71 / 100 for Microchip Technology Incorporated).
  • Segment focus: Microchip Technology Incorporated has 3 segments (51.1% in Mixed-signal Microcontrollers); The Progressive Corporation has 2 segments (85% in Personal Lines).
  • Moat breadth: Microchip Technology Incorporated has 6 moat types across 3 domains; The Progressive Corporation has 5 across 2.

Primary market context

Microchip Technology Incorporated

Mixed-signal Microcontrollers

Market

Embedded microcontrollers & microprocessors for embedded control

Geography

Global

Customer

OEMs and distributors (embedded system designers)

Role

IDM / hybrid manufacturing semiconductor supplier

Revenue share

51.1%

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

Microchip Technology Incorporated
The Progressive Corporation
Ticker / Exchange
MCHP - NASDAQ
PGR - New York Stock Exchange
Market cap (USD)
$36.1B
$124.8B
Gross margin (TTM)
50.1%
26.3%
Operating margin (TTM)
1.4%
15.9%
Net margin (TTM)
-4.4%
12.6%
Sector
Technology
Financials
Industry
Semiconductors
Insurance - Property & Casualty
HQ country
US
US
Primary segment
Mixed-signal Microcontrollers
Personal Lines
Market structure
Oligopoly
Oligopoly
Market share
6%-12% (implied)
16.7% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
71 / 100
75 / 100
Moat domains
Demand, Supply, Legal
Supply, Demand
Last update
2025-12-29
2026-01-04

Moat coverage

Shared moat types

Operational Excellence

Microchip Technology Incorporated strengths

Training Org Change CostsSwitching Costs GeneralScope EconomiesIP Choke PointDesign In Qualification

The Progressive Corporation strengths

Learning Curve YieldBrand TrustService Field NetworkSuite Bundling

Segment mix

Microchip Technology Incorporated segments

Full profile >

Mixed-signal Microcontrollers

Oligopoly

51.1%

Analog

Oligopoly

26.3%

Other (FPGA, memory, timing systems, manufacturing services, SuperFlash licensing)

Oligopoly

22.6%

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.