VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Friday, January 2, 2026

Wide Moat Stocks Home My Collections

Stock Comparison

Moody's Corporation vs TC Energy Corporation

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

Moody's Corporation

MCO · New York Stock Exchange

Market cap (USD)$90B

Gross margin (TTM)67.5%

Operating margin (TTM)43.5%

Net margin (TTM)29.9%

SectorFinancials

IndustryFinancial - Data & Stock Exchanges

CountryUS

Data as of2025-12-21

Moat score

79/ 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 Moody's Corporation's moat claims, evidence, and risks.

View MCO 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: TC Energy Corporation leads (80 / 100 vs 79 / 100 for Moody's Corporation).
Segment focus: Moody's Corporation has 2 segments (53.5% in Moody's Investors Service (Credit Ratings)); 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: Moody's Corporation has 5 moat types across 4 domains; TC Energy Corporation has 4 across 3.

Primary market context

Moody's Corporation

Moody's Investors Service (Credit Ratings)

Market

Credit ratings and ratings-related research

Geography

Global

Customer

Issuers, investors, regulators

Role

Credit rating agency / research provider

Revenue share

53.5%

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

Moody's Corporation

TC Energy Corporation

Ticker / Exchange

MCO - New York Stock Exchange

TRP - New York Stock Exchange

Market cap (USD)

$90B

$37B

Gross margin (TTM)

67.5%

n/a

Operating margin (TTM)

43.5%

n/a

Net margin (TTM)

29.9%

n/a

Sector

Financials

Energy

Industry

Financial - Data & Stock Exchanges

n/a

HQ country

Primary segment

Moody's Investors Service (Credit Ratings)

U.S. Natural Gas Pipelines

Market structure

Oligopoly

Market share

29%-32% (estimated)

n/a

HHI estimate

3,568

n/a

Pricing power

Strong

Weak

Moat score

79 / 100

80 / 100

Moat domains

Legal, Network, Demand, Supply

Legal, Demand, Supply

Last update

2025-12-21

2026-01-02

Moat coverage

Shared moat types

Regulated Standards Pipe

Moody's Corporation strengths

De Facto StandardBrand TrustData Workflow LockinScope Economies

TC Energy Corporation strengths

Long Term ContractsPhysical Network DensityGovernment Contracting Relationships

Segment mix

Moody's Corporation segments

Full profile >

Moody's Investors Service (Credit Ratings)

Oligopoly

53.5%

Moody's Analytics (Risk & Data/Software)

Competitive

46.5%

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.