VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Friday, January 2, 2026

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Stock Comparison

Meta Platforms, Inc. vs TC Energy Corporation

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

Meta Platforms, Inc.

META · Nasdaq Global Select Market

Market cap (USD)$1.6T
Gross margin (TTM)82%
Operating margin (TTM)43.2%
Net margin (TTM)30.9%
SectorCommunication Services
IndustryInternet Content & Information
CountryUS
Data as of2025-12-26
Moat score
94/ 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 Meta Platforms, Inc.'s moat claims, evidence, and risks.

View META 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: Meta Platforms, Inc. leads (94 / 100 vs 80 / 100 for TC Energy Corporation).
  • Segment focus: Meta Platforms, Inc. has 2 segments (98.7% in Family of Apps (FoA)); TC Energy Corporation has 4 segments (46.1% in U.S. Natural Gas Pipelines).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Weak.
  • Moat breadth: Meta Platforms, Inc. has 6 moat types across 2 domains; TC Energy Corporation has 4 across 3.

Primary market context

Meta Platforms, Inc.

Family of Apps (FoA)

Market

Global social media platforms & social media advertising

Geography

Global

Customer

Consumers and advertisers

Role

Two-sided platform (attention + ad auction)

Revenue share

98.7%

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

Meta Platforms, Inc.
TC Energy Corporation
Ticker / Exchange
META - Nasdaq Global Select Market
TRP - New York Stock Exchange
Market cap (USD)
$1.6T
$37B
Gross margin (TTM)
82%
n/a
Operating margin (TTM)
43.2%
n/a
Net margin (TTM)
30.9%
n/a
Sector
Communication Services
Energy
Industry
Internet Content & Information
n/a
HQ country
US
CA
Primary segment
Family of Apps (FoA)
U.S. Natural Gas Pipelines
Market structure
Oligopoly
Oligopoly
Market share
55%-65% (estimated)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Weak
Moat score
94 / 100
80 / 100
Moat domains
Network, Supply
Legal, Demand, Supply
Last update
2025-12-26
2026-01-02

Moat coverage

Shared moat types

No overlap yet.

Meta Platforms, Inc. strengths

Two Sided NetworkDirect Network EffectsData Network EffectsEcosystem ComplementsCapex Knowhow ScaleLearning Curve Yield

TC Energy Corporation strengths

Regulated Standards PipeLong Term ContractsPhysical Network DensityGovernment Contracting Relationships

Segment mix

Meta Platforms, Inc. segments

Full profile >

Family of Apps (FoA)

Oligopoly

98.7%

Reality Labs (RL)

Quasi-Monopoly

1.3%

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.