VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Marsh & McLennan Companies, Inc. vs Norfolk Southern Corporation

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

Marsh & McLennan Companies, Inc.

MMC · New York Stock Exchange

Market cap (USD)$90.4B
Gross margin (TTM)42.3%
Operating margin (TTM)23.2%
Net margin (TTM)15.6%
SectorFinancials
IndustryInsurance - Brokers
CountryUS
Data as of2025-12-31
Moat score
65/ 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 Marsh & McLennan Companies, Inc.'s moat claims, evidence, and risks.

View MMC 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 65 / 100 for Marsh & McLennan Companies, Inc.).
  • Segment focus: Marsh & McLennan Companies, Inc. has 2 segments (62.8% in Risk and Insurance Services); Norfolk Southern Corporation has 3 segments (62% in Merchandise).
  • Moat breadth: Marsh & McLennan Companies, Inc. has 5 moat types across 3 domains; Norfolk Southern Corporation has 4 across 3.

Primary market context

Marsh & McLennan Companies, Inc.

Risk and Insurance Services

Market

Insurance brokerage, risk advisory, and reinsurance brokerage/services

Geography

Global

Customer

Enterprises, public entities, associations, and individuals (via broker/agent channels)

Role

Intermediary + advisor (insurance/reinsurance market intermediary)

Revenue share

62.8%

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

Marsh & McLennan Companies, Inc.
Norfolk Southern Corporation
Ticker / Exchange
MMC - New York Stock Exchange
NSC - New York Stock Exchange
Market cap (USD)
$90.4B
$65B
Gross margin (TTM)
42.3%
n/a
Operating margin (TTM)
23.2%
n/a
Net margin (TTM)
15.6%
n/a
Sector
Financials
Industrials
Industry
Insurance - Brokers
Railroads
HQ country
US
US
Primary segment
Risk and Insurance Services
Merchandise
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
65 / 100
70 / 100
Moat domains
Supply, Demand, Legal
Supply, Legal, Demand
Last update
2025-12-31
2026-01-02

Moat coverage

Shared moat types

Switching Costs General

Marsh & McLennan Companies, Inc. strengths

Service Field NetworkBrand TrustCompliance AdvantageData Workflow Lockin

Norfolk Southern Corporation strengths

Physical Network DensityPermits Rights Of WayScale Economies Unit Cost

Segment mix

Marsh & McLennan Companies, Inc. segments

Full profile >

Risk and Insurance Services

Oligopoly

62.8%

Consulting

Competitive

37.2%

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.