VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Marsh & McLennan Companies, Inc. vs Texas Roadhouse, Inc.

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)$92.2B
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

Texas Roadhouse, Inc.

TXRH · NASDAQ Global Select Market

Market cap (USD)$11.6B
Gross margin (TTM)16.7%
Operating margin (TTM)8.9%
Net margin (TTM)7.5%
SectorConsumer
IndustryRestaurants
CountryUS
Data as of2026-01-06
Moat score
66/ 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 Texas Roadhouse, Inc.'s moat claims, evidence, and risks.

View TXRH analysis

Comparison highlights

  • Moat score gap: Texas Roadhouse, Inc. leads (66 / 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); Texas Roadhouse, Inc. has 3 segments (93.8% in Texas Roadhouse).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Marsh & McLennan Companies, Inc. has 5 moat types across 3 domains; Texas Roadhouse, Inc. 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%

Texas Roadhouse, Inc.

Texas Roadhouse

Market

Casual dining steakhouse restaurants

Geography

United States (plus international via franchise)

Customer

Consumers

Role

Restaurant operator & franchisor

Revenue share

93.8%

Side-by-side metrics

Marsh & McLennan Companies, Inc.
Texas Roadhouse, Inc.
Ticker / Exchange
MMC - New York Stock Exchange
TXRH - NASDAQ Global Select Market
Market cap (USD)
$92.2B
$11.6B
Gross margin (TTM)
42.3%
16.7%
Operating margin (TTM)
23.2%
8.9%
Net margin (TTM)
15.6%
7.5%
Sector
Financials
Consumer
Industry
Insurance - Brokers
Restaurants
HQ country
US
US
Primary segment
Risk and Insurance Services
Texas Roadhouse
Market structure
Oligopoly
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
65 / 100
66 / 100
Moat domains
Supply, Demand, Legal
Demand, Supply, Legal
Last update
2025-12-31
2026-01-06

Moat coverage

Shared moat types

Brand Trust

Marsh & McLennan Companies, Inc. strengths

Service Field NetworkSwitching Costs GeneralCompliance AdvantageData Workflow Lockin

Texas Roadhouse, Inc. strengths

Operational ExcellenceHabit DefaultIP Choke Point

Segment mix

Marsh & McLennan Companies, Inc. segments

Full profile >

Risk and Insurance Services

Oligopoly

62.8%

Consulting

Competitive

37.2%

Texas Roadhouse, Inc. segments

Full profile >

Texas Roadhouse

Competitive

93.8%

Bubba's 33

Competitive

5.6%

Other (Jaggers + retail initiatives)

Competitive

0.6%

Want the full wide moat stocks list?

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Proven models entering the expansion stage with unit economics that work.

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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.