VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Melrose Industries PLC vs The Progressive Corporation

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

Melrose Industries PLC

MRO · London Stock Exchange

Market cap (USD)$7.9B
Gross margin (TTM)21.4%
Operating margin (TTM)7.6%
Net margin (TTM)4%
SectorIndustrials
IndustryIndustrial - Machinery
CountryGB
Data as of2025-12-28
Moat score
77/ 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 Melrose Industries PLC's moat claims, evidence, and risks.

View MRO 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: Melrose Industries PLC leads (77 / 100 vs 75 / 100 for The Progressive Corporation).
  • Segment focus: Melrose Industries PLC has 2 segments (57.9% in Structures); The Progressive Corporation has 2 segments (85% in Personal Lines).
  • Moat breadth: Melrose Industries PLC has 5 moat types across 2 domains; The Progressive Corporation has 5 across 2.

Primary market context

Melrose Industries PLC

Structures

Market

Aerostructures and aircraft electrical wiring systems (EWIS)

Geography

Global

Customer

Airframe OEMs; defence primes

Role

Tier-1 aerospace supplier

Revenue share

57.9%

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

Melrose Industries PLC
The Progressive Corporation
Ticker / Exchange
MRO - London Stock Exchange
PGR - New York Stock Exchange
Market cap (USD)
$7.9B
$124.8B
Gross margin (TTM)
21.4%
26.3%
Operating margin (TTM)
7.6%
15.9%
Net margin (TTM)
4%
12.6%
Sector
Industrials
Financials
Industry
Industrial - Machinery
Insurance - Property & Casualty
HQ country
GB
US
Primary segment
Structures
Personal Lines
Market structure
Oligopoly
Oligopoly
Market share
n/a
16.7% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
77 / 100
75 / 100
Moat domains
Demand, Supply
Supply, Demand
Last update
2025-12-28
2026-01-04

Moat coverage

Shared moat types

Service Field Network

Melrose Industries PLC strengths

Long Term ContractsDesign In QualificationCapex Knowhow ScaleCapacity Moat

The Progressive Corporation strengths

Learning Curve YieldBrand TrustSuite BundlingOperational Excellence

Segment mix

Melrose Industries PLC segments

Full profile >

Engines

Oligopoly

42.1%

Structures

Oligopoly

57.9%

The Progressive Corporation segments

Full profile >

Personal Lines

Oligopoly

85%

Commercial Lines

Competitive

15%

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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.