VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

MSCI Inc. vs The Progressive Corporation

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

MSCI Inc.

MSCI · New York Stock Exchange

Market cap (USD)$44.7B
Gross margin (TTM)82.4%
Operating margin (TTM)54.2%
Net margin (TTM)40%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryUS
Data as of2025-12-28
Moat score
76/ 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 MSCI Inc.'s moat claims, evidence, and risks.

View MSCI 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: MSCI Inc. leads (76 / 100 vs 75 / 100 for The Progressive Corporation).
  • Segment focus: MSCI Inc. has 4 segments (55.9% in Index); The Progressive Corporation has 2 segments (85% in Personal Lines).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: MSCI Inc. has 4 moat types across 3 domains; The Progressive Corporation has 5 across 2.

Primary market context

MSCI Inc.

Index

Market

Investment indexes and index licensing

Geography

Global

Customer

Institutional investors and asset managers

Role

Index provider / benchmark administrator

Revenue share

55.9%

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

MSCI Inc.
The Progressive Corporation
Ticker / Exchange
MSCI - New York Stock Exchange
PGR - New York Stock Exchange
Market cap (USD)
$44.7B
$124.8B
Gross margin (TTM)
82.4%
26.3%
Operating margin (TTM)
54.2%
15.9%
Net margin (TTM)
40%
12.6%
Sector
Financials
Financials
Industry
Financial - Data & Stock Exchanges
Insurance - Property & Casualty
HQ country
US
US
Primary segment
Index
Personal Lines
Market structure
Oligopoly
Oligopoly
Market share
23%-27% (implied)
16.7% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
76 / 100
75 / 100
Moat domains
Network, Demand, Legal
Supply, Demand
Last update
2025-12-28
2026-01-04

Moat coverage

Shared moat types

No overlap yet.

MSCI Inc. strengths

De Facto StandardSwitching Costs GeneralCompliance AdvantageData Workflow Lockin

The Progressive Corporation strengths

Learning Curve YieldBrand TrustService Field NetworkSuite BundlingOperational Excellence

Segment mix

MSCI Inc. segments

Full profile >

Index

Oligopoly

55.9%

Analytics

Oligopoly

23.6%

Sustainability and Climate

Competitive

11.4%

Private Assets

Competitive

9%

The Progressive Corporation segments

Full profile >

Personal Lines

Oligopoly

85%

Commercial Lines

Competitive

15%

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.