VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

MTU Aero Engines AG vs TC Energy Corporation

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

MTU Aero Engines AG

MTX · Deutsche Boerse XETRA

Market cap (USD)$20B
Gross margin (TTM)12.7%
Operating margin (TTM)3%
Net margin (TTM)6.1%
SectorIndustrials
IndustryAerospace & Defense
CountryDE
Data as of2025-12-28
Moat score
61/ 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 MTU Aero Engines AG's moat claims, evidence, and risks.

View MTX 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: TC Energy Corporation leads (80 / 100 vs 61 / 100 for MTU Aero Engines AG).
  • Segment focus: MTU Aero Engines AG has 2 segments (67.4% in MRO business (commercial maintenance)); TC Energy Corporation has 4 segments (46.1% in U.S. Natural Gas Pipelines).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Weak.
  • Moat breadth: MTU Aero Engines AG has 8 moat types across 3 domains; TC Energy Corporation has 4 across 3.

Primary market context

MTU Aero Engines AG

MRO business (commercial maintenance)

Market

Commercial aircraft engine maintenance, repair and overhaul (engine MRO) and associated services

Geography

Global

Customer

Airlines, lessors and engine owners/operators

Role

Aftermarket service provider (engine shop visits, repairs, on-wing services, leasing/asset management)

Revenue share

67.4%

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

MTU Aero Engines AG
TC Energy Corporation
Ticker / Exchange
MTX - Deutsche Boerse XETRA
TRP - New York Stock Exchange
Market cap (USD)
$20B
$37B
Gross margin (TTM)
12.7%
n/a
Operating margin (TTM)
3%
n/a
Net margin (TTM)
6.1%
n/a
Sector
Industrials
Energy
Industry
Aerospace & Defense
n/a
HQ country
DE
CA
Primary segment
MRO business (commercial maintenance)
U.S. Natural Gas Pipelines
Market structure
Competitive
Oligopoly
Market share
10% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Weak
Moat score
61 / 100
80 / 100
Moat domains
Demand, Supply, Legal
Legal, Demand, Supply
Last update
2025-12-28
2026-01-02

Moat coverage

Shared moat types

Government Contracting RelationshipsLong Term Contracts

MTU Aero Engines AG strengths

Design In QualificationScope EconomiesCapex Knowhow ScaleService Field NetworkOperational ExcellencePreferential Input Access

TC Energy Corporation strengths

Regulated Standards PipePhysical Network Density

Segment mix

MTU Aero Engines AG segments

Full profile >

OEM business (commercial and military engine business)

Oligopoly

32.6%

MRO business (commercial maintenance)

Competitive

67.4%

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?

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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.