VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Nordson Corporation vs The Progressive Corporation

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

Nordson Corporation

NDSN · NASDAQ

Market cap (USD)$13.7B
Gross margin (TTM)55.2%
Operating margin (TTM)25.5%
Net margin (TTM)17.4%
SectorIndustrials
IndustryIndustrial - Machinery
CountryUS
Data as of2025-12-29
Moat score
67/ 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 Nordson Corporation's moat claims, evidence, and risks.

View NDSN 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: The Progressive Corporation leads (75 / 100 vs 67 / 100 for Nordson Corporation).
  • Segment focus: Nordson Corporation has 3 segments (47.7% in Industrial Precision Solutions); The Progressive Corporation has 2 segments (85% in Personal Lines).
  • Moat breadth: Nordson Corporation has 6 moat types across 2 domains; The Progressive Corporation has 5 across 2.

Primary market context

Nordson Corporation

Industrial Precision Solutions

Market

Industrial precision dispensing, coating, and material-processing equipment (adhesives, coatings, sealants, polymers)

Geography

Global

Customer

Manufacturers and converters (packaging, nonwovens/hygiene, automotive, industrial, agriculture)

Role

Capital equipment OEM / process-solution provider

Revenue share

47.7%

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

Nordson Corporation
The Progressive Corporation
Ticker / Exchange
NDSN - NASDAQ
PGR - New York Stock Exchange
Market cap (USD)
$13.7B
$124.8B
Gross margin (TTM)
55.2%
26.3%
Operating margin (TTM)
25.5%
15.9%
Net margin (TTM)
17.4%
12.6%
Sector
Industrials
Financials
Industry
Industrial - Machinery
Insurance - Property & Casualty
HQ country
US
US
Primary segment
Industrial Precision Solutions
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
67 / 100
75 / 100
Moat domains
Supply, Demand
Supply, Demand
Last update
2025-12-29
2026-01-04

Moat coverage

Shared moat types

Service Field Network

Nordson Corporation strengths

Capex Knowhow ScaleSwitching Costs GeneralInstalled Base ConsumablesDesign In QualificationData Workflow Lockin

The Progressive Corporation strengths

Learning Curve YieldBrand TrustSuite BundlingOperational Excellence

Segment mix

Nordson Corporation segments

Full profile >

Industrial Precision Solutions

Oligopoly

47.7%

Medical and Fluid Solutions

Competitive

29.9%

Advanced Technology Solutions

Oligopoly

22.4%

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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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.