VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Nestle S.A. vs The Progressive Corporation

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

Nestle S.A.

NESN · SIX Swiss Exchange

Market cap (USD)$195.8B
Gross margin (TTM)46.8%
Operating margin (TTM)15.5%
Net margin (TTM)11.8%
SectorConsumer
IndustryPackaged Foods
CountryCH
Data as of2025-12-30
Moat score
57/ 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 Nestle S.A.'s moat claims, evidence, and risks.

View NESN 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 57 / 100 for Nestle S.A.).
  • Segment focus: Nestle S.A. has 7 segments (26.9% in Powdered and Liquid Beverages); The Progressive Corporation has 2 segments (85% in Personal Lines).
  • Moat breadth: Nestle S.A. has 6 moat types across 3 domains; The Progressive Corporation has 5 across 2.

Primary market context

Nestle S.A.

Powdered and Liquid Beverages

Market

Packaged coffee (instant, roast and ground, portioned) and other powdered beverages (cocoa/malt, creamers)

Geography

Global

Customer

Consumers (end-users) via retail and e-commerce; plus out-of-home channels

Role

Branded manufacturer and marketer; system operator for portioned coffee (machines + capsules)

Revenue share

26.9%

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

Nestle S.A.
The Progressive Corporation
Ticker / Exchange
NESN - SIX Swiss Exchange
PGR - New York Stock Exchange
Market cap (USD)
$195.8B
$124.8B
Gross margin (TTM)
46.8%
26.3%
Operating margin (TTM)
15.5%
15.9%
Net margin (TTM)
11.8%
12.6%
Sector
Consumer
Financials
Industry
Packaged Foods
Insurance - Property & Casualty
HQ country
CH
US
Primary segment
Powdered and Liquid Beverages
Personal Lines
Market structure
Oligopoly
Oligopoly
Market share
25% (reported)
16.7% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
57 / 100
75 / 100
Moat domains
Demand, Supply, Legal
Supply, Demand
Last update
2025-12-30
2026-01-04

Moat coverage

Shared moat types

Brand TrustLearning Curve Yield

Nestle S.A. strengths

Preferential Input AccessInstalled Base ConsumablesDistribution ControlCompliance Advantage

The Progressive Corporation strengths

Service Field NetworkSuite BundlingOperational Excellence

Segment mix

Nestle S.A. segments

Full profile >

Powdered and Liquid Beverages

Oligopoly

26.9%

PetCare

Oligopoly

20.7%

Nutrition and Health Science

Oligopoly

16.6%

Prepared dishes and cooking aids

Competitive

11.7%

Milk products and Ice cream

Competitive

11.4%

Confectionery

Oligopoly

9.2%

Water

Competitive

3.5%

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.