VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Wide Moat Stocks Home My Collections

Stock Comparison

NIKE, Inc. vs TC Energy Corporation

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

NIKE, Inc.

NKE · New York Stock Exchange

Market cap (USD)$93.4B

Gross margin (TTM)41.1%

Operating margin (TTM)6.5%

Net margin (TTM)5.4%

SectorConsumer

IndustryApparel - Footwear & Accessories

CountryUS

Data as of2025-12-23

Moat score

70/ 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 NIKE, Inc.'s moat claims, evidence, and risks.

View NKE 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 70 / 100 for NIKE, Inc.).
Segment focus: NIKE, Inc. has 3 segments (57.8% in Wholesale); 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: NIKE, Inc. has 6 moat types across 4 domains; TC Energy Corporation has 4 across 3.

Primary market context

NIKE, Inc.

Wholesale

Market

Branded athletic & casual footwear/apparel wholesale distribution

Geography

Global

Customer

Retailers, distributors, licensees

Role

Brand owner / wholesaler

Revenue share

57.8%

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

NIKE, Inc.

TC Energy Corporation

Ticker / Exchange

NKE - New York Stock Exchange

TRP - New York Stock Exchange

Market cap (USD)

$93.4B

$37B

Gross margin (TTM)

41.1%

n/a

Operating margin (TTM)

6.5%

n/a

Net margin (TTM)

5.4%

n/a

Sector

Consumer

Energy

Industry

Apparel - Footwear & Accessories

n/a

HQ country

Primary segment

Wholesale

U.S. Natural Gas Pipelines

Market structure

Competitive

Oligopoly

Market share

n/a

HHI estimate

n/a

Pricing power

Moderate

Weak

Moat score

70 / 100

80 / 100

Moat domains

Demand, Supply, Network, Legal

Legal, Demand, Supply

Last update

2025-12-23

2026-01-02

Moat coverage

Shared moat types

No overlap yet.

NIKE, Inc. strengths

Brand TrustProcurement InertiaScale Economies Unit CostDistribution ControlEcosystem ComplementsIP Choke Point

TC Energy Corporation strengths

Regulated Standards PipeLong Term ContractsPhysical Network DensityGovernment Contracting Relationships

Segment mix

NIKE, Inc. segments

Full profile >

Wholesale

Competitive

57.8%

Direct to Consumer (DTC)

Competitive

42.1%

Brand licensing & other

Competitive

0.2%

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?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

View the moat stocks list

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.