VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Northrop Grumman Corporation vs The Progressive Corporation

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

Northrop Grumman Corporation

NOC · New York Stock Exchange

Market cap (USD)$87.2B
Gross margin (TTM)19.4%
Operating margin (TTM)10.6%
Net margin (TTM)9.8%
SectorIndustrials
IndustryAerospace & Defense
CountryUS
Data as of2025-12-26
Moat score
72/ 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 Northrop Grumman Corporation's moat claims, evidence, and risks.

View NOC 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 72 / 100 for Northrop Grumman Corporation).
  • Segment focus: Northrop Grumman Corporation has 4 segments (28.7% in Aeronautics Systems); The Progressive Corporation has 2 segments (85% in Personal Lines).
  • Moat breadth: Northrop Grumman Corporation has 6 moat types across 3 domains; The Progressive Corporation has 5 across 2.

Primary market context

Northrop Grumman Corporation

Aeronautics Systems

Market

Military aircraft systems (manned & unmanned) plus sustainment/modernization

Geography

Global (primarily United States and allies)

Customer

U.S. government and allied governments

Role

Prime contractor and major subsystem supplier

Revenue share

28.7%

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

Northrop Grumman Corporation
The Progressive Corporation
Ticker / Exchange
NOC - New York Stock Exchange
PGR - New York Stock Exchange
Market cap (USD)
$87.2B
$124.8B
Gross margin (TTM)
19.4%
26.3%
Operating margin (TTM)
10.6%
15.9%
Net margin (TTM)
9.8%
12.6%
Sector
Industrials
Financials
Industry
Aerospace & Defense
Insurance - Property & Casualty
HQ country
US
US
Primary segment
Aeronautics Systems
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
72 / 100
75 / 100
Moat domains
Legal, Demand, Supply
Supply, Demand
Last update
2025-12-26
2026-01-04

Moat coverage

Shared moat types

No overlap yet.

Northrop Grumman Corporation strengths

Government Contracting RelationshipsDesign In QualificationCompliance AdvantageCapacity MoatSwitching Costs GeneralCapex Knowhow Scale

The Progressive Corporation strengths

Learning Curve YieldBrand TrustService Field NetworkSuite BundlingOperational Excellence

Segment mix

Northrop Grumman Corporation segments

Full profile >

Aeronautics Systems

Oligopoly

28.7%

Defense Systems

Oligopoly

18.8%

Mission Systems

Oligopoly

24.9%

Space Systems

Oligopoly

27.6%

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.