VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Norfolk Southern Corporation vs Universal Music Group N.V.

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

Norfolk Southern Corporation

NSC · New York Stock Exchange

Market cap (USD)$65B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorIndustrials
IndustryRailroads
CountryUS
Data as of2026-01-02
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 Norfolk Southern Corporation's moat claims, evidence, and risks.

View NSC analysis

Universal Music Group N.V.

UMG · Euronext Amsterdam

Market cap (USD)$40.3B
Gross margin (TTM)40.4%
Operating margin (TTM)10.4%
Net margin (TTM)17.5%
SectorCommunication Services
IndustryEntertainment
CountryNL
Data as of2025-12-28
Moat score
77/ 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 Universal Music Group N.V.'s moat claims, evidence, and risks.

View UMG analysis

Comparison highlights

  • Moat score gap: Universal Music Group N.V. leads (77 / 100 vs 70 / 100 for Norfolk Southern Corporation).
  • Segment focus: Norfolk Southern Corporation has 3 segments (62% in Merchandise); Universal Music Group N.V. has 3 segments (75.2% in Recorded Music).
  • Moat breadth: Norfolk Southern Corporation has 4 moat types across 3 domains; Universal Music Group N.V. has 5 across 3.

Primary market context

Norfolk Southern Corporation

Merchandise

Market

Eastern U.S. freight rail transportation for industrial & consumer goods

Geography

United States (Southeast/East/Midwest; NS network + interchanges)

Customer

Manufacturers, producers, and distributors

Role

Rail carrier

Revenue share

62%

Universal Music Group N.V.

Recorded Music

Market

Recorded music rights (labels) and monetization (streaming, physical, licensing/sync)

Geography

Global

Customer

Digital service providers (audio/video/social), physical retailers, and licensing counterparties

Role

Label / master rights holder; artist development, marketing and distribution

Revenue share

75.2%

Side-by-side metrics

Norfolk Southern Corporation
Universal Music Group N.V.
Ticker / Exchange
NSC - New York Stock Exchange
UMG - Euronext Amsterdam
Market cap (USD)
$65B
$40.3B
Gross margin (TTM)
n/a
40.4%
Operating margin (TTM)
n/a
10.4%
Net margin (TTM)
n/a
17.5%
Sector
Industrials
Communication Services
Industry
Railroads
Entertainment
HQ country
US
NL
Primary segment
Merchandise
Recorded Music
Market structure
Oligopoly
Oligopoly
Market share
n/a
31%-33% (estimated)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
70 / 100
77 / 100
Moat domains
Supply, Legal, Demand
Legal, Supply, Demand
Last update
2026-01-02
2025-12-28

Moat coverage

Shared moat types

Scale Economies Unit Cost

Norfolk Southern Corporation strengths

Physical Network DensityPermits Rights Of WaySwitching Costs General

Universal Music Group N.V. strengths

Content Rights CurrencyBrand TrustLong Term ContractsService Field Network

Segment mix

Norfolk Southern Corporation segments

Full profile >

Merchandise

Oligopoly

62%

Intermodal

Oligopoly

25%

Coal

Oligopoly

13%

Universal Music Group N.V. segments

Full profile >

Recorded Music

Oligopoly

75.2%

Music Publishing

Oligopoly

17.9%

Merchandising and Other

Competitive

7.1%

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.