VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

PACCAR Inc vs TMX Group Limited

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

PACCAR Inc

PCAR · NASDAQ

Market cap (USD)$59.3B
Gross margin (TTM)17.4%
Operating margin (TTM)11.4%
Net margin (TTM)9.1%
SectorIndustrials
IndustryAgricultural - Machinery
CountryUS
Data as of2026-01-01
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 PACCAR Inc's moat claims, evidence, and risks.

View PCAR analysis

TMX Group Limited

X · Toronto Stock Exchange

Market cap (USD)$14.4B
Gross margin (TTM)59.3%
Operating margin (TTM)38.7%
Net margin (TTM)23.8%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryCA
Data as of2026-01-03
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 TMX Group Limited's moat claims, evidence, and risks.

View X analysis

Comparison highlights

  • Moat score gap: PACCAR Inc leads (75 / 100 vs 70 / 100 for TMX Group Limited).
  • Segment focus: PACCAR Inc has 3 segments (73.8% in Truck); TMX Group Limited has 9 segments (16.1% in Trayport energy trading workflow software and network).
  • Moat breadth: PACCAR Inc has 8 moat types across 3 domains; TMX Group Limited has 12 across 5.

Primary market context

PACCAR Inc

Truck

Market

Commercial truck OEM (heavy- and medium-duty)

Geography

Global (U.S./Canada and Europe primary)

Customer

Fleets, owner-operators, dealers

Role

OEM / manufacturer

Revenue share

73.8%

TMX Group Limited

Trayport energy trading workflow software and network

Market

Wholesale energy trading workflow software and network connectivity

Geography

Europe-centric, with global customers

Customer

Energy traders, brokers, exchanges/venues

Role

Interoperability hub / workflow platform

Revenue share

16.1%

Side-by-side metrics

PACCAR Inc
TMX Group Limited
Ticker / Exchange
PCAR - NASDAQ
X - Toronto Stock Exchange
Market cap (USD)
$59.3B
$14.4B
Gross margin (TTM)
17.4%
59.3%
Operating margin (TTM)
11.4%
38.7%
Net margin (TTM)
9.1%
23.8%
Sector
Industrials
Financials
Industry
Agricultural - Machinery
Financial - Data & Stock Exchanges
HQ country
US
CA
Primary segment
Truck
Trayport energy trading workflow software and network
Market structure
Oligopoly
Oligopoly
Market share
30%-31% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
75 / 100
70 / 100
Moat domains
Demand, Supply, Financial
Legal, Network, Demand, Supply, Financial
Last update
2026-01-01
2026-01-03

Moat coverage

Shared moat types

Brand TrustDistribution Control

PACCAR Inc strengths

Service Field NetworkCapex Knowhow ScaleInstalled Base ConsumablesPhysical Network DensityCost Of Capital AdvantageCaptive finance integration

TMX Group Limited strengths

Concession LicenseTwo Sided NetworkSwitching Costs GeneralCompliance AdvantageScale Economies Unit CostClearing SettlementRegulated Standards PipeInteroperability HubData Workflow LockinBenchmark Pricing Power

Segment mix

PACCAR Inc segments

Full profile >

Truck

Oligopoly

73.8%

Parts

Competitive

19.8%

Financial Services

Competitive

6.2%

TMX Group Limited segments

Full profile >

TSX & TSXV listing and sustaining fees

Oligopoly

10.8%

Issuer services (TSX Trust and TMX Newsfile)

Competitive

7.9%

Equities and fixed income trading venues (TSX, TSXV, TSX Alpha, Shorcan)

Oligopoly

8.8%

Post-trade clearing, settlement and depository (CDS / CDSX)

Quasi-Monopoly

8.6%

Canadian listed derivatives trading and clearing (Montreal Exchange + CDCC, excl. BOX)

Quasi-Monopoly

12.9%

U.S. equity options exchange (BOX)

Competitive

9.6%

Trayport energy trading workflow software and network

Oligopoly

16.1%

TMX Datalinx market data and co-location

Quasi-Monopoly

15.8%

TMX VettaFi indexing, ETF analytics, and digital distribution

Oligopoly

9.5%

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.