VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

The Progressive Corporation vs Ferrari N.V.

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

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

Ferrari N.V.

RACE · New York Stock Exchange

Market cap (USD)$67.7B
Gross margin (TTM)51.3%
Operating margin (TTM)29.3%
Net margin (TTM)22.6%
SectorConsumer
IndustryAuto - Manufacturers
CountryNL
Data as of2025-12-31
Moat score
81/ 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 Ferrari N.V.'s moat claims, evidence, and risks.

View RACE analysis

Comparison highlights

  • Moat score gap: Ferrari N.V. leads (81 / 100 vs 75 / 100 for The Progressive Corporation).
  • Segment focus: The Progressive Corporation has 2 segments (85% in Personal Lines); Ferrari N.V. has 3 segments (85.8% in Cars and spare parts).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: The Progressive Corporation has 5 moat types across 2 domains; Ferrari N.V. has 5 across 3.

Primary market context

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%

Ferrari N.V.

Cars and spare parts

Market

Luxury performance cars and OEM spare parts/after-sales

Geography

Global

Customer

High-net-worth individuals and collectors; sales and service via authorized dealers

Role

OEM / brand owner with selective dealer distribution

Revenue share

85.8%

Side-by-side metrics

The Progressive Corporation
Ferrari N.V.
Ticker / Exchange
PGR - New York Stock Exchange
RACE - New York Stock Exchange
Market cap (USD)
$124.8B
$67.7B
Gross margin (TTM)
26.3%
51.3%
Operating margin (TTM)
15.9%
29.3%
Net margin (TTM)
12.6%
22.6%
Sector
Financials
Consumer
Industry
Insurance - Property & Casualty
Auto - Manufacturers
HQ country
US
NL
Primary segment
Personal Lines
Cars and spare parts
Market structure
Oligopoly
Oligopoly
Market share
16.7% (reported)
23% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
75 / 100
81 / 100
Moat domains
Supply, Demand
Demand, Supply, Legal
Last update
2026-01-04
2025-12-31

Moat coverage

Shared moat types

Brand Trust

The Progressive Corporation strengths

Learning Curve YieldService Field NetworkSuite BundlingOperational Excellence

Ferrari N.V. strengths

Capacity MoatDistribution ControlInstalled Base ConsumablesIP Choke Point

Segment mix

The Progressive Corporation segments

Full profile >

Personal Lines

Oligopoly

85%

Commercial Lines

Competitive

15%

Ferrari N.V. segments

Full profile >

Cars and spare parts

Oligopoly

85.8%

Sponsorship, commercial and brand

Competitive

10%

Other

Competitive

4.2%

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.