VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

The Progressive Corporation vs Roche Holding AG

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

Roche Holding AG

ROG · SIX Swiss Exchange

Market cap (USD)$258.5B
Gross margin (TTM)73.6%
Operating margin (TTM)29.1%
Net margin (TTM)15.4%
SectorHealthcare
IndustryDrug Manufacturers - General
CountryCH
Data as of2025-12-28
Moat score
68/ 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 Roche Holding AG's moat claims, evidence, and risks.

View ROG analysis

Comparison highlights

  • Moat score gap: The Progressive Corporation leads (75 / 100 vs 68 / 100 for Roche Holding AG).
  • Segment focus: The Progressive Corporation has 2 segments (85% in Personal Lines); Roche Holding AG has 2 segments (76.3% in Pharmaceuticals).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: The Progressive Corporation has 5 moat types across 2 domains; Roche Holding AG 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%

Roche Holding AG

Pharmaceuticals

Market

Innovative (branded) prescription pharmaceuticals

Geography

Global

Customer

Healthcare providers and systems (hospitals/clinics), payers/governments, and patients

Role

Innovator pharmaceutical developer, manufacturer and marketer

Revenue share

76.3%

Side-by-side metrics

The Progressive Corporation
Roche Holding AG
Ticker / Exchange
PGR - New York Stock Exchange
ROG - SIX Swiss Exchange
Market cap (USD)
$124.8B
$258.5B
Gross margin (TTM)
26.3%
73.6%
Operating margin (TTM)
15.9%
29.1%
Net margin (TTM)
12.6%
15.4%
Sector
Financials
Healthcare
Industry
Insurance - Property & Casualty
Drug Manufacturers - General
HQ country
US
CH
Primary segment
Personal Lines
Pharmaceuticals
Market structure
Oligopoly
Competitive
Market share
16.7% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
75 / 100
68 / 100
Moat domains
Supply, Demand
Legal, Supply, Demand
Last update
2026-01-04
2025-12-28

Moat coverage

Shared moat types

No overlap yet.

The Progressive Corporation strengths

Learning Curve YieldBrand TrustService Field NetworkSuite BundlingOperational Excellence

Roche Holding AG strengths

IP Choke PointCapex Knowhow ScaleInstalled Base ConsumablesData Workflow LockinRegulated Standards Pipe

Segment mix

The Progressive Corporation segments

Full profile >

Personal Lines

Oligopoly

85%

Commercial Lines

Competitive

15%

Roche Holding AG segments

Full profile >

Pharmaceuticals

Competitive

76.3%

Diagnostics

Oligopoly

23.7%

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.