VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

The Progressive Corporation vs Siemens Healthineers 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

Siemens Healthineers AG

SHL · XETRA

Market cap (USD)$50.7B
Gross margin (TTM)38.6%
Operating margin (TTM)14.7%
Net margin (TTM)9.2%
SectorHealthcare
IndustryMedical - Devices
CountryDE
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 Siemens Healthineers AG's moat claims, evidence, and risks.

View SHL analysis

Comparison highlights

  • Moat score gap: The Progressive Corporation leads (75 / 100 vs 68 / 100 for Siemens Healthineers AG).
  • Segment focus: The Progressive Corporation has 2 segments (85% in Personal Lines); Siemens Healthineers AG has 4 segments (54.6% in Imaging).
  • Moat breadth: The Progressive Corporation has 5 moat types across 2 domains; Siemens Healthineers AG has 8 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%

Siemens Healthineers AG

Imaging

Market

Diagnostic medical imaging equipment and related software/services (MRI, CT, X-ray, molecular imaging, ultrasound)

Geography

Global

Customer

Hospitals, imaging centers, clinics, and integrated delivery networks

Role

OEM + digital platform and service provider

Revenue share

54.6%

Side-by-side metrics

The Progressive Corporation
Siemens Healthineers AG
Ticker / Exchange
PGR - New York Stock Exchange
SHL - XETRA
Market cap (USD)
$124.8B
$50.7B
Gross margin (TTM)
26.3%
38.6%
Operating margin (TTM)
15.9%
14.7%
Net margin (TTM)
12.6%
9.2%
Sector
Financials
Healthcare
Industry
Insurance - Property & Casualty
Medical - Devices
HQ country
US
DE
Primary segment
Personal Lines
Imaging
Market structure
Oligopoly
Oligopoly
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
Supply, Demand, Network
Last update
2026-01-04
2025-12-28

Moat coverage

Shared moat types

Service Field Network

The Progressive Corporation strengths

Learning Curve YieldBrand TrustSuite BundlingOperational Excellence

Siemens Healthineers AG strengths

Data Workflow LockinCapex Knowhow ScaleLong Term ContractsInstalled Base ConsumablesDesign In QualificationEcosystem ComplementsSwitching Costs General

Segment mix

The Progressive Corporation segments

Full profile >

Personal Lines

Oligopoly

85%

Commercial Lines

Competitive

15%

Siemens Healthineers AG segments

Full profile >

Imaging

Oligopoly

54.6%

Diagnostics

Oligopoly

18.7%

Varian

Oligopoly

17.6%

Advanced Therapies

Oligopoly

9.1%

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.