VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

The Progressive Corporation vs The Sherwin-Williams Company

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

The Sherwin-Williams Company

SHW · New York Stock Exchange

Market cap (USD)$82.5B
Gross margin (TTM)48.9%
Operating margin (TTM)15.9%
Net margin (TTM)11.1%
SectorMaterials
IndustryChemicals - Specialty
CountryUS
Data as of2025-12-31
Moat score
84/ 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 Sherwin-Williams Company's moat claims, evidence, and risks.

View SHW analysis

Comparison highlights

  • Moat score gap: The Sherwin-Williams Company leads (84 / 100 vs 75 / 100 for The Progressive Corporation).
  • Segment focus: The Progressive Corporation has 2 segments (85% in Personal Lines); The Sherwin-Williams Company has 3 segments (57.1% in Paint Stores Group).
  • Primary market structure: Oligopoly vs Quasi-Monopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: The Progressive Corporation has 5 moat types across 2 domains; The Sherwin-Williams Company has 6 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%

The Sherwin-Williams Company

Paint Stores Group

Market

Company-operated paint & coatings retail (architectural + related products)

Geography

United States, Canada, Caribbean

Customer

Professional contractors and DIY homeowners

Role

Manufacturer-owned retail / distribution

Revenue share

57.1%

Side-by-side metrics

The Progressive Corporation
The Sherwin-Williams Company
Ticker / Exchange
PGR - New York Stock Exchange
SHW - New York Stock Exchange
Market cap (USD)
$124.8B
$82.5B
Gross margin (TTM)
26.3%
48.9%
Operating margin (TTM)
15.9%
15.9%
Net margin (TTM)
12.6%
11.1%
Sector
Financials
Materials
Industry
Insurance - Property & Casualty
Chemicals - Specialty
HQ country
US
US
Primary segment
Personal Lines
Paint Stores Group
Market structure
Oligopoly
Quasi-Monopoly
Market share
16.7% (reported)
69.4% (estimated)
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
75 / 100
84 / 100
Moat domains
Supply, Demand
Supply, Demand, Legal
Last update
2026-01-04
2025-12-31

Moat coverage

Shared moat types

Brand TrustService Field Network

The Progressive Corporation strengths

Learning Curve YieldSuite BundlingOperational Excellence

The Sherwin-Williams Company strengths

Distribution ControlScope EconomiesSwitching Costs GeneralCompliance Advantage

Segment mix

The Progressive Corporation segments

Full profile >

Personal Lines

Oligopoly

85%

Commercial Lines

Competitive

15%

The Sherwin-Williams Company segments

Full profile >

Paint Stores Group

Quasi-Monopoly

57.1%

Consumer Brands Group

Oligopoly

13.5%

Performance Coatings Group

Oligopoly

29.4%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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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.