VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

The Progressive Corporation vs Synopsys, Inc.

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

Synopsys, Inc.

SNPS · NASDAQ

Market cap (USD)$94.5B
Gross margin (TTM)73.1%
Operating margin (TTM)13%
Net margin (TTM)18.9%
SectorTechnology
IndustrySoftware - Infrastructure
CountryUS
Data as of2025-12-29
Moat score
85/ 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 Synopsys, Inc.'s moat claims, evidence, and risks.

View SNPS analysis

Comparison highlights

  • Moat score gap: Synopsys, Inc. leads (85 / 100 vs 75 / 100 for The Progressive Corporation).
  • Segment focus: The Progressive Corporation has 2 segments (85% in Personal Lines); Synopsys, Inc. has 2 segments (75.2% in Design Automation).
  • Moat breadth: The Progressive Corporation has 5 moat types across 2 domains; Synopsys, Inc. has 5 across 2.

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%

Synopsys, Inc.

Design Automation

Market

Electronic design automation (EDA) software and silicon-to-systems simulation & analysis tools

Geography

Global

Customer

Semiconductor and systems companies (chip/system designers)

Role

Software + hardware tooling provider / platform

Revenue share

75.2%

Side-by-side metrics

The Progressive Corporation
Synopsys, Inc.
Ticker / Exchange
PGR - New York Stock Exchange
SNPS - NASDAQ
Market cap (USD)
$124.8B
$94.5B
Gross margin (TTM)
26.3%
73.1%
Operating margin (TTM)
15.9%
13%
Net margin (TTM)
12.6%
18.9%
Sector
Financials
Technology
Industry
Insurance - Property & Casualty
Software - Infrastructure
HQ country
US
US
Primary segment
Personal Lines
Design Automation
Market structure
Oligopoly
Oligopoly
Market share
16.7% (reported)
30%-32% (reported)
HHI estimate
n/a
2,140
Pricing power
Moderate
Moderate
Moat score
75 / 100
85 / 100
Moat domains
Supply, Demand
Demand, Supply
Last update
2026-01-04
2025-12-29

Moat coverage

Shared moat types

Suite Bundling

The Progressive Corporation strengths

Learning Curve YieldBrand TrustService Field NetworkOperational Excellence

Synopsys, Inc. strengths

Switching Costs GeneralCapex Knowhow ScaleDesign In QualificationInstalled Base Consumables

Segment mix

The Progressive Corporation segments

Full profile >

Personal Lines

Oligopoly

85%

Commercial Lines

Competitive

15%

Synopsys, Inc. segments

Full profile >

Design Automation

Oligopoly

75.2%

Design IP

Oligopoly

24.8%

Want the full wide moat stocks list?

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

View the moat stocks list

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.