VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

The Progressive Corporation vs SS&C Technologies Holdings, 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)$126.1B
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

SS&C Technologies Holdings, Inc.

SSNC · NASDAQ

Market cap (USD)$21.2B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorTechnology
Industry
CountryUS
Data as of2026-01-11
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 SS&C Technologies Holdings, Inc.'s moat claims, evidence, and risks.

View SSNC analysis

Comparison highlights

  • Moat score gap: The Progressive Corporation leads (75 / 100 vs 68 / 100 for SS&C Technologies Holdings, Inc.).
  • Segment focus: The Progressive Corporation has 2 segments (85% in Personal Lines); SS&C Technologies Holdings, Inc. has 3 segments (82.3% in Software-enabled services).
  • Moat breadth: The Progressive Corporation has 5 moat types across 2 domains; SS&C Technologies Holdings, Inc. has 7 across 4.

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%

SS&C Technologies Holdings, Inc.

Software-enabled services

Market

Software-enabled outsourcing and subscription services for financial services and healthcare (fund administration, transfer agency, middle/back office BPO, managed IT)

Geography

Global

Customer

Financial services firms (asset/wealth managers, alternative managers, banks, insurers) and healthcare payers/administrators

Role

Service provider / outsourcer (SaaS + BPO)

Revenue share

82.3%

Side-by-side metrics

The Progressive Corporation
SS&C Technologies Holdings, Inc.
Ticker / Exchange
PGR - New York Stock Exchange
SSNC - NASDAQ
Market cap (USD)
$126.1B
$21.2B
Gross margin (TTM)
26.3%
n/a
Operating margin (TTM)
15.9%
n/a
Net margin (TTM)
12.6%
n/a
Sector
Financials
Technology
Industry
Insurance - Property & Casualty
n/a
HQ country
US
US
Primary segment
Personal Lines
Software-enabled services
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
Demand, Supply, Legal, Network
Last update
2026-01-04
2026-01-11

Moat coverage

Shared moat types

Suite Bundling

The Progressive Corporation strengths

Learning Curve YieldBrand TrustService Field NetworkOperational Excellence

SS&C Technologies Holdings, Inc. strengths

Data Workflow LockinScale Economies Unit CostCompliance AdvantageLong Term ContractsTwo Sided NetworkInteroperability Hub

Segment mix

The Progressive Corporation segments

Full profile >

Personal Lines

Oligopoly

85%

Commercial Lines

Competitive

15%

SS&C Technologies Holdings, Inc. segments

Full profile >

Software-enabled services

Oligopoly

82.3%

License, maintenance and related

Oligopoly

17.7%

Funds network connectivity (Calastone)

Oligopoly

n/a

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.