VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

The Progressive Corporation vs Symrise 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

Symrise AG

SY1 · Xetra

Market cap (USD)$9.5B
Gross margin (TTM)40.3%
Operating margin (TTM)0.7%
Net margin (TTM)10.2%
SectorMaterials
IndustryChemicals - Specialty
CountryDE
Data as of2025-12-29
Moat score
69/ 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 Symrise AG's moat claims, evidence, and risks.

View SY1 analysis

Comparison highlights

  • Moat score gap: The Progressive Corporation leads (75 / 100 vs 69 / 100 for Symrise AG).
  • Segment focus: The Progressive Corporation has 2 segments (85% in Personal Lines); Symrise AG has 2 segments (61.8% in Taste, Nutrition & Health).
  • Moat breadth: The Progressive Corporation has 5 moat types across 2 domains; Symrise 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%

Symrise AG

Taste, Nutrition & Health

Market

Food & beverage flavor ingredients and pet food ingredients

Geography

Global

Customer

B2B (food & beverage, pet food, aquafeed manufacturers)

Role

Ingredient/formulation supplier

Revenue share

61.8%

Side-by-side metrics

The Progressive Corporation
Symrise AG
Ticker / Exchange
PGR - New York Stock Exchange
SY1 - Xetra
Market cap (USD)
$124.8B
$9.5B
Gross margin (TTM)
26.3%
40.3%
Operating margin (TTM)
15.9%
0.7%
Net margin (TTM)
12.6%
10.2%
Sector
Financials
Materials
Industry
Insurance - Property & Casualty
Chemicals - Specialty
HQ country
US
DE
Primary segment
Personal Lines
Taste, Nutrition & Health
Market structure
Oligopoly
Oligopoly
Market share
16.7% (reported)
12%-16% (implied)
HHI estimate
n/a
958
Pricing power
Moderate
Moderate
Moat score
75 / 100
69 / 100
Moat domains
Supply, Demand
Demand, Supply, Legal
Last update
2026-01-04
2025-12-29

Moat coverage

Shared moat types

No overlap yet.

The Progressive Corporation strengths

Learning Curve YieldBrand TrustService Field NetworkSuite BundlingOperational Excellence

Symrise AG strengths

Design In QualificationPreferential Input AccessScope EconomiesIP Choke PointCapex Knowhow Scale

Segment mix

The Progressive Corporation segments

Full profile >

Personal Lines

Oligopoly

85%

Commercial Lines

Competitive

15%

Symrise AG segments

Full profile >

Taste, Nutrition & Health

Oligopoly

61.8%

Scent & Care

Oligopoly

38.2%

Want the full wide moat stocks list?

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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.