VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

The Progressive Corporation vs Teqnion AB (publ)

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

Teqnion AB (publ)

TEQ · Nasdaq First North Growth Market Sweden

Market cap (USD)$3.1B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
IndustryIndustrial - Distribution
CountrySE
Data as of2026-01-08
Moat score
47/ 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 Teqnion AB (publ)'s moat claims, evidence, and risks.

View TEQ analysis

Comparison highlights

  • Moat score gap: The Progressive Corporation leads (75 / 100 vs 47 / 100 for Teqnion AB (publ)).
  • Segment focus: The Progressive Corporation has 2 segments (85% in Personal Lines); Teqnion AB (publ) has 4 segments.
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs n/a.
  • Moat breadth: The Progressive Corporation has 5 moat types across 2 domains; Teqnion AB (publ) has 8 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%

Teqnion AB (publ)

Acquisition & Portfolio Platform (Active, long-term ownership)

Market

Acquisition and long-term ownership of profitable niche industrial SMEs

Geography

Nordics, UK, Ireland

Customer

Business owners / sellers; subsidiary management teams

Role

Acquirer / holding company / active owner

Side-by-side metrics

The Progressive Corporation
Teqnion AB (publ)
Ticker / Exchange
PGR - New York Stock Exchange
TEQ - Nasdaq First North Growth Market Sweden
Market cap (USD)
$126.1B
$3.1B
Gross margin (TTM)
26.3%
n/a
Operating margin (TTM)
15.9%
n/a
Net margin (TTM)
12.6%
n/a
Sector
Financials
Financials
Industry
Insurance - Property & Casualty
Industrial - Distribution
HQ country
US
SE
Primary segment
Personal Lines
Acquisition & Portfolio Platform (Active, long-term ownership)
Market structure
Oligopoly
Competitive
Market share
16.7% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
n/a
Moat score
75 / 100
47 / 100
Moat domains
Supply, Demand
Supply, Demand
Last update
2026-01-04
2026-01-08

Moat coverage

Shared moat types

Learning Curve YieldOperational Excellence

The Progressive Corporation strengths

Brand TrustService Field NetworkSuite Bundling

Teqnion AB (publ) strengths

Preferential Input AccessScope EconomiesDistribution ControlProcurement InertiaDesign In QualificationSwitching Costs General

Segment mix

The Progressive Corporation segments

Full profile >

Personal Lines

Oligopoly

85%

Commercial Lines

Competitive

15%

Teqnion AB (publ) segments

Full profile >

Acquisition & Portfolio Platform (Active, long-term ownership)

Competitive

n/a

Agency & Distribution Businesses

Competitive

n/a

Niche Product & Service Companies

Competitive

n/a

Manufacturing (Own-brand and Contract/OEM)

Competitive

n/a

Want the full wide moat stocks list?

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Looking for expansion-stage stocks?

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.