VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

The Progressive Corporation vs The Italian Sea Group S.p.A.

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

The Italian Sea Group S.p.A.

TISG · Euronext Milan (Borsa Italiana)

Market cap (USD)$241.7M
Gross margin (TTM)70.9%
Operating margin (TTM)12.1%
Net margin (TTM)3.8%
SectorConsumer
IndustryLeisure
CountryIT
Data as of2026-01-08
Moat score
61/ 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 Italian Sea Group S.p.A.'s moat claims, evidence, and risks.

View TISG analysis

Comparison highlights

  • Moat score gap: The Progressive Corporation leads (75 / 100 vs 61 / 100 for The Italian Sea Group S.p.A.).
  • Segment focus: The Progressive Corporation has 2 segments (85% in Personal Lines); The Italian Sea Group S.p.A. has 2 segments (89.7% in Shipbuilding).
  • Moat breadth: The Progressive Corporation has 5 moat types across 2 domains; The Italian Sea Group S.p.A. 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%

The Italian Sea Group S.p.A.

Shipbuilding

Market

Luxury yacht and superyacht shipbuilding (motor and sailing, 24m+ projects under construction/contract)

Geography

Global

Customer

Ultra-high-net-worth individuals (owners) and yacht brokers; occasional fleet/charter buyers

Role

Designer/shipyard (OEM) and brand owner

Revenue share

89.7%

Side-by-side metrics

The Progressive Corporation
The Italian Sea Group S.p.A.
Ticker / Exchange
PGR - New York Stock Exchange
TISG - Euronext Milan (Borsa Italiana)
Market cap (USD)
$126.1B
$241.7M
Gross margin (TTM)
26.3%
70.9%
Operating margin (TTM)
15.9%
12.1%
Net margin (TTM)
12.6%
3.8%
Sector
Financials
Consumer
Industry
Insurance - Property & Casualty
Leisure
HQ country
US
IT
Primary segment
Personal Lines
Shipbuilding
Market structure
Oligopoly
Oligopoly
Market share
16.7% (reported)
1.8%-2.2% (implied)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
75 / 100
61 / 100
Moat domains
Supply, Demand
Demand, Supply, Legal
Last update
2026-01-04
2026-01-08

Moat coverage

Shared moat types

Brand TrustOperational Excellence

The Progressive Corporation strengths

Learning Curve YieldService Field NetworkSuite Bundling

The Italian Sea Group S.p.A. strengths

Supply Chain ControlConcession LicenseLong Term Contracts

Segment mix

The Progressive Corporation segments

Full profile >

Personal Lines

Oligopoly

85%

Commercial Lines

Competitive

15%

The Italian Sea Group S.p.A. segments

Full profile >

Shipbuilding

Oligopoly

89.7%

Refit

Competitive

10.3%

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.