VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

The Progressive Corporation vs United Parcel Service, 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

United Parcel Service, Inc.

UPS · New York Stock Exchange

Market cap (USD)$86.5B
Gross margin (TTM)18.1%
Operating margin (TTM)9.3%
Net margin (TTM)6.2%
SectorIndustrials
IndustryIntegrated Freight & Logistics
CountryUS
Data as of2025-12-22
Moat score
72/ 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 United Parcel Service, Inc.'s moat claims, evidence, and risks.

View UPS analysis

Comparison highlights

  • Moat score gap: The Progressive Corporation leads (75 / 100 vs 72 / 100 for United Parcel Service, Inc.).
  • Segment focus: The Progressive Corporation has 2 segments (85% in Personal Lines); United Parcel Service, Inc. has 3 segments (66.3% in U.S. Domestic Package).
  • Moat breadth: The Progressive Corporation has 5 moat types across 2 domains; United Parcel Service, Inc. has 8 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%

United Parcel Service, Inc.

U.S. Domestic Package

Market

U.S. small parcel and time-definite package delivery

Geography

United States

Customer

B2B and B2C shippers (including e-commerce)

Role

Integrated parcel carrier (pickup, sort, linehaul, last-mile)

Revenue share

66.3%

Side-by-side metrics

The Progressive Corporation
United Parcel Service, Inc.
Ticker / Exchange
PGR - New York Stock Exchange
UPS - New York Stock Exchange
Market cap (USD)
$124.8B
$86.5B
Gross margin (TTM)
26.3%
18.1%
Operating margin (TTM)
15.9%
9.3%
Net margin (TTM)
12.6%
6.2%
Sector
Financials
Industrials
Industry
Insurance - Property & Casualty
Integrated Freight & Logistics
HQ country
US
US
Primary segment
Personal Lines
U.S. Domestic Package
Market structure
Oligopoly
Oligopoly
Market share
16.7% (reported)
34.3% (reported)
HHI estimate
n/a
2,639
Pricing power
Moderate
Moderate
Moat score
75 / 100
72 / 100
Moat domains
Supply, Demand
Supply, Financial, Demand
Last update
2026-01-04
2025-12-22

Moat coverage

Shared moat types

Brand TrustService Field NetworkOperational Excellence

The Progressive Corporation strengths

Learning Curve YieldSuite Bundling

United Parcel Service, Inc. strengths

Physical Network DensityScale Economies Unit CostBenchmark Pricing PowerData Workflow LockinScope Economies

Segment mix

The Progressive Corporation segments

Full profile >

Personal Lines

Oligopoly

85%

Commercial Lines

Competitive

15%

United Parcel Service, Inc. segments

Full profile >

U.S. Domestic Package

Oligopoly

66.3%

International Package

Oligopoly

19.7%

Supply Chain Solutions

Competitive

14%

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.