VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

The Progressive Corporation vs WiseTech Global Limited

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

WiseTech Global Limited

WTC · ASX

Market cap (USD)$21.7B
Gross margin (TTM)83.6%
Operating margin (TTM)37.2%
Net margin (TTM)25.6%
SectorTechnology
IndustrySoftware - Application
CountryAU
Data as of2025-12-29
Moat score
86/ 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 WiseTech Global Limited's moat claims, evidence, and risks.

View WTC analysis

Comparison highlights

  • Moat score gap: WiseTech Global Limited leads (86 / 100 vs 75 / 100 for The Progressive Corporation).
  • Segment focus: The Progressive Corporation has 2 segments (85% in Personal Lines); WiseTech Global Limited has 3 segments (87.6% in CargoWise).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: The Progressive Corporation has 5 moat types across 2 domains; WiseTech Global Limited has 6 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%

WiseTech Global Limited

CargoWise

Market

Enterprise logistics execution software for freight forwarders, customs brokers and 3PLs (CargoWise platform)

Geography

Global

Customer

Logistics service providers (freight forwarders, customs brokers, 3PLs)

Role

SaaS software platform vendor

Revenue share

87.6%

Side-by-side metrics

The Progressive Corporation
WiseTech Global Limited
Ticker / Exchange
PGR - New York Stock Exchange
WTC - ASX
Market cap (USD)
$124.8B
$21.7B
Gross margin (TTM)
26.3%
83.6%
Operating margin (TTM)
15.9%
37.2%
Net margin (TTM)
12.6%
25.6%
Sector
Financials
Technology
Industry
Insurance - Property & Casualty
Software - Application
HQ country
US
AU
Primary segment
Personal Lines
CargoWise
Market structure
Oligopoly
Oligopoly
Market share
16.7% (reported)
96% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
75 / 100
86 / 100
Moat domains
Supply, Demand
Demand, Network
Last update
2026-01-04
2025-12-29

Moat coverage

Shared moat types

Suite Bundling

The Progressive Corporation strengths

Learning Curve YieldBrand TrustService Field NetworkOperational Excellence

WiseTech Global Limited strengths

Data Workflow LockinEcosystem ComplementsLegacy installed-base tailTwo Sided NetworkData Network Effects

Segment mix

The Progressive Corporation segments

Full profile >

Personal Lines

Oligopoly

85%

Commercial Lines

Competitive

15%

WiseTech Global Limited segments

Full profile >

CargoWise

Oligopoly

87.6%

Non-CargoWise acquired platforms (legacy)

Competitive

12.4%

e2open (multi-enterprise supply chain applications & network; acquired)

Oligopoly

n/a

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

View the moat stocks list

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.