VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Prologis, Inc. vs TC Energy Corporation

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Prologis, Inc.

PLD · New York Stock Exchange

Market cap (USD)$119.1B
Gross margin (TTM)67.7%
Operating margin (TTM)47%
Net margin (TTM)36.7%
SectorReal Estate
IndustryREIT - Industrial
CountryUS
Data as of2025-12-31
Moat score
67/ 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 Prologis, Inc.'s moat claims, evidence, and risks.

View PLD analysis

TC Energy Corporation

TRP · New York Stock Exchange

Market cap (USD)$37B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorEnergy
Industry
CountryCA
Data as of2026-01-02
Moat score
80/ 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 TC Energy Corporation's moat claims, evidence, and risks.

View TRP analysis

Comparison highlights

  • Moat score gap: TC Energy Corporation leads (80 / 100 vs 67 / 100 for Prologis, Inc.).
  • Segment focus: Prologis, Inc. has 2 segments (91.8% in Real Estate (Rental Operations and Development)); TC Energy Corporation has 4 segments (46.1% in U.S. Natural Gas Pipelines).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Strong vs Weak.
  • Moat breadth: Prologis, Inc. has 7 moat types across 4 domains; TC Energy Corporation has 4 across 3.

Primary market context

Prologis, Inc.

Real Estate (Rental Operations and Development)

Market

Logistics/industrial real estate leasing & development

Geography

Global

Customer

Logistics users (retail, e-commerce, 3PL, manufacturing)

Role

Owner/operator/developer (landlord)

Revenue share

91.8%

TC Energy Corporation

U.S. Natural Gas Pipelines

Market

U.S. interstate natural gas pipeline transportation (FERC-regulated)

Geography

United States

Customer

Utilities/LDCs, power generators, LNG/export facilities, industrial users and marketers (as shippers)

Role

Midstream pipeline operator

Revenue share

46.1%

Side-by-side metrics

Prologis, Inc.
TC Energy Corporation
Ticker / Exchange
PLD - New York Stock Exchange
TRP - New York Stock Exchange
Market cap (USD)
$119.1B
$37B
Gross margin (TTM)
67.7%
n/a
Operating margin (TTM)
47%
n/a
Net margin (TTM)
36.7%
n/a
Sector
Real Estate
Energy
Industry
REIT - Industrial
n/a
HQ country
US
CA
Primary segment
Real Estate (Rental Operations and Development)
U.S. Natural Gas Pipelines
Market structure
Competitive
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Weak
Moat score
67 / 100
80 / 100
Moat domains
Supply, Legal, Financial, Demand
Legal, Demand, Supply
Last update
2025-12-31
2026-01-02

Moat coverage

Shared moat types

Long Term Contracts

Prologis, Inc. strengths

Geographic NaturalPermits Rights Of WayScale Economies Unit CostCost Of Capital AdvantageProcurement InertiaReputation Reviews

TC Energy Corporation strengths

Regulated Standards PipePhysical Network DensityGovernment Contracting Relationships

Segment mix

Prologis, Inc. segments

Full profile >

Real Estate (Rental Operations and Development)

Competitive

91.8%

Strategic Capital (co-investment ventures / investment management)

Competitive

8.2%

TC Energy Corporation segments

Full profile >

Canadian Natural Gas Pipelines

Quasi-Monopoly

40.7%

U.S. Natural Gas Pipelines

Oligopoly

46.1%

Mexico Natural Gas Pipelines

Oligopoly

6.3%

Power and Energy Solutions

Competitive

6.9%

Want the full wide moat stocks list?

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

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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.