VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Ferrari N.V. vs TC Energy Corporation

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

Ferrari N.V.

RACE · New York Stock Exchange

Market cap (USD)$66.3B
Gross margin (TTM)51.3%
Operating margin (TTM)29.3%
Net margin (TTM)22.6%
SectorConsumer
IndustryAuto - Manufacturers
CountryNL
Data as of2025-12-31
Moat score
81/ 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 Ferrari N.V.'s moat claims, evidence, and risks.

View RACE 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: Ferrari N.V. leads (81 / 100 vs 80 / 100 for TC Energy Corporation).
  • Segment focus: Ferrari N.V. has 3 segments (85.8% in Cars and spare parts); TC Energy Corporation has 4 segments (46.1% in U.S. Natural Gas Pipelines).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Weak.
  • Moat breadth: Ferrari N.V. has 5 moat types across 3 domains; TC Energy Corporation has 4 across 3.

Primary market context

Ferrari N.V.

Cars and spare parts

Market

Luxury performance cars and OEM spare parts/after-sales

Geography

Global

Customer

High-net-worth individuals and collectors; sales and service via authorized dealers

Role

OEM / brand owner with selective dealer distribution

Revenue share

85.8%

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

Ferrari N.V.
TC Energy Corporation
Ticker / Exchange
RACE - New York Stock Exchange
TRP - New York Stock Exchange
Market cap (USD)
$66.3B
$37B
Gross margin (TTM)
51.3%
n/a
Operating margin (TTM)
29.3%
n/a
Net margin (TTM)
22.6%
n/a
Sector
Consumer
Energy
Industry
Auto - Manufacturers
n/a
HQ country
NL
CA
Primary segment
Cars and spare parts
U.S. Natural Gas Pipelines
Market structure
Oligopoly
Oligopoly
Market share
23% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Weak
Moat score
81 / 100
80 / 100
Moat domains
Demand, Supply, Legal
Legal, Demand, Supply
Last update
2025-12-31
2026-01-02

Moat coverage

Shared moat types

No overlap yet.

Ferrari N.V. strengths

Brand TrustCapacity MoatDistribution ControlInstalled Base ConsumablesIP Choke Point

TC Energy Corporation strengths

Regulated Standards PipeLong Term ContractsPhysical Network DensityGovernment Contracting Relationships

Segment mix

Ferrari N.V. segments

Full profile >

Cars and spare parts

Oligopoly

85.8%

Sponsorship, commercial and brand

Competitive

10%

Other

Competitive

4.2%

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.