VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

The Sherwin-Williams Company vs TC Energy Corporation

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

The Sherwin-Williams Company

SHW · New York Stock Exchange

Market cap (USD)$81.5B
Gross margin (TTM)48.9%
Operating margin (TTM)15.9%
Net margin (TTM)11.1%
SectorMaterials
IndustryChemicals - Specialty
CountryUS
Data as of2025-12-31
Moat score
84/ 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 Sherwin-Williams Company's moat claims, evidence, and risks.

View SHW 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: The Sherwin-Williams Company leads (84 / 100 vs 80 / 100 for TC Energy Corporation).
  • Segment focus: The Sherwin-Williams Company has 3 segments (57.1% in Paint Stores Group); TC Energy Corporation has 4 segments (46.1% in U.S. Natural Gas Pipelines).
  • Primary market structure: Quasi-Monopoly vs Oligopoly. Pricing power: Strong vs Weak.
  • Moat breadth: The Sherwin-Williams Company has 6 moat types across 3 domains; TC Energy Corporation has 4 across 3.

Primary market context

The Sherwin-Williams Company

Paint Stores Group

Market

Company-operated paint & coatings retail (architectural + related products)

Geography

United States, Canada, Caribbean

Customer

Professional contractors and DIY homeowners

Role

Manufacturer-owned retail / distribution

Revenue share

57.1%

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

The Sherwin-Williams Company
TC Energy Corporation
Ticker / Exchange
SHW - New York Stock Exchange
TRP - New York Stock Exchange
Market cap (USD)
$81.5B
$37B
Gross margin (TTM)
48.9%
n/a
Operating margin (TTM)
15.9%
n/a
Net margin (TTM)
11.1%
n/a
Sector
Materials
Energy
Industry
Chemicals - Specialty
n/a
HQ country
US
CA
Primary segment
Paint Stores Group
U.S. Natural Gas Pipelines
Market structure
Quasi-Monopoly
Oligopoly
Market share
69.4% (estimated)
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Weak
Moat score
84 / 100
80 / 100
Moat domains
Supply, Demand, Legal
Legal, Demand, Supply
Last update
2025-12-31
2026-01-02

Moat coverage

Shared moat types

No overlap yet.

The Sherwin-Williams Company strengths

Distribution ControlService Field NetworkBrand TrustScope EconomiesSwitching Costs GeneralCompliance Advantage

TC Energy Corporation strengths

Regulated Standards PipeLong Term ContractsPhysical Network DensityGovernment Contracting Relationships

Segment mix

The Sherwin-Williams Company segments

Full profile >

Paint Stores Group

Quasi-Monopoly

57.1%

Consumer Brands Group

Oligopoly

13.5%

Performance Coatings Group

Oligopoly

29.4%

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.