VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Transurban Group vs UnitedHealth Group Incorporated

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

Transurban Group

TCL · Australian Securities Exchange

Market cap (USD)$42.6B
Gross margin (TTM)43.4%
Operating margin (TTM)39.4%
Net margin (TTM)5.8%
SectorIndustrials
IndustryIndustrial - Infrastructure Operations
CountryAU
Data as of2026-01-04
Moat score
91/ 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 Transurban Group's moat claims, evidence, and risks.

View TCL analysis

UnitedHealth Group Incorporated

UNH · New York Stock Exchange

Market cap (USD)$309.8B
Gross margin (TTM)19.7%
Operating margin (TTM)6.1%
Net margin (TTM)4%
SectorHealthcare
IndustryMedical - Healthcare Plans
CountryUS
Data as of2025-12-31
Moat score
64/ 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 UnitedHealth Group Incorporated's moat claims, evidence, and risks.

View UNH analysis

Comparison highlights

  • Moat score gap: Transurban Group leads (91 / 100 vs 64 / 100 for UnitedHealth Group Incorporated).
  • Segment focus: Transurban Group has 4 segments (49.5% in Sydney toll roads); UnitedHealth Group Incorporated has 4 segments (74.9% in UnitedHealthcare).
  • Primary market structure: Quasi-Monopoly vs Oligopoly. Pricing power: Moderate vs Weak.
  • Moat breadth: Transurban Group has 3 moat types across 3 domains; UnitedHealth Group Incorporated has 5 across 2.

Primary market context

Transurban Group

Sydney toll roads

Market

Urban toll-road concessions (Sydney)

Geography

Sydney, New South Wales, Australia

Customer

Motorists and commercial fleet operators

Role

Concessionaire / operator and developer

Revenue share

49.5%

UnitedHealth Group Incorporated

UnitedHealthcare

Market

U.S. health benefits / managed care (commercial, Medicare Advantage, Medicaid managed care)

Geography

United States (primarily)

Customer

Employers, individuals, and government-sponsored programs

Role

Health insurer / managed care organization

Revenue share

74.9%

Side-by-side metrics

Transurban Group
UnitedHealth Group Incorporated
Ticker / Exchange
TCL - Australian Securities Exchange
UNH - New York Stock Exchange
Market cap (USD)
$42.6B
$309.8B
Gross margin (TTM)
43.4%
19.7%
Operating margin (TTM)
39.4%
6.1%
Net margin (TTM)
5.8%
4%
Sector
Industrials
Healthcare
Industry
Industrial - Infrastructure Operations
Medical - Healthcare Plans
HQ country
AU
US
Primary segment
Sydney toll roads
UnitedHealthcare
Market structure
Quasi-Monopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Weak
Moat score
91 / 100
64 / 100
Moat domains
Legal, Financial, Demand
Supply, Demand
Last update
2026-01-04
2025-12-31

Moat coverage

Shared moat types

No overlap yet.

Transurban Group strengths

Concession LicenseBenchmark Pricing PowerDynamic congestion pricing

UnitedHealth Group Incorporated strengths

Scale Economies Unit CostSuite BundlingOperational ExcellenceData Workflow LockinTraining Org Change Costs

Segment mix

Transurban Group segments

Full profile >

Sydney toll roads

Quasi-Monopoly

49.5%

Melbourne toll roads

Quasi-Monopoly

26.5%

Brisbane toll roads

Quasi-Monopoly

16%

North America managed lanes and concessions

Quasi-Monopoly

8.1%

UnitedHealth Group Incorporated segments

Full profile >

UnitedHealthcare

Oligopoly

74.9%

Optum Health

Competitive

9.9%

Optum Insight

Competitive

1.7%

Optum Rx

Oligopoly

13.5%

Want the full wide moat stocks list?

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

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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.