VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Transurban Group vs Union Pacific Corporation

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

Union Pacific Corporation

UNP · New York Stock Exchange

Market cap (USD)$137.6B
Gross margin (TTM)45.9%
Operating margin (TTM)40.6%
Net margin (TTM)28.7%
SectorIndustrials
IndustryRailroads
CountryUS
Data as of2025-12-30
Moat score
72/ 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 Union Pacific Corporation's moat claims, evidence, and risks.

View UNP analysis

Comparison highlights

  • Moat score gap: Transurban Group leads (91 / 100 vs 72 / 100 for Union Pacific Corporation).
  • Segment focus: Transurban Group has 4 segments (49.5% in Sydney toll roads); Union Pacific Corporation has 4 segments (34.8% in Industrial).
  • Primary market structure: Quasi-Monopoly vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Transurban Group has 3 moat types across 3 domains; Union Pacific Corporation 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%

Union Pacific Corporation

Industrial

Market

Rail freight transportation for industrial commodities (chemicals and plastics, metals and minerals, forest products, energy and specialized markets)

Geography

U.S. western two-thirds with interchange to other railroads; cross-border corridors to Mexico and Canada

Customer

Chemical producers, refiners, plastics manufacturers, construction and material suppliers, metals and mining, industrial shippers

Role

Class I rail carrier / linehaul freight transport

Revenue share

34.8%

Side-by-side metrics

Transurban Group
Union Pacific Corporation
Ticker / Exchange
TCL - Australian Securities Exchange
UNP - New York Stock Exchange
Market cap (USD)
$42.6B
$137.6B
Gross margin (TTM)
43.4%
45.9%
Operating margin (TTM)
39.4%
40.6%
Net margin (TTM)
5.8%
28.7%
Sector
Industrials
Industrials
Industry
Industrial - Infrastructure Operations
Railroads
HQ country
AU
US
Primary segment
Sydney toll roads
Industrial
Market structure
Quasi-Monopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
91 / 100
72 / 100
Moat domains
Legal, Financial, Demand
Legal, Supply
Last update
2026-01-04
2025-12-30

Moat coverage

Shared moat types

No overlap yet.

Transurban Group strengths

Concession LicenseBenchmark Pricing PowerDynamic congestion pricing

Union Pacific Corporation strengths

Permits Rights Of WayPhysical Network DensityScale Economies Unit CostOperational ExcellenceScope Economies

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%

Union Pacific Corporation segments

Full profile >

Bulk

Oligopoly

29.7%

Industrial

Oligopoly

34.8%

Premium

Oligopoly

29.5%

Other subsidiary, accessorial and other revenues

Competitive

5.9%

Want the full wide moat stocks list?

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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.