VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Friday, January 2, 2026

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Stock Comparison

TC Energy Corporation vs United Parcel Service, Inc.

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

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

United Parcel Service, Inc.

UPS · New York Stock Exchange

Market cap (USD)$85.7B
Gross margin (TTM)18.1%
Operating margin (TTM)9.3%
Net margin (TTM)6.2%
SectorIndustrials
IndustryIntegrated Freight & Logistics
CountryUS
Data as of2025-12-22
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 United Parcel Service, Inc.'s moat claims, evidence, and risks.

View UPS analysis

Comparison highlights

  • Moat score gap: TC Energy Corporation leads (80 / 100 vs 72 / 100 for United Parcel Service, Inc.).
  • Segment focus: TC Energy Corporation has 4 segments (46.1% in U.S. Natural Gas Pipelines); United Parcel Service, Inc. has 3 segments (66.3% in U.S. Domestic Package).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Weak vs Moderate.
  • Moat breadth: TC Energy Corporation has 4 moat types across 3 domains; United Parcel Service, Inc. has 8 across 3.

Primary market context

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%

United Parcel Service, Inc.

U.S. Domestic Package

Market

U.S. small parcel and time-definite package delivery

Geography

United States

Customer

B2B and B2C shippers (including e-commerce)

Role

Integrated parcel carrier (pickup, sort, linehaul, last-mile)

Revenue share

66.3%

Side-by-side metrics

TC Energy Corporation
United Parcel Service, Inc.
Ticker / Exchange
TRP - New York Stock Exchange
UPS - New York Stock Exchange
Market cap (USD)
$37B
$85.7B
Gross margin (TTM)
n/a
18.1%
Operating margin (TTM)
n/a
9.3%
Net margin (TTM)
n/a
6.2%
Sector
Energy
Industrials
Industry
n/a
Integrated Freight & Logistics
HQ country
CA
US
Primary segment
U.S. Natural Gas Pipelines
U.S. Domestic Package
Market structure
Oligopoly
Oligopoly
Market share
n/a
34.3% (reported)
HHI estimate
n/a
2,639
Pricing power
Weak
Moderate
Moat score
80 / 100
72 / 100
Moat domains
Legal, Demand, Supply
Supply, Financial, Demand
Last update
2026-01-02
2025-12-22

Moat coverage

Shared moat types

Physical Network Density

TC Energy Corporation strengths

Regulated Standards PipeLong Term ContractsGovernment Contracting Relationships

United Parcel Service, Inc. strengths

Scale Economies Unit CostBenchmark Pricing PowerData Workflow LockinBrand TrustService Field NetworkOperational ExcellenceScope Economies

Segment mix

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%

United Parcel Service, Inc. segments

Full profile >

U.S. Domestic Package

Oligopoly

66.3%

International Package

Oligopoly

19.7%

Supply Chain Solutions

Competitive

14%

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.