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 Rentals, 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 Rentals, Inc.

URI · New York Stock Exchange

Market cap (USD)$54.3B
Gross margin (TTM)35.9%
Operating margin (TTM)25.1%
Net margin (TTM)15.8%
SectorIndustrials
IndustryRental & Leasing Services
CountryUS
Data as of2026-01-01
Moat score
63/ 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 Rentals, Inc.'s moat claims, evidence, and risks.

View URI analysis

Comparison highlights

  • Moat score gap: TC Energy Corporation leads (80 / 100 vs 63 / 100 for United Rentals, Inc.).
  • Segment focus: TC Energy Corporation has 4 segments (46.1% in U.S. Natural Gas Pipelines); United Rentals, Inc. has 2 segments (70.7% in General Rentals).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Weak vs Moderate.
  • Moat breadth: TC Energy Corporation has 4 moat types across 3 domains; United Rentals, Inc. has 9 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 Rentals, Inc.

General Rentals

Market

Construction & industrial equipment rental (general line)

Geography

United States and Canada

Customer

Construction and industrial companies, manufacturers, utilities, municipalities, homeowners

Role

Equipment rental provider / fleet operator

Revenue share

70.7%

Side-by-side metrics

TC Energy Corporation
United Rentals, Inc.
Ticker / Exchange
TRP - New York Stock Exchange
URI - New York Stock Exchange
Market cap (USD)
$37B
$54.3B
Gross margin (TTM)
n/a
35.9%
Operating margin (TTM)
n/a
25.1%
Net margin (TTM)
n/a
15.8%
Sector
Energy
Industrials
Industry
n/a
Rental & Leasing Services
HQ country
CA
US
Primary segment
U.S. Natural Gas Pipelines
General Rentals
Market structure
Oligopoly
Competitive
Market share
n/a
9.5%-11% (implied)
HHI estimate
n/a
n/a
Pricing power
Weak
Moderate
Moat score
80 / 100
63 / 100
Moat domains
Legal, Demand, Supply
Supply, Demand, Legal
Last update
2026-01-02
2026-01-01

Moat coverage

Shared moat types

Physical Network Density

TC Energy Corporation strengths

Regulated Standards PipeLong Term ContractsGovernment Contracting Relationships

United Rentals, Inc. strengths

Preferential Input AccessData Workflow LockinOperational ExcellenceBrand TrustService Field NetworkCompliance AdvantageScope EconomiesCapacity Moat

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 Rentals, Inc. segments

Full profile >

General Rentals

Competitive

70.7%

Specialty

Competitive

29.3%

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.