VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

TC Energy Corporation vs Wolters Kluwer N.V.

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

Wolters Kluwer N.V.

WKL · Euronext Amsterdam

Market cap (USD)$20.6B
Gross margin (TTM)66.5%
Operating margin (TTM)24.8%
Net margin (TTM)18.3%
SectorIndustrials
IndustrySpecialty Business Services
CountryNL
Data as of2025-12-29
Moat score
73/ 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 Wolters Kluwer N.V.'s moat claims, evidence, and risks.

View WKL analysis

Comparison highlights

  • Moat score gap: TC Energy Corporation leads (80 / 100 vs 73 / 100 for Wolters Kluwer N.V.).
  • Segment focus: TC Energy Corporation has 4 segments (46.1% in U.S. Natural Gas Pipelines); Wolters Kluwer N.V. has 5 segments (26.8% in Health).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Weak vs Strong.
  • Moat breadth: TC Energy Corporation has 4 moat types across 3 domains; Wolters Kluwer N.V. has 6 across 2.

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%

Wolters Kluwer N.V.

Health

Market

Clinical decision support and clinical drug information solutions (point-of-care) for healthcare providers

Geography

Global

Customer

Hospitals/health systems, clinicians, payers, and academic institutions

Role

Software + expert content provider

Revenue share

26.8%

Side-by-side metrics

TC Energy Corporation
Wolters Kluwer N.V.
Ticker / Exchange
TRP - New York Stock Exchange
WKL - Euronext Amsterdam
Market cap (USD)
$37B
$20.6B
Gross margin (TTM)
n/a
66.5%
Operating margin (TTM)
n/a
24.8%
Net margin (TTM)
n/a
18.3%
Sector
Energy
Industrials
Industry
n/a
Specialty Business Services
HQ country
CA
NL
Primary segment
U.S. Natural Gas Pipelines
Health
Market structure
Oligopoly
Oligopoly
Market share
n/a
85%-90% (reported)
HHI estimate
n/a
n/a
Pricing power
Weak
Strong
Moat score
80 / 100
73 / 100
Moat domains
Legal, Demand, Supply
Demand, Legal
Last update
2026-01-02
2025-12-29

Moat coverage

Shared moat types

Long Term Contracts

TC Energy Corporation strengths

Regulated Standards PipePhysical Network DensityGovernment Contracting Relationships

Wolters Kluwer N.V. strengths

Data Workflow LockinBrand TrustSuite BundlingCompliance AdvantageSwitching Costs General

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%

Wolters Kluwer N.V. segments

Full profile >

Health

Oligopoly

26.8%

Tax & Accounting

Oligopoly

26.4%

Financial & Corporate Compliance

Oligopoly

20.8%

Legal & Regulatory

Oligopoly

16%

Corporate Performance & ESG

Competitive

10.1%

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.