VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

TC Energy Corporation vs Zoetis 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

Zoetis Inc.

ZTS · New York Stock Exchange

Market cap (USD)$55.4B
Gross margin (TTM)70.6%
Operating margin (TTM)37.6%
Net margin (TTM)28.2%
SectorHealthcare
IndustryDrug Manufacturers - Specialty & Generic
CountryUS
Data as of2025-12-26
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 Zoetis Inc.'s moat claims, evidence, and risks.

View ZTS analysis

Comparison highlights

  • Moat score gap: TC Energy Corporation leads (80 / 100 vs 73 / 100 for Zoetis Inc.).
  • Segment focus: TC Energy Corporation has 4 segments (46.1% in U.S. Natural Gas Pipelines); Zoetis Inc. has 3 segments (67.8% in Companion Animal Products).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Weak vs Strong.
  • Moat breadth: TC Energy Corporation has 4 moat types across 3 domains; Zoetis 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%

Zoetis Inc.

Companion Animal Products

Market

Companion animal veterinary medicines, vaccines and diagnostics

Geography

Global

Customer

Veterinarians, veterinary clinics, pet owners (via prescription/retail)

Role

Manufacturer and marketer

Revenue share

67.8%

Side-by-side metrics

TC Energy Corporation
Zoetis Inc.
Ticker / Exchange
TRP - New York Stock Exchange
ZTS - New York Stock Exchange
Market cap (USD)
$37B
$55.4B
Gross margin (TTM)
n/a
70.6%
Operating margin (TTM)
n/a
37.6%
Net margin (TTM)
n/a
28.2%
Sector
Energy
Healthcare
Industry
n/a
Drug Manufacturers - Specialty & Generic
HQ country
CA
US
Primary segment
U.S. Natural Gas Pipelines
Companion Animal Products
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Weak
Strong
Moat score
80 / 100
73 / 100
Moat domains
Legal, Demand, Supply
Demand, Supply, Legal
Last update
2026-01-02
2025-12-26

Moat coverage

Shared moat types

Regulated Standards Pipe

TC Energy Corporation strengths

Long Term ContractsPhysical Network DensityGovernment Contracting Relationships

Zoetis Inc. strengths

Brand TrustService Field NetworkIP Choke PointInstalled Base ConsumablesCapacity MoatDistribution ControlCompliance AdvantageOperational Excellence

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%

Zoetis Inc. segments

Full profile >

Companion Animal Products

Oligopoly

67.8%

Livestock Products

Oligopoly

31.3%

Client Supply Services & Human Health

Competitive

0.9%

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.