VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Vulcan Materials Company vs Waste Management, Inc.

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

Vulcan Materials Company

VMC · New York Stock Exchange

Market cap (USD)$38.3B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorMaterials
IndustryConstruction Materials
CountryUS
Data as of2026-01-01
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 Vulcan Materials Company's moat claims, evidence, and risks.

View VMC analysis

Waste Management, Inc.

WM · New York Stock Exchange

Market cap (USD)$88B
Gross margin (TTM)28.9%
Operating margin (TTM)17.6%
Net margin (TTM)10.4%
SectorIndustrials
IndustryWaste Management
CountryUS
Data as of2025-12-31
Moat score
79/ 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 Waste Management, Inc.'s moat claims, evidence, and risks.

View WM analysis

Comparison highlights

  • Moat score gap: Waste Management, Inc. leads (79 / 100 vs 73 / 100 for Vulcan Materials Company).
  • Segment focus: Vulcan Materials Company has 3 segments (74.4% in Aggregates); Waste Management, Inc. has 4 segments (82.2% in Collection and Disposal).
  • Moat breadth: Vulcan Materials Company has 5 moat types across 2 domains; Waste Management, Inc. has 7 across 3.

Primary market context

Vulcan Materials Company

Aggregates

Market

Construction aggregates (crushed stone, sand & gravel)

Geography

United States (local/regional markets)

Customer

Construction contractors and public infrastructure agencies

Role

Upstream raw materials producer

Revenue share

74.4%

Waste Management, Inc.

Collection and Disposal

Market

Municipal, commercial, and industrial solid waste collection, transfer, and landfill disposal

Geography

North America (primarily US and Canada)

Customer

Municipalities and end-customers (residential, commercial, industrial) via direct and contract channels

Role

Integrated hauler + transfer + landfill owner/operator

Revenue share

82.2%

Side-by-side metrics

Vulcan Materials Company
Waste Management, Inc.
Ticker / Exchange
VMC - New York Stock Exchange
WM - New York Stock Exchange
Market cap (USD)
$38.3B
$88B
Gross margin (TTM)
n/a
28.9%
Operating margin (TTM)
n/a
17.6%
Net margin (TTM)
n/a
10.4%
Sector
Materials
Industrials
Industry
Construction Materials
Waste Management
HQ country
US
US
Primary segment
Aggregates
Collection and Disposal
Market structure
Oligopoly
Oligopoly
Market share
8%-11% (implied)
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Strong
Moat score
73 / 100
79 / 100
Moat domains
Legal, Supply
Legal, Supply, Demand
Last update
2026-01-01
2025-12-31

Moat coverage

Shared moat types

Permits Rights Of WayPhysical Network Density

Vulcan Materials Company strengths

Geographic NaturalScale Economies Unit CostSupply Chain Control

Waste Management, Inc. strengths

Capacity MoatPricing power via yield management and contracted rate actionsOperational ExcellencePreferential Input AccessRegulated Standards Pipe

Segment mix

Vulcan Materials Company segments

Full profile >

Aggregates

Oligopoly

74.4%

Asphalt

Competitive

16.8%

Concrete

Competitive

8.8%

Waste Management, Inc. segments

Full profile >

Collection and Disposal

Oligopoly

82.2%

Recycling Processing and Sales

Competitive

6%

WM Renewable Energy

Competitive

1.7%

WM Healthcare Solutions

Oligopoly

10%

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.