VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 3, 2026

Stock Comparison

Vulcan Materials Company vs Xero Limited

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

Xero Limited

XRO · Australian Securities Exchange

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorTechnology
Industry
CountryNZ
Data as of2026-01-02
Moat score
71/ 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 Xero Limited's moat claims, evidence, and risks.

View XRO analysis

Comparison highlights

  • Moat score gap: Vulcan Materials Company leads (73 / 100 vs 71 / 100 for Xero Limited).
  • Segment focus: Vulcan Materials Company has 3 segments (74.4% in Aggregates); Xero Limited has 2 segments.
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Vulcan Materials Company has 5 moat types across 2 domains; Xero Limited 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%

Xero Limited

Core Accounting Subscription Platform

Market

Cloud accounting software for small businesses and their advisors

Geography

Global

Customer

SMB; accountants & bookkeepers

Role

Software platform (SaaS)

Side-by-side metrics

Vulcan Materials Company
Xero Limited
Ticker / Exchange
VMC - New York Stock Exchange
XRO - Australian Securities Exchange
Market cap (USD)
$38.3B
n/a
Gross margin (TTM)
n/a
n/a
Operating margin (TTM)
n/a
n/a
Net margin (TTM)
n/a
n/a
Sector
Materials
Technology
Industry
Construction Materials
n/a
HQ country
US
NZ
Primary segment
Aggregates
Core Accounting Subscription Platform
Market structure
Oligopoly
Oligopoly
Market share
8%-11% (implied)
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
73 / 100
71 / 100
Moat domains
Legal, Supply
Demand, Network, Financial
Last update
2026-01-01
2026-01-02

Moat coverage

Shared moat types

No overlap yet.

Vulcan Materials Company strengths

Permits Rights Of WayGeographic NaturalPhysical Network DensityScale Economies Unit CostSupply Chain Control

Xero Limited strengths

Data Workflow LockinSwitching Costs GeneralTwo Sided NetworkBenchmark Pricing PowerInteroperability HubEcosystem ComplementsSuite Bundling

Segment mix

Vulcan Materials Company segments

Full profile >

Aggregates

Oligopoly

74.4%

Asphalt

Competitive

16.8%

Concrete

Competitive

8.8%

Xero Limited segments

Full profile >

Core Accounting Subscription Platform

Oligopoly

n/a

Platform Services (Payments, Payroll, App Ecosystem)

Competitive

n/a

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.