VOL. XCIV, NO. 247

WIDE MOAT STOCKS & DURABLE COMPETITIVE ADVANTAGES

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Wide Moat Stocks Ranking

Public companies with durable competitive advantages, ranked and organized by moat type.

This list highlights wide moat stocks and companies with durable competitive advantages. We categorize moats into network effects, switching costs, regulated rails, data lock-in, and physical network density. These advantages are often called economic moats in fundamental analysis.

This is not financial advice.

New to economic moats?Explore 46 moat types across 5 domains: supply, demand, network, legal & financial.

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Ranked Wide Moat Stocks Database

Universe

Financials

Moat

Showing 1-30 of 398 companies


VRSN	VeriSign, Inc.	TechnologyInfrastructure software	100	$26.4B	88.5%	67.9%	49.8%	Monopoly	Legal	Concession License	Strong
2330	Taiwan Semiconductor Manufacturing Company Limited	TechnologySemiconductors	100	$2T	64.2%	56%	50.4%	Quasi-Monopoly	Supply	Capex Knowhow Scale	Strong
TCL	Transurban Group	IndustrialsTransport and logistics	100	$28.4B	—	30%	9.4%	Quasi-Monopoly	Legal	Concession License	Moderate
AUTO	Autotrader Group plc	Communication ServicesInternet platforms	100	$5.3B	75.5%	62.2%	47.1%	Quasi-Monopoly	Network	Two Sided Network	Strong
META	Meta Platforms, Inc.	Communication ServicesInternet platforms	100	$1.9T	81.7%	38.1%	29.8%	Oligopoly	Network	Two Sided Network	Moderate
V	Visa Inc.	FinancialsPayments and financial technology	100	$678B	—	60.7%	50.8%	Oligopoly	Network	Two Sided Network	Strong
DXCM	DexCom, Inc.	HealthcareMedical devices	100	$33.2B	62.5%	22.9%	20.1%	Oligopoly	Demand	Installed Base Consumables	Moderate
CCI	Crown Castle Inc.	Real EstateReal estate	100	$33.1B	63.2%	47.7%	25.8%	Oligopoly	Supply	Physical Network Density	Strong
NVDA	NVIDIA Corporation	TechnologySemiconductors	99	$5.6T	74.7%	65.2%	63.7%	Quasi-Monopoly	Network	De Facto Standard	Strong
UMG	Universal Music Group N.V.	Communication ServicesMedia and entertainment	99	$29.2B	—	15.2%	2.5%	Oligopoly	Legal	Content Rights Currency	Moderate
MO	Altria Group, Inc.	ConsumerTobacco	99	$115B	71%	56%	36.5%	Oligopoly	Demand	Brand Trust	Strong
VRTX	Vertex Pharmaceuticals Incorporated	HealthcarePharmaceuticals	99	$127.9B	86%	38%	35%	Quasi-Monopoly	Legal	IP Choke Point	Strong
AWK	American Water Works Company, Inc.	UtilitiesUtilities	98	$25.9B	—	36.9%	21.3%	Monopoly	Legal	Concession License	Moderate
ENB	Enbridge Inc.	EnergyEnergy	98	$109.4B	28.2%	13.8%	7.3%	Oligopoly	Legal	Permits Rights Of Way	Moderate
0388.HK	Hong Kong Exchanges and Clearing Limited	FinancialsExchanges and financial data	98	$65.9B	86%	74.9%	62.3%	Monopoly	Legal	Concession License	Moderate
FTNT	Fortinet, Inc.	TechnologyInfrastructure software	98	$114.7B	80.4%	32.4%	28.2%	Oligopoly	Demand	Suite Bundling	Moderate
GAW	Games Workshop Group PLC	ConsumerTravel, lodging and leisure	97	$7.4B	72.5%	41.7%	31.2%	Competitive	Legal	IP Choke Point	Strong
RSG	Republic Services, Inc.	IndustrialsBusiness services	97	$65.8B	—	19.9%	12.9%	Competitive	Legal	Permits Rights Of Way	Moderate
NOW	ServiceNow, Inc.	TechnologyApplication software	97	$142.6B	74.8%	11.4%	11.3%	Oligopoly	Demand	Data Workflow Lockin	Strong
IDXX	IDEXX Laboratories, Inc.	HealthcareDiagnostics and life science tools	97	$42.2B	62.5%	32%	25%	Oligopoly	Demand	Installed Base Consumables	Strong
CNR	Canadian National Railway Company	IndustrialsTransport and logistics	96	$72.2B	—	37.5%	26.9%	Duopoly	Legal	Permits Rights Of Way	Moderate
MNST	Monster Beverage Corporation	ConsumerSoft drinks	96	$85.2B	55.5%	29.2%	23.1%	Oligopoly	Supply	Distribution Control	Moderate
REA	REA Group Ltd	Communication ServicesInternet platforms	96	$15.8B	54.2%	44.2%	31.6%	Duopoly	Network	Two Sided Network	Strong
CME	CME Group Inc.	FinancialsExchanges and financial data	96	$101.1B	81.9%	65.1%	63.1%	Oligopoly	Network	Two Sided Network	Moderate
PGR	The Progressive Corporation	FinancialsInsurance	96	$127.3B	26.9%	16.2%	12.9%	Oligopoly	Supply	Learning Curve Yield	Moderate
4661	Oriental Land Co., Ltd.	ConsumerTravel, lodging and leisure	96	$32.9B	39.2%	24.6%	18.8%	Duopoly	Legal	Content Rights Currency	Strong
AAPL	Apple Inc.	TechnologyConsumer electronics	95	$4.9T	48.7%	33.2%	27.6%	Oligopoly	Network	Ecosystem Complements	Strong
MSFT	Microsoft Corporation	TechnologyInfrastructure software	95	$3.9T	67.9%	46.8%	40.3%	Oligopoly	Demand	Suite Bundling	Strong
RACE	Ferrari N.V.	ConsumerAutos and vehicles	95	$72.1B	51.6%	29.6%	22.3%	Oligopoly	Demand	Brand Trust	Strong
TDG	TransDigm Group Incorporated	IndustrialsAerospace and defense	94	$61B	59.6%	46%	21.3%	Competitive	Demand	Design In Qualification	Strong

Wide Moat Atlas

Tracked companies

398

10 sectors represented

Mean moat score

141 score 80 or higher

Most common moat

Brand Trust

129 companies tagged

Median gross margin

51.1%

Median across companies with margin data

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Compare moat strength, market structure, pricing power, and segment evidence side by side.

Moat Score Methodology

How the Score Works

A Structured 0–100 Read on Durable Competitive Advantage

The moat score estimates how durable a company's competitive advantages appear to be. It is built from curated company-wide and segment moat claims, never from price, valuation, or stock performance. Segment scores are weighted by revenue share (or operating profit, when revenue is unavailable) so the biggest segments shape the company-level number the most.

Score Bands

0 – 100

80+Elite

Multi-moat dominance with durable pricing power.

70-79High

Strong moat with one or two clear advantages.

60-69Solid

Defensible in places, but not dominant.

< 60Watch

Thin, fragile, or contested moat.

Bands are guides, not grades: two companies in the same band can have very different risk profiles.

What Goes Into a Segment Score

Moat Claims

Each claim combines strength (1–5), durability (fragile / medium / durable), and confidence (1–5). The strongest claim sets the base; additional claims can only add diminishing support.

Moat Diversity

A segment earns a bonus when multiple moat domains defend it, including network effects, switching costs, regulated rails, data lock-in, and physical density.

Market Structure

Monopolies and quasi-monopolies receive the largest bonus, duopolies and oligopolies a smaller one, fully competitive markets none.

Pricing Power

Strong pricing power adds the most, moderate and weak add less, none adds nothing. Captures whether a business can raise prices without losing volume.

Share & Concentration

Higher estimated market share and a higher HHI (industry concentration) each contribute a small, capped bonus so they refine rather than dominate.

Segments to Company

A company's score is the weighted average of its evidenced segment scores. Weights come from segment revenue share when available, then fall back to operating profit share, and finally to equal weighting if neither is reported. Segments without sufficient evidence are excluded from the numeric average and reduce the displayed coverage. Records below 90% coverage are labeled partial and sort below rankable records; companies with no weighted evidence remain unscored.

scorecompany = Σ ( scoresegment × weightsegment ) ÷ evidenced weight

What the Score Is Not

Not a price target, valuation, or a buy / sell recommendation.
Does not directly measure management quality, capital allocation, or balance sheet strength.
A structured opinion on public information: inputs are curated and change as businesses evolve.

Treat the moat score as a starting point for research, not a verdict.

Cite or reuse this data

Free to reuse, commercially too, with a credit link. See the data license.

Moat Scores by <a href="https://www.findmymoat.com/moat-stocks">Find My Moat</a> (as of September 2026)

Wide Moat Stocks FAQ

What are wide moat stocks?

Wide moat stocks are companies with durable competitive advantages that may protect returns on capital from competitors for many years. Common moat sources include network effects, switching costs, cost advantages, regulated rails, data lock-in, and hard-to-replicate physical networks.

How does Find My Moat rank moat stocks?

Find My Moat uses a 0-100 moat score built from segment and company-level moat claims. The strongest claim sets each segment base and additional claims add diminishing, non-negative support. The score also considers moat diversity, market structure, pricing power, market share, and industry concentration, then weights evidenced segments by revenue or operating profit where available. Records below 90% weighted evidence coverage are labeled partial; records with no weighted coverage are labeled insufficient evidence.

Is a high moat score a buy recommendation?

No. The moat score is a research signal about competitive advantage, not a valuation, price target, or buy/sell recommendation. A high-quality company can still be a poor investment if the stock price already discounts too much future success.

How is this different from Morningstar-style moat ratings?

Morningstar-style moat ratings usually classify companies as wide, narrow, or none based on expected durability of excess returns. Find My Moat keeps the economic moat concept but uses a numeric, evidence-backed, segment-weighted score so investors can compare companies and inspect the underlying moat claims.

How should investors use the wide moat stocks list?

Use the list as a starting point for research. Open individual stock pages to review the segment-level moat evidence, erosion risks, counterarguments, pricing power, market structure, and related companies before doing valuation work.

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.