WIDE MOAT STOCKS & DURABLE COMPETITIVE ADVANTAGES

VOL. XCIV, NO. 247

Checking

Wide Moat Stocks Ranking

Q: 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.

Q: 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.

Q: 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.

Q: 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.

Q: 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.

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.

Learn more →

Save 3 moat stocks to build your research shortlist.

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Moat

Showing 1-30 of 396 companies


VRSN	VeriSign, Inc.	TechnologySoftware - Infrastructure	100	$27.1B	88.4%	67.9%	50%	Monopoly	Legal	Concession License	Strong
2330	Taiwan Semiconductor Manufacturing Company Limited	TechnologySemiconductors	100	$2T	61.9%	53.3%	47%	Quasi-Monopoly	Supply	Capex Knowhow Scale	Strong
CNR	Canadian National Railway Company	IndustrialsRailroads	100	$72.2B	41.9%	37.8%	27.2%	Duopoly	Legal	Permits Rights Of Way	Moderate
META	Meta Platforms, Inc.	Communication ServicesInternet Content & Information	100	$1.5T	81.9%	41.2%	32.8%	Oligopoly	Network	Two Sided Network	Moderate
V	Visa Inc.	FinancialsFinancial - Credit Services	100	$673B	81.3%	61.1%	51.7%	Oligopoly	Network	Two Sided Network	Strong
CRWD	CrowdStrike Holdings, Inc.	TechnologySoftware - Infrastructure	100	$195.7B	74.7%	-6.1%	-3.4%	Oligopoly	Network	Data Network Effects	Moderate
BKNG	Booking Holdings Inc.	ConsumerTravel Services	100	$138.1B	100%	34.3%	22.2%	Oligopoly	Network	Two Sided Network	Moderate
NOW	ServiceNow, Inc.	TechnologySoftware - Application	100	$109.4B	76.6%	13.4%	12.6%	Oligopoly	Demand	Data Workflow Lockin	Strong
CCI	Crown Castle Inc.	Real EstateREIT - Specialty	100	$33.1B	65.7%	48%	25.1%	Oligopoly	Supply	Physical Network Density	Strong
DXCM	DexCom, Inc.	HealthcareMedical - Devices	100	$26.7B	61.8%	21.5%	19.3%	Oligopoly	Demand	Installed Base Consumables	Moderate
GAW	Games Workshop Group PLC	ConsumerLeisure	100	$9.4B	71.8%	41.9%	31.1%	Oligopoly	Legal	IP Choke Point	Strong
TCL	Transurban Group	IndustrialsIndustrial - Infrastructure Operations	100	$30.9B	45.6%	41.9%	7.1%	Quasi-Monopoly	Legal	Concession License	Moderate
AMZN	Amazon.com, Inc.	ConsumerSpecialty Retail	99	$2.6T	50.6%	11.5%	12.2%	Oligopoly	Supply	Capex Knowhow Scale	Moderate
NVDA	NVIDIA Corporation	TechnologySemiconductors	99	$5.4T	74.2%	64%	63%	Quasi-Monopoly	Network	De Facto Standard	Strong
UMG	Universal Music Group N.V.	Communication ServicesEntertainment	99	$39.4B	40%	11.1%	14.9%	Oligopoly	Legal	Content Rights Currency	Moderate
MO	Altria Group, Inc.	ConsumerTobacco	99	$119.7B	67.8%	50.7%	36.9%	Oligopoly	Demand	Brand Trust	Strong
RACE	Ferrari N.V.	ConsumerAuto - Manufacturers	99	$66.5B	51.6%	29.4%	22.2%	Oligopoly	Demand	Brand Trust	Strong
VRTX	Vertex Pharmaceuticals Incorporated	HealthcareBiotechnology	99	$107.9B	86.3%	39%	35.4%	Quasi-Monopoly	Legal	IP Choke Point	Strong
AWK	American Water Works Company, Inc.	UtilitiesRegulated Water	99	$25.7B	43.6%	36.5%	21.2%	Monopoly	Legal	Concession License	Moderate
UNP	Union Pacific Corporation	IndustrialsRailroads	99	$157.1B	45.7%	40.1%	29.2%	Oligopoly	Legal	Permits Rights Of Way	Moderate
ENB	Enbridge Inc.	EnergyOil & Gas Midstream	98	$118.2B	33.2%	16.5%	9.4%	Oligopoly	Legal	Permits Rights Of Way	Moderate
FTNT	Fortinet, Inc.	TechnologySoftware - Infrastructure	98	$115.3B	80.7%	31.1%	27.5%	Oligopoly	Demand	Suite Bundling	Moderate
0388.HK	Hong Kong Exchanges and Clearing Limited	FinancialsFinancial - Data & Stock Exchanges	98	$58.5B	85.1%	78.6%	65.4%	Monopoly	Legal	Concession License	Moderate
MNST	Monster Beverage Corporation	ConsumerBeverages - Non-Alcoholic	98	$95.5B	55.5%	29.3%	23.1%	Oligopoly	Supply	Distribution Control	Moderate
RSG	Republic Services, Inc.	IndustrialsWaste Management	97	$62B	39.1%	20.1%	13%	Competitive	Legal	Permits Rights Of Way	Moderate
BXB	Brambles Limited	IndustrialsSpecialty Business Services	97	$15.8B	23.5%	19.2%	13.1%	Oligopoly	Supply	Physical Network Density	Moderate
PM	Philip Morris International Inc.	ConsumerTobacco	97	$270.7B	67.3%	36.8%	26.7%	Oligopoly	Demand	Brand Trust	Strong
IDXX	IDEXX Laboratories, Inc.	HealthcareMedical - Diagnostics & Research	97	$43.5B	62.1%	31.6%	24.6%	Oligopoly	Demand	Installed Base Consumables	Strong
CME	CME Group Inc.	FinancialsFinancial - Data & Stock Exchanges	97	$81.1B	86.3%	65.6%	62.8%	Oligopoly	Network	Two Sided Network	Moderate
AUTO	Auto Trader Group plc	Communication ServicesInternet Content & Information	97	$5.2B	75.5%	62.2%	47.1%	Quasi-Monopoly	Network	Two Sided Network	Strong

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Wide Moat Atlas

Tracked companies

396

10 sectors represented

Mean moat score

180 score 80 or higher

Most common moat

Brand Trust

149 companies tagged

Median gross margin

50.4%

Median across companies with margin data

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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

Bonus when a segment is defended by multiple distinct moat domains — network effects, switching costs, regulated rails, data lock-in, 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.

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.

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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.