VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Hoshizaki Corporation vs Novartis AG

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

Hoshizaki Corporation

6465 · Tokyo Stock Exchange

Market cap (USD)$736.8B
Gross margin (TTM)37.3%
Operating margin (TTM)11.4%
Net margin (TTM)8.4%
SectorIndustrials
IndustryIndustrial - Machinery
CountryJP
Data as of2025-12-30
Moat score
60/ 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 Hoshizaki Corporation's moat claims, evidence, and risks.

View 6465 analysis

Novartis AG

NOVN · SIX Swiss Exchange

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorHealthcare
Industry
CountryCH
Data as of2026-01-02
Moat score
65/ 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 Novartis AG's moat claims, evidence, and risks.

View NOVN analysis

Comparison highlights

  • Moat score gap: Novartis AG leads (65 / 100 vs 60 / 100 for Hoshizaki Corporation).
  • Segment focus: Hoshizaki Corporation has 7 segments (26.4% in Refrigerators & freezers); Novartis AG has 5 segments (29.3% in Oncology).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Hoshizaki Corporation has 7 moat types across 3 domains; Novartis AG has 4 across 3.

Primary market context

Hoshizaki Corporation

Refrigerators & freezers

Market

Commercial refrigerators & freezers for professional kitchens and food retail

Geography

Global

Customer

Restaurants, supermarkets/convenience stores, institutional kitchens, food distribution and preparation facilities

Role

OEM/manufacturer with after-sales support; increasingly connected monitoring/services

Revenue share

26.4%

Novartis AG

Oncology

Market

Oncology and hematology branded medicines (including targeted therapies and radioligand therapy)

Geography

Global

Customer

Oncologists and hospitals; reimbursed by payers; hospital and specialty pharmacy channels

Role

Originator developer, manufacturer, and marketer of oncology therapies

Revenue share

29.3%

Side-by-side metrics

Hoshizaki Corporation
Novartis AG
Ticker / Exchange
6465 - Tokyo Stock Exchange
NOVN - SIX Swiss Exchange
Market cap (USD)
$736.8B
n/a
Gross margin (TTM)
37.3%
n/a
Operating margin (TTM)
11.4%
n/a
Net margin (TTM)
8.4%
n/a
Sector
Industrials
Healthcare
Industry
Industrial - Machinery
n/a
HQ country
JP
CH
Primary segment
Refrigerators & freezers
Oncology
Market structure
Competitive
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
60 / 100
65 / 100
Moat domains
Demand, Supply, Legal
Legal, Supply, Demand
Last update
2025-12-30
2026-01-02

Moat coverage

Shared moat types

Brand Trust

Hoshizaki Corporation strengths

Service Field NetworkDistribution ControlCompliance AdvantageSuite BundlingInstalled Base ConsumablesData Workflow Lockin

Novartis AG strengths

IP Choke PointRegulated Standards PipeCapex Knowhow Scale

Segment mix

Hoshizaki Corporation segments

Full profile >

Ice makers

Oligopoly

19.5%

Refrigerators & freezers

Competitive

26.4%

Commercial dishwashers (warewashing)

Oligopoly

13.3%

Dispensers (beverage systems)

Oligopoly

15%

Other Hoshizaki products

Competitive

8.7%

Maintenance / repair (service, parts, and connected monitoring)

Quasi-Monopoly

6.8%

Other companies' products (resale/complementary kitchen equipment)

Competitive

10.3%

Novartis AG segments

Full profile >

Cardiovascular, Renal and Metabolic

Oligopoly

17%

Immunology

Oligopoly

18.5%

Neuroscience

Oligopoly

9.4%

Oncology

Oligopoly

29.3%

Established Brands

Competitive

25.8%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

View the moat stocks list

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.