VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Murata Manufacturing Co., Ltd. vs Watsco, Inc.

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

Murata Manufacturing Co., Ltd.

6981 · Tokyo Stock Exchange

Market cap (USD)$6.2T
Gross margin (TTM)41.4%
Operating margin (TTM)16.8%
Net margin (TTM)13.4%
SectorTechnology
IndustryHardware, Equipment & Parts
CountryJP
Data as of2025-12-30
Moat score
75/ 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 Murata Manufacturing Co., Ltd.'s moat claims, evidence, and risks.

View 6981 analysis

Watsco, Inc.

WSO · New York Stock Exchange

Market cap (USD)$14.4B
Gross margin (TTM)28.3%
Operating margin (TTM)10.2%
Net margin (TTM)7.4%
SectorIndustrials
IndustryIndustrial - Distribution
CountryUS
Data as of2026-01-05
Moat score
72/ 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 Watsco, Inc.'s moat claims, evidence, and risks.

View WSO analysis

Comparison highlights

  • Moat score gap: Murata Manufacturing Co., Ltd. leads (75 / 100 vs 72 / 100 for Watsco, Inc.).
  • Segment focus: Murata Manufacturing Co., Ltd. has 6 segments (47.7% in Capacitors (primarily MLCC)); Watsco, Inc. has 1 segment (100% in HVAC/R Distribution).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Murata Manufacturing Co., Ltd. has 8 moat types across 4 domains; Watsco, Inc. has 4 across 3.

Primary market context

Murata Manufacturing Co., Ltd.

Capacitors (primarily MLCC)

Market

Multilayer ceramic capacitors (MLCC) and related capacitors

Geography

Global

Customer

Electronics OEMs and tier-1 suppliers (smartphone, PC/server, automotive, industrial)

Role

Component manufacturer / supplier

Revenue share

47.7%

Watsco, Inc.

HVAC/R Distribution

Market

HVAC/R equipment, parts and supplies distribution

Geography

North America (U.S., Canada, Mexico, Puerto Rico; export to Latin America/Caribbean)

Customer

Licensed HVAC and refrigeration contractors (residential & commercial)

Role

Wholesale distributor

Revenue share

100%

Side-by-side metrics

Murata Manufacturing Co., Ltd.
Watsco, Inc.
Ticker / Exchange
6981 - Tokyo Stock Exchange
WSO - New York Stock Exchange
Market cap (USD)
$6.2T
$14.4B
Gross margin (TTM)
41.4%
28.3%
Operating margin (TTM)
16.8%
10.2%
Net margin (TTM)
13.4%
7.4%
Sector
Technology
Industrials
Industry
Hardware, Equipment & Parts
Industrial - Distribution
HQ country
JP
US
Primary segment
Capacitors (primarily MLCC)
HVAC/R Distribution
Market structure
Oligopoly
Competitive
Market share
38%-42% (reported)
9%-12% (implied)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
75 / 100
72 / 100
Moat domains
Supply, Demand, Financial, Legal
Supply, Legal, Demand
Last update
2025-12-30
2026-01-05

Moat coverage

Shared moat types

No overlap yet.

Murata Manufacturing Co., Ltd. strengths

Capex Knowhow ScaleLearning Curve YieldDesign In QualificationBenchmark Pricing PowerBrand TrustIP Choke PointCompliance AdvantageResidual segment

Watsco, Inc. strengths

Physical Network DensityContractual ExclusivityScale Economies Unit CostData Workflow Lockin

Segment mix

Murata Manufacturing Co., Ltd. segments

Full profile >

Capacitors (primarily MLCC)

Oligopoly

47.7%

Inductors and EMI Filters

Oligopoly

11.5%

High-Frequency Devices and Communications Modules

Oligopoly

25.4%

Batteries and Power Supply

Competitive

8.9%

Functional Devices (including sensors)

Competitive

5.6%

Other

Competitive

0.9%

Watsco, Inc. segments

Full profile >

HVAC/R Distribution

Competitive

100%

Want the full wide moat stocks list?

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Proven models entering the expansion stage with unit economics that 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.