VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Arthur J. Gallagher & Co. vs Alcon Inc.

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

Arthur J. Gallagher & Co.

AJG · New York Stock Exchange

Market cap (USD)$67.9B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
IndustryInsurance - Brokers
CountryUS
Data as of2026-01-09
Moat score
69/ 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 Arthur J. Gallagher & Co.'s moat claims, evidence, and risks.

View AJG analysis

Alcon Inc.

ALC · New York Stock Exchange

Market cap (USD)$39.8B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorHealthcare
Industry
CountryCH
Data as of2026-01-10
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 Alcon Inc.'s moat claims, evidence, and risks.

View ALC analysis

Comparison highlights

  • Moat score gap: Alcon Inc. leads (71 / 100 vs 69 / 100 for Arthur J. Gallagher & Co.).
  • Segment focus: Arthur J. Gallagher & Co. has 2 segments (86% in Brokerage); Alcon Inc. has 2 segments (56% in Surgical).
  • Moat breadth: Arthur J. Gallagher & Co. has 4 moat types across 2 domains; Alcon Inc. has 7 across 3.

Primary market context

Arthur J. Gallagher & Co.

Brokerage

Market

Insurance and reinsurance brokerage and consulting

Geography

Global

Customer

Commercial, industrial, public sector, nonprofit and other organizations; underwriting enterprises for reinsurance placements

Role

Intermediary / broker / advisor

Revenue share

86%

Alcon Inc.

Surgical

Market

Ophthalmic surgical devices (implantables, consumables, equipment) and related service/training

Geography

Global

Customer

Ophthalmic surgeons, hospitals, ambulatory surgery centers, group purchasing organizations

Role

Medical device OEM with direct service, clinical support, and training

Revenue share

56%

Side-by-side metrics

Arthur J. Gallagher & Co.
Alcon Inc.
Ticker / Exchange
AJG - New York Stock Exchange
ALC - New York Stock Exchange
Market cap (USD)
$67.9B
$39.8B
Gross margin (TTM)
n/a
n/a
Operating margin (TTM)
n/a
n/a
Net margin (TTM)
n/a
n/a
Sector
Financials
Healthcare
Industry
Insurance - Brokers
n/a
HQ country
US
CH
Primary segment
Brokerage
Surgical
Market structure
Oligopoly
Oligopoly
Market share
n/a
40%-46% (implied)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
69 / 100
71 / 100
Moat domains
Supply, Demand
Demand, Supply, Legal
Last update
2026-01-09
2026-01-10

Moat coverage

Shared moat types

Service Field NetworkBrand Trust

Arthur J. Gallagher & Co. strengths

Data Workflow LockinOperational Excellence

Alcon Inc. strengths

Installed Base ConsumablesSuite BundlingCompliance AdvantageProcurement InertiaCapex Knowhow Scale

Segment mix

Arthur J. Gallagher & Co. segments

Full profile >

Brokerage

Oligopoly

86%

Risk Management

Competitive

14%

Alcon Inc. segments

Full profile >

Surgical

Oligopoly

56%

Vision Care

Oligopoly

44%

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.