VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Arthur J. Gallagher & Co. vs Bio-Rad Laboratories, 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

Bio-Rad Laboratories, Inc.

BIO · New York Stock Exchange

Market cap (USD)$8.7B
Gross margin (TTM)52.3%
Operating margin (TTM)8.8%
Net margin (TTM)-26.4%
SectorHealthcare
IndustryMedical - Devices
CountryUS
Data as of2025-12-30
Moat score
61/ 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 Bio-Rad Laboratories, Inc.'s moat claims, evidence, and risks.

View BIO analysis

Comparison highlights

  • Moat score gap: Arthur J. Gallagher & Co. leads (69 / 100 vs 61 / 100 for Bio-Rad Laboratories, Inc.).
  • Segment focus: Arthur J. Gallagher & Co. has 2 segments (86% in Brokerage); Bio-Rad Laboratories, Inc. has 2 segments (59.9% in Clinical Diagnostics).
  • Moat breadth: Arthur J. Gallagher & Co. has 4 moat types across 2 domains; Bio-Rad Laboratories, Inc. has 6 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%

Bio-Rad Laboratories, Inc.

Clinical Diagnostics

Market

In vitro diagnostics test systems, reagents/test kits, informatics, and clinical laboratory quality controls

Geography

Global

Customer

Hospital laboratories; diagnostic reference laboratories; transfusion laboratories; physician office laboratories

Role

IVD OEM / installed-base consumables supplier (systems + kits + controls)

Revenue share

59.9%

Side-by-side metrics

Arthur J. Gallagher & Co.
Bio-Rad Laboratories, Inc.
Ticker / Exchange
AJG - New York Stock Exchange
BIO - New York Stock Exchange
Market cap (USD)
$67.9B
$8.7B
Gross margin (TTM)
n/a
52.3%
Operating margin (TTM)
n/a
8.8%
Net margin (TTM)
n/a
-26.4%
Sector
Financials
Healthcare
Industry
Insurance - Brokers
Medical - Devices
HQ country
US
US
Primary segment
Brokerage
Clinical Diagnostics
Market structure
Oligopoly
Oligopoly
Market share
n/a
9%-11% (implied)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
69 / 100
61 / 100
Moat domains
Supply, Demand
Supply, Demand, Legal
Last update
2026-01-09
2025-12-30

Moat coverage

Shared moat types

No overlap yet.

Arthur J. Gallagher & Co. strengths

Service Field NetworkBrand TrustData Workflow LockinOperational Excellence

Bio-Rad Laboratories, Inc. strengths

Scope EconomiesDistribution ControlCapex Knowhow ScaleInstalled Base ConsumablesSwitching Costs GeneralCompliance Advantage

Segment mix

Arthur J. Gallagher & Co. segments

Full profile >

Brokerage

Oligopoly

86%

Risk Management

Competitive

14%

Bio-Rad Laboratories, Inc. segments

Full profile >

Life Science

Competitive

40.1%

Clinical Diagnostics

Oligopoly

59.9%

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

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.