VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Sunday, January 11, 2026

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Stock Comparison

Alcon Inc. vs American Express Company

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

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

American Express Company

AXP · New York Stock Exchange

Market cap (USD)$262.1B
Gross margin (TTM)83%
Operating margin (TTM)17.1%
Net margin (TTM)13.4%
SectorFinancials
IndustryFinancial - Credit Services
CountryUS
Data as of2025-12-30
Moat score
52/ 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 American Express Company's moat claims, evidence, and risks.

View AXP analysis

Comparison highlights

  • Moat score gap: Alcon Inc. leads (71 / 100 vs 52 / 100 for American Express Company).
  • Segment focus: Alcon Inc. has 2 segments (56% in Surgical); American Express Company has 4 segments (47.5% in U.S. Consumer Services (USCS)).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs n/a.
  • Moat breadth: Alcon Inc. has 7 moat types across 3 domains; American Express Company has 8 across 3.

Primary market context

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%

American Express Company

U.S. Consumer Services (USCS)

Market

U.S. premium consumer card issuing (charge and credit) and attached consumer banking and financing

Geography

United States

Customer

Consumers

Role

Issuer (proprietary cards) and consumer lender/services

Revenue share

47.5%

Side-by-side metrics

Alcon Inc.
American Express Company
Ticker / Exchange
ALC - New York Stock Exchange
AXP - New York Stock Exchange
Market cap (USD)
$39.8B
$262.1B
Gross margin (TTM)
n/a
83%
Operating margin (TTM)
n/a
17.1%
Net margin (TTM)
n/a
13.4%
Sector
Healthcare
Financials
Industry
n/a
Financial - Credit Services
HQ country
CH
US
Primary segment
Surgical
U.S. Consumer Services (USCS)
Market structure
Oligopoly
Competitive
Market share
40%-46% (implied)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
n/a
Moat score
71 / 100
52 / 100
Moat domains
Demand, Supply, Legal
Demand, Financial, Network
Last update
2026-01-10
2025-12-30

Moat coverage

Shared moat types

Brand Trust

Alcon Inc. strengths

Installed Base ConsumablesSuite BundlingService Field NetworkCompliance AdvantageProcurement InertiaCapex Knowhow Scale

American Express Company strengths

Switching Costs GeneralLong Term ContractsCost Of Capital AdvantageTraining Org Change CostsEcosystem ComplementsTwo Sided NetworkData Network Effects

Segment mix

Alcon Inc. segments

Full profile >

Surgical

Oligopoly

56%

Vision Care

Oligopoly

44%

American Express Company segments

Full profile >

U.S. Consumer Services (USCS)

Competitive

47.5%

Commercial Services (CS)

Competitive

23.9%

International Card Services (ICS)

Competitive

17.3%

Global Merchant and Network Services (GMNS)

Oligopoly

11.3%

Want the full wide moat stocks list?

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

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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.