VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Alcon Inc. vs BlackRock, Inc.

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

BlackRock, Inc.

BLK · New York Stock Exchange

Market cap (USD)$168.1B
Gross margin (TTM)51.6%
Operating margin (TTM)32.6%
Net margin (TTM)26.6%
SectorFinancials
IndustryAsset Management
CountryUS
Data as of2025-12-31
Moat score
59/ 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 BlackRock, Inc.'s moat claims, evidence, and risks.

View BLK analysis

Comparison highlights

  • Moat score gap: Alcon Inc. leads (71 / 100 vs 59 / 100 for BlackRock, Inc.).
  • Segment focus: Alcon Inc. has 2 segments (56% in Surgical); BlackRock, Inc. has 7 segments (33% in iShares ETFs & ETPs).
  • Moat breadth: Alcon Inc. has 7 moat types across 3 domains; BlackRock, Inc. has 10 across 2.

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%

BlackRock, Inc.

iShares ETFs & ETPs

Market

Exchange-traded funds (ETFs) and exchange-traded products (ETPs)

Geography

Global

Customer

Institutional and retail (via intermediaries)

Role

ETF sponsor / asset manager

Revenue share

33%

Side-by-side metrics

Alcon Inc.
BlackRock, Inc.
Ticker / Exchange
ALC - New York Stock Exchange
BLK - New York Stock Exchange
Market cap (USD)
$39.8B
$168.1B
Gross margin (TTM)
n/a
51.6%
Operating margin (TTM)
n/a
32.6%
Net margin (TTM)
n/a
26.6%
Sector
Healthcare
Financials
Industry
n/a
Asset Management
HQ country
CH
US
Primary segment
Surgical
iShares ETFs & ETPs
Market structure
Oligopoly
Oligopoly
Market share
40%-46% (implied)
28.3% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
71 / 100
59 / 100
Moat domains
Demand, Supply, Legal
Supply, Demand
Last update
2026-01-10
2025-12-31

Moat coverage

Shared moat types

Suite BundlingBrand TrustProcurement Inertia

Alcon Inc. strengths

Installed Base ConsumablesService Field NetworkCompliance AdvantageCapex Knowhow Scale

BlackRock, Inc. strengths

Scale Economies Unit CostDistribution ControlOperational ExcellenceSwitching Costs GeneralLong Term ContractsScope EconomiesData Workflow Lockin

Segment mix

Alcon Inc. segments

Full profile >

Surgical

Oligopoly

56%

Vision Care

Oligopoly

44%

BlackRock, Inc. segments

Full profile >

iShares ETFs & ETPs

Oligopoly

33%

Institutional Index Mandates (Non-ETF)

Oligopoly

5.7%

Active & Multi-Asset (Public Markets)

Competitive

27.5%

Alternatives & Private Markets

Oligopoly

13.5%

Cash Management (MMFs & cash solutions)

Competitive

5.1%

Aladdin & Technology Services

Oligopoly

7.9%

Distribution & Advisory Services

Competitive

7.3%

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.