VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Alcon Inc. vs Costco Wholesale Corporation

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

Costco Wholesale Corporation

COST · Nasdaq Global Select Market

Market cap (USD)$410.5B
Gross margin (TTM)12.9%
Operating margin (TTM)3.8%
Net margin (TTM)3%
SectorConsumer
IndustryDiscount Stores
CountryUS
Data as of2025-12-21
Moat score
80/ 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 Costco Wholesale Corporation's moat claims, evidence, and risks.

View COST analysis

Comparison highlights

  • Moat score gap: Costco Wholesale Corporation leads (80 / 100 vs 71 / 100 for Alcon Inc.).
  • Segment focus: Alcon Inc. has 2 segments (56% in Surgical); Costco Wholesale Corporation has 2 segments (98.1% in Warehouse club retail).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Weak.
  • Moat breadth: Alcon Inc. has 7 moat types across 3 domains; Costco Wholesale Corporation has 6 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%

Costco Wholesale Corporation

Warehouse club retail

Market

Membership warehouse club retail (warehouse clubs, ancillary services, and e-commerce)

Geography

Global

Customer

Households and small businesses

Role

Retailer (membership club)

Revenue share

98.1%

Side-by-side metrics

Alcon Inc.
Costco Wholesale Corporation
Ticker / Exchange
ALC - New York Stock Exchange
COST - Nasdaq Global Select Market
Market cap (USD)
$39.8B
$410.5B
Gross margin (TTM)
n/a
12.9%
Operating margin (TTM)
n/a
3.8%
Net margin (TTM)
n/a
3%
Sector
Healthcare
Consumer
Industry
n/a
Discount Stores
HQ country
CH
US
Primary segment
Surgical
Warehouse club retail
Market structure
Oligopoly
Oligopoly
Market share
40%-46% (implied)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Weak
Moat score
71 / 100
80 / 100
Moat domains
Demand, Supply, Legal
Supply, Financial, Demand
Last update
2026-01-10
2025-12-21

Moat coverage

Shared moat types

Brand Trust

Alcon Inc. strengths

Installed Base ConsumablesSuite BundlingService Field NetworkCompliance AdvantageProcurement InertiaCapex Knowhow Scale

Costco Wholesale Corporation strengths

Scale Economies Unit CostOperational ExcellenceNegative Working CapitalHabit DefaultFloat Prepayment

Segment mix

Alcon Inc. segments

Full profile >

Surgical

Oligopoly

56%

Vision Care

Oligopoly

44%

Costco Wholesale Corporation segments

Full profile >

Warehouse club retail

Oligopoly

98.1%

Membership fees (subscription)

Oligopoly

1.9%

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.