VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Alcon Inc. vs Edwards Lifesciences 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)$40.9B
Gross margin (TTM)55.1%
Operating margin (TTM)14.2%
Net margin (TTM)10.3%
SectorHealthcare
IndustryMedical - Instruments & Supplies
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

Edwards Lifesciences Corporation

EW · New York Stock Exchange

Market cap (USD)$46.8B
Gross margin (TTM)78.1%
Operating margin (TTM)26.7%
Net margin (TTM)17.6%
SectorHealthcare
IndustryMedical - Devices
CountryUS
Data as of2025-12-31
Moat score
82/ 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 Edwards Lifesciences Corporation's moat claims, evidence, and risks.

View EW analysis

Comparison highlights

  • Moat score gap: Edwards Lifesciences Corporation leads (82 / 100 vs 71 / 100 for Alcon Inc.).
  • Segment focus: Alcon Inc. has 2 segments (56% in Surgical); Edwards Lifesciences Corporation has 3 segments (75.5% in Transcatheter Aortic Valve Replacement (TAVR)).
  • Moat breadth: Alcon Inc. has 7 moat types across 3 domains; Edwards Lifesciences 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%

Edwards Lifesciences Corporation

Transcatheter Aortic Valve Replacement (TAVR)

Market

Transcatheter aortic valve replacement (TAVR) devices

Geography

Global

Customer

Hospitals and structural heart centers

Role

Medical device manufacturer

Revenue share

75.5%

Side-by-side metrics

Alcon Inc.
Edwards Lifesciences Corporation
Ticker / Exchange
ALC - New York Stock Exchange
EW - New York Stock Exchange
Market cap (USD)
$40.9B
$46.8B
Gross margin (TTM)
55.1%
78.1%
Operating margin (TTM)
14.2%
26.7%
Net margin (TTM)
10.3%
17.6%
Sector
Healthcare
Healthcare
Industry
Medical - Instruments & Supplies
Medical - Devices
HQ country
CH
US
Primary segment
Surgical
Transcatheter Aortic Valve Replacement (TAVR)
Market structure
Oligopoly
Oligopoly
Market share
40%-46% (implied)
60%-73% (estimated)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
71 / 100
82 / 100
Moat domains
Demand, Supply, Legal
Demand, Legal, Supply
Last update
2026-01-10
2025-12-31

Moat coverage

Shared moat types

Compliance AdvantageBrand Trust

Alcon Inc. strengths

Installed Base ConsumablesSuite BundlingService Field NetworkProcurement InertiaCapex Knowhow Scale

Edwards Lifesciences Corporation strengths

Training Org Change CostsRegulated Standards PipeIP Choke PointSupply Chain Control

Segment mix

Alcon Inc. segments

Full profile >

Surgical

Oligopoly

56%

Vision Care

Oligopoly

44%

Edwards Lifesciences Corporation segments

Full profile >

Transcatheter Aortic Valve Replacement (TAVR)

Oligopoly

75.5%

Transcatheter Mitral and Tricuspid Therapies (TMTT)

Competitive

6.5%

Surgical Structural Heart

Oligopoly

18%

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.