VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Alcon Inc. vs Keysight Technologies, 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

Keysight Technologies, Inc.

KEYS · New York Stock Exchange

Market cap (USD)$35.6B
Gross margin (TTM)62.1%
Operating margin (TTM)17.6%
Net margin (TTM)15.7%
SectorTechnology
IndustryHardware, Equipment & Parts
CountryUS
Data as of2026-01-01
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 Keysight Technologies, Inc.'s moat claims, evidence, and risks.

View KEYS analysis

Comparison highlights

  • Moat score gap: Alcon Inc. leads (71 / 100 vs 69 / 100 for Keysight Technologies, Inc.).
  • Segment focus: Alcon Inc. has 2 segments (56% in Surgical); Keysight Technologies, Inc. has 2 segments (69.3% in Communications Solutions Group (CSG)).
  • Moat breadth: Alcon Inc. has 7 moat types across 3 domains; Keysight Technologies, Inc. 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%

Keysight Technologies, Inc.

Communications Solutions Group (CSG)

Market

Electronic design, test, and measurement solutions for communications networks and aerospace/defense/government systems

Geography

Global

Customer

Commercial communications OEMs and operators; aerospace/defense primes and government contractors/agencies

Role

Test & measurement instrumentation OEM + software platform + services provider

Revenue share

69.3%

Side-by-side metrics

Alcon Inc.
Keysight Technologies, Inc.
Ticker / Exchange
ALC - New York Stock Exchange
KEYS - New York Stock Exchange
Market cap (USD)
$39.8B
$35.6B
Gross margin (TTM)
n/a
62.1%
Operating margin (TTM)
n/a
17.6%
Net margin (TTM)
n/a
15.7%
Sector
Healthcare
Technology
Industry
n/a
Hardware, Equipment & Parts
HQ country
CH
US
Primary segment
Surgical
Communications Solutions Group (CSG)
Market structure
Oligopoly
Oligopoly
Market share
40%-46% (implied)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
71 / 100
69 / 100
Moat domains
Demand, Supply, Legal
Demand, Supply, Network
Last update
2026-01-10
2026-01-01

Moat coverage

Shared moat types

Service Field NetworkBrand Trust

Alcon Inc. strengths

Installed Base ConsumablesSuite BundlingCompliance AdvantageProcurement InertiaCapex Knowhow Scale

Keysight Technologies, Inc. strengths

Data Workflow LockinDesign In QualificationDe Facto StandardLearning Curve Yield

Segment mix

Alcon Inc. segments

Full profile >

Surgical

Oligopoly

56%

Vision Care

Oligopoly

44%

Keysight Technologies, Inc. segments

Full profile >

Communications Solutions Group (CSG)

Oligopoly

69.3%

Electronic Industrial Solutions Group (EISG)

Oligopoly

30.7%

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.