VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Alcon Inc. vs Mastercard Incorporated

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

Mastercard Incorporated

MA · New York Stock Exchange

Market cap (USD)$516.8B
Gross margin (TTM)77.5%
Operating margin (TTM)57%
Net margin (TTM)45.3%
SectorFinancials
IndustryFinancial - Credit Services
CountryUS
Data as of2025-12-21
Moat score
77/ 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 Mastercard Incorporated's moat claims, evidence, and risks.

View MA analysis

Comparison highlights

  • Moat score gap: Mastercard Incorporated leads (77 / 100 vs 71 / 100 for Alcon Inc.).
  • Segment focus: Alcon Inc. has 2 segments (56% in Surgical); Mastercard Incorporated has 2 segments (61.5% in Payment Network).
  • Moat breadth: Alcon Inc. has 7 moat types across 3 domains; Mastercard Incorporated 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%

Mastercard Incorporated

Payment Network

Market

Four-party card payment network (switching, acceptance, and network-related services)

Geography

Global

Customer

Issuers, acquirers, merchants, account holders

Role

Network operator (authorization, clearing, settlement) and rules/standards steward

Revenue share

61.5%

Side-by-side metrics

Alcon Inc.
Mastercard Incorporated
Ticker / Exchange
ALC - New York Stock Exchange
MA - New York Stock Exchange
Market cap (USD)
$39.8B
$516.8B
Gross margin (TTM)
n/a
77.5%
Operating margin (TTM)
n/a
57%
Net margin (TTM)
n/a
45.3%
Sector
Healthcare
Financials
Industry
n/a
Financial - Credit Services
HQ country
CH
US
Primary segment
Surgical
Payment Network
Market structure
Oligopoly
Oligopoly
Market share
40%-46% (implied)
29.7% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
71 / 100
77 / 100
Moat domains
Demand, Supply, Legal
Network, Demand, Legal
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

Mastercard Incorporated strengths

Two Sided NetworkClearing SettlementRegulated Standards PipeData Network EffectsData Workflow Lockin

Segment mix

Alcon Inc. segments

Full profile >

Surgical

Oligopoly

56%

Vision Care

Oligopoly

44%

Mastercard Incorporated segments

Full profile >

Payment Network

Oligopoly

61.5%

Value-Added Services and Solutions

Competitive

38.5%

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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Proven models entering the expansion stage with unit economics that work.

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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.