VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Alcon Inc. vs Manhattan Associates, 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

Manhattan Associates, Inc.

MANH · The Nasdaq Stock Market LLC

Market cap (USD)$10.6B
Gross margin (TTM)55.9%
Operating margin (TTM)25.9%
Net margin (TTM)20.3%
SectorTechnology
IndustrySoftware - Application
CountryUS
Data as of2025-12-28
Moat score
56/ 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 Manhattan Associates, Inc.'s moat claims, evidence, and risks.

View MANH analysis

Comparison highlights

  • Moat score gap: Alcon Inc. leads (71 / 100 vs 56 / 100 for Manhattan Associates, Inc.).
  • Segment focus: Alcon Inc. has 2 segments (56% in Surgical); Manhattan Associates, Inc. has 4 segments (50.4% in Professional services (implementation, consulting, training)).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Weak.
  • Moat breadth: Alcon Inc. has 7 moat types across 3 domains; Manhattan Associates, Inc. has 7 across 1.

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%

Manhattan Associates, Inc.

Professional services (implementation, consulting, training)

Market

Supply chain & omnichannel software implementation and consulting services

Geography

Global

Customer

Enterprises implementing or expanding supply chain/omnichannel systems

Role

Implementation and advisory services provider

Revenue share

50.4%

Side-by-side metrics

Alcon Inc.
Manhattan Associates, Inc.
Ticker / Exchange
ALC - New York Stock Exchange
MANH - The Nasdaq Stock Market LLC
Market cap (USD)
$39.8B
$10.6B
Gross margin (TTM)
n/a
55.9%
Operating margin (TTM)
n/a
25.9%
Net margin (TTM)
n/a
20.3%
Sector
Healthcare
Technology
Industry
n/a
Software - Application
HQ country
CH
US
Primary segment
Surgical
Professional services (implementation, consulting, training)
Market structure
Oligopoly
Competitive
Market share
40%-46% (implied)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Weak
Moat score
71 / 100
56 / 100
Moat domains
Demand, Supply, Legal
Demand
Last update
2026-01-10
2025-12-28

Moat coverage

Shared moat types

Installed Base ConsumablesSuite BundlingProcurement Inertia

Alcon Inc. strengths

Service Field NetworkCompliance AdvantageBrand TrustCapex Knowhow Scale

Manhattan Associates, Inc. strengths

Data Workflow LockinLong Term ContractsReputation ReviewsSwitching Costs General

Segment mix

Alcon Inc. segments

Full profile >

Surgical

Oligopoly

56%

Vision Care

Oligopoly

44%

Manhattan Associates, Inc. segments

Full profile >

Cloud subscriptions (Manhattan Active SaaS)

Oligopoly

32.4%

Professional services (implementation, consulting, training)

Competitive

50.4%

Maintenance and support (legacy perpetual licenses)

Monopoly

13.3%

Perpetual licenses and hardware

Competitive

4%

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.