VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Alcon Inc. vs Roche Holding AG

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

Roche Holding AG

ROG · SIX Swiss Exchange

Market cap (USD)$271.4B
Gross margin (TTM)73.6%
Operating margin (TTM)29.1%
Net margin (TTM)15.4%
SectorHealthcare
IndustryDrug Manufacturers - General
CountryCH
Data as of2025-12-28
Moat score
68/ 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 Roche Holding AG's moat claims, evidence, and risks.

View ROG analysis

Comparison highlights

  • Moat score gap: Alcon Inc. leads (71 / 100 vs 68 / 100 for Roche Holding AG).
  • Segment focus: Alcon Inc. has 2 segments (56% in Surgical); Roche Holding AG has 2 segments (76.3% in Pharmaceuticals).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Alcon Inc. has 7 moat types across 3 domains; Roche Holding AG has 5 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%

Roche Holding AG

Pharmaceuticals

Market

Innovative (branded) prescription pharmaceuticals

Geography

Global

Customer

Healthcare providers and systems (hospitals/clinics), payers/governments, and patients

Role

Innovator pharmaceutical developer, manufacturer and marketer

Revenue share

76.3%

Side-by-side metrics

Alcon Inc.
Roche Holding AG
Ticker / Exchange
ALC - New York Stock Exchange
ROG - SIX Swiss Exchange
Market cap (USD)
$39.8B
$271.4B
Gross margin (TTM)
n/a
73.6%
Operating margin (TTM)
n/a
29.1%
Net margin (TTM)
n/a
15.4%
Sector
Healthcare
Healthcare
Industry
n/a
Drug Manufacturers - General
HQ country
CH
CH
Primary segment
Surgical
Pharmaceuticals
Market structure
Oligopoly
Competitive
Market share
40%-46% (implied)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
71 / 100
68 / 100
Moat domains
Demand, Supply, Legal
Legal, Supply, Demand
Last update
2026-01-10
2025-12-28

Moat coverage

Shared moat types

Installed Base ConsumablesCapex Knowhow Scale

Alcon Inc. strengths

Suite BundlingService Field NetworkCompliance AdvantageBrand TrustProcurement Inertia

Roche Holding AG strengths

IP Choke PointData Workflow LockinRegulated Standards Pipe

Segment mix

Alcon Inc. segments

Full profile >

Surgical

Oligopoly

56%

Vision Care

Oligopoly

44%

Roche Holding AG segments

Full profile >

Pharmaceuticals

Competitive

76.3%

Diagnostics

Oligopoly

23.7%

Want the full wide moat stocks list?

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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.