VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Alcon Inc. vs Sanofi

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

Sanofi

SAN · Euronext Paris

Market cap (USD)$102.9B
Gross margin (TTM)72%
Operating margin (TTM)18.7%
Net margin (TTM)20.2%
SectorHealthcare
IndustryDrug Manufacturers - General
CountryFR
Data as of2025-12-30
Moat score
74/ 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 Sanofi's moat claims, evidence, and risks.

View SAN analysis

Comparison highlights

  • Moat score gap: Sanofi leads (74 / 100 vs 71 / 100 for Alcon Inc.).
  • Segment focus: Alcon Inc. has 2 segments (56% in Surgical); Sanofi has 3 segments (79.8% in Pharma (Prescription Medicines)).
  • Moat breadth: Alcon Inc. has 7 moat types across 3 domains; Sanofi 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%

Sanofi

Pharma (Prescription Medicines)

Market

Branded prescription pharmaceuticals (immunology, rare disease, neurology, oncology, general medicines)

Geography

Global

Customer

Patients via payers/providers and channel partners (wholesalers, pharmacies, hospitals)

Role

Research-based drug developer, manufacturer, and marketer

Revenue share

79.8%

Side-by-side metrics

Alcon Inc.
Sanofi
Ticker / Exchange
ALC - New York Stock Exchange
SAN - Euronext Paris
Market cap (USD)
$39.8B
$102.9B
Gross margin (TTM)
n/a
72%
Operating margin (TTM)
n/a
18.7%
Net margin (TTM)
n/a
20.2%
Sector
Healthcare
Healthcare
Industry
n/a
Drug Manufacturers - General
HQ country
CH
FR
Primary segment
Surgical
Pharma (Prescription Medicines)
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
74 / 100
Moat domains
Demand, Supply, Legal
Legal, Supply, Demand
Last update
2026-01-10
2025-12-30

Moat coverage

Shared moat types

Brand Trust

Alcon Inc. strengths

Installed Base ConsumablesSuite BundlingService Field NetworkCompliance AdvantageProcurement InertiaCapex Knowhow Scale

Sanofi strengths

Regulated Standards PipeIP Choke PointLearning Curve YieldDistribution Control

Segment mix

Alcon Inc. segments

Full profile >

Surgical

Oligopoly

56%

Vision Care

Oligopoly

44%

Sanofi segments

Full profile >

Pharma (Prescription Medicines)

Oligopoly

79.8%

Vaccines

Oligopoly

20.2%

Opella (Consumer Healthcare - Sanofi minority stake)

Competitive

n/a

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.