VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Alcon Inc. vs Thermo Fisher Scientific 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)$40.9B
Gross margin (TTM)55.1%
Operating margin (TTM)14.2%
Net margin (TTM)10.3%
SectorHealthcare
IndustryMedical - Instruments & Supplies
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

Thermo Fisher Scientific Inc.

TMO · New York Stock Exchange

Market cap (USD)$192B
Gross margin (TTM)39.5%
Operating margin (TTM)18%
Net margin (TTM)15.1%
SectorHealthcare
IndustryMedical - Diagnostics & Research
CountryUS
Data as of2025-12-22
Moat score
64/ 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 Thermo Fisher Scientific Inc.'s moat claims, evidence, and risks.

View TMO analysis

Comparison highlights

  • Moat score gap: Alcon Inc. leads (71 / 100 vs 64 / 100 for Thermo Fisher Scientific Inc.).
  • Segment focus: Alcon Inc. has 2 segments (56% in Surgical); Thermo Fisher Scientific Inc. has 4 segments (53.6% in Laboratory Products and Biopharma Services).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Alcon Inc. has 7 moat types across 3 domains; Thermo Fisher Scientific Inc. has 8 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%

Thermo Fisher Scientific Inc.

Laboratory Products and Biopharma Services

Market

Laboratory supplies distribution/market channel plus outsourced biopharma services (CDMO/CRO)

Geography

Global

Customer

Pharma & biotech; academic/government labs; industrial and clinical laboratories

Role

Distributor/market channel and outsourced services provider

Revenue share

53.6%

Side-by-side metrics

Alcon Inc.
Thermo Fisher Scientific Inc.
Ticker / Exchange
ALC - New York Stock Exchange
TMO - New York Stock Exchange
Market cap (USD)
$40.9B
$192B
Gross margin (TTM)
55.1%
39.5%
Operating margin (TTM)
14.2%
18%
Net margin (TTM)
10.3%
15.1%
Sector
Healthcare
Healthcare
Industry
Medical - Instruments & Supplies
Medical - Diagnostics & Research
HQ country
CH
US
Primary segment
Surgical
Laboratory Products and Biopharma Services
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
64 / 100
Moat domains
Demand, Supply, Legal
Demand, Supply, Legal
Last update
2026-01-10
2025-12-22

Moat coverage

Shared moat types

Installed Base ConsumablesService Field NetworkBrand TrustProcurement Inertia

Alcon Inc. strengths

Suite BundlingCompliance AdvantageCapex Knowhow Scale

Thermo Fisher Scientific Inc. strengths

Format Lock InRegulated Standards PipeDistribution ControlCapacity Moat

Segment mix

Alcon Inc. segments

Full profile >

Surgical

Oligopoly

56%

Vision Care

Oligopoly

44%

Thermo Fisher Scientific Inc. segments

Full profile >

Life Sciences Solutions

Oligopoly

19%

Analytical Instruments

Oligopoly

17%

Specialty Diagnostics

Oligopoly

10.4%

Laboratory Products and Biopharma Services

Competitive

53.6%

Want the full wide moat stocks list?

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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.