VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Allegion Public Limited Company vs Waters Corporation

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Allegion Public Limited Company

ALLE · New York Stock Exchange

Market cap (USD)$14B
Gross margin (TTM)45.1%
Operating margin (TTM)21%
Net margin (TTM)16.1%
SectorIndustrials
IndustrySecurity & Protection Services
CountryIE
Data as of2025-12-26
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 Allegion Public Limited Company's moat claims, evidence, and risks.

View ALLE analysis

Waters Corporation

WAT · New York Stock Exchange

Market cap (USD)$23.7B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorHealthcare
Industry
CountryUS
Data as of2026-01-09
Moat score
66/ 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 Waters Corporation's moat claims, evidence, and risks.

View WAT analysis

Comparison highlights

  • Moat score gap: Waters Corporation leads (66 / 100 vs 64 / 100 for Allegion Public Limited Company).
  • Segment focus: Allegion Public Limited Company has 2 segments (79.9% in Allegion Americas); Waters Corporation has 4 segments (34.9% in Waters instrument systems).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Allegion Public Limited Company has 6 moat types across 3 domains; Waters Corporation has 7 across 2.

Primary market context

Allegion Public Limited Company

Allegion Americas

Market

Security products, access solutions, and related services (mechanical + electronic) in North America

Geography

North America

Customer

Commercial, institutional, and residential facilities; channel partners (distributors, installers, retailers)

Role

Manufacturer/brand owner; sells via distribution/retail; provides services and some SaaS

Revenue share

79.9%

Waters Corporation

Waters instrument systems

Market

Liquid chromatography (LC/UPLC) and mass spectrometry (MS) analytical instrument systems (including LC-MS workflows and instrument control/data system software)

Geography

Global

Customer

Pharma/biotech, industrial, academic and government laboratories

Role

OEM + software/platform provider

Revenue share

34.9%

Side-by-side metrics

Allegion Public Limited Company
Waters Corporation
Ticker / Exchange
ALLE - New York Stock Exchange
WAT - New York Stock Exchange
Market cap (USD)
$14B
$23.7B
Gross margin (TTM)
45.1%
n/a
Operating margin (TTM)
21%
n/a
Net margin (TTM)
16.1%
n/a
Sector
Industrials
Healthcare
Industry
Security & Protection Services
n/a
HQ country
IE
US
Primary segment
Allegion Americas
Waters instrument systems
Market structure
Competitive
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
64 / 100
66 / 100
Moat domains
Demand, Supply, Legal
Demand, Supply
Last update
2025-12-26
2026-01-09

Moat coverage

Shared moat types

Design In QualificationBrand TrustService Field NetworkData Workflow Lockin

Allegion Public Limited Company strengths

Distribution ControlCompliance Advantage

Waters Corporation strengths

Installed Base ConsumablesSupply Chain ControlLong Term Contracts

Segment mix

Allegion Public Limited Company segments

Full profile >

Allegion Americas

Competitive

79.9%

Allegion International

Competitive

20.1%

Waters Corporation segments

Full profile >

Waters instrument systems

Oligopoly

34.9%

Chemistry consumables

Competitive

19.1%

Waters service & software maintenance

Competitive

34%

TA instrument systems & service

Oligopoly

12%

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.