VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

AMETEK, Inc. vs Fortinet, Inc.

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

AMETEK, Inc.

AME · New York Stock Exchange

Market cap (USD)$47.3B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorIndustrials
Industry
CountryUS
Data as of2026-01-02
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 AMETEK, Inc.'s moat claims, evidence, and risks.

View AME analysis

Fortinet, Inc.

FTNT · NASDAQ

Market cap (USD)$59.6B
Gross margin (TTM)81.3%
Operating margin (TTM)31%
Net margin (TTM)28.6%
SectorTechnology
IndustrySoftware - Infrastructure
CountryUS
Data as of2025-12-26
Moat score
84/ 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 Fortinet, Inc.'s moat claims, evidence, and risks.

View FTNT analysis

Comparison highlights

  • Moat score gap: Fortinet, Inc. leads (84 / 100 vs 66 / 100 for AMETEK, Inc.).
  • Segment focus: AMETEK, Inc. has 2 segments (67.1% in Electronic Instruments Group (EIG)); Fortinet, Inc. has 2 segments (68% in Subscriptions & Support Services).
  • Primary market structure: Oligopoly vs Quasi-Monopoly. Pricing power: Strong vs Strong.
  • Moat breadth: AMETEK, Inc. has 3 moat types across 1 domains; Fortinet, Inc. has 7 across 3.

Primary market context

AMETEK, Inc.

Electronic Instruments Group (EIG)

Market

Advanced analytical, test and measurement instruments

Geography

Global

Customer

B2B (process, industrial, aerospace, medical, research)

Role

Instrument/OEM supplier

Revenue share

67.1%

Fortinet, Inc.

Subscriptions & Support Services

Market

Cybersecurity subscriptions and technical support for Fortinet installed base (FortiGuard + FortiCare)

Geography

Global

Customer

Installed-base enterprises and channel partners

Role

Vendor (subscription/support services)

Revenue share

68%

Side-by-side metrics

AMETEK, Inc.
Fortinet, Inc.
Ticker / Exchange
AME - New York Stock Exchange
FTNT - NASDAQ
Market cap (USD)
$47.3B
$59.6B
Gross margin (TTM)
n/a
81.3%
Operating margin (TTM)
n/a
31%
Net margin (TTM)
n/a
28.6%
Sector
Industrials
Technology
Industry
n/a
Software - Infrastructure
HQ country
US
US
Primary segment
Electronic Instruments Group (EIG)
Subscriptions & Support Services
Market structure
Oligopoly
Quasi-Monopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Strong
Moat score
66 / 100
84 / 100
Moat domains
Supply
Demand, Supply, Financial
Last update
2026-01-02
2025-12-26

Moat coverage

Shared moat types

Scope Economies

AMETEK, Inc. strengths

Capex Knowhow ScaleOperational Excellence

Fortinet, Inc. strengths

Suite BundlingKeystone ComponentBenchmark Pricing PowerInstalled Base ConsumablesLong Term ContractsSwitching Costs General

Segment mix

AMETEK, Inc. segments

Full profile >

Electronic Instruments Group (EIG)

Oligopoly

67.1%

Electromechanical Group (EMG)

Competitive

32.9%

Fortinet, Inc. segments

Full profile >

Secure Networking Products

Oligopoly

32%

Subscriptions & Support Services

Quasi-Monopoly

68%

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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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.