VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Amgen Inc. vs CSL Limited

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

Amgen Inc.

AMGN · Nasdaq Stock Market

Market cap (USD)$202B
Gross margin (TTM)70.5%
Operating margin (TTM)28%
Net margin (TTM)21%
SectorHealthcare
IndustryDrug Manufacturers - General
CountryUS
Data as of2025-12-22
Moat score
70/ 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 Amgen Inc.'s moat claims, evidence, and risks.

View AMGN analysis

CSL Limited

CSL · ASX

Market cap (USD)$74.4B
Gross margin (TTM)48.9%
Operating margin (TTM)23.3%
Net margin (TTM)14.9%
SectorHealthcare
IndustryBiotechnology
CountryAU
Data as of2026-01-02
Moat score
77/ 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 CSL Limited's moat claims, evidence, and risks.

View CSL analysis

Comparison highlights

  • Moat score gap: CSL Limited leads (77 / 100 vs 70 / 100 for Amgen Inc.).
  • Segment focus: Amgen Inc. has 3 segments (80.1% in Core Innovative Medicines); CSL Limited has 3 segments (71.7% in CSL Behring).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Amgen Inc. has 5 moat types across 3 domains; CSL Limited has 7 across 3.

Primary market context

Amgen Inc.

Core Innovative Medicines

Market

Branded biopharmaceutical therapies for common diseases (bone health, inflammation, oncology, cardiovascular and other specialty areas)

Geography

Global

Customer

Payers, providers, and pharmacies

Role

Drug developer/manufacturer

Revenue share

80.1%

CSL Limited

CSL Behring

Market

Plasma-derived therapies (immunoglobulins, albumin, coagulation factors) plus recombinant and gene therapies for rare and serious diseases

Geography

Global

Customer

Hospitals, specialty pharmacies, physicians; payers and national health systems

Role

Vertically integrated biopharma (plasma collection -> fractionation/manufacturing -> commercial distribution)

Revenue share

71.7%

Side-by-side metrics

Amgen Inc.
CSL Limited
Ticker / Exchange
AMGN - Nasdaq Stock Market
CSL - ASX
Market cap (USD)
$202B
$74.4B
Gross margin (TTM)
70.5%
48.9%
Operating margin (TTM)
28%
23.3%
Net margin (TTM)
21%
14.9%
Sector
Healthcare
Healthcare
Industry
Drug Manufacturers - General
Biotechnology
HQ country
US
AU
Primary segment
Core Innovative Medicines
CSL Behring
Market structure
Competitive
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
70 / 100
77 / 100
Moat domains
Legal, Supply, Demand
Supply, Legal, Demand
Last update
2025-12-22
2026-01-02

Moat coverage

Shared moat types

Regulated Standards Pipe

Amgen Inc. strengths

IP Choke PointCapex Knowhow ScaleBrand TrustLearning Curve Yield

CSL Limited strengths

Supply Chain ControlPhysical Network DensityOperational ExcellenceGovernment Contracting RelationshipsCapacity MoatProcurement Inertia

Segment mix

Amgen Inc. segments

Full profile >

Core Innovative Medicines

Competitive

80.1%

Rare Disease Portfolio (Horizon + others)

Quasi-Monopoly

13.3%

Biosimilars

Oligopoly

6.6%

CSL Limited segments

Full profile >

CSL Behring

Oligopoly

71.7%

CSL Seqirus

Oligopoly

13.9%

CSL Vifor

Oligopoly

14.4%

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.