VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Amgen Inc. vs Morningstar, Inc.

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)$175.6B
Gross margin (TTM)66.2%
Operating margin (TTM)24.1%
Net margin (TTM)19.5%
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

Morningstar, Inc.

MORN · NASDAQ

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
Industry
CountryUS
Data as of2026-01-10
Moat score
67/ 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 Morningstar, Inc.'s moat claims, evidence, and risks.

View MORN analysis

Comparison highlights

  • Moat score gap: Amgen Inc. leads (70 / 100 vs 67 / 100 for Morningstar, Inc.).
  • Segment focus: Amgen Inc. has 3 segments (80.1% in Core Innovative Medicines); Morningstar, Inc. has 7 segments (34.6% in Morningstar Data and Analytics).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Amgen Inc. has 5 moat types across 3 domains; Morningstar, Inc. has 6 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%

Morningstar, Inc.

Morningstar Data and Analytics

Market

Investment data, research, and analytics platforms

Geography

Global

Revenue share

34.6%

Side-by-side metrics

Amgen Inc.
Morningstar, Inc.
Ticker / Exchange
AMGN - Nasdaq Stock Market
MORN - NASDAQ
Market cap (USD)
$175.6B
n/a
Gross margin (TTM)
66.2%
n/a
Operating margin (TTM)
24.1%
n/a
Net margin (TTM)
19.5%
n/a
Sector
Healthcare
Financials
Industry
Drug Manufacturers - General
n/a
HQ country
US
US
Primary segment
Core Innovative Medicines
Morningstar Data and Analytics
Market structure
Competitive
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
70 / 100
67 / 100
Moat domains
Legal, Supply, Demand
Demand, Network, Legal
Last update
2025-12-22
2026-01-10

Moat coverage

Shared moat types

IP Choke PointRegulated Standards Pipe

Amgen Inc. strengths

Capex Knowhow ScaleBrand TrustLearning Curve Yield

Morningstar, Inc. strengths

Data Workflow LockinDe Facto StandardSuite BundlingTraining Org Change Costs

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%

Morningstar, Inc. segments

Full profile >

Morningstar Data and Analytics

Oligopoly

34.6%

PitchBook

Oligopoly

27.2%

Morningstar Credit

Oligopoly

12.8%

Morningstar Wealth

Competitive

10.9%

Morningstar Retirement

Competitive

5.6%

Morningstar Sustainalytics

Oligopoly

5.2%

Morningstar Indexes

Oligopoly

3.7%

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.