VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Aon plc vs Morningstar, Inc.

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

Aon plc

AON · New York Stock Exchange

Market cap (USD)$75.9B
Gross margin (TTM)43.7%
Operating margin (TTM)24.8%
Net margin (TTM)16%
SectorFinancials
IndustryInsurance - Brokers
CountryIE
Data as of2025-12-31
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 Aon plc's moat claims, evidence, and risks.

View AON 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: Aon plc leads (70 / 100 vs 67 / 100 for Morningstar, Inc.).
  • Segment focus: Aon plc has 2 segments (67% in Risk Capital); Morningstar, Inc. has 7 segments (34.6% in Morningstar Data and Analytics).
  • Moat breadth: Aon plc has 6 moat types across 3 domains; Morningstar, Inc. has 6 across 3.

Primary market context

Aon plc

Risk Capital

Market

Large-account commercial insurance & reinsurance brokerage and risk advisory

Geography

Global

Customer

Enterprises, insurers, reinsurers

Role

Intermediary/advisor

Revenue share

67%

Morningstar, Inc.

Morningstar Data and Analytics

Market

Investment data, research, and analytics platforms

Geography

Global

Revenue share

34.6%

Side-by-side metrics

Aon plc
Morningstar, Inc.
Ticker / Exchange
AON - New York Stock Exchange
MORN - NASDAQ
Market cap (USD)
$75.9B
n/a
Gross margin (TTM)
43.7%
n/a
Operating margin (TTM)
24.8%
n/a
Net margin (TTM)
16%
n/a
Sector
Financials
Financials
Industry
Insurance - Brokers
n/a
HQ country
IE
US
Primary segment
Risk Capital
Morningstar Data and Analytics
Market structure
Oligopoly
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
Demand, Supply, Legal
Demand, Network, Legal
Last update
2025-12-31
2026-01-10

Moat coverage

Shared moat types

Data Workflow Lockin

Aon plc strengths

Switching Costs GeneralService Field NetworkBrand TrustCompliance AdvantageScale Economies Unit Cost

Morningstar, Inc. strengths

De Facto StandardRegulated Standards PipeSuite BundlingTraining Org Change CostsIP Choke Point

Segment mix

Aon plc segments

Full profile >

Risk Capital

Oligopoly

67%

Human Capital

Oligopoly

33.2%

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?

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.