VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Atlas Copco AB (publ) vs Waters Corporation

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

Atlas Copco AB (publ)

ATCO-A · Nasdaq Stockholm

Market cap (USD)$867.9B
Gross margin (TTM)42.7%
Operating margin (TTM)21%
Net margin (TTM)16.1%
SectorIndustrials
IndustryIndustrial - Machinery
CountrySE
Data as of2026-01-05
Moat score
63/ 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 Atlas Copco AB (publ)'s moat claims, evidence, and risks.

View ATCO-A 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 63 / 100 for Atlas Copco AB (publ)).
  • Segment focus: Atlas Copco AB (publ) has 4 segments (43.8% in Compressor Technique); Waters Corporation has 4 segments (34.9% in Waters instrument systems).
  • Moat breadth: Atlas Copco AB (publ) has 6 moat types across 2 domains; Waters Corporation has 7 across 2.

Primary market context

Atlas Copco AB (publ)

Compressor Technique

Market

Industrial compressors, air/gas systems (including air treatment) and related aftermarket service

Geography

Global

Customer

Industrial and process customers; distributors; service-contract customers

Role

Equipment OEM + aftermarket service provider

Revenue share

43.8%

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

Atlas Copco AB (publ)
Waters Corporation
Ticker / Exchange
ATCO-A - Nasdaq Stockholm
WAT - New York Stock Exchange
Market cap (USD)
$867.9B
$23.7B
Gross margin (TTM)
42.7%
n/a
Operating margin (TTM)
21%
n/a
Net margin (TTM)
16.1%
n/a
Sector
Industrials
Healthcare
Industry
Industrial - Machinery
n/a
HQ country
SE
US
Primary segment
Compressor Technique
Waters instrument systems
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
63 / 100
66 / 100
Moat domains
Supply, Demand
Demand, Supply
Last update
2026-01-05
2026-01-09

Moat coverage

Shared moat types

Service Field NetworkData Workflow LockinDesign In QualificationInstalled Base Consumables

Atlas Copco AB (publ) strengths

Learning Curve YieldCapacity Moat

Waters Corporation strengths

Brand TrustSupply Chain ControlLong Term Contracts

Segment mix

Atlas Copco AB (publ) segments

Full profile >

Compressor Technique

Oligopoly

43.8%

Vacuum Technique

Oligopoly

22.9%

Industrial Technique

Oligopoly

16.7%

Power Technique

Competitive

16.7%

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?

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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.