VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

BAE Systems plc vs CSL Limited

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

BAE Systems plc

BA. · London Stock Exchange

Market cap (USD)$63.1B
Gross margin (TTM)8.7%
Operating margin (TTM)9.3%
Net margin (TTM)7.4%
SectorIndustrials
IndustryAerospace & Defense
CountryGB
Data as of2025-12-28
Moat score
75/ 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 BAE Systems plc's moat claims, evidence, and risks.

View BA. 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 75 / 100 for BAE Systems plc).
  • Segment focus: BAE Systems plc has 5 segments (26.6% in Electronic Systems); CSL Limited has 3 segments (71.7% in CSL Behring).
  • Moat breadth: BAE Systems plc has 8 moat types across 3 domains; CSL Limited has 7 across 3.

Primary market context

BAE Systems plc

Electronic Systems

Market

Defence electronics (electronic warfare, avionics, C4ISR, space payloads and mission systems)

Geography

Primarily US and UK; global programmes

Customer

Government defence and intelligence agencies; prime contractors

Role

Subsystem OEM and prime contractor for electronics/mission systems

Revenue share

26.6%

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

BAE Systems plc
CSL Limited
Ticker / Exchange
BA. - London Stock Exchange
CSL - ASX
Market cap (USD)
$63.1B
$74.4B
Gross margin (TTM)
8.7%
48.9%
Operating margin (TTM)
9.3%
23.3%
Net margin (TTM)
7.4%
14.9%
Sector
Industrials
Healthcare
Industry
Aerospace & Defense
Biotechnology
HQ country
GB
AU
Primary segment
Electronic Systems
CSL Behring
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
75 / 100
77 / 100
Moat domains
Legal, Demand, Supply
Supply, Legal, Demand
Last update
2025-12-28
2026-01-02

Moat coverage

Shared moat types

Government Contracting RelationshipsCapacity Moat

BAE Systems plc strengths

Design In QualificationCompliance AdvantageService Field NetworkLong Term ContractsCapex Knowhow ScaleSwitching Costs General

CSL Limited strengths

Supply Chain ControlPhysical Network DensityOperational ExcellenceRegulated Standards PipeProcurement Inertia

Segment mix

BAE Systems plc segments

Full profile >

Electronic Systems

Oligopoly

26.6%

Platforms & Services

Oligopoly

16.3%

Air

Oligopoly

26%

Maritime

Oligopoly

22.5%

Cyber & Intelligence

Competitive

8.6%

CSL Limited segments

Full profile >

CSL Behring

Oligopoly

71.7%

CSL Seqirus

Oligopoly

13.9%

CSL Vifor

Oligopoly

14.4%

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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.