VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

BAE Systems plc vs Vulcan Materials Company

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)$51.1B
Gross margin (TTM)8.6%
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

Vulcan Materials Company

VMC · New York Stock Exchange

Market cap (USD)$38.3B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorMaterials
IndustryConstruction Materials
CountryUS
Data as of2026-01-01
Moat score
73/ 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 Vulcan Materials Company's moat claims, evidence, and risks.

View VMC analysis

Comparison highlights

  • Moat score gap: BAE Systems plc leads (75 / 100 vs 73 / 100 for Vulcan Materials Company).
  • Segment focus: BAE Systems plc has 5 segments (26.6% in Electronic Systems); Vulcan Materials Company has 3 segments (74.4% in Aggregates).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: BAE Systems plc has 8 moat types across 3 domains; Vulcan Materials Company has 5 across 2.

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%

Vulcan Materials Company

Aggregates

Market

Construction aggregates (crushed stone, sand & gravel)

Geography

United States (local/regional markets)

Customer

Construction contractors and public infrastructure agencies

Role

Upstream raw materials producer

Revenue share

74.4%

Side-by-side metrics

BAE Systems plc
Vulcan Materials Company
Ticker / Exchange
BA. - London Stock Exchange
VMC - New York Stock Exchange
Market cap (USD)
$51.1B
$38.3B
Gross margin (TTM)
8.6%
n/a
Operating margin (TTM)
9.3%
n/a
Net margin (TTM)
7.4%
n/a
Sector
Industrials
Materials
Industry
Aerospace & Defense
Construction Materials
HQ country
GB
US
Primary segment
Electronic Systems
Aggregates
Market structure
Oligopoly
Oligopoly
Market share
n/a
8%-11% (implied)
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
75 / 100
73 / 100
Moat domains
Legal, Demand, Supply
Legal, Supply
Last update
2025-12-28
2026-01-01

Moat coverage

Shared moat types

No overlap yet.

BAE Systems plc strengths

Government Contracting RelationshipsDesign In QualificationCompliance AdvantageService Field NetworkLong Term ContractsCapex Knowhow ScaleCapacity MoatSwitching Costs General

Vulcan Materials Company strengths

Permits Rights Of WayGeographic NaturalPhysical Network DensityScale Economies Unit CostSupply Chain Control

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%

Vulcan Materials Company segments

Full profile >

Aggregates

Oligopoly

74.4%

Asphalt

Competitive

16.8%

Concrete

Competitive

8.8%

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.