VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Bio-Rad Laboratories, Inc. vs Norfolk Southern Corporation

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

Bio-Rad Laboratories, Inc.

BIO · New York Stock Exchange

Market cap (USD)$8.2B
Gross margin (TTM)52.3%
Operating margin (TTM)8.8%
Net margin (TTM)-26.4%
SectorHealthcare
IndustryMedical - Devices
CountryUS
Data as of2025-12-30
Moat score
61/ 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 Bio-Rad Laboratories, Inc.'s moat claims, evidence, and risks.

View BIO analysis

Norfolk Southern Corporation

NSC · New York Stock Exchange

Market cap (USD)$65B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorIndustrials
IndustryRailroads
CountryUS
Data as of2026-01-02
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 Norfolk Southern Corporation's moat claims, evidence, and risks.

View NSC analysis

Comparison highlights

  • Moat score gap: Norfolk Southern Corporation leads (70 / 100 vs 61 / 100 for Bio-Rad Laboratories, Inc.).
  • Segment focus: Bio-Rad Laboratories, Inc. has 2 segments (59.9% in Clinical Diagnostics); Norfolk Southern Corporation has 3 segments (62% in Merchandise).
  • Moat breadth: Bio-Rad Laboratories, Inc. has 6 moat types across 3 domains; Norfolk Southern Corporation has 4 across 3.

Primary market context

Bio-Rad Laboratories, Inc.

Clinical Diagnostics

Market

In vitro diagnostics test systems, reagents/test kits, informatics, and clinical laboratory quality controls

Geography

Global

Customer

Hospital laboratories; diagnostic reference laboratories; transfusion laboratories; physician office laboratories

Role

IVD OEM / installed-base consumables supplier (systems + kits + controls)

Revenue share

59.9%

Norfolk Southern Corporation

Merchandise

Market

Eastern U.S. freight rail transportation for industrial & consumer goods

Geography

United States (Southeast/East/Midwest; NS network + interchanges)

Customer

Manufacturers, producers, and distributors

Role

Rail carrier

Revenue share

62%

Side-by-side metrics

Bio-Rad Laboratories, Inc.
Norfolk Southern Corporation
Ticker / Exchange
BIO - New York Stock Exchange
NSC - New York Stock Exchange
Market cap (USD)
$8.2B
$65B
Gross margin (TTM)
52.3%
n/a
Operating margin (TTM)
8.8%
n/a
Net margin (TTM)
-26.4%
n/a
Sector
Healthcare
Industrials
Industry
Medical - Devices
Railroads
HQ country
US
US
Primary segment
Clinical Diagnostics
Merchandise
Market structure
Oligopoly
Oligopoly
Market share
9%-11% (implied)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
61 / 100
70 / 100
Moat domains
Supply, Demand, Legal
Supply, Legal, Demand
Last update
2025-12-30
2026-01-02

Moat coverage

Shared moat types

Switching Costs General

Bio-Rad Laboratories, Inc. strengths

Scope EconomiesDistribution ControlCapex Knowhow ScaleInstalled Base ConsumablesCompliance Advantage

Norfolk Southern Corporation strengths

Physical Network DensityPermits Rights Of WayScale Economies Unit Cost

Segment mix

Bio-Rad Laboratories, Inc. segments

Full profile >

Life Science

Competitive

40.1%

Clinical Diagnostics

Oligopoly

59.9%

Norfolk Southern Corporation segments

Full profile >

Merchandise

Oligopoly

62%

Intermodal

Oligopoly

25%

Coal

Oligopoly

13%

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.