VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

BlackRock, Inc. vs VINCI SA

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

BlackRock, Inc.

BLK · New York Stock Exchange

Market cap (USD)$173.5B
Gross margin (TTM)51.6%
Operating margin (TTM)32.6%
Net margin (TTM)26.6%
SectorFinancials
IndustryAsset Management
CountryUS
Data as of2025-12-31
Moat score
59/ 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 BlackRock, Inc.'s moat claims, evidence, and risks.

View BLK analysis

VINCI SA

DG · Euronext Paris

Market cap (USD)$67.5B
Gross margin (TTM)16%
Operating margin (TTM)12.1%
Net margin (TTM)6.5%
SectorIndustrials
IndustryEngineering & Construction
CountryFR
Data as of2026-01-03
Moat score
57/ 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 VINCI SA's moat claims, evidence, and risks.

View DG analysis

Comparison highlights

  • Moat score gap: BlackRock, Inc. leads (59 / 100 vs 57 / 100 for VINCI SA).
  • Segment focus: BlackRock, Inc. has 7 segments (33% in iShares ETFs & ETPs); VINCI SA has 7 segments (44.4% in VINCI Construction).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Weak.
  • Moat breadth: BlackRock, Inc. has 10 moat types across 2 domains; VINCI SA has 7 across 2.

Primary market context

BlackRock, Inc.

iShares ETFs & ETPs

Market

Exchange-traded funds (ETFs) and exchange-traded products (ETPs)

Geography

Global

Customer

Institutional and retail (via intermediaries)

Role

ETF sponsor / asset manager

Revenue share

33%

VINCI SA

VINCI Construction

Market

Construction and civil engineering contracting (buildings, infrastructure and specialty networks)

Geography

Global

Customer

Public-sector project owners and private developers/industrial clients

Role

General contractor / civil engineering contractor

Revenue share

44.4%

Side-by-side metrics

BlackRock, Inc.
VINCI SA
Ticker / Exchange
BLK - New York Stock Exchange
DG - Euronext Paris
Market cap (USD)
$173.5B
$67.5B
Gross margin (TTM)
51.6%
16%
Operating margin (TTM)
32.6%
12.1%
Net margin (TTM)
26.6%
6.5%
Sector
Financials
Industrials
Industry
Asset Management
Engineering & Construction
HQ country
US
FR
Primary segment
iShares ETFs & ETPs
VINCI Construction
Market structure
Oligopoly
Competitive
Market share
28.3% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Weak
Moat score
59 / 100
57 / 100
Moat domains
Supply, Demand
Legal, Supply
Last update
2025-12-31
2026-01-03

Moat coverage

Shared moat types

Operational Excellence

BlackRock, Inc. strengths

Scale Economies Unit CostBrand TrustDistribution ControlSwitching Costs GeneralSuite BundlingProcurement InertiaLong Term ContractsScope EconomiesData Workflow Lockin

VINCI SA strengths

Concession LicensePermits Rights Of WayService Field NetworkCapex Knowhow ScaleCapacity MoatCompliance Advantage

Segment mix

BlackRock, Inc. segments

Full profile >

iShares ETFs & ETPs

Oligopoly

33%

Institutional Index Mandates (Non-ETF)

Oligopoly

5.7%

Active & Multi-Asset (Public Markets)

Competitive

27.5%

Alternatives & Private Markets

Oligopoly

13.5%

Cash Management (MMFs & cash solutions)

Competitive

5.1%

Aladdin & Technology Services

Oligopoly

7.9%

Distribution & Advisory Services

Competitive

7.3%

VINCI SA segments

Full profile >

VINCI Autoroutes

Monopoly

9.2%

VINCI Airports

Oligopoly

6.3%

Other concessions (incl. VINCI Highways and PPP assets)

Competitive

0.8%

VINCI Energies

Competitive

28.4%

Cobra IS

Competitive

9.9%

VINCI Construction

Competitive

44.4%

VINCI Immobilier

Competitive

1.6%

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.