VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Friday, January 2, 2026

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Stock Comparison

BlackRock, Inc. vs Ecolab Inc.

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)$168.1B
Gross margin (TTM)51.6%
Operating margin (TTM)32.6%
Net margin (TTM)26.6%
SectorFinancials
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

Ecolab Inc.

ECL · New York Stock Exchange

Market cap (USD)—
Gross margin (TTM)44.3%
Operating margin (TTM)17.3%
Net margin (TTM)12.5%
SectorMaterials
CountryUS
Data as of2026-01-01
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 Ecolab Inc.'s moat claims, evidence, and risks.

View ECL analysis

Comparison highlights

  • Moat score gap: Ecolab Inc. leads (63 / 100 vs 59 / 100 for BlackRock, Inc.).
  • Segment focus: BlackRock, Inc. has 7 segments (33% in iShares ETFs & ETPs); Ecolab Inc. has 4 segments (49.5% in Global Industrial).
  • Moat breadth: BlackRock, Inc. has 10 moat types across 2 domains; Ecolab Inc. has 7 across 3.

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%

Ecolab Inc.

Global Industrial

Market

Industrial water treatment & process chemistry (incl. food & beverage processing and pulp & paper process aids)

Geography

Global

Customer

B2B

Role

formulator + on-site service/optimization provider

Revenue share

49.5%

Side-by-side metrics

BlackRock, Inc.
Ecolab Inc.
Ticker / Exchange
BLK - New York Stock Exchange
ECL - New York Stock Exchange
Market cap (USD)
$168.1B
n/a
Gross margin (TTM)
51.6%
44.3%
Operating margin (TTM)
32.6%
17.3%
Net margin (TTM)
26.6%
12.5%
Sector
Financials
Materials
HQ country
US
US
Primary segment
iShares ETFs & ETPs
Global Industrial
Market structure
Oligopoly
Oligopoly
Market share
28.3% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
59 / 100
63 / 100
Moat domains
Supply, Demand
Supply, Demand, Legal
Last update
2025-12-31
2026-01-01

Moat coverage

Shared moat types

Brand TrustLong Term ContractsData Workflow Lockin

BlackRock, Inc. strengths

Scale Economies Unit CostDistribution ControlOperational ExcellenceSwitching Costs GeneralSuite BundlingProcurement InertiaScope Economies

Ecolab Inc. strengths

Service Field NetworkCompliance AdvantageInstalled Base ConsumablesTraining Org Change Costs

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%

Ecolab Inc. segments

Full profile >

Global Industrial

Oligopoly

49.5%

Global Institutional & Specialty

Oligopoly

34.1%

Global Healthcare & Life Sciences

Oligopoly

9%

Global Pest Elimination

Oligopoly

7.4%

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.