VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Thursday, January 8, 2026

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Stock Comparison

BlackRock, Inc. vs KKR & Co. 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)$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

KKR & Co. Inc.

KKR · New York Stock Exchange

Market cap (USD)$119.9B
Gross margin (TTM)19.5%
Operating margin (TTM)2.6%
Net margin (TTM)14.1%
SectorFinancials
IndustryAsset Management
CountryUS
Data as of2026-01-06
Moat score
67/ 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 KKR & Co. Inc.'s moat claims, evidence, and risks.

View KKR analysis

Comparison highlights

  • Moat score gap: KKR & Co. Inc. leads (67 / 100 vs 59 / 100 for BlackRock, Inc.).
  • Segment focus: BlackRock, Inc. has 7 segments (33% in iShares ETFs & ETPs); KKR & Co. Inc. has 3 segments (52.3% in Asset Management).
  • Moat breadth: BlackRock, Inc. has 10 moat types across 2 domains; KKR & Co. Inc. has 7 across 4.

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%

KKR & Co. Inc.

Asset Management

Market

Alternative asset management (private equity, private credit, real assets, and related strategies)

Geography

Global

Customer

Institutional and wealth investors (LPs) allocating to private markets

Role

General partner / investment manager

Revenue share

52.3%

Side-by-side metrics

BlackRock, Inc.
KKR & Co. Inc.
Ticker / Exchange
BLK - New York Stock Exchange
KKR - New York Stock Exchange
Market cap (USD)
$173.5B
$119.9B
Gross margin (TTM)
51.6%
19.5%
Operating margin (TTM)
32.6%
2.6%
Net margin (TTM)
26.6%
14.1%
Sector
Financials
Financials
Industry
Asset Management
Asset Management
HQ country
US
US
Primary segment
iShares ETFs & ETPs
Asset Management
Market structure
Oligopoly
Oligopoly
Market share
28.3% (reported)
3.5%-5% (implied)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
59 / 100
67 / 100
Moat domains
Supply, Demand
Demand, Supply, Financial, Legal
Last update
2025-12-31
2026-01-06

Moat coverage

Shared moat types

Scale Economies Unit CostBrand TrustLong Term Contracts

BlackRock, Inc. strengths

Distribution ControlOperational ExcellenceSwitching Costs GeneralSuite BundlingProcurement InertiaScope EconomiesData Workflow Lockin

KKR & Co. Inc. strengths

Deal sourcing and origination relationshipsFloat PrepaymentCompliance AdvantageCapital markets and exit execution capability

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%

KKR & Co. Inc. segments

Full profile >

Asset Management

Oligopoly

52.3%

Insurance

Competitive

46.5%

Strategic Holdings

Competitive

1.2%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

View the moat stocks list

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.