VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

BlackRock, Inc. vs L3Harris Technologies, 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)$168.6B
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

L3Harris Technologies, Inc.

LHX · NYSE

Market cap (USD)$55.9B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorIndustrials
Industry
CountryUS
Data as of2026-01-02
Moat score
72/ 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 L3Harris Technologies, Inc.'s moat claims, evidence, and risks.

View LHX analysis

Comparison highlights

  • Moat score gap: L3Harris Technologies, Inc. leads (72 / 100 vs 59 / 100 for BlackRock, Inc.).
  • Segment focus: BlackRock, Inc. has 7 segments (33% in iShares ETFs & ETPs); L3Harris Technologies, Inc. has 4 segments (31.9% in Space & Airborne Systems).
  • Moat breadth: BlackRock, Inc. has 10 moat types across 2 domains; L3Harris Technologies, Inc. has 8 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%

L3Harris Technologies, Inc.

Space & Airborne Systems

Market

Defense & intelligence space and airborne mission systems (payloads, sensors, avionics, mission networks)

Geography

Global (U.S.-centric demand)

Customer

Government defense/intelligence agencies, prime contractors, and allied governments

Role

Prime contractor / subsystem integrator

Revenue share

31.9%

Side-by-side metrics

BlackRock, Inc.
L3Harris Technologies, Inc.
Ticker / Exchange
BLK - New York Stock Exchange
LHX - NYSE
Market cap (USD)
$168.6B
$55.9B
Gross margin (TTM)
51.6%
n/a
Operating margin (TTM)
32.6%
n/a
Net margin (TTM)
26.6%
n/a
Sector
Financials
Industrials
Industry
Asset Management
n/a
HQ country
US
US
Primary segment
iShares ETFs & ETPs
Space & Airborne Systems
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
72 / 100
Moat domains
Supply, Demand
Legal, Demand, Supply
Last update
2025-12-31
2026-01-02

Moat coverage

Shared moat types

Switching Costs GeneralProcurement Inertia

BlackRock, Inc. strengths

Scale Economies Unit CostBrand TrustDistribution ControlOperational ExcellenceSuite BundlingLong Term ContractsScope EconomiesData Workflow Lockin

L3Harris Technologies, Inc. strengths

Government Contracting RelationshipsDesign In QualificationCompliance AdvantageCapex Knowhow ScaleCapacity MoatKeystone Component

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%

L3Harris Technologies, Inc. segments

Full profile >

Space & Airborne Systems

Oligopoly

31.9%

Integrated Mission Systems

Oligopoly

31.8%

Communication Systems

Oligopoly

25.4%

Aerojet Rocketdyne

Duopoly

10.9%

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.