VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Sunday, January 11, 2026

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Stock Comparison

Boston Scientific Corporation vs Bentley Systems, Incorporated

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

Boston Scientific Corporation

BSX · New York Stock Exchange

Market cap (USD)$144.7B

Gross margin (TTM)65.1%

Operating margin (TTM)17.3%

Net margin (TTM)14.4%

SectorHealthcare

IndustryMedical - Devices

CountryUS

Data as of2026-01-04

Moat score

65/ 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 Boston Scientific Corporation's moat claims, evidence, and risks.

View BSX analysis

Bentley Systems, Incorporated

BSY · NASDAQ

Market cap (USD)$12.5B

Gross margin (TTM)—

Operating margin (TTM)—

Net margin (TTM)—

SectorTechnology

Industry—

CountryUS

Data as of2026-01-10

Moat score

64/ 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 Bentley Systems, Incorporated's moat claims, evidence, and risks.

View BSY analysis

Comparison highlights

Moat score gap: Boston Scientific Corporation leads (65 / 100 vs 64 / 100 for Bentley Systems, Incorporated).
Segment focus: Boston Scientific Corporation has 5 segments (49.8% in Cardiology); Bentley Systems, Incorporated has 4 segments.
Moat breadth: Boston Scientific Corporation has 6 moat types across 3 domains; Bentley Systems, Incorporated has 7 across 2.

Primary market context

Boston Scientific Corporation

Cardiology

Market

Cardiology devices (interventional cardiology, structural heart, electrophysiology, cardiac rhythm management and remote monitoring)

Geography

Global

Customer

Hospitals/cath labs/EP labs and specialty clinics (cardiologists, electrophysiologists)

Role

Medical device OEM / implantables + procedure devices + service-enabled monitoring

Revenue share

49.8%

Bentley Systems, Incorporated

Engineering Applications (Bentley Open)

Market

Infrastructure engineering design and simulation software (CAD/BIM for civil, rail, water, plants, and facilities)

Geography

Global

Customer

Engineering and construction firms; public and private infrastructure owner-operators

Role

Engineering authoring + analysis software vendor

Side-by-side metrics

Boston Scientific Corporation

Bentley Systems, Incorporated

Ticker / Exchange

BSX - New York Stock Exchange

BSY - NASDAQ

Market cap (USD)

$144.7B

$12.5B

Gross margin (TTM)

65.1%

n/a

Operating margin (TTM)

17.3%

n/a

Net margin (TTM)

14.4%

n/a

Sector

Healthcare

Technology

Industry

Medical - Devices

n/a

HQ country

Primary segment

Cardiology

Engineering Applications (Bentley Open)

Market structure

Oligopoly

Market share

n/a

HHI estimate

n/a

Pricing power

Moderate

Moat score

65 / 100

64 / 100

Moat domains

Demand, Legal, Supply

Demand, Network

Last update

2026-01-04

2026-01-10

Moat coverage

Shared moat types

Procurement InertiaTraining Org Change Costs

Boston Scientific Corporation strengths

Installed Base ConsumablesRegulated Standards PipeReputation ReviewsDistribution Control

Bentley Systems, Incorporated strengths

Suite BundlingInteroperability HubData Workflow LockinDe Facto StandardEcosystem Complements

Segment mix

Boston Scientific Corporation segments

Full profile >

Endoscopy

Oligopoly

16%

Urology

Competitive

13.1%

Neuromodulation

Oligopoly

6.6%

Cardiology

Oligopoly

49.8%

Peripheral Interventions

Competitive

14.4%

Bentley Systems, Incorporated segments

Full profile >

Engineering Applications (Bentley Open)

Oligopoly

n/a

Geoprofessional Applications (Seequent)

Oligopoly

n/a

Bentley Infrastructure Cloud (ProjectWise, SYNCHRO, AssetWise)

Oligopoly

n/a

Digital Twin Platform & Asset Analytics (Cesium, iTwin, Asset Analytics)

Competitive

n/a

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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Looking for expansion-stage stocks?

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

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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.