VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Bentley Systems, Incorporated vs Honeywell International Inc.

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

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

Honeywell International Inc.

HON · The Nasdaq Stock Market LLC

Market cap (USD)$131.7B
Gross margin (TTM)37.1%
Operating margin (TTM)19.3%
Net margin (TTM)15.1%
SectorIndustrials
IndustryConglomerates
CountryUS
Data as of2026-01-02
Moat score
58/ 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 Honeywell International Inc.'s moat claims, evidence, and risks.

View HON analysis

Comparison highlights

  • Moat score gap: Bentley Systems, Incorporated leads (64 / 100 vs 58 / 100 for Honeywell International Inc.).
  • Segment focus: Bentley Systems, Incorporated has 4 segments; Honeywell International Inc. has 4 segments (40.2% in Aerospace Technologies).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Bentley Systems, Incorporated has 7 moat types across 2 domains; Honeywell International Inc. has 9 across 2.

Primary market context

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

Honeywell International Inc.

Aerospace Technologies

Market

Aerospace systems, avionics, propulsion & aftermarket MRO services

Geography

Global

Customer

Aircraft OEMs, airlines/operators, defense & space contractors

Role

Tier-1 supplier + aftermarket service provider

Revenue share

40.2%

Side-by-side metrics

Bentley Systems, Incorporated
Honeywell International Inc.
Ticker / Exchange
BSY - NASDAQ
HON - The Nasdaq Stock Market LLC
Market cap (USD)
$12.5B
$131.7B
Gross margin (TTM)
n/a
37.1%
Operating margin (TTM)
n/a
19.3%
Net margin (TTM)
n/a
15.1%
Sector
Technology
Industrials
Industry
n/a
Conglomerates
HQ country
US
US
Primary segment
Engineering Applications (Bentley Open)
Aerospace Technologies
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
64 / 100
58 / 100
Moat domains
Demand, Network
Demand, Legal
Last update
2026-01-10
2026-01-02

Moat coverage

Shared moat types

Suite BundlingData Workflow Lockin

Bentley Systems, Incorporated strengths

Training Org Change CostsInteroperability HubProcurement InertiaDe Facto StandardEcosystem Complements

Honeywell International Inc. strengths

Installed Base ConsumablesRegulated Standards PipeBrand TrustSwitching Costs GeneralIP Choke PointDesign In QualificationLong Term Contracts

Segment mix

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

Honeywell International Inc. segments

Full profile >

Aerospace Technologies

Oligopoly

40.2%

Industrial Automation

Competitive

26.1%

Building Automation

Oligopoly

17%

Energy and Sustainability Solutions

Oligopoly

16.7%

Want the full wide moat stocks list?

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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.