VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Bentley Systems, Incorporated vs Symrise AG

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

Symrise AG

SY1 · Xetra

Market cap (USD)$9.8B
Gross margin (TTM)40.3%
Operating margin (TTM)0.7%
Net margin (TTM)10.2%
SectorMaterials
IndustryChemicals - Specialty
CountryDE
Data as of2025-12-29
Moat score
69/ 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 Symrise AG's moat claims, evidence, and risks.

View SY1 analysis

Comparison highlights

  • Moat score gap: Symrise AG leads (69 / 100 vs 64 / 100 for Bentley Systems, Incorporated).
  • Segment focus: Bentley Systems, Incorporated has 4 segments; Symrise AG has 2 segments (61.8% in Taste, Nutrition & Health).
  • Moat breadth: Bentley Systems, Incorporated has 7 moat types across 2 domains; Symrise AG has 5 across 3.

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

Symrise AG

Taste, Nutrition & Health

Market

Food & beverage flavor ingredients and pet food ingredients

Geography

Global

Customer

B2B (food & beverage, pet food, aquafeed manufacturers)

Role

Ingredient/formulation supplier

Revenue share

61.8%

Side-by-side metrics

Bentley Systems, Incorporated
Symrise AG
Ticker / Exchange
BSY - NASDAQ
SY1 - Xetra
Market cap (USD)
$12.5B
$9.8B
Gross margin (TTM)
n/a
40.3%
Operating margin (TTM)
n/a
0.7%
Net margin (TTM)
n/a
10.2%
Sector
Technology
Materials
Industry
n/a
Chemicals - Specialty
HQ country
US
DE
Primary segment
Engineering Applications (Bentley Open)
Taste, Nutrition & Health
Market structure
Oligopoly
Oligopoly
Market share
n/a
12%-16% (implied)
HHI estimate
n/a
958
Pricing power
Moderate
Moderate
Moat score
64 / 100
69 / 100
Moat domains
Demand, Network
Demand, Supply, Legal
Last update
2026-01-10
2025-12-29

Moat coverage

Shared moat types

No overlap yet.

Bentley Systems, Incorporated strengths

Training Org Change CostsSuite BundlingInteroperability HubData Workflow LockinProcurement InertiaDe Facto StandardEcosystem Complements

Symrise AG strengths

Design In QualificationPreferential Input AccessScope EconomiesIP Choke PointCapex Knowhow Scale

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

Symrise AG segments

Full profile >

Taste, Nutrition & Health

Oligopoly

61.8%

Scent & Care

Oligopoly

38.2%

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.