VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Bentley Systems, Incorporated vs Zoetis 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

Zoetis Inc.

ZTS · New York Stock Exchange

Market cap (USD)$56B
Gross margin (TTM)70.6%
Operating margin (TTM)37.6%
Net margin (TTM)28.2%
SectorHealthcare
IndustryDrug Manufacturers - Specialty & Generic
CountryUS
Data as of2025-12-26
Moat score
73/ 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 Zoetis Inc.'s moat claims, evidence, and risks.

View ZTS analysis

Comparison highlights

  • Moat score gap: Zoetis Inc. leads (73 / 100 vs 64 / 100 for Bentley Systems, Incorporated).
  • Segment focus: Bentley Systems, Incorporated has 4 segments; Zoetis Inc. has 3 segments (67.8% in Companion Animal Products).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Bentley Systems, Incorporated has 7 moat types across 2 domains; Zoetis Inc. has 9 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

Zoetis Inc.

Companion Animal Products

Market

Companion animal veterinary medicines, vaccines and diagnostics

Geography

Global

Customer

Veterinarians, veterinary clinics, pet owners (via prescription/retail)

Role

Manufacturer and marketer

Revenue share

67.8%

Side-by-side metrics

Bentley Systems, Incorporated
Zoetis Inc.
Ticker / Exchange
BSY - NASDAQ
ZTS - New York Stock Exchange
Market cap (USD)
$12.5B
$56B
Gross margin (TTM)
n/a
70.6%
Operating margin (TTM)
n/a
37.6%
Net margin (TTM)
n/a
28.2%
Sector
Technology
Healthcare
Industry
n/a
Drug Manufacturers - Specialty & Generic
HQ country
US
US
Primary segment
Engineering Applications (Bentley Open)
Companion Animal Products
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
64 / 100
73 / 100
Moat domains
Demand, Network
Demand, Supply, Legal
Last update
2026-01-10
2025-12-26

Moat coverage

Shared moat types

No overlap yet.

Bentley Systems, Incorporated strengths

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

Zoetis Inc. strengths

Brand TrustService Field NetworkRegulated Standards PipeIP Choke PointInstalled Base ConsumablesCapacity MoatDistribution ControlCompliance AdvantageOperational Excellence

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

Zoetis Inc. segments

Full profile >

Companion Animal Products

Oligopoly

67.8%

Livestock Products

Oligopoly

31.3%

Client Supply Services & Human Health

Competitive

0.9%

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.