VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Bureau Veritas S.A. vs Morningstar, Inc.

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

Bureau Veritas S.A.

BVI · Euronext Paris

Market cap (USD)$12.3B
Gross margin (TTM)22.7%
Operating margin (TTM)14%
Net margin (TTM)9.3%
SectorIndustrials
IndustryConsulting Services
CountryFR
Data as of2025-12-28
Moat score
66/ 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 Bureau Veritas S.A.'s moat claims, evidence, and risks.

View BVI analysis

Morningstar, Inc.

MORN · NASDAQ

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
Industry
CountryUS
Data as of2026-01-10
Moat score
67/ 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 Morningstar, Inc.'s moat claims, evidence, and risks.

View MORN analysis

Comparison highlights

  • Moat score gap: Morningstar, Inc. leads (67 / 100 vs 66 / 100 for Bureau Veritas S.A.).
  • Segment focus: Bureau Veritas S.A. has 6 segments (29.3% in Buildings & Infrastructure); Morningstar, Inc. has 7 segments (34.6% in Morningstar Data and Analytics).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Bureau Veritas S.A. has 6 moat types across 3 domains; Morningstar, Inc. has 6 across 3.

Primary market context

Bureau Veritas S.A.

Buildings & Infrastructure

Market

Construction, buildings and infrastructure inspection/testing and project assurance

Geography

Global

Customer

Developers, contractors, infrastructure operators, public authorities

Role

Third-party testing/inspection and compliance verification across project lifecycle

Revenue share

29.3%

Morningstar, Inc.

Morningstar Data and Analytics

Market

Investment data, research, and analytics platforms

Geography

Global

Revenue share

34.6%

Side-by-side metrics

Bureau Veritas S.A.
Morningstar, Inc.
Ticker / Exchange
BVI - Euronext Paris
MORN - NASDAQ
Market cap (USD)
$12.3B
n/a
Gross margin (TTM)
22.7%
n/a
Operating margin (TTM)
14%
n/a
Net margin (TTM)
9.3%
n/a
Sector
Industrials
Financials
Industry
Consulting Services
n/a
HQ country
FR
US
Primary segment
Buildings & Infrastructure
Morningstar Data and Analytics
Market structure
Competitive
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
66 / 100
67 / 100
Moat domains
Legal, Supply, Demand
Demand, Network, Legal
Last update
2025-12-28
2026-01-10

Moat coverage

Shared moat types

Regulated Standards Pipe

Bureau Veritas S.A. strengths

Service Field NetworkProcurement InertiaOperational ExcellenceSwitching Costs GeneralCapex Knowhow Scale

Morningstar, Inc. strengths

Data Workflow LockinDe Facto StandardSuite BundlingTraining Org Change CostsIP Choke Point

Segment mix

Bureau Veritas S.A. segments

Full profile >

Marine & Offshore

Oligopoly

8.1%

Agri-Food & Commodities

Competitive

20.3%

Industry

Competitive

21.1%

Buildings & Infrastructure

Competitive

29.3%

Certification

Competitive

8.4%

Consumer Products Services

Competitive

12.8%

Morningstar, Inc. segments

Full profile >

Morningstar Data and Analytics

Oligopoly

34.6%

PitchBook

Oligopoly

27.2%

Morningstar Credit

Oligopoly

12.8%

Morningstar Wealth

Competitive

10.9%

Morningstar Retirement

Competitive

5.6%

Morningstar Sustainalytics

Oligopoly

5.2%

Morningstar Indexes

Oligopoly

3.7%

Want the full wide moat stocks list?

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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.