VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 14, 2026

Wide Moat StocksExpansion-Stage Stocks Home My Collections

Stock Comparison

Blackstone Inc. vs Morningstar, Inc.

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

Blackstone Inc.

BX · New York Stock Exchange

Market cap (USD)—
Gross margin (TTM)—
Operating margin (TTM)—
Net margin (TTM)—
SectorFinancials
Industry—
CountryUS
Data as of2026-01-12
Moat score
61/ 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 Blackstone Inc.'s moat claims, evidence, and risks.

View BX 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 61 / 100 for Blackstone Inc.).
  • Segment focus: Blackstone Inc. has 4 segments; Morningstar, Inc. has 7 segments (34.6% in Morningstar Data and Analytics).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: n/a vs Moderate.
  • Moat breadth: Blackstone Inc. has 8 moat types across 2 domains; Morningstar, Inc. has 6 across 3.

Primary market context

Blackstone Inc.

Real Estate

Market

Private real estate investment management (opportunistic, core/core+, real estate debt, and perpetual/private-wealth real estate vehicles)

Geography

Global

Customer

Institutional investors and individual investors (via private wealth channels)

Role

Alternative asset manager / GP / investment adviser

Morningstar, Inc.

Morningstar Data and Analytics

Market

Investment data, research, and analytics platforms

Geography

Global

Revenue share

34.6%

Side-by-side metrics

Blackstone Inc.
Morningstar, Inc.
Ticker / Exchange
BX - New York Stock Exchange
MORN - NASDAQ
Market cap (USD)
n/a
n/a
Gross margin (TTM)
n/a
n/a
Operating margin (TTM)
n/a
n/a
Net margin (TTM)
n/a
n/a
Sector
Financials
Financials
Industry
n/a
n/a
HQ country
US
US
Primary segment
Real Estate
Morningstar Data and Analytics
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
n/a
Moderate
Moat score
61 / 100
67 / 100
Moat domains
Supply, Demand
Demand, Network, Legal
Last update
2026-01-12
2026-01-10

Moat coverage

Shared moat types

Suite Bundling

Blackstone Inc. strengths

Scale Economies Unit CostLong Term ContractsBrand TrustDistribution ControlScope EconomiesOperational ExcellencePreferential Input Access

Morningstar, Inc. strengths

Data Workflow LockinDe Facto StandardRegulated Standards PipeTraining Org Change CostsIP Choke Point

Segment mix

Blackstone Inc. segments

Full profile >

Real Estate

Oligopoly

n/a

Private Equity

Oligopoly

n/a

Credit & Insurance

Oligopoly

n/a

Multi-Asset Investing

Oligopoly

n/a

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?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

View the moat stocks list

Looking for expansion-stage stocks?

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

View expansion-stage stocks

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.