VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

CAR Group Limited vs Fortinet, Inc.

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

CAR Group Limited

CAR · ASX

Market cap (USD)$7.8B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorCommunication Services
Industry
CountryAU
Data as of
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 CAR Group Limited's moat claims, evidence, and risks.

View CAR analysis

Fortinet, Inc.

FTNT · NASDAQ

Market cap (USD)$59.6B
Gross margin (TTM)81.3%
Operating margin (TTM)31%
Net margin (TTM)28.6%
SectorTechnology
IndustrySoftware - Infrastructure
CountryUS
Data as of2025-12-26
Moat score
84/ 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 Fortinet, Inc.'s moat claims, evidence, and risks.

View FTNT analysis

Comparison highlights

  • Moat score gap: Fortinet, Inc. leads (84 / 100 vs 69 / 100 for CAR Group Limited).
  • Segment focus: CAR Group Limited has 5 segments (41% in Australia); Fortinet, Inc. has 2 segments (68% in Subscriptions & Support Services).
  • Primary market structure: Oligopoly vs Quasi-Monopoly. Pricing power: Strong vs Strong.
  • Moat breadth: CAR Group Limited has 6 moat types across 3 domains; Fortinet, Inc. has 7 across 3.

Primary market context

CAR Group Limited

Australia

Market

Online vehicle marketplace, dealer advertising & automotive data/services

Geography

Australia

Customer

Dealers, OEM advertisers, private sellers & buyers

Role

Two-sided marketplace + advertising + data/SaaS tools

Revenue share

41%

Fortinet, Inc.

Subscriptions & Support Services

Market

Cybersecurity subscriptions and technical support for Fortinet installed base (FortiGuard + FortiCare)

Geography

Global

Customer

Installed-base enterprises and channel partners

Role

Vendor (subscription/support services)

Revenue share

68%

Side-by-side metrics

CAR Group Limited
Fortinet, Inc.
Ticker / Exchange
CAR - ASX
FTNT - NASDAQ
Market cap (USD)
$7.8B
$59.6B
Gross margin (TTM)
n/a
81.3%
Operating margin (TTM)
n/a
31%
Net margin (TTM)
n/a
28.6%
Sector
Communication Services
Technology
Industry
n/a
Software - Infrastructure
HQ country
AU
US
Primary segment
Australia
Subscriptions & Support Services
Market structure
Oligopoly
Quasi-Monopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Strong
Moat score
69 / 100
84 / 100
Moat domains
Network, Demand, Supply
Demand, Supply, Financial
Last update
2026-01-02
2025-12-26

Moat coverage

Shared moat types

Switching Costs General

CAR Group Limited strengths

Two Sided NetworkBrand TrustEcosystem ComplementsOperational Excellenceminority-investment-optionality

Fortinet, Inc. strengths

Suite BundlingKeystone ComponentScope EconomiesBenchmark Pricing PowerInstalled Base ConsumablesLong Term Contracts

Segment mix

CAR Group Limited segments

Full profile >

Australia

Oligopoly

41%

North America

Oligopoly

26%

Latin America

Oligopoly

17.3%

Asia

Oligopoly

11.5%

Investments

Competitive

4.2%

Fortinet, Inc. segments

Full profile >

Secure Networking Products

Oligopoly

32%

Subscriptions & Support Services

Quasi-Monopoly

68%

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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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.