VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Caterpillar Inc. vs CSL Limited

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

Caterpillar Inc.

CAT · New York Stock Exchange

Market cap (USD)$355.5B
Gross margin (TTM)32.3%
Operating margin (TTM)16.6%
Net margin (TTM)13.1%
SectorIndustrials
IndustryAgricultural - Machinery
CountryUS
Data as of2025-12-25
Moat score
68/ 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 Caterpillar Inc.'s moat claims, evidence, and risks.

View CAT analysis

CSL Limited

CSL · ASX

Market cap (USD)$74.4B
Gross margin (TTM)48.9%
Operating margin (TTM)23.3%
Net margin (TTM)14.9%
SectorHealthcare
IndustryBiotechnology
CountryAU
Data as of2026-01-02
Moat score
77/ 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 CSL Limited's moat claims, evidence, and risks.

View CSL analysis

Comparison highlights

  • Moat score gap: CSL Limited leads (77 / 100 vs 68 / 100 for Caterpillar Inc.).
  • Segment focus: Caterpillar Inc. has 5 segments (40.7% in Energy & Transportation); CSL Limited has 3 segments (71.7% in CSL Behring).
  • Moat breadth: Caterpillar Inc. has 9 moat types across 4 domains; CSL Limited has 7 across 3.

Primary market context

Caterpillar Inc.

Energy & Transportation

Market

Off-highway engines, power generation, turbines, locomotives and related services

Geography

Global

Customer

Energy companies, industrial customers, OEMs, rail and marine operators

Role

OEM + aftermarket parts/service

Revenue share

40.7%

CSL Limited

CSL Behring

Market

Plasma-derived therapies (immunoglobulins, albumin, coagulation factors) plus recombinant and gene therapies for rare and serious diseases

Geography

Global

Customer

Hospitals, specialty pharmacies, physicians; payers and national health systems

Role

Vertically integrated biopharma (plasma collection -> fractionation/manufacturing -> commercial distribution)

Revenue share

71.7%

Side-by-side metrics

Caterpillar Inc.
CSL Limited
Ticker / Exchange
CAT - New York Stock Exchange
CSL - ASX
Market cap (USD)
$355.5B
$74.4B
Gross margin (TTM)
32.3%
48.9%
Operating margin (TTM)
16.6%
23.3%
Net margin (TTM)
13.1%
14.9%
Sector
Industrials
Healthcare
Industry
Agricultural - Machinery
Biotechnology
HQ country
US
AU
Primary segment
Energy & Transportation
CSL Behring
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
68 / 100
77 / 100
Moat domains
Supply, Demand, Financial, Network
Supply, Legal, Demand
Last update
2025-12-25
2026-01-02

Moat coverage

Shared moat types

No overlap yet.

Caterpillar Inc. strengths

Distribution ControlInstalled Base ConsumablesBrand TrustService Field NetworkCapex Knowhow ScaleDesign In QualificationSuite BundlingUnderwriting Risk PoolingEcosystem Complements

CSL Limited strengths

Supply Chain ControlPhysical Network DensityOperational ExcellenceGovernment Contracting RelationshipsRegulated Standards PipeCapacity MoatProcurement Inertia

Segment mix

Caterpillar Inc. segments

Full profile >

Construction Industries

Oligopoly

35.9%

Resource Industries

Oligopoly

17.5%

Energy & Transportation

Oligopoly

40.7%

Financial Products

Competitive

5.3%

All Other

Competitive

0.6%

CSL Limited segments

Full profile >

CSL Behring

Oligopoly

71.7%

CSL Seqirus

Oligopoly

13.9%

CSL Vifor

Oligopoly

14.4%

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.