VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Caterpillar Inc. vs L3Harris Technologies, Inc.

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)$277.7B
Gross margin (TTM)33.9%
Operating margin (TTM)17.7%
Net margin (TTM)14.3%
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

L3Harris Technologies, Inc.

LHX · NYSE

Market cap (USD)$55.9B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorIndustrials
Industry
CountryUS
Data as of2026-01-02
Moat score
72/ 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 L3Harris Technologies, Inc.'s moat claims, evidence, and risks.

View LHX analysis

Comparison highlights

  • Moat score gap: L3Harris Technologies, Inc. leads (72 / 100 vs 68 / 100 for Caterpillar Inc.).
  • Segment focus: Caterpillar Inc. has 5 segments (40.7% in Energy & Transportation); L3Harris Technologies, Inc. has 4 segments (31.9% in Space & Airborne Systems).
  • Moat breadth: Caterpillar Inc. has 9 moat types across 4 domains; L3Harris Technologies, Inc. has 8 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%

L3Harris Technologies, Inc.

Space & Airborne Systems

Market

Defense & intelligence space and airborne mission systems (payloads, sensors, avionics, mission networks)

Geography

Global (U.S.-centric demand)

Customer

Government defense/intelligence agencies, prime contractors, and allied governments

Role

Prime contractor / subsystem integrator

Revenue share

31.9%

Side-by-side metrics

Caterpillar Inc.
L3Harris Technologies, Inc.
Ticker / Exchange
CAT - New York Stock Exchange
LHX - NYSE
Market cap (USD)
$277.7B
$55.9B
Gross margin (TTM)
33.9%
n/a
Operating margin (TTM)
17.7%
n/a
Net margin (TTM)
14.3%
n/a
Sector
Industrials
Industrials
Industry
Agricultural - Machinery
n/a
HQ country
US
US
Primary segment
Energy & Transportation
Space & Airborne Systems
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
68 / 100
72 / 100
Moat domains
Supply, Demand, Financial, Network
Legal, Demand, Supply
Last update
2025-12-25
2026-01-02

Moat coverage

Shared moat types

Capex Knowhow ScaleDesign In Qualification

Caterpillar Inc. strengths

Distribution ControlInstalled Base ConsumablesBrand TrustService Field NetworkSuite BundlingUnderwriting Risk PoolingEcosystem Complements

L3Harris Technologies, Inc. strengths

Government Contracting RelationshipsCompliance AdvantageSwitching Costs GeneralProcurement InertiaCapacity MoatKeystone Component

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%

L3Harris Technologies, Inc. segments

Full profile >

Space & Airborne Systems

Oligopoly

31.9%

Integrated Mission Systems

Oligopoly

31.8%

Communication Systems

Oligopoly

25.4%

Aerojet Rocketdyne

Duopoly

10.9%

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

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.