VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Costco Wholesale Corporation vs Marsh & McLennan Companies, Inc.

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

Costco Wholesale Corporation

COST · Nasdaq Global Select Market

Market cap (USD)$379.8B
SectorConsumer
CountryUS
Data as of2025-12-21
Moat score
80/ 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 Costco Wholesale Corporation's moat claims, evidence, and risks.

View COST analysis

Marsh & McLennan Companies, Inc.

MMC · New York Stock Exchange

Market cap (USD)
SectorFinancials
CountryUS
Data as of2025-12-31
Moat score
65/ 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 Marsh & McLennan Companies, Inc.'s moat claims, evidence, and risks.

View MMC analysis

Comparison highlights

  • Moat score gap: Costco Wholesale Corporation leads (80 / 100 vs 65 / 100 for Marsh & McLennan Companies, Inc.).
  • Segment focus: Costco Wholesale Corporation has 2 segments (98.1% in Warehouse club retail); Marsh & McLennan Companies, Inc. has 2 segments (62.8% in Risk and Insurance Services).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Weak vs Moderate.
  • Moat breadth: Costco Wholesale Corporation has 6 moat types across 3 domains; Marsh & McLennan Companies, Inc. has 5 across 3.

Primary market context

Costco Wholesale Corporation

Warehouse club retail

Market

Membership warehouse club retail (warehouse clubs, ancillary services, and e-commerce)

Geography

Global

Customer

Households and small businesses

Role

Retailer (membership club)

Revenue share

98.1%

Marsh & McLennan Companies, Inc.

Risk and Insurance Services

Market

Insurance brokerage, risk advisory, and reinsurance brokerage/services

Geography

Global

Customer

Enterprises, public entities, associations, and individuals (via broker/agent channels)

Role

Intermediary + advisor (insurance/reinsurance market intermediary)

Revenue share

62.8%

Side-by-side metrics

Costco Wholesale Corporation
Marsh & McLennan Companies, Inc.
Ticker / Exchange
COST - Nasdaq Global Select Market
MMC - New York Stock Exchange
Market cap (USD)
$379.8B
n/a
Sector
Consumer
Financials
HQ country
US
US
Primary segment
Warehouse club retail
Risk and Insurance Services
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Weak
Moderate
Moat score
80 / 100
65 / 100
Moat domains
Supply, Financial, Demand
Supply, Demand, Legal
Last update
2025-12-21
2025-12-31

Moat coverage

Shared moat types

Brand Trust

Costco Wholesale Corporation strengths

Scale Economies Unit CostOperational ExcellenceNegative Working CapitalHabit DefaultFloat Prepayment

Marsh & McLennan Companies, Inc. strengths

Service Field NetworkSwitching Costs GeneralCompliance AdvantageData Workflow Lockin

Segment mix

Costco Wholesale Corporation segments

Full profile >

Warehouse club retail

Oligopoly

98.1%

Membership fees (subscription)

Oligopoly

1.9%

Marsh & McLennan Companies, Inc. segments

Full profile >

Risk and Insurance Services

Oligopoly

62.8%

Consulting

Competitive

37.2%

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.