VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

CSL Limited vs Sanofi

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

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

Sanofi

SAN · Euronext Paris

Market cap (USD)$96.4B
Gross margin (TTM)71.7%
Operating margin (TTM)25.4%
Net margin (TTM)18.2%
SectorHealthcare
IndustryDrug Manufacturers - General
CountryFR
Data as of2025-12-30
Moat score
74/ 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 Sanofi's moat claims, evidence, and risks.

View SAN analysis

Comparison highlights

  • Moat score gap: CSL Limited leads (77 / 100 vs 74 / 100 for Sanofi).
  • Segment focus: CSL Limited has 3 segments (71.7% in CSL Behring); Sanofi has 3 segments (79.8% in Pharma (Prescription Medicines)).
  • Moat breadth: CSL Limited has 7 moat types across 3 domains; Sanofi has 5 across 3.

Primary market context

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%

Sanofi

Pharma (Prescription Medicines)

Market

Branded prescription pharmaceuticals (immunology, rare disease, neurology, oncology, general medicines)

Geography

Global

Customer

Patients via payers/providers and channel partners (wholesalers, pharmacies, hospitals)

Role

Research-based drug developer, manufacturer, and marketer

Revenue share

79.8%

Side-by-side metrics

CSL Limited
Sanofi
Ticker / Exchange
CSL - ASX
SAN - Euronext Paris
Market cap (USD)
$74.4B
$96.4B
Gross margin (TTM)
48.9%
71.7%
Operating margin (TTM)
23.3%
25.4%
Net margin (TTM)
14.9%
18.2%
Sector
Healthcare
Healthcare
Industry
Biotechnology
Drug Manufacturers - General
HQ country
AU
FR
Primary segment
CSL Behring
Pharma (Prescription Medicines)
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
77 / 100
74 / 100
Moat domains
Supply, Legal, Demand
Legal, Supply, Demand
Last update
2026-01-02
2025-12-30

Moat coverage

Shared moat types

Regulated Standards Pipe

CSL Limited strengths

Supply Chain ControlPhysical Network DensityOperational ExcellenceGovernment Contracting RelationshipsCapacity MoatProcurement Inertia

Sanofi strengths

IP Choke PointLearning Curve YieldBrand TrustDistribution Control

Segment mix

CSL Limited segments

Full profile >

CSL Behring

Oligopoly

71.7%

CSL Seqirus

Oligopoly

13.9%

CSL Vifor

Oligopoly

14.4%

Sanofi segments

Full profile >

Pharma (Prescription Medicines)

Oligopoly

79.8%

Vaccines

Oligopoly

20.2%

Opella (Consumer Healthcare - Sanofi minority stake)

Competitive

n/a

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.