VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

CSL Limited vs Thermo Fisher Scientific Inc.

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

Thermo Fisher Scientific Inc.

TMO · New York Stock Exchange

Market cap (USD)$192B
Gross margin (TTM)39.5%
Operating margin (TTM)18%
Net margin (TTM)15.1%
SectorHealthcare
IndustryMedical - Diagnostics & Research
CountryUS
Data as of2025-12-22
Moat score
64/ 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 Thermo Fisher Scientific Inc.'s moat claims, evidence, and risks.

View TMO analysis

Comparison highlights

  • Moat score gap: CSL Limited leads (77 / 100 vs 64 / 100 for Thermo Fisher Scientific Inc.).
  • Segment focus: CSL Limited has 3 segments (71.7% in CSL Behring); Thermo Fisher Scientific Inc. has 4 segments (53.6% in Laboratory Products and Biopharma Services).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: CSL Limited has 7 moat types across 3 domains; Thermo Fisher Scientific Inc. has 8 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%

Thermo Fisher Scientific Inc.

Laboratory Products and Biopharma Services

Market

Laboratory supplies distribution/market channel plus outsourced biopharma services (CDMO/CRO)

Geography

Global

Customer

Pharma & biotech; academic/government labs; industrial and clinical laboratories

Role

Distributor/market channel and outsourced services provider

Revenue share

53.6%

Side-by-side metrics

CSL Limited
Thermo Fisher Scientific Inc.
Ticker / Exchange
CSL - ASX
TMO - New York Stock Exchange
Market cap (USD)
$74.4B
$192B
Gross margin (TTM)
48.9%
39.5%
Operating margin (TTM)
23.3%
18%
Net margin (TTM)
14.9%
15.1%
Sector
Healthcare
Healthcare
Industry
Biotechnology
Medical - Diagnostics & Research
HQ country
AU
US
Primary segment
CSL Behring
Laboratory Products and Biopharma Services
Market structure
Oligopoly
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
77 / 100
64 / 100
Moat domains
Supply, Legal, Demand
Demand, Supply, Legal
Last update
2026-01-02
2025-12-22

Moat coverage

Shared moat types

Regulated Standards PipeCapacity MoatProcurement Inertia

CSL Limited strengths

Supply Chain ControlPhysical Network DensityOperational ExcellenceGovernment Contracting Relationships

Thermo Fisher Scientific Inc. strengths

Installed Base ConsumablesFormat Lock InBrand TrustService Field NetworkDistribution Control

Segment mix

CSL Limited segments

Full profile >

CSL Behring

Oligopoly

71.7%

CSL Seqirus

Oligopoly

13.9%

CSL Vifor

Oligopoly

14.4%

Thermo Fisher Scientific Inc. segments

Full profile >

Life Sciences Solutions

Oligopoly

19%

Analytical Instruments

Oligopoly

17%

Specialty Diagnostics

Oligopoly

10.4%

Laboratory Products and Biopharma Services

Competitive

53.6%

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.