VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Friday, January 2, 2026

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Stock Comparison

Constellation Software Inc. vs HENSOLDT AG

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

Constellation Software Inc.

CSU · Toronto Stock Exchange

Market cap (USD)—

Gross margin (TTM)—

Operating margin (TTM)—

Net margin (TTM)—

SectorTechnology

Industry—

CountryCA

Data as of2026-01-02

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 Constellation Software Inc.'s moat claims, evidence, and risks.

View CSU analysis

HENSOLDT AG

HAG · Xetra

Market cap (USD)$8.8B

Gross margin (TTM)21.5%

Operating margin (TTM)8.9%

Net margin (TTM)5.2%

SectorIndustrials

IndustryAerospace & Defense

CountryDE

Data as of2025-12-28

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 HENSOLDT AG's moat claims, evidence, and risks.

View HAG analysis

Comparison highlights

Moat score gap: HENSOLDT AG leads (77 / 100 vs 74 / 100 for Constellation Software Inc.).
Segment focus: Constellation Software Inc. has 6 segments; HENSOLDT AG has 2 segments (84.6% in Sensors).
Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Moderate.
Moat breadth: Constellation Software Inc. has 3 moat types across 2 domains; HENSOLDT AG has 3 across 2.

Primary market context

Constellation Software Inc.

Volaris Operating Group

Market

Vertical market software (VMS) portfolios across diverse industries (Volaris)

Geography

Global (North America, Continental Europe, UK, Australia, South America, Africa)

Customer

Organizations in specific verticals (mix of public and private sector)

Role

Vertical market software vendor (application provider + long-term maintainer)

HENSOLDT AG

Sensors

Market

Defence and security sensor solutions (radar, electronic warfare, avionics, mission systems integration)

Geography

Global (Europe-centric)

Customer

Government defence ministries/armed forces and defence prime contractors

Role

Defence electronics supplier / system integrator

Revenue share

84.6%

Side-by-side metrics

Constellation Software Inc.

HENSOLDT AG

Ticker / Exchange

CSU - Toronto Stock Exchange

HAG - Xetra

Market cap (USD)

n/a

$8.8B

Gross margin (TTM)

n/a

21.5%

Operating margin (TTM)

n/a

8.9%

Net margin (TTM)

n/a

5.2%

Sector

Technology

Industrials

Industry

n/a

Aerospace & Defense

HQ country

Primary segment

Volaris Operating Group

Sensors

Market structure

Competitive

Oligopoly

Market share

n/a

HHI estimate

n/a

Pricing power

Moderate

Moat score

74 / 100

77 / 100

Moat domains

Demand, Supply

Last update

2026-01-02

2025-12-28

Moat coverage

Shared moat types

No overlap yet.

Constellation Software Inc. strengths

Switching Costs GeneralInstalled Base ConsumablesOperational Excellence

HENSOLDT AG strengths

Design In QualificationLong Term ContractsCapex Knowhow Scale

Segment mix

Constellation Software Inc. segments

Full profile >

Volaris Operating Group

Competitive

n/a

Harris Operating Group

Competitive

n/a

Topicus.com Operating Group

Competitive

n/a

Jonas Operating Group

Competitive

n/a

Perseus Operating Group

Competitive

n/a

Vela Operating Group

Competitive

n/a

HENSOLDT AG segments

Full profile >

Sensors

Oligopoly

84.6%

Optronics

Oligopoly

15.4%

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.