VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Constellation Software Inc. vs Merck & Co., Inc.

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

Merck & Co., Inc.

MRK · New York Stock Exchange

Market cap (USD)$266.4B
Gross margin (TTM)78.3%
Operating margin (TTM)36.4%
Net margin (TTM)29.6%
SectorHealthcare
IndustryDrug Manufacturers - General
CountryUS
Data as of2025-12-22
Moat score
71/ 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 Merck & Co., Inc.'s moat claims, evidence, and risks.

View MRK analysis

Comparison highlights

  • Moat score gap: Constellation Software Inc. leads (74 / 100 vs 71 / 100 for Merck & Co., Inc.).
  • Segment focus: Constellation Software Inc. has 6 segments; Merck & Co., Inc. has 2 segments (89.5% in Pharmaceutical).
  • Moat breadth: Constellation Software Inc. has 3 moat types across 2 domains; Merck & Co., Inc. has 5 across 3.

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)

Merck & Co., Inc.

Pharmaceutical

Market

Branded prescription pharmaceuticals & human vaccines

Geography

Global

Customer

Wholesalers/retailers, managed care and government payers, hospitals/clinics

Role

R&D-intensive innovator, manufacturer, and marketer

Revenue share

89.5%

Side-by-side metrics

Constellation Software Inc.
Merck & Co., Inc.
Ticker / Exchange
CSU - Toronto Stock Exchange
MRK - New York Stock Exchange
Market cap (USD)
n/a
$266.4B
Gross margin (TTM)
n/a
78.3%
Operating margin (TTM)
n/a
36.4%
Net margin (TTM)
n/a
29.6%
Sector
Technology
Healthcare
Industry
n/a
Drug Manufacturers - General
HQ country
CA
US
Primary segment
Volaris Operating Group
Pharmaceutical
Market structure
Competitive
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
74 / 100
71 / 100
Moat domains
Demand, Supply
Legal, Supply, Demand
Last update
2026-01-02
2025-12-22

Moat coverage

Shared moat types

No overlap yet.

Constellation Software Inc. strengths

Switching Costs GeneralInstalled Base ConsumablesOperational Excellence

Merck & Co., Inc. strengths

IP Choke PointRegulated Standards PipeCapex Knowhow ScaleScope EconomiesData Workflow Lockin

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

Merck & Co., Inc. segments

Full profile >

Pharmaceutical

Competitive

89.5%

Animal Health

Oligopoly

9.2%

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.