VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Danaher Corporation vs Morningstar, Inc.

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

Danaher Corporation

DHR · New York Stock Exchange

Market cap (USD)$170.8B
Gross margin (TTM)61.4%
Operating margin (TTM)22.2%
Net margin (TTM)14.4%
SectorHealthcare
IndustryMedical - Diagnostics & Research
CountryUS
Data as of2025-12-22
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 Danaher Corporation's moat claims, evidence, and risks.

View DHR analysis

Morningstar, Inc.

MORN · NASDAQ

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
Industry
CountryUS
Data as of2026-01-10
Moat score
67/ 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 Morningstar, Inc.'s moat claims, evidence, and risks.

View MORN analysis

Comparison highlights

  • Moat score gap: Danaher Corporation leads (77 / 100 vs 67 / 100 for Morningstar, Inc.).
  • Segment focus: Danaher Corporation has 3 segments (41% in Diagnostics); Morningstar, Inc. has 7 segments (34.6% in Morningstar Data and Analytics).
  • Moat breadth: Danaher Corporation has 7 moat types across 3 domains; Morningstar, Inc. has 6 across 3.

Primary market context

Danaher Corporation

Diagnostics

Market

In vitro diagnostics instruments, consumables, software and services (clinical lab, acute care/POC, pathology, molecular diagnostics)

Geography

Global

Customer

Hospitals, physician offices, reference laboratories, pathology labs, critical care settings

Role

IVD device manufacturer and reagent/test supplier + software/services

Revenue share

41%

Morningstar, Inc.

Morningstar Data and Analytics

Market

Investment data, research, and analytics platforms

Geography

Global

Revenue share

34.6%

Side-by-side metrics

Danaher Corporation
Morningstar, Inc.
Ticker / Exchange
DHR - New York Stock Exchange
MORN - NASDAQ
Market cap (USD)
$170.8B
n/a
Gross margin (TTM)
61.4%
n/a
Operating margin (TTM)
22.2%
n/a
Net margin (TTM)
14.4%
n/a
Sector
Healthcare
Financials
Industry
Medical - Diagnostics & Research
n/a
HQ country
US
US
Primary segment
Diagnostics
Morningstar Data and Analytics
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
77 / 100
67 / 100
Moat domains
Demand, Supply, Legal
Demand, Network, Legal
Last update
2025-12-22
2026-01-10

Moat coverage

Shared moat types

Regulated Standards PipeSuite Bundling

Danaher Corporation strengths

Installed Base ConsumablesDesign In QualificationService Field NetworkOperational ExcellenceLearning Curve Yield

Morningstar, Inc. strengths

Data Workflow LockinDe Facto StandardTraining Org Change CostsIP Choke Point

Segment mix

Danaher Corporation segments

Full profile >

Biotechnology

Oligopoly

28.3%

Life Sciences

Oligopoly

30.7%

Diagnostics

Oligopoly

41%

Morningstar, Inc. segments

Full profile >

Morningstar Data and Analytics

Oligopoly

34.6%

PitchBook

Oligopoly

27.2%

Morningstar Credit

Oligopoly

12.8%

Morningstar Wealth

Competitive

10.9%

Morningstar Retirement

Competitive

5.6%

Morningstar Sustainalytics

Oligopoly

5.2%

Morningstar Indexes

Oligopoly

3.7%

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.