VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Dino Polska S.A. vs Waters Corporation

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

Dino Polska S.A.

DNP · Warsaw Stock Exchange

Market cap (USD)$3.7B
Gross margin (TTM)26.1%
Operating margin (TTM)272.7%
Net margin (TTM)261.5%
SectorConsumer
IndustryAsset Management - Income
CountryPL
Data as of2026-01-05
Moat score
66/ 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 Dino Polska S.A.'s moat claims, evidence, and risks.

View DNP analysis

Waters Corporation

WAT · New York Stock Exchange

Market cap (USD)$23.7B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorHealthcare
Industry
CountryUS
Data as of2026-01-09
Moat score
66/ 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 Waters Corporation's moat claims, evidence, and risks.

View WAT analysis

Comparison highlights

  • Moat score: both at 66 / 100.
  • Segment focus: Dino Polska S.A. has 1 segment (100% in Proximity grocery retail (Dino stores)); Waters Corporation has 4 segments (34.9% in Waters instrument systems).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Weak vs Moderate.
  • Moat breadth: Dino Polska S.A. has 5 moat types across 2 domains; Waters Corporation has 7 across 2.

Primary market context

Dino Polska S.A.

Proximity grocery retail (Dino stores)

Market

Retail grocery (mid-sized proximity supermarkets)

Geography

Poland

Customer

Households / consumers

Role

Brick-and-mortar grocery retailer

Revenue share

100%

Waters Corporation

Waters instrument systems

Market

Liquid chromatography (LC/UPLC) and mass spectrometry (MS) analytical instrument systems (including LC-MS workflows and instrument control/data system software)

Geography

Global

Customer

Pharma/biotech, industrial, academic and government laboratories

Role

OEM + software/platform provider

Revenue share

34.9%

Side-by-side metrics

Dino Polska S.A.
Waters Corporation
Ticker / Exchange
DNP - Warsaw Stock Exchange
WAT - New York Stock Exchange
Market cap (USD)
$3.7B
$23.7B
Gross margin (TTM)
26.1%
n/a
Operating margin (TTM)
272.7%
n/a
Net margin (TTM)
261.5%
n/a
Sector
Consumer
Healthcare
Industry
Asset Management - Income
n/a
HQ country
PL
US
Primary segment
Proximity grocery retail (Dino stores)
Waters instrument systems
Market structure
Oligopoly
Oligopoly
Market share
7%-9% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Weak
Moderate
Moat score
66 / 100
66 / 100
Moat domains
Supply, Demand
Demand, Supply
Last update
2026-01-05
2026-01-09

Moat coverage

Shared moat types

Supply Chain Control

Dino Polska S.A. strengths

Physical Network DensityHabit DefaultOperational ExcellenceScale Economies Unit Cost

Waters Corporation strengths

Data Workflow LockinDesign In QualificationBrand TrustInstalled Base ConsumablesLong Term ContractsService Field Network

Segment mix

Dino Polska S.A. segments

Full profile >

Proximity grocery retail (Dino stores)

Oligopoly

100%

Waters Corporation segments

Full profile >

Waters instrument systems

Oligopoly

34.9%

Chemistry consumables

Competitive

19.1%

Waters service & software maintenance

Competitive

34%

TA instrument systems & service

Oligopoly

12%

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.