VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Dassault Systemes SE vs Morningstar, Inc.

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

Dassault Systemes SE

DSY · Euronext Paris

Market cap (USD)$32.7B
Gross margin (TTM)81%
Operating margin (TTM)21.4%
Net margin (TTM)18.6%
SectorTechnology
IndustrySoftware - Application
CountryFR
Data as of2025-12-29
Moat score
72/ 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 Dassault Systemes SE's moat claims, evidence, and risks.

View DSY 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: Dassault Systemes SE leads (72 / 100 vs 67 / 100 for Morningstar, Inc.).
  • Segment focus: Dassault Systemes SE has 3 segments (55% in Industrial Innovation); Morningstar, Inc. has 7 segments (34.6% in Morningstar Data and Analytics).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Dassault Systemes SE has 7 moat types across 4 domains; Morningstar, Inc. has 6 across 3.

Primary market context

Dassault Systemes SE

Industrial Innovation

Market

Enterprise PLM, CAD/CAE, and digital manufacturing software for discrete industries

Geography

Global

Customer

Large enterprises and Tier-1 suppliers

Role

Software platform vendor

Revenue share

55%

Morningstar, Inc.

Morningstar Data and Analytics

Market

Investment data, research, and analytics platforms

Geography

Global

Revenue share

34.6%

Side-by-side metrics

Dassault Systemes SE
Morningstar, Inc.
Ticker / Exchange
DSY - Euronext Paris
MORN - NASDAQ
Market cap (USD)
$32.7B
n/a
Gross margin (TTM)
81%
n/a
Operating margin (TTM)
21.4%
n/a
Net margin (TTM)
18.6%
n/a
Sector
Technology
Financials
Industry
Software - Application
n/a
HQ country
FR
US
Primary segment
Industrial Innovation
Morningstar Data and Analytics
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
72 / 100
67 / 100
Moat domains
Demand, Network, Supply, Legal
Demand, Network, Legal
Last update
2025-12-29
2026-01-10

Moat coverage

Shared moat types

Data Workflow LockinSuite BundlingDe Facto Standard

Dassault Systemes SE strengths

Switching Costs GeneralDistribution ControlCompliance AdvantageReputation Reviews

Morningstar, Inc. strengths

Regulated Standards PipeTraining Org Change CostsIP Choke Point

Segment mix

Dassault Systemes SE segments

Full profile >

Industrial Innovation

Oligopoly

55%

Mainstream Innovation

Oligopoly

25%

Life Sciences

Oligopoly

20%

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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Looking for expansion-stage stocks?

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.