VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Ecolab Inc. vs Thales S.A.

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

Ecolab Inc.

ECL · New York Stock Exchange

Market cap (USD)
Gross margin (TTM)44.3%
Operating margin (TTM)17.3%
Net margin (TTM)12.5%
SectorMaterials
CountryUS
Data as of2026-01-01
Moat score
63/ 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 Ecolab Inc.'s moat claims, evidence, and risks.

View ECL analysis

Thales S.A.

HO · Euronext Paris

Market cap (USD)$55.3B
Gross margin (TTM)26.1%
Operating margin (TTM)9%
Net margin (TTM)5.1%
SectorIndustrials
CountryFR
Data as of2025-12-28
Moat score
73/ 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 Thales S.A.'s moat claims, evidence, and risks.

View HO analysis

Comparison highlights

  • Moat score gap: Thales S.A. leads (73 / 100 vs 63 / 100 for Ecolab Inc.).
  • Segment focus: Ecolab Inc. has 4 segments (49.5% in Global Industrial); Thales S.A. has 3 segments (53.3% in Defence).
  • Moat breadth: Ecolab Inc. has 7 moat types across 3 domains; Thales S.A. has 8 across 3.

Primary market context

Ecolab Inc.

Global Industrial

Market

Industrial water treatment & process chemistry (incl. food & beverage processing and pulp & paper process aids)

Geography

Global

Customer

B2B

Role

formulator + on-site service/optimization provider

Revenue share

49.5%

Thales S.A.

Defence

Market

Defense electronics, secure communications, and mission systems

Geography

Global

Customer

Government / defence ministries, armed forces, security forces

Role

Prime contractor and system integrator; OEM of defence electronics

Revenue share

53.3%

Side-by-side metrics

Ecolab Inc.
Thales S.A.
Ticker / Exchange
ECL - New York Stock Exchange
HO - Euronext Paris
Market cap (USD)
n/a
$55.3B
Gross margin (TTM)
44.3%
26.1%
Operating margin (TTM)
17.3%
9%
Net margin (TTM)
12.5%
5.1%
Sector
Materials
Industrials
HQ country
US
FR
Primary segment
Global Industrial
Defence
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
63 / 100
73 / 100
Moat domains
Supply, Demand, Legal
Legal, Demand, Supply
Last update
2026-01-01
2025-12-28

Moat coverage

Shared moat types

Service Field NetworkLong Term ContractsBrand Trust

Ecolab Inc. strengths

Data Workflow LockinCompliance AdvantageInstalled Base ConsumablesTraining Org Change Costs

Thales S.A. strengths

Government Contracting RelationshipsDesign In QualificationRegulated Standards PipeSuite BundlingCapex Knowhow Scale

Segment mix

Ecolab Inc. segments

Full profile >

Global Industrial

Oligopoly

49.5%

Global Institutional & Specialty

Oligopoly

34.1%

Global Healthcare & Life Sciences

Oligopoly

9%

Global Pest Elimination

Oligopoly

7.4%

Thales S.A. segments

Full profile >

Defence

Oligopoly

53.3%

Aerospace

Oligopoly

26.6%

Cyber & Digital

Competitive

19.6%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

View the moat stocks list

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.