VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 3, 2026

Stock Comparison

Edenred SE vs Novartis AG

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

Edenred SE

EDEN · Euronext Paris

Market cap (USD)$4.5B
Gross margin (TTM)47%
Operating margin (TTM)31.7%
Net margin (TTM)15.6%
SectorFinancials
IndustryFinancial - Credit Services
CountryFR
Data as of2025-12-28
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 Edenred SE's moat claims, evidence, and risks.

View EDEN analysis

Novartis AG

NOVN · SIX Swiss Exchange

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorHealthcare
Industry
CountryCH
Data as of2026-01-02
Moat score
65/ 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 Novartis AG's moat claims, evidence, and risks.

View NOVN analysis

Comparison highlights

  • Moat score gap: Edenred SE leads (67 / 100 vs 65 / 100 for Novartis AG).
  • Segment focus: Edenred SE has 3 segments (65.2% in Benefits & Engagement); Novartis AG has 5 segments (29.3% in Oncology).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Edenred SE has 7 moat types across 5 domains; Novartis AG has 4 across 3.

Primary market context

Edenred SE

Benefits & Engagement

Market

Employee benefits and engagement solutions (meal vouchers, gift/incentives, engagement platforms)

Geography

Global

Customer

Employers / HR departments

Role

Issuer + payment network orchestrator (specific-purpose payments)

Revenue share

65.2%

Novartis AG

Oncology

Market

Oncology and hematology branded medicines (including targeted therapies and radioligand therapy)

Geography

Global

Customer

Oncologists and hospitals; reimbursed by payers; hospital and specialty pharmacy channels

Role

Originator developer, manufacturer, and marketer of oncology therapies

Revenue share

29.3%

Side-by-side metrics

Edenred SE
Novartis AG
Ticker / Exchange
EDEN - Euronext Paris
NOVN - SIX Swiss Exchange
Market cap (USD)
$4.5B
n/a
Gross margin (TTM)
47%
n/a
Operating margin (TTM)
31.7%
n/a
Net margin (TTM)
15.6%
n/a
Sector
Financials
Healthcare
Industry
Financial - Credit Services
n/a
HQ country
FR
CH
Primary segment
Benefits & Engagement
Oncology
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
67 / 100
65 / 100
Moat domains
Legal, Network, Financial, Demand, Supply
Legal, Supply, Demand
Last update
2025-12-28
2026-01-02

Moat coverage

Shared moat types

Regulated Standards PipeBrand TrustCapex Knowhow Scale

Edenred SE strengths

Two Sided NetworkFloat PrepaymentSwitching Costs GeneralSuite Bundling

Novartis AG strengths

IP Choke Point

Segment mix

Edenred SE segments

Full profile >

Benefits & Engagement

Oligopoly

65.2%

Mobility

Oligopoly

23.9%

Complementary Solutions

Competitive

10.8%

Novartis AG segments

Full profile >

Cardiovascular, Renal and Metabolic

Oligopoly

17%

Immunology

Oligopoly

18.5%

Neuroscience

Oligopoly

9.4%

Oncology

Oligopoly

29.3%

Established Brands

Competitive

25.8%

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.