VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Stock Comparison

EssilorLuxottica vs Novartis AG

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

EssilorLuxottica

EL · Euronext Paris

Market cap (USD)$110.3B
Gross margin (TTM)61.5%
Operating margin (TTM)12.4%
Net margin (TTM)8.5%
SectorHealthcare
IndustryMedical - Instruments & Supplies
CountryFR
Data as of2026-01-11
Moat score
69/ 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 EssilorLuxottica's moat claims, evidence, and risks.

View EL analysis

Novartis AG

NOVN · SIX Swiss Exchange

Market cap (USD)$241.3B
Gross margin (TTM)75.7%
Operating margin (TTM)31.2%
Net margin (TTM)24.9%
SectorHealthcare
IndustryDrug Manufacturers - General
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: EssilorLuxottica leads (69 / 100 vs 65 / 100 for Novartis AG).
  • Segment focus: EssilorLuxottica has 2 segments (52.7% in Direct to Consumer); Novartis AG has 5 segments (29.3% in Oncology).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: EssilorLuxottica has 5 moat types across 3 domains; Novartis AG has 4 across 3.

Primary market context

EssilorLuxottica

Direct to Consumer

Market

Optical retail and e-commerce (prescription eyewear and sunglasses)

Geography

Global

Customer

Consumers (end-users)

Role

Omnichannel retailer + vertically integrated manufacturer/brand owner

Revenue share

52.7%

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

EssilorLuxottica
Novartis AG
Ticker / Exchange
EL - Euronext Paris
NOVN - SIX Swiss Exchange
Market cap (USD)
$110.3B
$241.3B
Gross margin (TTM)
61.5%
75.7%
Operating margin (TTM)
12.4%
31.2%
Net margin (TTM)
8.5%
24.9%
Sector
Healthcare
Healthcare
Industry
Medical - Instruments & Supplies
Drug Manufacturers - General
HQ country
FR
CH
Primary segment
Direct to Consumer
Oncology
Market structure
Competitive
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
69 / 100
65 / 100
Moat domains
Legal, Supply, Demand
Legal, Supply, Demand
Last update
2026-01-11
2026-01-02

Moat coverage

Shared moat types

IP Choke PointBrand Trust

EssilorLuxottica strengths

Distribution ControlScale Economies Unit CostContractual Exclusivity

Novartis AG strengths

Regulated Standards PipeCapex Knowhow Scale

Segment mix

EssilorLuxottica segments

Full profile >

Professional Solutions

Oligopoly

47.3%

Direct to Consumer

Competitive

52.7%

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?

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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.