VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Saturday, January 10, 2026

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Stock Comparison

Elevance Health, Inc. vs KKR & Co. Inc.

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

Elevance Health, Inc.

ELV · New York Stock Exchange

Market cap (USD)$82.8B
Gross margin (TTM)—
Operating margin (TTM)—
Net margin (TTM)—
SectorHealthcare
IndustryMedical - Healthcare Plans
CountryUS
Data as of2026-01-09
Moat score
74/ 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 Elevance Health, Inc.'s moat claims, evidence, and risks.

View ELV analysis

KKR & Co. Inc.

KKR · New York Stock Exchange

Market cap (USD)$120B
Gross margin (TTM)19.5%
Operating margin (TTM)2.6%
Net margin (TTM)14.1%
SectorFinancials
IndustryAsset Management
CountryUS
Data as of2026-01-06
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 KKR & Co. Inc.'s moat claims, evidence, and risks.

View KKR analysis

Comparison highlights

  • Moat score gap: Elevance Health, Inc. leads (74 / 100 vs 67 / 100 for KKR & Co. Inc.).
  • Segment focus: Elevance Health, Inc. has 3 segments (85.2% in Health Benefits); KKR & Co. Inc. has 3 segments (52.3% in Asset Management).
  • Moat breadth: Elevance Health, Inc. has 8 moat types across 3 domains; KKR & Co. Inc. has 7 across 4.

Primary market context

Elevance Health, Inc.

Health Benefits

Market

U.S. health insurance and managed care

Geography

United States

Customer

Employers, individuals, and government programs

Role

Payer / managed care organization

Revenue share

85.2%

KKR & Co. Inc.

Asset Management

Market

Alternative asset management (private equity, private credit, real assets, and related strategies)

Geography

Global

Customer

Institutional and wealth investors (LPs) allocating to private markets

Role

General partner / investment manager

Revenue share

52.3%

Side-by-side metrics

Elevance Health, Inc.
KKR & Co. Inc.
Ticker / Exchange
ELV - New York Stock Exchange
KKR - New York Stock Exchange
Market cap (USD)
$82.8B
$120B
Gross margin (TTM)
n/a
19.5%
Operating margin (TTM)
n/a
2.6%
Net margin (TTM)
n/a
14.1%
Sector
Healthcare
Financials
Industry
Medical - Healthcare Plans
Asset Management
HQ country
US
US
Primary segment
Health Benefits
Asset Management
Market structure
Oligopoly
Oligopoly
Market share
n/a
3.5%-5% (implied)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
74 / 100
67 / 100
Moat domains
Legal, Demand, Supply
Demand, Supply, Financial, Legal
Last update
2026-01-09
2026-01-06

Moat coverage

Shared moat types

Brand TrustScale Economies Unit Cost

Elevance Health, Inc. strengths

Concession LicenseGovernment Contracting RelationshipsData Workflow LockinSuite BundlingScope EconomiesSwitching Costs General

KKR & Co. Inc. strengths

Long Term ContractsDeal sourcing and origination relationshipsFloat PrepaymentCompliance AdvantageCapital markets and exit execution capability

Segment mix

Elevance Health, Inc. segments

Full profile >

Health Benefits

Oligopoly

85.2%

CarelonRx

Oligopoly

12.8%

Carelon Services

Competitive

1.9%

KKR & Co. Inc. segments

Full profile >

Asset Management

Oligopoly

52.3%

Insurance

Competitive

46.5%

Strategic Holdings

Competitive

1.2%

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

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.