VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Edwards Lifesciences Corporation vs Thales S.A.

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

Edwards Lifesciences Corporation

EW · New York Stock Exchange

Market cap (USD)$50B
SectorHealthcare
CountryUS
Data as of2025-12-31
Moat score
82/ 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 Edwards Lifesciences Corporation's moat claims, evidence, and risks.

View EW analysis

Thales S.A.

HO · Euronext Paris

Market cap (USD)$55.3B
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: Edwards Lifesciences Corporation leads (82 / 100 vs 73 / 100 for Thales S.A.).
  • Segment focus: Edwards Lifesciences Corporation has 3 segments (75.5% in Transcatheter Aortic Valve Replacement (TAVR)); Thales S.A. has 3 segments (53.3% in Defence).
  • Moat breadth: Edwards Lifesciences Corporation has 6 moat types across 3 domains; Thales S.A. has 8 across 3.

Primary market context

Edwards Lifesciences Corporation

Transcatheter Aortic Valve Replacement (TAVR)

Market

Transcatheter aortic valve replacement (TAVR) devices

Geography

Global

Customer

Hospitals and structural heart centers

Role

Medical device manufacturer

Revenue share

75.5%

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

Edwards Lifesciences Corporation
Thales S.A.
Ticker / Exchange
EW - New York Stock Exchange
HO - Euronext Paris
Market cap (USD)
$50B
$55.3B
Sector
Healthcare
Industrials
HQ country
US
FR
Primary segment
Transcatheter Aortic Valve Replacement (TAVR)
Defence
Market structure
Oligopoly
Oligopoly
Market share
60%-73% (estimated)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
82 / 100
73 / 100
Moat domains
Demand, Legal, Supply
Legal, Demand, Supply
Last update
2025-12-31
2025-12-28

Moat coverage

Shared moat types

Brand TrustRegulated Standards Pipe

Edwards Lifesciences Corporation strengths

Training Org Change CostsIP Choke PointCompliance AdvantageSupply Chain Control

Thales S.A. strengths

Government Contracting RelationshipsLong Term ContractsDesign In QualificationService Field NetworkSuite BundlingCapex Knowhow Scale

Segment mix

Edwards Lifesciences Corporation segments

Full profile >

Transcatheter Aortic Valve Replacement (TAVR)

Oligopoly

75.5%

Transcatheter Mitral and Tricuspid Therapies (TMTT)

Competitive

6.5%

Surgical Structural Heart

Oligopoly

18%

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?

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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.