VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Edwards Lifesciences Corporation vs Morningstar, Inc.

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
Gross margin (TTM)78.3%
Operating margin (TTM)26.6%
Net margin (TTM)23.2%
SectorHealthcare
IndustryMedical - Devices
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

Morningstar, Inc.

MORN · NASDAQ

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
Industry
CountryUS
Data as of2026-01-10
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 Morningstar, Inc.'s moat claims, evidence, and risks.

View MORN analysis

Comparison highlights

  • Moat score gap: Edwards Lifesciences Corporation leads (82 / 100 vs 67 / 100 for Morningstar, Inc.).
  • Segment focus: Edwards Lifesciences Corporation has 3 segments (75.5% in Transcatheter Aortic Valve Replacement (TAVR)); Morningstar, Inc. has 7 segments (34.6% in Morningstar Data and Analytics).
  • Moat breadth: Edwards Lifesciences Corporation has 6 moat types across 3 domains; Morningstar, Inc. has 6 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%

Morningstar, Inc.

Morningstar Data and Analytics

Market

Investment data, research, and analytics platforms

Geography

Global

Revenue share

34.6%

Side-by-side metrics

Edwards Lifesciences Corporation
Morningstar, Inc.
Ticker / Exchange
EW - New York Stock Exchange
MORN - NASDAQ
Market cap (USD)
$50B
n/a
Gross margin (TTM)
78.3%
n/a
Operating margin (TTM)
26.6%
n/a
Net margin (TTM)
23.2%
n/a
Sector
Healthcare
Financials
Industry
Medical - Devices
n/a
HQ country
US
US
Primary segment
Transcatheter Aortic Valve Replacement (TAVR)
Morningstar Data and Analytics
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
67 / 100
Moat domains
Demand, Legal, Supply
Demand, Network, Legal
Last update
2025-12-31
2026-01-10

Moat coverage

Shared moat types

Training Org Change CostsRegulated Standards PipeIP Choke Point

Edwards Lifesciences Corporation strengths

Brand TrustCompliance AdvantageSupply Chain Control

Morningstar, Inc. strengths

Data Workflow LockinDe Facto StandardSuite Bundling

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%

Morningstar, Inc. segments

Full profile >

Morningstar Data and Analytics

Oligopoly

34.6%

PitchBook

Oligopoly

27.2%

Morningstar Credit

Oligopoly

12.8%

Morningstar Wealth

Competitive

10.9%

Morningstar Retirement

Competitive

5.6%

Morningstar Sustainalytics

Oligopoly

5.2%

Morningstar Indexes

Oligopoly

3.7%

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.