VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Fastenal Company vs Thales S.A.

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

Fastenal Company

FAST · NASDAQ

Market cap (USD)$53.1B
Gross margin (TTM)45%
Operating margin (TTM)20.2%
Net margin (TTM)15.4%
SectorIndustrials
IndustryIndustrial - Distribution
CountryUS
Data as of2026-01-06
Moat score
57/ 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 Fastenal Company's moat claims, evidence, and risks.

View FAST analysis

Thales S.A.

HO · Euronext Paris

Market cap (USD)$54.3B
Gross margin (TTM)26.1%
Operating margin (TTM)9%
Net margin (TTM)5.1%
SectorIndustrials
IndustryAerospace & Defense
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: Thales S.A. leads (73 / 100 vs 57 / 100 for Fastenal Company).
  • Segment focus: Fastenal Company has 2 segments (55.7% in Core industrial & construction supplies distribution (branches, Onsite, eBusiness excl. FMI)); Thales S.A. has 3 segments (53.3% in Defence).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Weak vs Moderate.
  • Moat breadth: Fastenal Company has 4 moat types across 2 domains; Thales S.A. has 8 across 3.

Primary market context

Fastenal Company

Core industrial & construction supplies distribution (branches, Onsite, eBusiness excl. FMI)

Market

Wholesale distribution of industrial and construction supplies (fasteners, safety, tools, and other MRO/OEM consumables)

Geography

Primarily North America (with growing international presence)

Customer

Manufacturing (OEM and MRO), non-residential construction, and other commercial customers

Role

Distributor

Revenue share

55.7%

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

Fastenal Company
Thales S.A.
Ticker / Exchange
FAST - NASDAQ
HO - Euronext Paris
Market cap (USD)
$53.1B
$54.3B
Gross margin (TTM)
45%
26.1%
Operating margin (TTM)
20.2%
9%
Net margin (TTM)
15.4%
5.1%
Sector
Industrials
Industrials
Industry
Industrial - Distribution
Aerospace & Defense
HQ country
US
FR
Primary segment
Core industrial & construction supplies distribution (branches, Onsite, eBusiness excl. FMI)
Defence
Market structure
Competitive
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Weak
Moderate
Moat score
57 / 100
73 / 100
Moat domains
Supply, Demand
Legal, Demand, Supply
Last update
2026-01-06
2025-12-28

Moat coverage

Shared moat types

Service Field Network

Fastenal Company strengths

Data Workflow LockinProcurement InertiaOperational Excellence

Thales S.A. strengths

Government Contracting RelationshipsLong Term ContractsDesign In QualificationRegulated Standards PipeBrand TrustSuite BundlingCapex Knowhow Scale

Segment mix

Fastenal Company segments

Full profile >

Fastenal Managed Inventory (FMI)

Competitive

44.3%

Core industrial & construction supplies distribution (branches, Onsite, eBusiness excl. FMI)

Competitive

55.7%

Thales S.A. segments

Full profile >

Defence

Oligopoly

53.3%

Aerospace

Oligopoly

26.6%

Cyber & Digital

Competitive

19.6%

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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.