VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

FedEx Corporation vs Watsco, Inc.

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

FedEx Corporation

FDX · New York Stock Exchange

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorIndustrials
Industry
CountryUS
Data as of2026-01-10
Moat score
72/ 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 FedEx Corporation's moat claims, evidence, and risks.

View FDX analysis

Watsco, Inc.

WSO · New York Stock Exchange

Market cap (USD)$15.3B
Gross margin (TTM)28.3%
Operating margin (TTM)10.2%
Net margin (TTM)7.4%
SectorIndustrials
IndustryIndustrial - Distribution
CountryUS
Data as of2026-01-05
Moat score
72/ 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 Watsco, Inc.'s moat claims, evidence, and risks.

View WSO analysis

Comparison highlights

  • Moat score: both at 72 / 100.
  • Segment focus: FedEx Corporation has 3 segments (85.6% in Federal Express (integrated parcel & express)); Watsco, Inc. has 1 segment (100% in HVAC/R Distribution).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: FedEx Corporation has 6 moat types across 4 domains; Watsco, Inc. has 4 across 3.

Primary market context

FedEx Corporation

Federal Express (integrated parcel & express)

Market

Integrated parcel and express delivery (air-ground integrator model)

Geography

Global

Customer

Business and consumer shippers

Role

Carrier / integrator

Revenue share

85.6%

Watsco, Inc.

HVAC/R Distribution

Market

HVAC/R equipment, parts and supplies distribution

Geography

North America (U.S., Canada, Mexico, Puerto Rico; export to Latin America/Caribbean)

Customer

Licensed HVAC and refrigeration contractors (residential & commercial)

Role

Wholesale distributor

Revenue share

100%

Side-by-side metrics

FedEx Corporation
Watsco, Inc.
Ticker / Exchange
FDX - New York Stock Exchange
WSO - New York Stock Exchange
Market cap (USD)
n/a
$15.3B
Gross margin (TTM)
n/a
28.3%
Operating margin (TTM)
n/a
10.2%
Net margin (TTM)
n/a
7.4%
Sector
Industrials
Industrials
Industry
n/a
Industrial - Distribution
HQ country
US
US
Primary segment
Federal Express (integrated parcel & express)
HVAC/R Distribution
Market structure
Oligopoly
Competitive
Market share
18% (reported)
9%-12% (implied)
HHI estimate
2,464
n/a
Pricing power
Moderate
Moderate
Moat score
72 / 100
72 / 100
Moat domains
Supply, Demand, Financial, Network
Supply, Legal, Demand
Last update
2026-01-10
2026-01-05

Moat coverage

Shared moat types

Physical Network DensityScale Economies Unit Cost

FedEx Corporation strengths

Brand TrustBenchmark Pricing PowerScope EconomiesData Network Effects

Watsco, Inc. strengths

Contractual ExclusivityData Workflow Lockin

Segment mix

FedEx Corporation segments

Full profile >

Federal Express (integrated parcel & express)

Oligopoly

85.6%

FedEx Freight (LTL)

Oligopoly

10.1%

Corporate, other, and eliminations (Dataworks, Office, Logistics)

Competitive

4.2%

Watsco, Inc. segments

Full profile >

HVAC/R Distribution

Competitive

100%

Want the full wide moat stocks list?

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Looking for expansion-stage stocks?

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.