VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Sunday, January 11, 2026

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Stock Comparison

Fair Isaac Corporation vs Morningstar, Inc.

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

Fair Isaac Corporation

FICO · New York Stock Exchange

Market cap (USD)$40.4B
Gross margin (TTM)82.2%
Operating margin (TTM)46.5%
Net margin (TTM)32.8%
SectorTechnology
IndustrySoftware - Application
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 Fair Isaac Corporation's moat claims, evidence, and risks.

View FICO 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: Fair Isaac Corporation leads (82 / 100 vs 67 / 100 for Morningstar, Inc.).
  • Segment focus: Fair Isaac Corporation has 2 segments (58.7% in Scores); Morningstar, Inc. has 7 segments (34.6% in Morningstar Data and Analytics).
  • Primary market structure: Quasi-Monopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Fair Isaac Corporation has 5 moat types across 2 domains; Morningstar, Inc. has 6 across 3.

Primary market context

Fair Isaac Corporation

Scores

Market

Consumer credit scoring and related predictive scores used in lending decisions

Geography

Primarily United States; also international

Customer

Lenders (mortgage, credit card, auto, etc.), consumer reporting agencies, and consumers (B2C)

Role

Score model developer/licensor; distribution via consumer reporting agencies and direct-to-consumer channels

Revenue share

58.7%

Morningstar, Inc.

Morningstar Data and Analytics

Market

Investment data, research, and analytics platforms

Geography

Global

Revenue share

34.6%

Side-by-side metrics

Fair Isaac Corporation
Morningstar, Inc.
Ticker / Exchange
FICO - New York Stock Exchange
MORN - NASDAQ
Market cap (USD)
$40.4B
n/a
Gross margin (TTM)
82.2%
n/a
Operating margin (TTM)
46.5%
n/a
Net margin (TTM)
32.8%
n/a
Sector
Technology
Financials
Industry
Software - Application
n/a
HQ country
US
US
Primary segment
Scores
Morningstar Data and Analytics
Market structure
Quasi-Monopoly
Oligopoly
Market share
90% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
82 / 100
67 / 100
Moat domains
Network, Demand
Demand, Network, Legal
Last update
2025-12-31
2026-01-10

Moat coverage

Shared moat types

De Facto StandardData Workflow Lockin

Fair Isaac Corporation strengths

Format Lock InBrand TrustSwitching Costs General

Morningstar, Inc. strengths

Regulated Standards PipeSuite BundlingTraining Org Change CostsIP Choke Point

Segment mix

Fair Isaac Corporation segments

Full profile >

Scores

Quasi-Monopoly

58.7%

Software

Competitive

41.3%

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?

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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.