VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Fortinet, Inc. vs Graco Inc.

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

Fortinet, Inc.

FTNT · NASDAQ

Market cap (USD)$59.5B
Gross margin (TTM)81.3%
Operating margin (TTM)31%
Net margin (TTM)28.6%
SectorTechnology
IndustrySoftware - Infrastructure
CountryUS
Data as of2025-12-26
Moat score
84/ 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 Fortinet, Inc.'s moat claims, evidence, and risks.

View FTNT analysis

Graco Inc.

GGG · New York Stock Exchange

Market cap (USD)$13.8B
Gross margin (TTM)52.3%
Operating margin (TTM)26.6%
Net margin (TTM)22.7%
SectorIndustrials
IndustryIndustrial - Machinery
CountryUS
Data as of2026-01-05
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 Graco Inc.'s moat claims, evidence, and risks.

View GGG analysis

Comparison highlights

  • Moat score gap: Fortinet, Inc. leads (84 / 100 vs 67 / 100 for Graco Inc.).
  • Segment focus: Fortinet, Inc. has 2 segments (68% in Subscriptions & Support Services); Graco Inc. has 3 segments (49.4% in Contractor).
  • Primary market structure: Quasi-Monopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Fortinet, Inc. has 7 moat types across 3 domains; Graco Inc. has 7 across 2.

Primary market context

Fortinet, Inc.

Subscriptions & Support Services

Market

Cybersecurity subscriptions and technical support for Fortinet installed base (FortiGuard + FortiCare)

Geography

Global

Customer

Installed-base enterprises and channel partners

Role

Vendor (subscription/support services)

Revenue share

68%

Graco Inc.

Contractor

Market

Professional and prosumer paint/coatings application equipment (airless sprayers, texture sprayers, line stripers, plural-component proportioners)

Geography

Global

Customer

Professional contractors and trades; DIY consumers via retail channels

Role

Equipment OEM / brand owner

Revenue share

49.4%

Side-by-side metrics

Fortinet, Inc.
Graco Inc.
Ticker / Exchange
FTNT - NASDAQ
GGG - New York Stock Exchange
Market cap (USD)
$59.5B
$13.8B
Gross margin (TTM)
81.3%
52.3%
Operating margin (TTM)
31%
26.6%
Net margin (TTM)
28.6%
22.7%
Sector
Technology
Industrials
Industry
Software - Infrastructure
Industrial - Machinery
HQ country
US
US
Primary segment
Subscriptions & Support Services
Contractor
Market structure
Quasi-Monopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
84 / 100
67 / 100
Moat domains
Demand, Supply, Financial
Demand, Supply
Last update
2025-12-26
2026-01-05

Moat coverage

Shared moat types

Scope EconomiesInstalled Base Consumables

Fortinet, Inc. strengths

Suite BundlingKeystone ComponentBenchmark Pricing PowerLong Term ContractsSwitching Costs General

Graco Inc. strengths

Brand TrustDistribution ControlOperational ExcellenceService Field NetworkDesign In Qualification

Segment mix

Fortinet, Inc. segments

Full profile >

Secure Networking Products

Oligopoly

32%

Subscriptions & Support Services

Quasi-Monopoly

68%

Graco Inc. segments

Full profile >

Contractor

Oligopoly

49.4%

Industrial

Oligopoly

43.1%

Expansion Markets

Competitive

7.5%

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.