VOL. XCIV, NO. 247

* WIDE MOAT STOCKS COMPARISON *

NO ADVICE

Monday, December 29, 2025

Stock Comparison

Fortinet, Inc. vs HENSOLDT AG

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

Fortinet, Inc.

FTNT · NASDAQ

Market cap (USD)
SectorTechnology
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

HENSOLDT AG

HAG · Xetra

Market cap (USD)
SectorIndustrials
CountryDE
Data as of2025-12-28
Moat score
77/ 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 HENSOLDT AG's moat claims, evidence, and risks.

View HAG analysis

Comparison highlights

  • Moat score gap: Fortinet, Inc. leads (84 / 100 vs 77 / 100 for HENSOLDT AG).
  • Segment focus: Fortinet, Inc. has 2 segments (68% in Subscriptions & Support Services); HENSOLDT AG has 2 segments (84.6% in Sensors).
  • Primary market structure: Quasi-Monopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Fortinet, Inc. has 7 moat types across 3 domains; HENSOLDT AG has 3 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%

HENSOLDT AG

Sensors

Market

Defence and security sensor solutions (radar, electronic warfare, avionics, mission systems integration)

Geography

Global (Europe-centric)

Customer

Government defence ministries/armed forces and defence prime contractors

Role

Defence electronics supplier / system integrator

Revenue share

84.6%

Side-by-side metrics

Fortinet, Inc.
HENSOLDT AG
Ticker / Exchange
FTNT - NASDAQ
HAG - Xetra
Market cap (USD)
n/a
n/a
Sector
Technology
Industrials
HQ country
US
DE
Primary segment
Subscriptions & Support Services
Sensors
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
77 / 100
Moat domains
Demand, Supply, Financial
Demand, Supply
Last update
2025-12-26
2025-12-28

Moat coverage

Shared moat types

Long Term Contracts

Fortinet, Inc. strengths

Suite BundlingKeystone ComponentScope EconomiesBenchmark Pricing PowerInstalled Base ConsumablesSwitching Costs General

HENSOLDT AG strengths

Design In QualificationCapex Knowhow Scale

Segment mix

Fortinet, Inc. segments

Full profile >

Secure Networking Products

Oligopoly

32%

Subscriptions & Support Services

Quasi-Monopoly

68%

HENSOLDT AG segments

Full profile >

Sensors

Oligopoly

84.6%

Optronics

Oligopoly

15.4%

Want the full wide moat stocks list?

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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.