VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Fortinet, Inc. vs KONE Oyj

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

Fortinet, Inc.

FTNT · NASDAQ

Market cap (USD)$59.6B
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

KONE Oyj

KNEBV · Nasdaq Helsinki

Market cap (USD)$37B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorIndustrials
Industry
CountryFI
Data as of2026-01-02
Moat score
63/ 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 KONE Oyj's moat claims, evidence, and risks.

View KNEBV analysis

Comparison highlights

  • Moat score gap: Fortinet, Inc. leads (84 / 100 vs 63 / 100 for KONE Oyj).
  • Segment focus: Fortinet, Inc. has 2 segments (68% in Subscriptions & Support Services); KONE Oyj has 3 segments (40.6% in New Building Solutions).
  • Primary market structure: Quasi-Monopoly vs Oligopoly. Pricing power: Strong vs Weak.
  • Moat breadth: Fortinet, Inc. has 7 moat types across 3 domains; KONE Oyj has 8 across 4.

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%

KONE Oyj

New Building Solutions

Market

Elevator, escalator and automatic building door new equipment (new installations)

Geography

Global

Customer

Property developers and general contractors

Role

OEM + project installation

Revenue share

40.6%

Side-by-side metrics

Fortinet, Inc.
KONE Oyj
Ticker / Exchange
FTNT - NASDAQ
KNEBV - Nasdaq Helsinki
Market cap (USD)
$59.6B
$37B
Gross margin (TTM)
81.3%
n/a
Operating margin (TTM)
31%
n/a
Net margin (TTM)
28.6%
n/a
Sector
Technology
Industrials
Industry
Software - Infrastructure
n/a
HQ country
US
FI
Primary segment
Subscriptions & Support Services
New Building Solutions
Market structure
Quasi-Monopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Weak
Moat score
84 / 100
63 / 100
Moat domains
Demand, Supply, Financial
Supply, Financial, Demand, Legal
Last update
2025-12-26
2026-01-02

Moat coverage

Shared moat types

Installed Base ConsumablesSwitching Costs General

Fortinet, Inc. strengths

Suite BundlingKeystone ComponentScope EconomiesBenchmark Pricing PowerLong Term Contracts

KONE Oyj strengths

Capex Knowhow ScaleNegative Working CapitalData Workflow LockinService Field NetworkOperational ExcellenceCompliance Advantage

Segment mix

Fortinet, Inc. segments

Full profile >

Secure Networking Products

Oligopoly

32%

Subscriptions & Support Services

Quasi-Monopoly

68%

KONE Oyj segments

Full profile >

New Building Solutions

Oligopoly

40.6%

Service (maintenance & repairs)

Competitive

40.6%

Modernization

Competitive

18.8%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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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.