VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Fortinet, Inc. vs Live Nation Entertainment, 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

Live Nation Entertainment, Inc.

LYV · New York Stock Exchange

Market cap (USD)$33.7B
Gross margin (TTM)46.2%
Operating margin (TTM)4.7%
Net margin (TTM)3.7%
SectorCommunication Services
IndustryEntertainment
CountryUS
Data as of2026-01-04
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 Live Nation Entertainment, Inc.'s moat claims, evidence, and risks.

View LYV analysis

Comparison highlights

  • Moat score: both at 84 / 100.
  • Segment focus: Fortinet, Inc. has 2 segments (68% in Subscriptions & Support Services); Live Nation Entertainment, Inc. has 3 segments (82.2% in Concerts).
  • Primary market structure: Quasi-Monopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Fortinet, Inc. has 7 moat types across 3 domains; Live Nation Entertainment, Inc. has 6 across 3.

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%

Live Nation Entertainment, Inc.

Concerts

Market

Live music concert promotion, festival production, and music venue operations

Geography

Global

Customer

Artists/agents (supply) and fans (end-users); venues and festivals; corporate partners

Role

Promoter + venue operator

Revenue share

82.2%

Side-by-side metrics

Fortinet, Inc.
Live Nation Entertainment, Inc.
Ticker / Exchange
FTNT - NASDAQ
LYV - New York Stock Exchange
Market cap (USD)
$59.5B
$33.7B
Gross margin (TTM)
81.3%
46.2%
Operating margin (TTM)
31%
4.7%
Net margin (TTM)
28.6%
3.7%
Sector
Technology
Communication Services
Industry
Software - Infrastructure
Entertainment
HQ country
US
US
Primary segment
Subscriptions & Support Services
Concerts
Market structure
Quasi-Monopoly
Oligopoly
Market share
n/a
55%-65% (reported)
HHI estimate
n/a
3,600
Pricing power
Strong
Moderate
Moat score
84 / 100
84 / 100
Moat domains
Demand, Supply, Financial
Supply, Demand, Network
Last update
2025-12-26
2026-01-04

Moat coverage

Shared moat types

Scope EconomiesLong Term Contracts

Fortinet, Inc. strengths

Suite BundlingKeystone ComponentBenchmark Pricing PowerInstalled Base ConsumablesSwitching Costs General

Live Nation Entertainment, Inc. strengths

Physical Network DensityService Field NetworkTwo Sided NetworkData Workflow Lockin

Segment mix

Fortinet, Inc. segments

Full profile >

Secure Networking Products

Oligopoly

32%

Subscriptions & Support Services

Quasi-Monopoly

68%

Live Nation Entertainment, Inc. segments

Full profile >

Concerts

Oligopoly

82.2%

Ticketing

Quasi-Monopoly

12.9%

Sponsorship & Advertising

Competitive

5.2%

Want the full wide moat stocks list?

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

View the moat stocks list

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.