VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Fortinet, Inc. vs Philip Morris International Inc.

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

Philip Morris International Inc.

PM · New York Stock Exchange

Market cap (USD)
SectorConsumer
CountryUS
Data as of2025-12-31
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 Philip Morris International Inc.'s moat claims, evidence, and risks.

View PM analysis

Comparison highlights

  • Moat score: both at 84 / 100.
  • Segment focus: Fortinet, Inc. has 2 segments (68% in Subscriptions & Support Services); Philip Morris International Inc. has 3 segments (61.3% in Combustible Tobacco).
  • Primary market structure: Quasi-Monopoly vs Oligopoly. Pricing power: Strong vs Strong.
  • Moat breadth: Fortinet, Inc. has 7 moat types across 3 domains; Philip Morris International 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%

Philip Morris International Inc.

Combustible Tobacco

Market

International combustible tobacco (primarily cigarettes)

Geography

Global (primarily ex-U.S.)

Customer

Adult smokers; distributors/wholesalers and retail channels

Role

Branded manufacturer and distributor

Revenue share

61.3%

Side-by-side metrics

Fortinet, Inc.
Philip Morris International Inc.
Ticker / Exchange
FTNT - NASDAQ
PM - New York Stock Exchange
Market cap (USD)
n/a
n/a
Sector
Technology
Consumer
HQ country
US
US
Primary segment
Subscriptions & Support Services
Combustible Tobacco
Market structure
Quasi-Monopoly
Oligopoly
Market share
n/a
25.3% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Strong
Moat score
84 / 100
84 / 100
Moat domains
Demand, Supply, Financial
Demand, Supply, Legal
Last update
2025-12-26
2025-12-31

Moat coverage

Shared moat types

Installed Base Consumables

Fortinet, Inc. strengths

Suite BundlingKeystone ComponentScope EconomiesBenchmark Pricing PowerLong Term ContractsSwitching Costs General

Philip Morris International Inc. strengths

Brand TrustDistribution ControlCompliance AdvantageIP Choke PointRegulated Standards Pipe

Segment mix

Fortinet, Inc. segments

Full profile >

Secure Networking Products

Oligopoly

32%

Subscriptions & Support Services

Quasi-Monopoly

68%

Philip Morris International Inc. segments

Full profile >

Combustible Tobacco

Oligopoly

61.3%

Smoke-Free Products

Oligopoly

37.8%

Wellness & Healthcare

Competitive

0.9%

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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.