VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Fortinet, Inc. vs Republic Services, 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

Republic Services, Inc.

RSG · New York Stock Exchange

Market cap (USD)
SectorIndustrials
CountryUS
Data as of2025-12-31
Moat score
80/ 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 Republic Services, Inc.'s moat claims, evidence, and risks.

View RSG analysis

Comparison highlights

  • Moat score gap: Fortinet, Inc. leads (84 / 100 vs 80 / 100 for Republic Services, Inc.).
  • Segment focus: Fortinet, Inc. has 2 segments (68% in Subscriptions & Support Services); Republic Services, Inc. has 2 segments (88.5% in Recycling & Waste Services).
  • Primary market structure: Quasi-Monopoly vs Competitive. Pricing power: Strong vs Moderate.
  • Moat breadth: Fortinet, Inc. has 7 moat types across 3 domains; Republic Services, Inc. has 7 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%

Republic Services, Inc.

Recycling & Waste Services

Market

Integrated non-hazardous solid waste collection, transfer, landfill disposal & recycling services

Geography

United States and Canada

Customer

Municipal, commercial, industrial

Role

Integrated hauler and disposal operator

Revenue share

88.5%

Side-by-side metrics

Fortinet, Inc.
Republic Services, Inc.
Ticker / Exchange
FTNT - NASDAQ
RSG - New York Stock Exchange
Market cap (USD)
n/a
n/a
Sector
Technology
Industrials
HQ country
US
US
Primary segment
Subscriptions & Support Services
Recycling & Waste Services
Market structure
Quasi-Monopoly
Competitive
Market share
n/a
12%-15% (implied)
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
84 / 100
80 / 100
Moat domains
Demand, Supply, Financial
Legal, Supply, Demand
Last update
2025-12-26
2025-12-31

Moat coverage

Shared moat types

Scope EconomiesLong Term Contracts

Fortinet, Inc. strengths

Suite BundlingKeystone ComponentBenchmark Pricing PowerInstalled Base ConsumablesSwitching Costs General

Republic Services, Inc. strengths

Permits Rights Of WayCapacity MoatPhysical Network DensityCompliance AdvantageService Field Network

Segment mix

Fortinet, Inc. segments

Full profile >

Secure Networking Products

Oligopoly

32%

Subscriptions & Support Services

Quasi-Monopoly

68%

Republic Services, Inc. segments

Full profile >

Recycling & Waste Services

Competitive

88.5%

Environmental Solutions

Competitive

11.5%

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.