VOL. XCIV, NO. 247

* MOAT STOCKS COMPARISON *

NO ADVICE

Friday, December 26, 2025

Stock Comparison

Fortinet, Inc. vs Teradyne, 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.

View full moat analysis >

Teradyne, Inc.

TER · Nasdaq Stock Market

Market cap (USD)$31B
SectorTechnology
CountryUS
Data as of2025-12-23
Moat score
79/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

View full moat analysis >

Side-by-side metrics

Fortinet, Inc.
Teradyne, Inc.
Ticker / Exchange
FTNT - NASDAQ
TER - Nasdaq Stock Market
Market cap (USD)
n/a
$31B
Sector
Technology
Technology
HQ country
US
US
Primary segment
Subscriptions & Support Services
Semiconductor Test
Market structure
Quasi-Monopoly
Duopoly
Market share
n/a
27%-30% (implied)
HHI estimate
n/a
3,565
Pricing power
Strong
Moderate
Moat score
84 / 100
79 / 100
Moat domains
Demand, Supply, Financial
Demand, Supply, Network
Last update
2025-12-26
2025-12-23

Moat coverage

Shared moat types

Switching Costs General

Fortinet, Inc. strengths

Suite BundlingKeystone ComponentScope EconomiesBenchmark Pricing PowerInstalled Base ConsumablesLong Term Contracts

Teradyne, Inc. strengths

Format Lock InCapex Knowhow ScaleDesign In QualificationEcosystem ComplementsBrand Trust

Segment mix

Fortinet, Inc. segments

Full profile >

Secure Networking Products

Oligopoly

32%

Subscriptions & Support Services

Quasi-Monopoly

68%

Teradyne, Inc. segments

Full profile >

Semiconductor Test

Duopoly

77.9%

Product Test

Competitive

11.7%

Robotics

Competitive

10.4%

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 Pricing, features, and availability may be incomplete or out of date.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.