VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Fortinet, Inc. vs Vertex Pharmaceuticals Incorporated

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

Fortinet, Inc.

FTNT · NASDAQ

Market cap (USD)$60.5B
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

Vertex Pharmaceuticals Incorporated

VRTX · NASDAQ

Market cap (USD)$119B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorHealthcare
IndustryBiotechnology
CountryUS
Data as of2026-01-08
Moat score
99/ 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 Vertex Pharmaceuticals Incorporated's moat claims, evidence, and risks.

View VRTX analysis

Comparison highlights

  • Moat score gap: Vertex Pharmaceuticals Incorporated leads (99 / 100 vs 84 / 100 for Fortinet, Inc.).
  • Segment focus: Fortinet, Inc. has 2 segments (68% in Subscriptions & Support Services); Vertex Pharmaceuticals Incorporated has 3 segments (99.9% in Cystic Fibrosis CFTR Modulators).
  • Moat breadth: Fortinet, Inc. has 7 moat types across 3 domains; Vertex Pharmaceuticals Incorporated has 7 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%

Vertex Pharmaceuticals Incorporated

Cystic Fibrosis CFTR Modulators

Market

CFTR modulator therapies for cystic fibrosis

Geography

U.S., Europe, Australia, Canada

Customer

Patients (via specialty pharmacies/payers); CF care centers

Role

Drug developer/manufacturer

Revenue share

99.9%

Side-by-side metrics

Fortinet, Inc.
Vertex Pharmaceuticals Incorporated
Ticker / Exchange
FTNT - NASDAQ
VRTX - NASDAQ
Market cap (USD)
$60.5B
$119B
Gross margin (TTM)
81.3%
n/a
Operating margin (TTM)
31%
n/a
Net margin (TTM)
28.6%
n/a
Sector
Technology
Healthcare
Industry
Software - Infrastructure
Biotechnology
HQ country
US
US
Primary segment
Subscriptions & Support Services
Cystic Fibrosis CFTR Modulators
Market structure
Quasi-Monopoly
Quasi-Monopoly
Market share
n/a
70%-78% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Strong
Moat score
84 / 100
99 / 100
Moat domains
Demand, Supply, Financial
Legal, Demand, Financial, Supply
Last update
2025-12-26
2026-01-08

Moat coverage

Shared moat types

Benchmark Pricing PowerSwitching Costs General

Fortinet, Inc. strengths

Suite BundlingKeystone ComponentScope EconomiesInstalled Base ConsumablesLong Term Contracts

Vertex Pharmaceuticals Incorporated strengths

IP Choke PointGovernment Contracting RelationshipsRegulated Standards PipeService Field NetworkCapacity Moat

Segment mix

Fortinet, Inc. segments

Full profile >

Secure Networking Products

Oligopoly

32%

Subscriptions & Support Services

Quasi-Monopoly

68%

Vertex Pharmaceuticals Incorporated segments

Full profile >

Cystic Fibrosis CFTR Modulators

Quasi-Monopoly

99.9%

Hemoglobinopathies Gene Therapy (CASGEVY)

Oligopoly

0.1%

Acute Pain (JOURNAVX)

Competitive

n/a

Want the full wide moat stocks list?

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

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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.