VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Monday, December 29, 2025

Stock Comparison

Fortinet, Inc. vs WiseTech Global Limited

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

WiseTech Global Limited

WTC · ASX

Market cap (USD)$15.4B
SectorTechnology
CountryAU
Data as of2025-12-29
Moat score
86/ 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 WiseTech Global Limited's moat claims, evidence, and risks.

View WTC analysis

Comparison highlights

  • Moat score gap: WiseTech Global Limited leads (86 / 100 vs 84 / 100 for Fortinet, Inc.).
  • Segment focus: Fortinet, Inc. has 2 segments (68% in Subscriptions & Support Services); WiseTech Global Limited has 3 segments (87.6% in CargoWise).
  • Primary market structure: Quasi-Monopoly vs Oligopoly. Pricing power: Strong vs Strong.
  • Moat breadth: Fortinet, Inc. has 7 moat types across 3 domains; WiseTech Global Limited has 6 across 2.

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%

WiseTech Global Limited

CargoWise

Market

Enterprise logistics execution software for freight forwarders, customs brokers and 3PLs (CargoWise platform)

Geography

Global

Customer

Logistics service providers (freight forwarders, customs brokers, 3PLs)

Role

SaaS software platform vendor

Revenue share

87.6%

Side-by-side metrics

Fortinet, Inc.
WiseTech Global Limited
Ticker / Exchange
FTNT - NASDAQ
WTC - ASX
Market cap (USD)
n/a
$15.4B
Sector
Technology
Technology
HQ country
US
AU
Primary segment
Subscriptions & Support Services
CargoWise
Market structure
Quasi-Monopoly
Oligopoly
Market share
n/a
96% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Strong
Moat score
84 / 100
86 / 100
Moat domains
Demand, Supply, Financial
Demand, Network
Last update
2025-12-26
2025-12-29

Moat coverage

Shared moat types

Suite Bundling

Fortinet, Inc. strengths

Keystone ComponentScope EconomiesBenchmark Pricing PowerInstalled Base ConsumablesLong Term ContractsSwitching Costs General

WiseTech Global Limited strengths

Data Workflow LockinEcosystem ComplementsLegacy installed-base tailTwo Sided NetworkData Network Effects

Segment mix

Fortinet, Inc. segments

Full profile >

Secure Networking Products

Oligopoly

32%

Subscriptions & Support Services

Quasi-Monopoly

68%

WiseTech Global Limited segments

Full profile >

CargoWise

Oligopoly

87.6%

Non-CargoWise acquired platforms (legacy)

Competitive

12.4%

e2open (multi-enterprise supply chain applications & network; acquired)

Oligopoly

n/a

Want the full wide moat stocks list?

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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.