VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Games Workshop Group PLC vs UnitedHealth Group Incorporated

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

Games Workshop Group PLC

GAW · London Stock Exchange

Market cap (USD)$6.2B
Gross margin (TTM)71.9%
Operating margin (TTM)41%
Net margin (TTM)30.4%
SectorConsumer
IndustryLeisure
CountryGB
Data as of2026-01-05
Moat score
87/ 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 Games Workshop Group PLC's moat claims, evidence, and risks.

View GAW analysis

UnitedHealth Group Incorporated

UNH · New York Stock Exchange

Market cap (USD)$309.8B
Gross margin (TTM)19.7%
Operating margin (TTM)6.1%
Net margin (TTM)4%
SectorHealthcare
IndustryMedical - Healthcare Plans
CountryUS
Data as of2025-12-31
Moat score
64/ 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 UnitedHealth Group Incorporated's moat claims, evidence, and risks.

View UNH analysis

Comparison highlights

  • Moat score gap: Games Workshop Group PLC leads (87 / 100 vs 64 / 100 for UnitedHealth Group Incorporated).
  • Segment focus: Games Workshop Group PLC has 2 segments (91.5% in Core (Warhammer miniatures & hobby products)); UnitedHealth Group Incorporated has 4 segments (74.9% in UnitedHealthcare).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Weak.
  • Moat breadth: Games Workshop Group PLC has 8 moat types across 4 domains; UnitedHealth Group Incorporated has 5 across 2.

Primary market context

Games Workshop Group PLC

Core (Warhammer miniatures & hobby products)

Market

Tabletop miniature wargaming and related hobby products

Geography

Global

Customer

Hobbyists/collectors (B2C) plus independent retailers (B2B)

Role

IP owner + designer/manufacturer + distributor + direct-to-consumer retail

Revenue share

91.5%

UnitedHealth Group Incorporated

UnitedHealthcare

Market

U.S. health benefits / managed care (commercial, Medicare Advantage, Medicaid managed care)

Geography

United States (primarily)

Customer

Employers, individuals, and government-sponsored programs

Role

Health insurer / managed care organization

Revenue share

74.9%

Side-by-side metrics

Games Workshop Group PLC
UnitedHealth Group Incorporated
Ticker / Exchange
GAW - London Stock Exchange
UNH - New York Stock Exchange
Market cap (USD)
$6.2B
$309.8B
Gross margin (TTM)
71.9%
19.7%
Operating margin (TTM)
41%
6.1%
Net margin (TTM)
30.4%
4%
Sector
Consumer
Healthcare
Industry
Leisure
Medical - Healthcare Plans
HQ country
GB
US
Primary segment
Core (Warhammer miniatures & hobby products)
UnitedHealthcare
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Weak
Moat score
87 / 100
64 / 100
Moat domains
Legal, Demand, Network, Supply
Supply, Demand
Last update
2026-01-05
2025-12-31

Moat coverage

Shared moat types

No overlap yet.

Games Workshop Group PLC strengths

IP Choke PointBrand TrustEcosystem ComplementsService Field NetworkSupply Chain ControlInstalled Base ConsumablesContent Rights CurrencyLong Term Contracts

UnitedHealth Group Incorporated strengths

Scale Economies Unit CostSuite BundlingOperational ExcellenceData Workflow LockinTraining Org Change Costs

Segment mix

Games Workshop Group PLC segments

Full profile >

Core (Warhammer miniatures & hobby products)

Oligopoly

91.5%

Licensing (Warhammer IP)

Monopoly

8.5%

UnitedHealth Group Incorporated segments

Full profile >

UnitedHealthcare

Oligopoly

74.9%

Optum Health

Competitive

9.9%

Optum Insight

Competitive

1.7%

Optum Rx

Oligopoly

13.5%

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.