VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Tuesday, December 30, 2025

Stock Comparison

Thales S.A. vs Lockheed Martin Corporation

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

Thales S.A.

HO · Euronext Paris

Market cap (USD)$55.3B
SectorIndustrials
CountryFR
Data as of2025-12-28
Moat score
73/ 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 Thales S.A.'s moat claims, evidence, and risks.

View HO analysis

Lockheed Martin Corporation

LMT · New York Stock Exchange

Market cap (USD)$111.8B
SectorIndustrials
CountryUS
Data as of2025-12-29
Moat score
81/ 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 Lockheed Martin Corporation's moat claims, evidence, and risks.

View LMT analysis

Comparison highlights

  • Moat score gap: Lockheed Martin Corporation leads (81 / 100 vs 73 / 100 for Thales S.A.).
  • Segment focus: Thales S.A. has 3 segments (53.3% in Defence); Lockheed Martin Corporation has 4 segments (40.3% in Aeronautics).
  • Moat breadth: Thales S.A. has 8 moat types across 3 domains; Lockheed Martin Corporation has 5 across 3.

Primary market context

Thales S.A.

Defence

Market

Defense electronics, secure communications, and mission systems

Geography

Global

Customer

Government / defence ministries, armed forces, security forces

Role

Prime contractor and system integrator; OEM of defence electronics

Revenue share

53.3%

Lockheed Martin Corporation

Aeronautics

Market

Military fixed-wing aircraft (fighters and air mobility) plus sustainment and upgrades

Geography

Global (primarily U.S. and allied governments)

Customer

Defense ministries and armed services (direct and via foreign military sales)

Role

Prime contractor / OEM / systems integrator

Revenue share

40.3%

Side-by-side metrics

Thales S.A.
Lockheed Martin Corporation
Ticker / Exchange
HO - Euronext Paris
LMT - New York Stock Exchange
Market cap (USD)
$55.3B
$111.8B
Sector
Industrials
Industrials
HQ country
FR
US
Primary segment
Defence
Aeronautics
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
73 / 100
81 / 100
Moat domains
Legal, Demand, Supply
Demand, Supply, Legal
Last update
2025-12-28
2025-12-29

Moat coverage

Shared moat types

Government Contracting RelationshipsDesign In QualificationService Field Network

Thales S.A. strengths

Long Term ContractsRegulated Standards PipeBrand TrustSuite BundlingCapex Knowhow Scale

Lockheed Martin Corporation strengths

Capacity MoatCompliance Advantage

Segment mix

Thales S.A. segments

Full profile >

Defence

Oligopoly

53.3%

Aerospace

Oligopoly

26.6%

Cyber & Digital

Competitive

19.6%

Lockheed Martin Corporation segments

Full profile >

Aeronautics

Oligopoly

40.3%

Missiles and Fire Control

Oligopoly

17.9%

Rotary and Mission Systems

Oligopoly

24.3%

Space

Oligopoly

17.6%

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.