VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Thales S.A. vs Moncler S.p.A.

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)$51.4B
Gross margin (TTM)26.1%
Operating margin (TTM)9%
Net margin (TTM)5.1%
SectorIndustrials
IndustryAerospace & Defense
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

Moncler S.p.A.

MONC · Euronext Milan

Market cap (USD)$14.8B
Gross margin (TTM)76.4%
Operating margin (TTM)29.4%
Net margin (TTM)20.4%
SectorConsumer
IndustryApparel - Manufacturers
CountryIT
Data as of2026-01-05
Moat score
69/ 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 Moncler S.p.A.'s moat claims, evidence, and risks.

View MONC analysis

Comparison highlights

  • Moat score gap: Thales S.A. leads (73 / 100 vs 69 / 100 for Moncler S.p.A.).
  • Segment focus: Thales S.A. has 3 segments (53.3% in Defence); Moncler S.p.A. has 2 segments (87.1% in Moncler brand).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Strong.
  • Moat breadth: Thales S.A. has 8 moat types across 3 domains; Moncler S.p.A. has 3 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%

Moncler S.p.A.

Moncler brand

Market

Luxury outerwear and apparel (down jackets, ready-to-wear, accessories)

Geography

Global

Customer

Consumers

Role

Branded apparel company (design/marketing; DTC + wholesale distribution)

Revenue share

87.1%

Side-by-side metrics

Thales S.A.
Moncler S.p.A.
Ticker / Exchange
HO - Euronext Paris
MONC - Euronext Milan
Market cap (USD)
$51.4B
$14.8B
Gross margin (TTM)
26.1%
76.4%
Operating margin (TTM)
9%
29.4%
Net margin (TTM)
5.1%
20.4%
Sector
Industrials
Consumer
Industry
Aerospace & Defense
Apparel - Manufacturers
HQ country
FR
IT
Primary segment
Defence
Moncler brand
Market structure
Oligopoly
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
73 / 100
69 / 100
Moat domains
Legal, Demand, Supply
Demand, Supply, Legal
Last update
2025-12-28
2026-01-05

Moat coverage

Shared moat types

Brand Trust

Thales S.A. strengths

Government Contracting RelationshipsLong Term ContractsDesign In QualificationRegulated Standards PipeService Field NetworkSuite BundlingCapex Knowhow Scale

Moncler S.p.A. strengths

Distribution ControlIP Choke Point

Segment mix

Thales S.A. segments

Full profile >

Defence

Oligopoly

53.3%

Aerospace

Oligopoly

26.6%

Cyber & Digital

Competitive

19.6%

Moncler S.p.A. segments

Full profile >

Moncler brand

Competitive

87.1%

Stone Island brand

Competitive

12.9%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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Looking for expansion-stage stocks?

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.