VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Thales S.A. vs Netflix, Inc.

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

Netflix, Inc.

NFLX · NASDAQ

Market cap (USD)$387.5B
Gross margin (TTM)48.1%
Operating margin (TTM)29.1%
Net margin (TTM)24.1%
SectorCommunication Services
IndustryEntertainment
CountryUS
Data as of2026-01-05
Moat score
65/ 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 Netflix, Inc.'s moat claims, evidence, and risks.

View NFLX analysis

Comparison highlights

  • Moat score gap: Thales S.A. leads (73 / 100 vs 65 / 100 for Netflix, Inc.).
  • Segment focus: Thales S.A. has 3 segments (53.3% in Defence); Netflix, Inc. has 1 segment (100% in Streaming entertainment platform).
  • Moat breadth: Thales S.A. has 8 moat types across 3 domains; Netflix, Inc. has 5 across 4.

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%

Netflix, Inc.

Streaming entertainment platform

Market

Paid streaming video entertainment (SVOD/AVOD)

Geography

Global

Customer

Consumers (B2C); advertisers via ad-supported inventory

Role

Streaming platform operator; content producer/licensor

Revenue share

100%

Side-by-side metrics

Thales S.A.
Netflix, Inc.
Ticker / Exchange
HO - Euronext Paris
NFLX - NASDAQ
Market cap (USD)
$51.4B
$387.5B
Gross margin (TTM)
26.1%
48.1%
Operating margin (TTM)
9%
29.1%
Net margin (TTM)
5.1%
24.1%
Sector
Industrials
Communication Services
Industry
Aerospace & Defense
Entertainment
HQ country
FR
US
Primary segment
Defence
Streaming entertainment platform
Market structure
Oligopoly
Oligopoly
Market share
n/a
8.2%-8.4% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
73 / 100
65 / 100
Moat domains
Legal, Demand, Supply
Network, Supply, Legal, Financial
Last update
2025-12-28
2026-01-05

Moat coverage

Shared moat types

No overlap yet.

Thales S.A. strengths

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

Netflix, Inc. strengths

Data Network EffectsScale Economies Unit CostContent Rights CurrencyPhysical Network DensityFloat Prepayment

Segment mix

Thales S.A. segments

Full profile >

Defence

Oligopoly

53.3%

Aerospace

Oligopoly

26.6%

Cyber & Digital

Competitive

19.6%

Netflix, Inc. segments

Full profile >

Streaming entertainment platform

Oligopoly

100%

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.