VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Monday, December 29, 2025

Stock Comparison

Thales S.A. vs Novo Nordisk A/S

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

Novo Nordisk A/S

NOVOB · Nasdaq Copenhagen

Market cap (USD)$232.3B
SectorHealthcare
CountryDK
Data as of2025-12-28
Moat score
85/ 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 Novo Nordisk A/S's moat claims, evidence, and risks.

View NOVOB analysis

Comparison highlights

  • Moat score gap: Novo Nordisk A/S leads (85 / 100 vs 73 / 100 for Thales S.A.).
  • Segment focus: Thales S.A. has 3 segments (53.3% in Defence); Novo Nordisk A/S has 3 segments (71.1% in Diabetes care).
  • Moat breadth: Thales S.A. has 8 moat types across 3 domains; Novo Nordisk A/S 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%

Novo Nordisk A/S

Diabetes care

Market

Diabetes pharmaceuticals (GLP-1 for type 2 diabetes, insulin, and related therapies)

Geography

Global

Customer

Payers/providers and patients (via wholesalers/pharmacies/hospitals)

Role

Originator pharma (R&D, regulatory, manufacturing, commercialization)

Revenue share

71.1%

Side-by-side metrics

Thales S.A.
Novo Nordisk A/S
Ticker / Exchange
HO - Euronext Paris
NOVOB - Nasdaq Copenhagen
Market cap (USD)
$55.3B
$232.3B
Sector
Industrials
Healthcare
HQ country
FR
DK
Primary segment
Defence
Diabetes care
Market structure
Oligopoly
Oligopoly
Market share
n/a
33.7% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
73 / 100
85 / 100
Moat domains
Legal, Demand, Supply
Legal, Supply, Demand
Last update
2025-12-28
2025-12-28

Moat coverage

Shared moat types

Regulated Standards PipeBrand Trust

Thales S.A. strengths

Government Contracting RelationshipsLong Term ContractsDesign In QualificationService Field NetworkSuite BundlingCapex Knowhow Scale

Novo Nordisk A/S strengths

IP Choke PointCapacity MoatLearning Curve Yield

Segment mix

Thales S.A. segments

Full profile >

Defence

Oligopoly

53.3%

Aerospace

Oligopoly

26.6%

Cyber & Digital

Competitive

19.6%

Novo Nordisk A/S segments

Full profile >

Diabetes care

Oligopoly

71.1%

Obesity care

Duopoly

22.4%

Rare disease

Oligopoly

6.4%

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.