VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Thales S.A. vs REA Group Ltd

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)$54.6B
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

REA Group Ltd

REA · ASX

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorCommunication Services
Industry
CountryAU
Data as of2026-01-09
Moat score
91/ 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 REA Group Ltd's moat claims, evidence, and risks.

View REA analysis

Comparison highlights

  • Moat score gap: REA Group Ltd leads (91 / 100 vs 73 / 100 for Thales S.A.).
  • Segment focus: Thales S.A. has 3 segments (53.3% in Defence); REA Group Ltd has 3 segments (87.5% in Australia - Property & Online Advertising).
  • Primary market structure: Oligopoly vs Duopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Thales S.A. has 8 moat types across 3 domains; REA Group Ltd has 6 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%

REA Group Ltd

Australia - Property & Online Advertising

Market

Australian online property classifieds & digital real estate advertising (residential + commercial listings)

Geography

Australia

Customer

Real estate agents/agencies and developers (advertisers) + property seekers (consumers)

Role

Marketplace operator / media & advertising platform

Revenue share

87.5%

Side-by-side metrics

Thales S.A.
REA Group Ltd
Ticker / Exchange
HO - Euronext Paris
REA - ASX
Market cap (USD)
$54.6B
n/a
Gross margin (TTM)
26.1%
n/a
Operating margin (TTM)
9%
n/a
Net margin (TTM)
5.1%
n/a
Sector
Industrials
Communication Services
Industry
Aerospace & Defense
n/a
HQ country
FR
AU
Primary segment
Defence
Australia - Property & Online Advertising
Market structure
Oligopoly
Duopoly
Market share
n/a
78%-82% (implied)
HHI estimate
n/a
6,800
Pricing power
Moderate
Strong
Moat score
73 / 100
91 / 100
Moat domains
Legal, Demand, Supply
Network, Demand, Supply
Last update
2025-12-28
2026-01-09

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

REA Group Ltd strengths

Two Sided NetworkData Network EffectsData Workflow LockinDistribution ControlHabit Default

Segment mix

Thales S.A. segments

Full profile >

Defence

Oligopoly

53.3%

Aerospace

Oligopoly

26.6%

Cyber & Digital

Competitive

19.6%

REA Group Ltd segments

Full profile >

Australia - Property & Online Advertising

Duopoly

87.5%

Australia - Financial Services

Competitive

4.8%

India - Online Property Classifieds

Oligopoly

7.7%

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.