VOL. XCIV, NO. 247

* WIDE MOAT STOCKS COMPARISON *

NO ADVICE

Monday, December 29, 2025

Stock Comparison

Thales S.A. vs Rheinmetall Aktiengesellschaft

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

Rheinmetall Aktiengesellschaft

RHM · Xetra

Market cap (USD)$83.3B
SectorIndustrials
CountryDE
Data as of2025-12-28
Moat score
71/ 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 Rheinmetall Aktiengesellschaft's moat claims, evidence, and risks.

View RHM analysis

Comparison highlights

  • Moat score gap: Thales S.A. leads (73 / 100 vs 71 / 100 for Rheinmetall Aktiengesellschaft).
  • Segment focus: Thales S.A. has 3 segments (53.3% in Defence); Rheinmetall Aktiengesellschaft has 4 segments (36.7% in Vehicle Systems).
  • Moat breadth: Thales S.A. has 8 moat types across 3 domains; Rheinmetall Aktiengesellschaft 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%

Rheinmetall Aktiengesellschaft

Vehicle Systems

Market

Armored and tactical wheeled/tracked military vehicles

Geography

Global (Europe/NATO weighted)

Customer

Government / military

Revenue share

36.7%

Side-by-side metrics

Thales S.A.
Rheinmetall Aktiengesellschaft
Ticker / Exchange
HO - Euronext Paris
RHM - Xetra
Market cap (USD)
$55.3B
$83.3B
Sector
Industrials
Industrials
HQ country
FR
DE
Primary segment
Defence
Vehicle Systems
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
73 / 100
71 / 100
Moat domains
Legal, Demand, Supply
Legal, Demand, Supply
Last update
2025-12-28
2025-12-28

Moat coverage

Shared moat types

Government Contracting RelationshipsLong Term ContractsDesign In Qualification

Thales S.A. strengths

Regulated Standards PipeService Field NetworkBrand TrustSuite BundlingCapex Knowhow Scale

Rheinmetall Aktiengesellschaft strengths

Capacity MoatSupply Chain ControlDistribution Control

Segment mix

Thales S.A. segments

Full profile >

Defence

Oligopoly

53.3%

Aerospace

Oligopoly

26.6%

Cyber & Digital

Competitive

19.6%

Rheinmetall Aktiengesellschaft segments

Full profile >

Vehicle Systems

Oligopoly

36.7%

Weapon and Ammunition

Oligopoly

26.9%

Electronic Solutions

Oligopoly

16.7%

Power Systems (civilian; planned divestiture)

Competitive

19.7%

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.