VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Thales S.A. vs Safran

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)$54.3B
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

Safran

SAF · Euronext Paris

Market cap (USD)$144.3B
Gross margin (TTM)30.5%
Operating margin (TTM)14.2%
Net margin (TTM)11.1%
SectorIndustrials
IndustryAerospace & Defense
CountryFR
Data as of2025-12-28
Moat score
74/ 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 Safran's moat claims, evidence, and risks.

View SAF analysis

Comparison highlights

  • Moat score gap: Safran leads (74 / 100 vs 73 / 100 for Thales S.A.).
  • Segment focus: Thales S.A. has 3 segments (53.3% in Defence); Safran has 3 segments (50% in Propulsion).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Thales S.A. has 8 moat types across 3 domains; Safran has 8 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%

Safran

Propulsion

Market

Aircraft propulsion (commercial, military and helicopter engines) and engine aftermarket (spares, MRO, RPFH)

Geography

Global

Customer

Aircraft OEMs, airlines/lessors, MRO operators, and militaries

Role

Engine OEM + aftermarket service provider (incl. CFM JV participation)

Revenue share

50%

Side-by-side metrics

Thales S.A.
Safran
Ticker / Exchange
HO - Euronext Paris
SAF - Euronext Paris
Market cap (USD)
$54.3B
$144.3B
Gross margin (TTM)
26.1%
30.5%
Operating margin (TTM)
9%
14.2%
Net margin (TTM)
5.1%
11.1%
Sector
Industrials
Industrials
Industry
Aerospace & Defense
Aerospace & Defense
HQ country
FR
FR
Primary segment
Defence
Propulsion
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
73 / 100
74 / 100
Moat domains
Legal, Demand, Supply
Demand, Supply, Legal
Last update
2025-12-28
2025-12-28

Moat coverage

Shared moat types

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

Thales S.A. strengths

Brand TrustSuite Bundling

Safran strengths

Installed Base ConsumablesOperational Excellence

Segment mix

Thales S.A. segments

Full profile >

Defence

Oligopoly

53.3%

Aerospace

Oligopoly

26.6%

Cyber & Digital

Competitive

19.6%

Safran segments

Full profile >

Propulsion

Oligopoly

50%

Equipment & Defense

Oligopoly

38.9%

Aircraft Interiors

Competitive

11.1%

Want the full wide moat stocks list?

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

View the moat stocks list

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.