VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 1, 2026

Stock Comparison

IDEXX Laboratories, Inc. vs Illinois Tool Works Inc.

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

IDEXX Laboratories, Inc.

IDXX · NASDAQ

Market cap (USD)$54.9B
SectorHealthcare
CountryUS
Data as of2025-12-31
Moat score
82/ 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 IDEXX Laboratories, Inc.'s moat claims, evidence, and risks.

View IDXX analysis

Illinois Tool Works Inc.

ITW · New York Stock Exchange

Market cap (USD)
SectorIndustrials
CountryUS
Data as of2025-12-31
Moat score
66/ 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 Illinois Tool Works Inc.'s moat claims, evidence, and risks.

View ITW analysis

Comparison highlights

  • Moat score gap: IDEXX Laboratories, Inc. leads (82 / 100 vs 66 / 100 for Illinois Tool Works Inc.).
  • Segment focus: IDEXX Laboratories, Inc. has 4 segments (91.7% in Companion Animal Group); Illinois Tool Works Inc. has 7 segments (20% in Automotive OEM).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Strong vs Moderate.
  • Moat breadth: IDEXX Laboratories, Inc. has 5 moat types across 3 domains; Illinois Tool Works Inc. has 8 across 3.

Primary market context

IDEXX Laboratories, Inc.

Companion Animal Group

Market

Veterinary diagnostics and practice management software for companion animals

Geography

Global

Customer

Veterinary practices, corporate veterinary groups, and reference laboratories

Role

Diagnostics platform owner (in-clinic instruments + consumables) and reference lab/service provider; practice management software provider

Revenue share

91.7%

Illinois Tool Works Inc.

Automotive OEM

Market

Automotive OEM engineered components and fasteners

Geography

Global

Customer

Automotive OEMs and Tier suppliers

Role

Component supplier

Revenue share

20%

Side-by-side metrics

IDEXX Laboratories, Inc.
Illinois Tool Works Inc.
Ticker / Exchange
IDXX - NASDAQ
ITW - New York Stock Exchange
Market cap (USD)
$54.9B
n/a
Sector
Healthcare
Industrials
HQ country
US
US
Primary segment
Companion Animal Group
Automotive OEM
Market structure
Oligopoly
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
82 / 100
66 / 100
Moat domains
Demand, Supply, Legal
Demand, Supply, Legal
Last update
2025-12-31
2025-12-31

Moat coverage

Shared moat types

Installed Base Consumables

IDEXX Laboratories, Inc. strengths

Data Workflow LockinPhysical Network DensityRegulated Standards PipeCompliance Advantage

Illinois Tool Works Inc. strengths

Design In QualificationOperational ExcellenceBrand TrustService Field NetworkSwitching Costs GeneralFormulation and application engineering know-howIP Choke Point

Segment mix

IDEXX Laboratories, Inc. segments

Full profile >

Companion Animal Group

Oligopoly

91.7%

Water Quality Products

Oligopoly

4.7%

Livestock, Poultry and Dairy

Competitive

3.1%

Other (OPTI Medical and out-licensing)

Competitive

0.4%

Illinois Tool Works Inc. segments

Full profile >

Automotive OEM

Competitive

20%

Food Equipment

Oligopoly

16.6%

Test & Measurement and Electronics

Oligopoly

17.7%

Welding

Oligopoly

11.6%

Polymers & Fluids

Competitive

11.1%

Construction Products

Competitive

12%

Specialty Products

Oligopoly

10.9%

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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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.