VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Friday, January 2, 2026

Stock Comparison

IDEXX Laboratories, Inc. vs Novartis AG

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

IDEXX Laboratories, Inc.

IDXX · NASDAQ

Market cap (USD)$53.3B
Gross margin (TTM)61.7%
Operating margin (TTM)31.3%
Net margin (TTM)24.7%
SectorHealthcare
IndustryMedical - Diagnostics & Research
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

Novartis AG

NOVN · SIX Swiss Exchange

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorHealthcare
Industry
CountryCH
Data as of2026-01-02
Moat score
65/ 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 Novartis AG's moat claims, evidence, and risks.

View NOVN analysis

Comparison highlights

  • Moat score gap: IDEXX Laboratories, Inc. leads (82 / 100 vs 65 / 100 for Novartis AG).
  • Segment focus: IDEXX Laboratories, Inc. has 4 segments (91.7% in Companion Animal Group); Novartis AG has 5 segments (29.3% in Oncology).
  • Moat breadth: IDEXX Laboratories, Inc. has 5 moat types across 3 domains; Novartis AG has 4 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%

Novartis AG

Oncology

Market

Oncology and hematology branded medicines (including targeted therapies and radioligand therapy)

Geography

Global

Customer

Oncologists and hospitals; reimbursed by payers; hospital and specialty pharmacy channels

Role

Originator developer, manufacturer, and marketer of oncology therapies

Revenue share

29.3%

Side-by-side metrics

IDEXX Laboratories, Inc.
Novartis AG
Ticker / Exchange
IDXX - NASDAQ
NOVN - SIX Swiss Exchange
Market cap (USD)
$53.3B
n/a
Gross margin (TTM)
61.7%
n/a
Operating margin (TTM)
31.3%
n/a
Net margin (TTM)
24.7%
n/a
Sector
Healthcare
Healthcare
Industry
Medical - Diagnostics & Research
n/a
HQ country
US
CH
Primary segment
Companion Animal Group
Oncology
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Strong
Moat score
82 / 100
65 / 100
Moat domains
Demand, Supply, Legal
Legal, Supply, Demand
Last update
2025-12-31
2026-01-02

Moat coverage

Shared moat types

Regulated Standards Pipe

IDEXX Laboratories, Inc. strengths

Installed Base ConsumablesData Workflow LockinPhysical Network DensityCompliance Advantage

Novartis AG strengths

IP Choke PointCapex Knowhow ScaleBrand Trust

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%

Novartis AG segments

Full profile >

Cardiovascular, Renal and Metabolic

Oligopoly

17%

Immunology

Oligopoly

18.5%

Neuroscience

Oligopoly

9.4%

Oncology

Oligopoly

29.3%

Established Brands

Competitive

25.8%

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.