VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

IDEX Corporation vs Watsco, Inc.

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

IDEX Corporation

IEX · New York Stock Exchange

Market cap (USD)$13.6B
Gross margin (TTM)43.5%
Operating margin (TTM)20.7%
Net margin (TTM)14%
SectorIndustrials
IndustryIndustrial - Machinery
CountryUS
Data as of2025-12-23
Moat score
58/ 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 IDEX Corporation's moat claims, evidence, and risks.

View IEX analysis

Watsco, Inc.

WSO · New York Stock Exchange

Market cap (USD)$14.4B
Gross margin (TTM)28.3%
Operating margin (TTM)10.2%
Net margin (TTM)7.4%
SectorIndustrials
IndustryIndustrial - Distribution
CountryUS
Data as of2026-01-05
Moat score
72/ 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 Watsco, Inc.'s moat claims, evidence, and risks.

View WSO analysis

Comparison highlights

  • Moat score gap: Watsco, Inc. leads (72 / 100 vs 58 / 100 for IDEX Corporation).
  • Segment focus: IDEX Corporation has 3 segments (39.6% in Health & Science Technologies (HST)); Watsco, Inc. has 1 segment (100% in HVAC/R Distribution).
  • Moat breadth: IDEX Corporation has 7 moat types across 3 domains; Watsco, Inc. has 4 across 3.

Primary market context

IDEX Corporation

Health & Science Technologies (HST)

Market

Precision fluidics, optics/photonics, microfluidics, sealing solutions, pneumatic components, and process technologies for life science/diagnostics, semiconductor, aerospace/defense, and industrial markets

Geography

Global

Customer

Life science & diagnostic instrument OEMs, semiconductor/industrial OEMs, specialty industrial customers

Role

Component/subsystem supplier and specialty equipment provider

Revenue share

39.6%

Watsco, Inc.

HVAC/R Distribution

Market

HVAC/R equipment, parts and supplies distribution

Geography

North America (U.S., Canada, Mexico, Puerto Rico; export to Latin America/Caribbean)

Customer

Licensed HVAC and refrigeration contractors (residential & commercial)

Role

Wholesale distributor

Revenue share

100%

Side-by-side metrics

IDEX Corporation
Watsco, Inc.
Ticker / Exchange
IEX - New York Stock Exchange
WSO - New York Stock Exchange
Market cap (USD)
$13.6B
$14.4B
Gross margin (TTM)
43.5%
28.3%
Operating margin (TTM)
20.7%
10.2%
Net margin (TTM)
14%
7.4%
Sector
Industrials
Industrials
Industry
Industrial - Machinery
Industrial - Distribution
HQ country
US
US
Primary segment
Health & Science Technologies (HST)
HVAC/R Distribution
Market structure
Competitive
Competitive
Market share
n/a
9%-12% (implied)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
58 / 100
72 / 100
Moat domains
Demand, Supply, Legal
Supply, Legal, Demand
Last update
2025-12-23
2026-01-05

Moat coverage

Shared moat types

Data Workflow Lockin

IDEX Corporation strengths

Design In QualificationInstalled Base ConsumablesLearning Curve YieldIP Choke PointBrand TrustProcurement Inertia

Watsco, Inc. strengths

Physical Network DensityContractual ExclusivityScale Economies Unit Cost

Segment mix

IDEX Corporation segments

Full profile >

Fluid & Metering Technologies (FMT)

Competitive

37.7%

Health & Science Technologies (HST)

Competitive

39.6%

Fire & Safety/Diversified Products (FSDP)

Competitive

22.7%

Watsco, Inc. segments

Full profile >

HVAC/R Distribution

Competitive

100%

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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.