VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 3, 2026

Stock Comparison

Intuitive Surgical, Inc. vs Novartis AG

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

Intuitive Surgical, Inc.

ISRG · NASDAQ

Market cap (USD)$199.5B
Gross margin (TTM)66.4%
Operating margin (TTM)29.3%
Net margin (TTM)28.6%
SectorHealthcare
IndustryMedical - Instruments & Supplies
CountryUS
Data as of2025-12-30
Moat score
83/ 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 Intuitive Surgical, Inc.'s moat claims, evidence, and risks.

View ISRG 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: Intuitive Surgical, Inc. leads (83 / 100 vs 65 / 100 for Novartis AG).
  • Segment focus: Intuitive Surgical, Inc. has 3 segments (60.8% in Instruments and Accessories); Novartis AG has 5 segments (29.3% in Oncology).
  • Primary market structure: Monopoly vs Oligopoly. Pricing power: Strong vs Strong.
  • Moat breadth: Intuitive Surgical, Inc. has 9 moat types across 4 domains; Novartis AG has 4 across 3.

Primary market context

Intuitive Surgical, Inc.

Instruments and Accessories

Market

Proprietary robotic surgery instruments, accessories, and consumables used per procedure on the da Vinci (and Ion) installed base

Geography

Global

Customer

Hospitals and surgery centers purchasing consumables; surgeons and OR teams as end users

Role

Consumables OEM within proprietary platform

Revenue share

60.8%

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

Intuitive Surgical, Inc.
Novartis AG
Ticker / Exchange
ISRG - NASDAQ
NOVN - SIX Swiss Exchange
Market cap (USD)
$199.5B
n/a
Gross margin (TTM)
66.4%
n/a
Operating margin (TTM)
29.3%
n/a
Net margin (TTM)
28.6%
n/a
Sector
Healthcare
Healthcare
Industry
Medical - Instruments & Supplies
n/a
HQ country
US
CH
Primary segment
Instruments and Accessories
Oncology
Market structure
Monopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Strong
Moat score
83 / 100
65 / 100
Moat domains
Supply, Demand, Network, Legal
Legal, Supply, Demand
Last update
2025-12-30
2026-01-02

Moat coverage

Shared moat types

Capex Knowhow ScaleIP Choke Point

Intuitive Surgical, Inc. strengths

Training Org Change CostsEcosystem ComplementsProcurement InertiaInstalled Base ConsumablesService Field NetworkData Workflow LockinLong Term Contracts

Novartis AG strengths

Regulated Standards PipeBrand Trust

Segment mix

Intuitive Surgical, Inc. segments

Full profile >

Systems

Quasi-Monopoly

23.5%

Instruments and Accessories

Monopoly

60.8%

Services

Monopoly

15.6%

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?

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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.