VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Illinois Tool Works Inc. vs Novartis AG

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

Illinois Tool Works Inc.

ITW · New York Stock Exchange

Market cap (USD)$73B
Gross margin (TTM)43.6%
Operating margin (TTM)26.2%
Net margin (TTM)19.1%
SectorIndustrials
IndustryIndustrial - Machinery
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

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: Illinois Tool Works Inc. leads (66 / 100 vs 65 / 100 for Novartis AG).
  • Segment focus: Illinois Tool Works Inc. has 7 segments (20% in Automotive OEM); Novartis AG has 5 segments (29.3% in Oncology).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Illinois Tool Works Inc. has 8 moat types across 3 domains; Novartis AG has 4 across 3.

Primary market context

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%

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

Illinois Tool Works Inc.
Novartis AG
Ticker / Exchange
ITW - New York Stock Exchange
NOVN - SIX Swiss Exchange
Market cap (USD)
$73B
n/a
Gross margin (TTM)
43.6%
n/a
Operating margin (TTM)
26.2%
n/a
Net margin (TTM)
19.1%
n/a
Sector
Industrials
Healthcare
Industry
Industrial - Machinery
n/a
HQ country
US
CH
Primary segment
Automotive OEM
Oncology
Market structure
Competitive
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
66 / 100
65 / 100
Moat domains
Demand, Supply, Legal
Legal, Supply, Demand
Last update
2025-12-31
2026-01-02

Moat coverage

Shared moat types

Brand TrustIP Choke Point

Illinois Tool Works Inc. strengths

Design In QualificationOperational ExcellenceService Field NetworkInstalled Base ConsumablesSwitching Costs GeneralFormulation and application engineering know-how

Novartis AG strengths

Regulated Standards PipeCapex Knowhow Scale

Segment mix

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%

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.