VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Keysight Technologies, Inc. vs Morningstar, Inc.

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

Keysight Technologies, Inc.

KEYS · New York Stock Exchange

Market cap (USD)$35.6B
Gross margin (TTM)62.1%
Operating margin (TTM)17.6%
Net margin (TTM)15.7%
SectorTechnology
IndustryHardware, Equipment & Parts
CountryUS
Data as of2026-01-01
Moat score
69/ 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 Keysight Technologies, Inc.'s moat claims, evidence, and risks.

View KEYS analysis

Morningstar, Inc.

MORN · NASDAQ

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
Industry
CountryUS
Data as of2026-01-10
Moat score
67/ 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 Morningstar, Inc.'s moat claims, evidence, and risks.

View MORN analysis

Comparison highlights

  • Moat score gap: Keysight Technologies, Inc. leads (69 / 100 vs 67 / 100 for Morningstar, Inc.).
  • Segment focus: Keysight Technologies, Inc. has 2 segments (69.3% in Communications Solutions Group (CSG)); Morningstar, Inc. has 7 segments (34.6% in Morningstar Data and Analytics).
  • Moat breadth: Keysight Technologies, Inc. has 6 moat types across 3 domains; Morningstar, Inc. has 6 across 3.

Primary market context

Keysight Technologies, Inc.

Communications Solutions Group (CSG)

Market

Electronic design, test, and measurement solutions for communications networks and aerospace/defense/government systems

Geography

Global

Customer

Commercial communications OEMs and operators; aerospace/defense primes and government contractors/agencies

Role

Test & measurement instrumentation OEM + software platform + services provider

Revenue share

69.3%

Morningstar, Inc.

Morningstar Data and Analytics

Market

Investment data, research, and analytics platforms

Geography

Global

Revenue share

34.6%

Side-by-side metrics

Keysight Technologies, Inc.
Morningstar, Inc.
Ticker / Exchange
KEYS - New York Stock Exchange
MORN - NASDAQ
Market cap (USD)
$35.6B
n/a
Gross margin (TTM)
62.1%
n/a
Operating margin (TTM)
17.6%
n/a
Net margin (TTM)
15.7%
n/a
Sector
Technology
Financials
Industry
Hardware, Equipment & Parts
n/a
HQ country
US
US
Primary segment
Communications Solutions Group (CSG)
Morningstar Data and Analytics
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
69 / 100
67 / 100
Moat domains
Demand, Supply, Network
Demand, Network, Legal
Last update
2026-01-01
2026-01-10

Moat coverage

Shared moat types

Data Workflow LockinDe Facto Standard

Keysight Technologies, Inc. strengths

Service Field NetworkDesign In QualificationLearning Curve YieldBrand Trust

Morningstar, Inc. strengths

Regulated Standards PipeSuite BundlingTraining Org Change CostsIP Choke Point

Segment mix

Keysight Technologies, Inc. segments

Full profile >

Communications Solutions Group (CSG)

Oligopoly

69.3%

Electronic Industrial Solutions Group (EISG)

Oligopoly

30.7%

Morningstar, Inc. segments

Full profile >

Morningstar Data and Analytics

Oligopoly

34.6%

PitchBook

Oligopoly

27.2%

Morningstar Credit

Oligopoly

12.8%

Morningstar Wealth

Competitive

10.9%

Morningstar Retirement

Competitive

5.6%

Morningstar Sustainalytics

Oligopoly

5.2%

Morningstar Indexes

Oligopoly

3.7%

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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Looking for expansion-stage stocks?

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.