VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Keysight Technologies, Inc. vs Shopify 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)$59.4B
Gross margin (TTM)61.9%
Operating margin (TTM)16%
Net margin (TTM)16.9%
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

Shopify Inc.

SHOP · Nasdaq Global Select Market

Market cap (USD)$163.7B
Gross margin (TTM)48.1%
Operating margin (TTM)12.7%
Net margin (TTM)10.7%
SectorTechnology
IndustrySoftware - Application
CountryCA
Data as of2026-04-25
Moat score
73/ 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 Shopify Inc.'s moat claims, evidence, and risks.

View SHOP analysis

Comparison highlights

  • Moat score gap: Shopify Inc. leads (73 / 100 vs 69 / 100 for Keysight Technologies, Inc.).
  • Segment focus: Keysight Technologies, Inc. has 2 segments (69.3% in Communications Solutions Group (CSG)); Shopify Inc. has 2 segments (76.2% in Merchant Solutions).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Keysight Technologies, Inc. has 6 moat types across 3 domains; Shopify Inc. has 7 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%

Shopify Inc.

Merchant Solutions

Market

Integrated merchant payments, checkout, lending, shipping, POS hardware, partner referrals, ads and buyer-acquisition services for Shopify merchants

Geography

Global, with Shopify Payments and related solutions available across selected countries

Customer

Shopify merchants, Shopify Plus merchants, retail operators and buyers using Shop Pay or Shop App

Role

Embedded payments, checkout, fintech, fulfillment-adjacent and commerce-services layer attached to Shopify storefronts

Revenue share

76.2%

Side-by-side metrics

Keysight Technologies, Inc.
Shopify Inc.
Ticker / Exchange
KEYS - New York Stock Exchange
SHOP - Nasdaq Global Select Market
Market cap (USD)
$59.4B
$163.7B
Gross margin (TTM)
61.9%
48.1%
Operating margin (TTM)
16%
12.7%
Net margin (TTM)
16.9%
10.7%
Sector
Technology
Technology
Industry
Hardware, Equipment & Parts
Software - Application
HQ country
US
CA
Primary segment
Communications Solutions Group (CSG)
Merchant Solutions
Market structure
Oligopoly
Competitive
Market share
n/a
65.6% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
69 / 100
73 / 100
Moat domains
Demand, Supply, Network
Network, Demand, Supply
Last update
2026-01-01
2026-04-25

Moat coverage

Shared moat types

Data Workflow LockinBrand Trust

Keysight Technologies, Inc. strengths

Service Field NetworkDesign In QualificationDe Facto StandardLearning Curve Yield

Shopify Inc. strengths

Ecosystem ComplementsSuite BundlingKeystone ComponentHabit DefaultScale Economies Unit Cost

Segment mix

Keysight Technologies, Inc. segments

Full profile >

Communications Solutions Group (CSG)

Oligopoly

69.3%

Electronic Industrial Solutions Group (EISG)

Oligopoly

30.7%

Shopify Inc. segments

Full profile >

Subscription Solutions

Competitive

23.8%

Merchant Solutions

Competitive

76.2%

Want the full wide moat stocks list?

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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.