VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

L3Harris Technologies, Inc. vs Marsh & McLennan Companies, Inc.

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

L3Harris Technologies, Inc.

LHX · NYSE

Market cap (USD)$55.9B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorIndustrials
Industry
CountryUS
Data as of2026-01-02
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 L3Harris Technologies, Inc.'s moat claims, evidence, and risks.

View LHX analysis

Marsh & McLennan Companies, Inc.

MMC · New York Stock Exchange

Market cap (USD)$90.4B
Gross margin (TTM)42.3%
Operating margin (TTM)23.2%
Net margin (TTM)15.6%
SectorFinancials
IndustryInsurance - Brokers
CountryUS
Data as of2025-12-31
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 Marsh & McLennan Companies, Inc.'s moat claims, evidence, and risks.

View MMC analysis

Comparison highlights

  • Moat score gap: L3Harris Technologies, Inc. leads (72 / 100 vs 65 / 100 for Marsh & McLennan Companies, Inc.).
  • Segment focus: L3Harris Technologies, Inc. has 4 segments (31.9% in Space & Airborne Systems); Marsh & McLennan Companies, Inc. has 2 segments (62.8% in Risk and Insurance Services).
  • Moat breadth: L3Harris Technologies, Inc. has 8 moat types across 3 domains; Marsh & McLennan Companies, Inc. has 5 across 3.

Primary market context

L3Harris Technologies, Inc.

Space & Airborne Systems

Market

Defense & intelligence space and airborne mission systems (payloads, sensors, avionics, mission networks)

Geography

Global (U.S.-centric demand)

Customer

Government defense/intelligence agencies, prime contractors, and allied governments

Role

Prime contractor / subsystem integrator

Revenue share

31.9%

Marsh & McLennan Companies, Inc.

Risk and Insurance Services

Market

Insurance brokerage, risk advisory, and reinsurance brokerage/services

Geography

Global

Customer

Enterprises, public entities, associations, and individuals (via broker/agent channels)

Role

Intermediary + advisor (insurance/reinsurance market intermediary)

Revenue share

62.8%

Side-by-side metrics

L3Harris Technologies, Inc.
Marsh & McLennan Companies, Inc.
Ticker / Exchange
LHX - NYSE
MMC - New York Stock Exchange
Market cap (USD)
$55.9B
$90.4B
Gross margin (TTM)
n/a
42.3%
Operating margin (TTM)
n/a
23.2%
Net margin (TTM)
n/a
15.6%
Sector
Industrials
Financials
Industry
n/a
Insurance - Brokers
HQ country
US
US
Primary segment
Space & Airborne Systems
Risk and Insurance Services
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
72 / 100
65 / 100
Moat domains
Legal, Demand, Supply
Supply, Demand, Legal
Last update
2026-01-02
2025-12-31

Moat coverage

Shared moat types

Compliance AdvantageSwitching Costs General

L3Harris Technologies, Inc. strengths

Government Contracting RelationshipsDesign In QualificationCapex Knowhow ScaleProcurement InertiaCapacity MoatKeystone Component

Marsh & McLennan Companies, Inc. strengths

Service Field NetworkBrand TrustData Workflow Lockin

Segment mix

L3Harris Technologies, Inc. segments

Full profile >

Space & Airborne Systems

Oligopoly

31.9%

Integrated Mission Systems

Oligopoly

31.8%

Communication Systems

Oligopoly

25.4%

Aerojet Rocketdyne

Duopoly

10.9%

Marsh & McLennan Companies, Inc. segments

Full profile >

Risk and Insurance Services

Oligopoly

62.8%

Consulting

Competitive

37.2%

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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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.