VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

L3Harris Technologies, Inc. vs Thermo Fisher Scientific 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

Thermo Fisher Scientific Inc.

TMO · New York Stock Exchange

Market cap (USD)$224.1B
Gross margin (TTM)39.8%
Operating margin (TTM)18.2%
Net margin (TTM)15%
SectorHealthcare
IndustryMedical - Diagnostics & Research
CountryUS
Data as of2025-12-22
Moat score
64/ 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 Thermo Fisher Scientific Inc.'s moat claims, evidence, and risks.

View TMO analysis

Comparison highlights

  • Moat score gap: L3Harris Technologies, Inc. leads (72 / 100 vs 64 / 100 for Thermo Fisher Scientific Inc.).
  • Segment focus: L3Harris Technologies, Inc. has 4 segments (31.9% in Space & Airborne Systems); Thermo Fisher Scientific Inc. has 4 segments (53.6% in Laboratory Products and Biopharma Services).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: L3Harris Technologies, Inc. has 8 moat types across 3 domains; Thermo Fisher Scientific Inc. has 8 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%

Thermo Fisher Scientific Inc.

Laboratory Products and Biopharma Services

Market

Laboratory supplies distribution/market channel plus outsourced biopharma services (CDMO/CRO)

Geography

Global

Customer

Pharma & biotech; academic/government labs; industrial and clinical laboratories

Role

Distributor/market channel and outsourced services provider

Revenue share

53.6%

Side-by-side metrics

L3Harris Technologies, Inc.
Thermo Fisher Scientific Inc.
Ticker / Exchange
LHX - NYSE
TMO - New York Stock Exchange
Market cap (USD)
$55.9B
$224.1B
Gross margin (TTM)
n/a
39.8%
Operating margin (TTM)
n/a
18.2%
Net margin (TTM)
n/a
15%
Sector
Industrials
Healthcare
Industry
n/a
Medical - Diagnostics & Research
HQ country
US
US
Primary segment
Space & Airborne Systems
Laboratory Products and Biopharma Services
Market structure
Oligopoly
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
72 / 100
64 / 100
Moat domains
Legal, Demand, Supply
Demand, Supply, Legal
Last update
2026-01-02
2025-12-22

Moat coverage

Shared moat types

Procurement InertiaCapacity Moat

L3Harris Technologies, Inc. strengths

Government Contracting RelationshipsDesign In QualificationCompliance AdvantageSwitching Costs GeneralCapex Knowhow ScaleKeystone Component

Thermo Fisher Scientific Inc. strengths

Installed Base ConsumablesFormat Lock InBrand TrustService Field NetworkRegulated Standards PipeDistribution Control

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%

Thermo Fisher Scientific Inc. segments

Full profile >

Life Sciences Solutions

Oligopoly

19%

Analytical Instruments

Oligopoly

17%

Specialty Diagnostics

Oligopoly

10.4%

Laboratory Products and Biopharma Services

Competitive

53.6%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

View the moat stocks list

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.