VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Eli Lilly and Company vs Marsh & McLennan Companies, Inc.

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

Eli Lilly and Company

LLY · New York Stock Exchange

Market cap (USD)$935.6B
Gross margin (TTM)83%
Operating margin (TTM)43.9%
Net margin (TTM)31%
SectorHealthcare
IndustryDrug Manufacturers - General
CountryUS
Data as of2026-01-05
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 Eli Lilly and Company's moat claims, evidence, and risks.

View LLY analysis

Marsh & McLennan Companies, Inc.

MMC · New York Stock Exchange

Market cap (USD)$92.2B
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: Eli Lilly and Company leads (66 / 100 vs 65 / 100 for Marsh & McLennan Companies, Inc.).
  • Segment focus: Eli Lilly and Company has 5 segments (65.5% in Cardiometabolic Health); Marsh & McLennan Companies, Inc. has 2 segments (62.8% in Risk and Insurance Services).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Eli Lilly and Company has 5 moat types across 2 domains; Marsh & McLennan Companies, Inc. has 5 across 3.

Primary market context

Eli Lilly and Company

Cardiometabolic Health

Market

Branded cardiometabolic pharmaceuticals (type 2 diabetes, obesity, and related metabolic/cardiovascular conditions; especially incretin therapies)

Geography

Global

Customer

Patients via prescribers; payers/PBMs; wholesaler & pharmacy channels

Role

Drug developer, manufacturer, and marketer

Revenue share

65.5%

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

Eli Lilly and Company
Marsh & McLennan Companies, Inc.
Ticker / Exchange
LLY - New York Stock Exchange
MMC - New York Stock Exchange
Market cap (USD)
$935.6B
$92.2B
Gross margin (TTM)
83%
42.3%
Operating margin (TTM)
43.9%
23.2%
Net margin (TTM)
31%
15.6%
Sector
Healthcare
Financials
Industry
Drug Manufacturers - General
Insurance - Brokers
HQ country
US
US
Primary segment
Cardiometabolic Health
Risk and Insurance Services
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
66 / 100
65 / 100
Moat domains
Legal, Supply
Supply, Demand, Legal
Last update
2026-01-05
2025-12-31

Moat coverage

Shared moat types

Compliance Advantage

Eli Lilly and Company strengths

IP Choke PointCapacity MoatLearning Curve YieldOperational Excellence

Marsh & McLennan Companies, Inc. strengths

Service Field NetworkBrand TrustSwitching Costs GeneralData Workflow Lockin

Segment mix

Eli Lilly and Company segments

Full profile >

Cardiometabolic Health

Oligopoly

65.5%

Oncology

Competitive

19.4%

Immunology

Competitive

9.8%

Neuroscience

Competitive

3.3%

Other

Competitive

2%

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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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.