VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 3, 2026

Stock Comparison

Lockheed Martin Corporation vs Xero Limited

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

Lockheed Martin Corporation

LMT · New York Stock Exchange

Market cap (USD)$115.3B
Gross margin (TTM)8.2%
Operating margin (TTM)8.3%
Net margin (TTM)5.7%
SectorIndustrials
IndustryAerospace & Defense
CountryUS
Data as of2025-12-29
Moat score
81/ 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 Lockheed Martin Corporation's moat claims, evidence, and risks.

View LMT analysis

Xero Limited

XRO · Australian Securities Exchange

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorTechnology
Industry
CountryNZ
Data as of2026-01-02
Moat score
71/ 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 Xero Limited's moat claims, evidence, and risks.

View XRO analysis

Comparison highlights

  • Moat score gap: Lockheed Martin Corporation leads (81 / 100 vs 71 / 100 for Xero Limited).
  • Segment focus: Lockheed Martin Corporation has 4 segments (40.3% in Aeronautics); Xero Limited has 2 segments.
  • Moat breadth: Lockheed Martin Corporation has 5 moat types across 3 domains; Xero Limited has 7 across 3.

Primary market context

Lockheed Martin Corporation

Aeronautics

Market

Military fixed-wing aircraft (fighters and air mobility) plus sustainment and upgrades

Geography

Global (primarily U.S. and allied governments)

Customer

Defense ministries and armed services (direct and via foreign military sales)

Role

Prime contractor / OEM / systems integrator

Revenue share

40.3%

Xero Limited

Core Accounting Subscription Platform

Market

Cloud accounting software for small businesses and their advisors

Geography

Global

Customer

SMB; accountants & bookkeepers

Role

Software platform (SaaS)

Side-by-side metrics

Lockheed Martin Corporation
Xero Limited
Ticker / Exchange
LMT - New York Stock Exchange
XRO - Australian Securities Exchange
Market cap (USD)
$115.3B
n/a
Gross margin (TTM)
8.2%
n/a
Operating margin (TTM)
8.3%
n/a
Net margin (TTM)
5.7%
n/a
Sector
Industrials
Technology
Industry
Aerospace & Defense
n/a
HQ country
US
NZ
Primary segment
Aeronautics
Core Accounting Subscription Platform
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
81 / 100
71 / 100
Moat domains
Demand, Supply, Legal
Demand, Network, Financial
Last update
2025-12-29
2026-01-02

Moat coverage

Shared moat types

No overlap yet.

Lockheed Martin Corporation strengths

Design In QualificationService Field NetworkGovernment Contracting RelationshipsCapacity MoatCompliance Advantage

Xero Limited strengths

Data Workflow LockinSwitching Costs GeneralTwo Sided NetworkBenchmark Pricing PowerInteroperability HubEcosystem ComplementsSuite Bundling

Segment mix

Lockheed Martin Corporation segments

Full profile >

Aeronautics

Oligopoly

40.3%

Missiles and Fire Control

Oligopoly

17.9%

Rotary and Mission Systems

Oligopoly

24.3%

Space

Oligopoly

17.6%

Xero Limited segments

Full profile >

Core Accounting Subscription Platform

Oligopoly

n/a

Platform Services (Payments, Payroll, App Ecosystem)

Competitive

n/a

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.