VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Monday, December 29, 2025

Stock Comparison

LPL Financial Holdings Inc. vs Novo Nordisk A/S

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

LPL Financial Holdings Inc.

LPLA · Nasdaq

Market cap (USD)$29.9B
SectorFinancials
CountryUS
Data as of2025-12-26
Moat score
79/ 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 LPL Financial Holdings Inc.'s moat claims, evidence, and risks.

View LPLA analysis

Novo Nordisk A/S

NOVOB · Nasdaq Copenhagen

Market cap (USD)$232.3B
SectorHealthcare
CountryDK
Data as of2025-12-28
Moat score
85/ 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 Novo Nordisk A/S's moat claims, evidence, and risks.

View NOVOB analysis

Comparison highlights

  • Moat score gap: Novo Nordisk A/S leads (85 / 100 vs 79 / 100 for LPL Financial Holdings Inc.).
  • Segment focus: LPL Financial Holdings Inc. has 1 segment (100% in Advisor Platform); Novo Nordisk A/S has 3 segments (71.1% in Diabetes care).
  • Moat breadth: LPL Financial Holdings Inc. has 6 moat types across 4 domains; Novo Nordisk A/S has 5 across 3.

Primary market context

LPL Financial Holdings Inc.

Advisor Platform

Market

Advisor-mediated wealth management platform (independent broker-dealer + RIA custody/clearing)

Geography

United States

Customer

Financial advisors and financial institutions

Role

Platform / broker-dealer / custodian

Revenue share

100%

Novo Nordisk A/S

Diabetes care

Market

Diabetes pharmaceuticals (GLP-1 for type 2 diabetes, insulin, and related therapies)

Geography

Global

Customer

Payers/providers and patients (via wholesalers/pharmacies/hospitals)

Role

Originator pharma (R&D, regulatory, manufacturing, commercialization)

Revenue share

71.1%

Side-by-side metrics

LPL Financial Holdings Inc.
Novo Nordisk A/S
Ticker / Exchange
LPLA - Nasdaq
NOVOB - Nasdaq Copenhagen
Market cap (USD)
$29.9B
$232.3B
Sector
Financials
Healthcare
HQ country
US
DK
Primary segment
Advisor Platform
Diabetes care
Market structure
Oligopoly
Oligopoly
Market share
23%-25% (reported)
33.7% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
79 / 100
85 / 100
Moat domains
Supply, Demand, Legal, Network
Legal, Supply, Demand
Last update
2025-12-26
2025-12-28

Moat coverage

Shared moat types

No overlap yet.

LPL Financial Holdings Inc. strengths

Scale Economies Unit CostSuite BundlingOperational ExcellenceCompliance AdvantageTwo Sided NetworkSwitching Costs General

Novo Nordisk A/S strengths

IP Choke PointRegulated Standards PipeCapacity MoatBrand TrustLearning Curve Yield

Segment mix

LPL Financial Holdings Inc. segments

Full profile >

Advisor Platform

Oligopoly

100%

Novo Nordisk A/S segments

Full profile >

Diabetes care

Oligopoly

71.1%

Obesity care

Duopoly

22.4%

Rare disease

Oligopoly

6.4%

Want the full wide moat stocks list?

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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.