VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Legrand S.A. vs Watsco, Inc.

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

Legrand S.A.

LR · Euronext Paris

Market cap (USD)$33B
Gross margin (TTM)51.1%
Operating margin (TTM)19.5%
Net margin (TTM)13%
SectorIndustrials
IndustryElectrical Equipment & Parts
CountryFR
Data as of2026-01-02
Moat score
68/ 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 Legrand S.A.'s moat claims, evidence, and risks.

View LR analysis

Watsco, Inc.

WSO · New York Stock Exchange

Market cap (USD)$14.4B
Gross margin (TTM)28.3%
Operating margin (TTM)10.2%
Net margin (TTM)7.4%
SectorIndustrials
IndustryIndustrial - Distribution
CountryUS
Data as of2026-01-05
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 Watsco, Inc.'s moat claims, evidence, and risks.

View WSO analysis

Comparison highlights

  • Moat score gap: Watsco, Inc. leads (72 / 100 vs 68 / 100 for Legrand S.A.).
  • Segment focus: Legrand S.A. has 2 segments (80% in Building electrical & digital infrastructure (non-datacenter)); Watsco, Inc. has 1 segment (100% in HVAC/R Distribution).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Legrand S.A. has 4 moat types across 3 domains; Watsco, Inc. has 4 across 3.

Primary market context

Legrand S.A.

Building electrical & digital infrastructure (non-datacenter)

Market

Low-voltage electrical and digital building infrastructure (wiring devices, energy distribution, cable management, building controls)

Geography

Global (strong Europe & North America footprint)

Customer

Professional installers/electricians, electrical wholesalers, OEM/contractors; end-users in residential & commercial buildings

Role

Manufacturer + brand owner; channel-driven distribution

Revenue share

80%

Watsco, Inc.

HVAC/R Distribution

Market

HVAC/R equipment, parts and supplies distribution

Geography

North America (U.S., Canada, Mexico, Puerto Rico; export to Latin America/Caribbean)

Customer

Licensed HVAC and refrigeration contractors (residential & commercial)

Role

Wholesale distributor

Revenue share

100%

Side-by-side metrics

Legrand S.A.
Watsco, Inc.
Ticker / Exchange
LR - Euronext Paris
WSO - New York Stock Exchange
Market cap (USD)
$33B
$14.4B
Gross margin (TTM)
51.1%
28.3%
Operating margin (TTM)
19.5%
10.2%
Net margin (TTM)
13%
7.4%
Sector
Industrials
Industrials
Industry
Electrical Equipment & Parts
Industrial - Distribution
HQ country
FR
US
Primary segment
Building electrical & digital infrastructure (non-datacenter)
HVAC/R Distribution
Market structure
Oligopoly
Competitive
Market share
n/a
9%-12% (implied)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
68 / 100
72 / 100
Moat domains
Legal, Supply, Demand
Supply, Legal, Demand
Last update
2026-01-02
2026-01-05

Moat coverage

Shared moat types

No overlap yet.

Legrand S.A. strengths

Compliance AdvantageScope EconomiesBrand TrustDesign In Qualification

Watsco, Inc. strengths

Physical Network DensityContractual ExclusivityScale Economies Unit CostData Workflow Lockin

Segment mix

Legrand S.A. segments

Full profile >

Building electrical & digital infrastructure (non-datacenter)

Oligopoly

80%

Datacenter infrastructure

Oligopoly

20%

Watsco, Inc. segments

Full profile >

HVAC/R Distribution

Competitive

100%

Want the full wide moat stocks list?

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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.