VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Lam Research Corporation vs Morningstar, Inc.

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

Lam Research Corporation

LRCX · NASDAQ

Market cap (USD)$274.3B
Gross margin (TTM)49.3%
Operating margin (TTM)33%
Net margin (TTM)29.7%
SectorTechnology
IndustrySemiconductors
CountryUS
Data as of2025-12-29
Moat score
73/ 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 Lam Research Corporation's moat claims, evidence, and risks.

View LRCX analysis

Morningstar, Inc.

MORN · NASDAQ

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
Industry
CountryUS
Data as of2026-01-10
Moat score
67/ 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 Morningstar, Inc.'s moat claims, evidence, and risks.

View MORN analysis

Comparison highlights

  • Moat score gap: Lam Research Corporation leads (73 / 100 vs 67 / 100 for Morningstar, Inc.).
  • Segment focus: Lam Research Corporation has 2 segments (62.3% in Systems); Morningstar, Inc. has 7 segments (34.6% in Morningstar Data and Analytics).
  • Moat breadth: Lam Research Corporation has 6 moat types across 2 domains; Morningstar, Inc. has 6 across 3.

Primary market context

Lam Research Corporation

Systems

Market

Wafer fabrication equipment (etch, deposition, clean and related wafer processing tools)

Geography

Global

Customer

Semiconductor manufacturers (memory, foundry, logic/IDM)

Role

Equipment OEM

Revenue share

62.3%

Morningstar, Inc.

Morningstar Data and Analytics

Market

Investment data, research, and analytics platforms

Geography

Global

Revenue share

34.6%

Side-by-side metrics

Lam Research Corporation
Morningstar, Inc.
Ticker / Exchange
LRCX - NASDAQ
MORN - NASDAQ
Market cap (USD)
$274.3B
n/a
Gross margin (TTM)
49.3%
n/a
Operating margin (TTM)
33%
n/a
Net margin (TTM)
29.7%
n/a
Sector
Technology
Financials
Industry
Semiconductors
n/a
HQ country
US
US
Primary segment
Systems
Morningstar Data and Analytics
Market structure
Oligopoly
Oligopoly
Market share
8%-12% (implied)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
73 / 100
67 / 100
Moat domains
Demand, Supply
Demand, Network, Legal
Last update
2025-12-29
2026-01-10

Moat coverage

Shared moat types

Data Workflow Lockin

Lam Research Corporation strengths

Design In QualificationCapex Knowhow ScaleLearning Curve YieldInstalled Base ConsumablesService Field Network

Morningstar, Inc. strengths

De Facto StandardRegulated Standards PipeSuite BundlingTraining Org Change CostsIP Choke Point

Segment mix

Lam Research Corporation segments

Full profile >

Systems

Oligopoly

62.3%

Customer Support Business Group (CSBG)

Quasi-Monopoly

37.7%

Morningstar, Inc. segments

Full profile >

Morningstar Data and Analytics

Oligopoly

34.6%

PitchBook

Oligopoly

27.2%

Morningstar Credit

Oligopoly

12.8%

Morningstar Wealth

Competitive

10.9%

Morningstar Retirement

Competitive

5.6%

Morningstar Sustainalytics

Oligopoly

5.2%

Morningstar Indexes

Oligopoly

3.7%

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.