VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

London Stock Exchange Group plc vs Novartis AG

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

London Stock Exchange Group plc

LSEG · London Stock Exchange

Market cap (USD)$45B
Gross margin (TTM)51.5%
Operating margin (TTM)19.6%
Net margin (TTM)9.4%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryGB
Data as of2025-12-30
Moat score
74/ 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 London Stock Exchange Group plc's moat claims, evidence, and risks.

View LSEG analysis

Novartis AG

NOVN · SIX Swiss Exchange

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorHealthcare
Industry
CountryCH
Data as of2026-01-02
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 Novartis AG's moat claims, evidence, and risks.

View NOVN analysis

Comparison highlights

  • Moat score gap: London Stock Exchange Group plc leads (74 / 100 vs 65 / 100 for Novartis AG).
  • Segment focus: London Stock Exchange Group plc has 5 segments (51% in Data & Analytics); Novartis AG has 5 segments (29.3% in Oncology).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: London Stock Exchange Group plc has 8 moat types across 4 domains; Novartis AG has 4 across 3.

Primary market context

London Stock Exchange Group plc

Data & Analytics

Market

Financial market data, analytics and workflows (terminals and enterprise feeds)

Geography

Global

Customer

Financial institutions and corporates

Role

Data & analytics vendor

Revenue share

51%

Novartis AG

Oncology

Market

Oncology and hematology branded medicines (including targeted therapies and radioligand therapy)

Geography

Global

Customer

Oncologists and hospitals; reimbursed by payers; hospital and specialty pharmacy channels

Role

Originator developer, manufacturer, and marketer of oncology therapies

Revenue share

29.3%

Side-by-side metrics

London Stock Exchange Group plc
Novartis AG
Ticker / Exchange
LSEG - London Stock Exchange
NOVN - SIX Swiss Exchange
Market cap (USD)
$45B
n/a
Gross margin (TTM)
51.5%
n/a
Operating margin (TTM)
19.6%
n/a
Net margin (TTM)
9.4%
n/a
Sector
Financials
Healthcare
Industry
Financial - Data & Stock Exchanges
n/a
HQ country
GB
CH
Primary segment
Data & Analytics
Oncology
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
74 / 100
65 / 100
Moat domains
Demand, Supply, Network, Legal
Legal, Supply, Demand
Last update
2025-12-30
2026-01-02

Moat coverage

Shared moat types

Brand Trust

London Stock Exchange Group plc strengths

Data Workflow LockinScale Economies Unit CostDe Facto StandardCompliance AdvantageTwo Sided NetworkClearing SettlementConcession License

Novartis AG strengths

IP Choke PointRegulated Standards PipeCapex Knowhow Scale

Segment mix

London Stock Exchange Group plc segments

Full profile >

Data & Analytics

Oligopoly

51%

FTSE Russell

Oligopoly

10.7%

Risk Intelligence

Oligopoly

6.2%

Capital Markets

Oligopoly

21.3%

Post Trade

Quasi-Monopoly

10.8%

Novartis AG segments

Full profile >

Cardiovascular, Renal and Metabolic

Oligopoly

17%

Immunology

Oligopoly

18.5%

Neuroscience

Oligopoly

9.4%

Oncology

Oligopoly

29.3%

Established Brands

Competitive

25.8%

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.