VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 3, 2026

Stock Comparison

Mastercard Incorporated vs Novartis AG

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

Mastercard Incorporated

MA · New York Stock Exchange

Market cap (USD)$507.2B
Gross margin (TTM)77.5%
Operating margin (TTM)57%
Net margin (TTM)45.3%
SectorFinancials
IndustryFinancial - Credit Services
CountryUS
Data as of2025-12-21
Moat score
77/ 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 Mastercard Incorporated's moat claims, evidence, and risks.

View MA 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: Mastercard Incorporated leads (77 / 100 vs 65 / 100 for Novartis AG).
  • Segment focus: Mastercard Incorporated has 2 segments (61.5% in Payment Network); Novartis AG has 5 segments (29.3% in Oncology).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Mastercard Incorporated has 6 moat types across 3 domains; Novartis AG has 4 across 3.

Primary market context

Mastercard Incorporated

Payment Network

Market

Four-party card payment network (switching, acceptance, and network-related services)

Geography

Global

Customer

Issuers, acquirers, merchants, account holders

Role

Network operator (authorization, clearing, settlement) and rules/standards steward

Revenue share

61.5%

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

Mastercard Incorporated
Novartis AG
Ticker / Exchange
MA - New York Stock Exchange
NOVN - SIX Swiss Exchange
Market cap (USD)
$507.2B
n/a
Gross margin (TTM)
77.5%
n/a
Operating margin (TTM)
57%
n/a
Net margin (TTM)
45.3%
n/a
Sector
Financials
Healthcare
Industry
Financial - Credit Services
n/a
HQ country
US
CH
Primary segment
Payment Network
Oncology
Market structure
Oligopoly
Oligopoly
Market share
29.7% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
77 / 100
65 / 100
Moat domains
Network, Demand, Legal
Legal, Supply, Demand
Last update
2025-12-21
2026-01-02

Moat coverage

Shared moat types

Brand TrustRegulated Standards Pipe

Mastercard Incorporated strengths

Two Sided NetworkClearing SettlementData Network EffectsData Workflow Lockin

Novartis AG strengths

IP Choke PointCapex Knowhow Scale

Segment mix

Mastercard Incorporated segments

Full profile >

Payment Network

Oligopoly

61.5%

Value-Added Services and Solutions

Competitive

38.5%

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?

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.