VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Manhattan Associates, Inc. vs Morningstar, Inc.

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

Manhattan Associates, Inc.

MANH · The Nasdaq Stock Market LLC

Market cap (USD)$10.6B
Gross margin (TTM)55.9%
Operating margin (TTM)25.9%
Net margin (TTM)20.3%
SectorTechnology
IndustrySoftware - Application
CountryUS
Data as of2025-12-28
Moat score
56/ 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 Manhattan Associates, Inc.'s moat claims, evidence, and risks.

View MANH 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: Morningstar, Inc. leads (67 / 100 vs 56 / 100 for Manhattan Associates, Inc.).
  • Segment focus: Manhattan Associates, Inc. has 4 segments (50.4% in Professional services (implementation, consulting, training)); Morningstar, Inc. has 7 segments (34.6% in Morningstar Data and Analytics).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Weak vs Moderate.
  • Moat breadth: Manhattan Associates, Inc. has 7 moat types across 1 domains; Morningstar, Inc. has 6 across 3.

Primary market context

Manhattan Associates, Inc.

Professional services (implementation, consulting, training)

Market

Supply chain & omnichannel software implementation and consulting services

Geography

Global

Customer

Enterprises implementing or expanding supply chain/omnichannel systems

Role

Implementation and advisory services provider

Revenue share

50.4%

Morningstar, Inc.

Morningstar Data and Analytics

Market

Investment data, research, and analytics platforms

Geography

Global

Revenue share

34.6%

Side-by-side metrics

Manhattan Associates, Inc.
Morningstar, Inc.
Ticker / Exchange
MANH - The Nasdaq Stock Market LLC
MORN - NASDAQ
Market cap (USD)
$10.6B
n/a
Gross margin (TTM)
55.9%
n/a
Operating margin (TTM)
25.9%
n/a
Net margin (TTM)
20.3%
n/a
Sector
Technology
Financials
Industry
Software - Application
n/a
HQ country
US
US
Primary segment
Professional services (implementation, consulting, training)
Morningstar Data and Analytics
Market structure
Competitive
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Weak
Moderate
Moat score
56 / 100
67 / 100
Moat domains
Demand
Demand, Network, Legal
Last update
2025-12-28
2026-01-10

Moat coverage

Shared moat types

Suite BundlingData Workflow Lockin

Manhattan Associates, Inc. strengths

Long Term ContractsReputation ReviewsProcurement InertiaInstalled Base ConsumablesSwitching Costs General

Morningstar, Inc. strengths

De Facto StandardRegulated Standards PipeTraining Org Change CostsIP Choke Point

Segment mix

Manhattan Associates, Inc. segments

Full profile >

Cloud subscriptions (Manhattan Active SaaS)

Oligopoly

32.4%

Professional services (implementation, consulting, training)

Competitive

50.4%

Maintenance and support (legacy perpetual licenses)

Monopoly

13.3%

Perpetual licenses and hardware

Competitive

4%

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?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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Looking for expansion-stage stocks?

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.