VOL. XCIV, NO. 247

* WIDE MOAT STOCKS COMPARISON *

NO ADVICE

Monday, December 29, 2025

Stock Comparison

Manhattan Associates, Inc. vs Spirax Group plc

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
SectorTechnology
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

Spirax Group plc

SPX · London Stock Exchange

Market cap (USD)$6.7B
SectorIndustrials
CountryGB
Data as of2025-12-28
Moat score
71/ 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 Spirax Group plc's moat claims, evidence, and risks.

View SPX analysis

Comparison highlights

  • Moat score gap: Spirax Group plc leads (71 / 100 vs 56 / 100 for Manhattan Associates, Inc.).
  • Segment focus: Manhattan Associates, Inc. has 4 segments (50.4% in Professional services (implementation, consulting, training)); Spirax Group plc has 3 segments (52.1% in Steam Thermal Solutions).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Weak vs Moderate.
  • Moat breadth: Manhattan Associates, Inc. has 7 moat types across 1 domains; Spirax Group plc has 6 across 2.

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%

Spirax Group plc

Steam Thermal Solutions

Market

Industrial and commercial steam systems (condensate management, controls, thermal energy management products and solutions)

Geography

Global

Customer

Industrial process operators and commercial facility operators

Role

OEM / solutions provider

Revenue share

52.1%

Side-by-side metrics

Manhattan Associates, Inc.
Spirax Group plc
Ticker / Exchange
MANH - The Nasdaq Stock Market LLC
SPX - London Stock Exchange
Market cap (USD)
$10.6B
$6.7B
Sector
Technology
Industrials
HQ country
US
GB
Primary segment
Professional services (implementation, consulting, training)
Steam Thermal Solutions
Market structure
Competitive
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Weak
Moderate
Moat score
56 / 100
71 / 100
Moat domains
Demand
Supply, Demand
Last update
2025-12-28
2025-12-28

Moat coverage

Shared moat types

Suite BundlingInstalled Base Consumables

Manhattan Associates, Inc. strengths

Data Workflow LockinLong Term ContractsReputation ReviewsProcurement InertiaSwitching Costs General

Spirax Group plc strengths

Service Field NetworkBrand TrustCapex Knowhow ScaleDesign In Qualification

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%

Spirax Group plc segments

Full profile >

Steam Thermal Solutions

Oligopoly

52.1%

Electric Thermal Solutions

Competitive

24.3%

Watson-Marlow Fluid Technology Solutions

Oligopoly

23.6%

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.