VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Friday, January 2, 2026

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Stock Comparison

LVMH Moet Hennessy Louis Vuitton SE vs Novartis AG

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

LVMH Moet Hennessy Louis Vuitton SE

MC · Euronext Paris

Market cap (USD)$317.7B

Gross margin (TTM)67.3%

Operating margin (TTM)23.2%

Net margin (TTM)14.8%

SectorConsumer

IndustryLuxury Goods

CountryFR

Data as of2025-12-30

Moat score

80/ 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 LVMH Moet Hennessy Louis Vuitton SE's moat claims, evidence, and risks.

View MC 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: LVMH Moet Hennessy Louis Vuitton SE leads (80 / 100 vs 65 / 100 for Novartis AG).
Segment focus: LVMH Moet Hennessy Louis Vuitton SE has 5 segments (48.5% in Fashion and Leather Goods); Novartis AG has 5 segments (29.3% in Oncology).
Moat breadth: LVMH Moet Hennessy Louis Vuitton SE has 9 moat types across 4 domains; Novartis AG has 4 across 3.

Primary market context

LVMH Moet Hennessy Louis Vuitton SE

Fashion and Leather Goods

Market

Luxury fashion and leather goods

Geography

Global

Customer

Consumers via directly operated retail; selective wholesale

Role

Brand owner / design house / manufacturer / retailer

Revenue share

48.5%

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

LVMH Moet Hennessy Louis Vuitton SE

Novartis AG

Ticker / Exchange

MC - Euronext Paris

NOVN - SIX Swiss Exchange

Market cap (USD)

$317.7B

n/a

Gross margin (TTM)

67.3%

n/a

Operating margin (TTM)

23.2%

n/a

Net margin (TTM)

14.8%

n/a

Sector

Consumer

Healthcare

Industry

Luxury Goods

n/a

HQ country

Primary segment

Fashion and Leather Goods

Oncology

Market structure

Oligopoly

Market share

n/a

HHI estimate

n/a

Pricing power

Strong

Moat score

80 / 100

65 / 100

Moat domains

Supply, Demand, Network, Legal

Legal, Supply, Demand

Last update

2025-12-30

2026-01-02

Moat coverage

Shared moat types

Capex Knowhow ScaleBrand Trust

LVMH Moet Hennessy Louis Vuitton SE strengths

Distribution ControlGeographic NaturalKeystone ComponentService Field NetworkTwo Sided NetworkPhysical Network DensityConcession License

Novartis AG strengths

IP Choke PointRegulated Standards Pipe

Segment mix

LVMH Moet Hennessy Louis Vuitton SE segments

Full profile >

Fashion and Leather Goods

Oligopoly

48.5%

Wines and Spirits

Oligopoly

6.9%

Perfumes and Cosmetics

Oligopoly

9.9%

Watches and Jewelry

Oligopoly

12.5%

Selective Retailing

Oligopoly

21.6%

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%

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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.