VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Martin Marietta Materials, Inc. vs Morningstar, Inc.

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

Martin Marietta Materials, Inc.

MLM · NYSE

Market cap (USD)$40.2B
Gross margin (TTM)29.9%
Operating margin (TTM)23.4%
Net margin (TTM)17.4%
SectorMaterials
IndustryConstruction Materials
CountryUS
Data as of2026-01-01
Moat score
78/ 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 Martin Marietta Materials, Inc.'s moat claims, evidence, and risks.

View MLM 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: Martin Marietta Materials, Inc. leads (78 / 100 vs 67 / 100 for Morningstar, Inc.).
  • Segment focus: Martin Marietta Materials, Inc. has 3 segments (52.4% in East Group); Morningstar, Inc. has 7 segments (34.6% in Morningstar Data and Analytics).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Martin Marietta Materials, Inc. has 4 moat types across 2 domains; Morningstar, Inc. has 6 across 3.

Primary market context

Martin Marietta Materials, Inc.

East Group

Market

Construction aggregates and asphalt products (crushed stone, sand & gravel; asphalt) in local/regional markets

Geography

United States (East/Southeast and adjacent regions)

Customer

Infrastructure agencies, construction contractors, and downstream materials producers (asphalt/ready-mix)

Role

Quarry/mining operator and building materials producer/distributor

Revenue share

52.4%

Morningstar, Inc.

Morningstar Data and Analytics

Market

Investment data, research, and analytics platforms

Geography

Global

Revenue share

34.6%

Side-by-side metrics

Martin Marietta Materials, Inc.
Morningstar, Inc.
Ticker / Exchange
MLM - NYSE
MORN - NASDAQ
Market cap (USD)
$40.2B
n/a
Gross margin (TTM)
29.9%
n/a
Operating margin (TTM)
23.4%
n/a
Net margin (TTM)
17.4%
n/a
Sector
Materials
Financials
Industry
Construction Materials
n/a
HQ country
US
US
Primary segment
East Group
Morningstar Data and Analytics
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
78 / 100
67 / 100
Moat domains
Supply, Financial
Demand, Network, Legal
Last update
2026-01-01
2026-01-10

Moat coverage

Shared moat types

No overlap yet.

Martin Marietta Materials, Inc. strengths

Physical Network DensityGeographic NaturalBenchmark Pricing PowerCapex Knowhow Scale

Morningstar, Inc. strengths

Data Workflow LockinDe Facto StandardRegulated Standards PipeSuite BundlingTraining Org Change CostsIP Choke Point

Segment mix

Martin Marietta Materials, Inc. segments

Full profile >

East Group

Oligopoly

52.4%

West Group

Oligopoly

40.9%

Specialties (formerly Magnesia Specialties)

Oligopoly

6.7%

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?

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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.