VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Moncler S.p.A. vs Spirax Group plc

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

Moncler S.p.A.

MONC · Euronext Milan

Market cap (USD)$14.8B
Gross margin (TTM)76.4%
Operating margin (TTM)29.4%
Net margin (TTM)20.4%
SectorConsumer
IndustryApparel - Manufacturers
CountryIT
Data as of2026-01-05
Moat score
69/ 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 Moncler S.p.A.'s moat claims, evidence, and risks.

View MONC analysis

Spirax Group plc

SPX · London Stock Exchange

Market cap (USD)$5B
Gross margin (TTM)19.6%
Operating margin (TTM)17.2%
Net margin (TTM)10.7%
SectorIndustrials
IndustryIndustrial - Machinery
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 69 / 100 for Moncler S.p.A.).
  • Segment focus: Moncler S.p.A. has 2 segments (87.1% in Moncler brand); Spirax Group plc has 3 segments (52.1% in Steam Thermal Solutions).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Moncler S.p.A. has 3 moat types across 3 domains; Spirax Group plc has 6 across 2.

Primary market context

Moncler S.p.A.

Moncler brand

Market

Luxury outerwear and apparel (down jackets, ready-to-wear, accessories)

Geography

Global

Customer

Consumers

Role

Branded apparel company (design/marketing; DTC + wholesale distribution)

Revenue share

87.1%

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

Moncler S.p.A.
Spirax Group plc
Ticker / Exchange
MONC - Euronext Milan
SPX - London Stock Exchange
Market cap (USD)
$14.8B
$5B
Gross margin (TTM)
76.4%
19.6%
Operating margin (TTM)
29.4%
17.2%
Net margin (TTM)
20.4%
10.7%
Sector
Consumer
Industrials
Industry
Apparel - Manufacturers
Industrial - Machinery
HQ country
IT
GB
Primary segment
Moncler brand
Steam Thermal Solutions
Market structure
Competitive
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
69 / 100
71 / 100
Moat domains
Demand, Supply, Legal
Supply, Demand
Last update
2026-01-05
2025-12-28

Moat coverage

Shared moat types

Brand Trust

Moncler S.p.A. strengths

Distribution ControlIP Choke Point

Spirax Group plc strengths

Service Field NetworkInstalled Base ConsumablesCapex Knowhow ScaleDesign In QualificationSuite Bundling

Segment mix

Moncler S.p.A. segments

Full profile >

Moncler brand

Competitive

87.1%

Stone Island brand

Competitive

12.9%

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?

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

View the moat stocks list

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.