VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Morningstar, Inc. vs SAP SE

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

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

SAP SE

SAP · XETRA

Market cap (USD)$247.3B
Gross margin (TTM)73.6%
Operating margin (TTM)25.8%
Net margin (TTM)19.4%
SectorTechnology
IndustrySoftware - Application
CountryDE
Data as of2025-12-30
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 SAP SE's moat claims, evidence, and risks.

View SAP analysis

Comparison highlights

  • Moat score gap: Morningstar, Inc. leads (67 / 100 vs 65 / 100 for SAP SE).
  • Segment focus: Morningstar, Inc. has 7 segments (34.6% in Morningstar Data and Analytics); SAP SE has 2 segments (87.3% in Cloud and Software).
  • Moat breadth: Morningstar, Inc. has 6 moat types across 3 domains; SAP SE has 6 across 3.

Primary market context

Morningstar, Inc.

Morningstar Data and Analytics

Market

Investment data, research, and analytics platforms

Geography

Global

Revenue share

34.6%

SAP SE

Cloud and Software

Market

Enterprise application software suites and cloud subscriptions (ERP-centric) plus platform services

Geography

Global

Customer

Large enterprises and upper mid-market

Role

Software vendor (SaaS + on-prem support + platform)

Revenue share

87.3%

Side-by-side metrics

Morningstar, Inc.
SAP SE
Ticker / Exchange
MORN - NASDAQ
SAP - XETRA
Market cap (USD)
n/a
$247.3B
Gross margin (TTM)
n/a
73.6%
Operating margin (TTM)
n/a
25.8%
Net margin (TTM)
n/a
19.4%
Sector
Financials
Technology
Industry
n/a
Software - Application
HQ country
US
DE
Primary segment
Morningstar Data and Analytics
Cloud and Software
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
67 / 100
65 / 100
Moat domains
Demand, Network, Legal
Demand, Network, Legal
Last update
2026-01-10
2025-12-30

Moat coverage

Shared moat types

Data Workflow LockinSuite Bundling

Morningstar, Inc. strengths

De Facto StandardRegulated Standards PipeTraining Org Change CostsIP Choke Point

SAP SE strengths

Ecosystem ComplementsLong Term ContractsCompliance AdvantageBrand Trust

Segment mix

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%

SAP SE segments

Full profile >

Cloud and Software

Oligopoly

87.3%

Services

Competitive

12.7%

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.