VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Merck & Co., Inc. vs Stevanato Group S.p.A.

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

Merck & Co., Inc.

MRK · New York Stock Exchange

Market cap (USD)$270B
Gross margin (TTM)78.3%
Operating margin (TTM)36.4%
Net margin (TTM)29.6%
SectorHealthcare
IndustryDrug Manufacturers - General
CountryUS
Data as of2025-12-22
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 Merck & Co., Inc.'s moat claims, evidence, and risks.

View MRK analysis

Stevanato Group S.p.A.

STVN · New York Stock Exchange

Market cap (USD)$5.7B
Gross margin (TTM)28.6%
Operating margin (TTM)16.7%
Net margin (TTM)12%
SectorHealthcare
IndustryMedical - Instruments & Supplies
CountryIT
Data as of2026-01-05
Moat score
59/ 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 Stevanato Group S.p.A.'s moat claims, evidence, and risks.

View STVN analysis

Comparison highlights

  • Moat score gap: Merck & Co., Inc. leads (71 / 100 vs 59 / 100 for Stevanato Group S.p.A.).
  • Segment focus: Merck & Co., Inc. has 2 segments (89.5% in Pharmaceutical); Stevanato Group S.p.A. has 3 segments (46.3% in Other Containment and Delivery Solutions).
  • Primary market structure: Competitive vs Competitive. Pricing power: Moderate vs Weak.
  • Moat breadth: Merck & Co., Inc. has 5 moat types across 3 domains; Stevanato Group S.p.A. has 8 across 3.

Primary market context

Merck & Co., Inc.

Pharmaceutical

Market

Branded prescription pharmaceuticals & human vaccines

Geography

Global

Customer

Wholesalers/retailers, managed care and government payers, hospitals/clinics

Role

R&D-intensive innovator, manufacturer, and marketer

Revenue share

89.5%

Stevanato Group S.p.A.

Other Containment and Delivery Solutions

Market

Standard primary packaging and related services for injectable drugs and diagnostics

Geography

Global

Customer

Pharmaceutical, biotechnology, diagnostics and life sciences companies; fill-finish CMOs

Role

Primary packaging/component manufacturer and contract manufacturing partner

Revenue share

46.3%

Side-by-side metrics

Merck & Co., Inc.
Stevanato Group S.p.A.
Ticker / Exchange
MRK - New York Stock Exchange
STVN - New York Stock Exchange
Market cap (USD)
$270B
$5.7B
Gross margin (TTM)
78.3%
28.6%
Operating margin (TTM)
36.4%
16.7%
Net margin (TTM)
29.6%
12%
Sector
Healthcare
Healthcare
Industry
Drug Manufacturers - General
Medical - Instruments & Supplies
HQ country
US
IT
Primary segment
Pharmaceutical
Other Containment and Delivery Solutions
Market structure
Competitive
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Weak
Moat score
71 / 100
59 / 100
Moat domains
Legal, Supply, Demand
Demand, Supply, Network
Last update
2025-12-22
2026-01-05

Moat coverage

Shared moat types

Capex Knowhow ScaleScope Economies

Merck & Co., Inc. strengths

IP Choke PointRegulated Standards PipeData Workflow Lockin

Stevanato Group S.p.A. strengths

Design In QualificationDe Facto StandardBrand TrustLong Term ContractsOperational ExcellenceService Field Network

Segment mix

Merck & Co., Inc. segments

Full profile >

Pharmaceutical

Competitive

89.5%

Animal Health

Oligopoly

9.2%

Stevanato Group S.p.A. segments

Full profile >

High-Value Solutions

Oligopoly

38.3%

Other Containment and Delivery Solutions

Competitive

46.3%

Engineering

Competitive

15.4%

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.