VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Merck & Co., Inc. vs Thermo Fisher Scientific Inc.

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)$305.4B
Gross margin (TTM)81.5%
Operating margin (TTM)41.2%
Net margin (TTM)28.1%
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

Thermo Fisher Scientific Inc.

TMO · New York Stock Exchange

Market cap (USD)$192B
Gross margin (TTM)39.5%
Operating margin (TTM)18%
Net margin (TTM)15.1%
SectorHealthcare
IndustryMedical - Diagnostics & Research
CountryUS
Data as of2025-12-22
Moat score
64/ 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 Thermo Fisher Scientific Inc.'s moat claims, evidence, and risks.

View TMO analysis

Comparison highlights

  • Moat score gap: Merck & Co., Inc. leads (71 / 100 vs 64 / 100 for Thermo Fisher Scientific Inc.).
  • Segment focus: Merck & Co., Inc. has 2 segments (89.5% in Pharmaceutical); Thermo Fisher Scientific Inc. has 4 segments (53.6% in Laboratory Products and Biopharma Services).
  • Moat breadth: Merck & Co., Inc. has 5 moat types across 3 domains; Thermo Fisher Scientific Inc. 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%

Thermo Fisher Scientific Inc.

Laboratory Products and Biopharma Services

Market

Laboratory supplies distribution/market channel plus outsourced biopharma services (CDMO/CRO)

Geography

Global

Customer

Pharma & biotech; academic/government labs; industrial and clinical laboratories

Role

Distributor/market channel and outsourced services provider

Revenue share

53.6%

Side-by-side metrics

Merck & Co., Inc.
Thermo Fisher Scientific Inc.
Ticker / Exchange
MRK - New York Stock Exchange
TMO - New York Stock Exchange
Market cap (USD)
$305.4B
$192B
Gross margin (TTM)
81.5%
39.5%
Operating margin (TTM)
41.2%
18%
Net margin (TTM)
28.1%
15.1%
Sector
Healthcare
Healthcare
Industry
Drug Manufacturers - General
Medical - Diagnostics & Research
HQ country
US
US
Primary segment
Pharmaceutical
Laboratory Products and Biopharma Services
Market structure
Competitive
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
71 / 100
64 / 100
Moat domains
Legal, Supply, Demand
Demand, Supply, Legal
Last update
2025-12-22
2025-12-22

Moat coverage

Shared moat types

Regulated Standards Pipe

Merck & Co., Inc. strengths

IP Choke PointCapex Knowhow ScaleScope EconomiesData Workflow Lockin

Thermo Fisher Scientific Inc. strengths

Installed Base ConsumablesFormat Lock InBrand TrustService Field NetworkDistribution ControlProcurement InertiaCapacity Moat

Segment mix

Merck & Co., Inc. segments

Full profile >

Pharmaceutical

Competitive

89.5%

Animal Health

Oligopoly

9.2%

Thermo Fisher Scientific Inc. segments

Full profile >

Life Sciences Solutions

Oligopoly

19%

Analytical Instruments

Oligopoly

17%

Specialty Diagnostics

Oligopoly

10.4%

Laboratory Products and Biopharma Services

Competitive

53.6%

Want the full wide moat stocks list?

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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.