VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

Stock Comparison

Melrose Industries PLC vs Spirax Group plc

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

Melrose Industries PLC

MRO · London Stock Exchange

Market cap (USD)$7.5B
Gross margin (TTM)25.2%
Operating margin (TTM)12.5%
Net margin (TTM)4.6%
SectorIndustrials
IndustryIndustrial - Machinery
CountryGB
Data as of2026-06-03
Moat score
77/ 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 Melrose Industries PLC's moat claims, evidence, and risks.

View MRO analysis

Spirax Group plc

SPX · London Stock Exchange

Market cap (USD)$6.8B
Gross margin (TTM)19.5%
Operating margin (TTM)17.1%
Net margin (TTM)10.5%
SectorIndustrials
IndustryIndustrial - Machinery
CountryGB
Data as of2026-06-03
Moat score
70/ 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: Melrose Industries PLC leads (77 / 100 vs 70 / 100 for Spirax Group plc).
  • Segment focus: Melrose Industries PLC has 2 segments (54.5% in Airframes); Spirax Group plc has 3 segments (50.1% in Steam Thermal Solutions).
  • Moat breadth: Melrose Industries PLC has 5 moat types across 2 domains; Spirax Group plc has 6 across 2.

Primary market context

Melrose Industries PLC

Airframes

Market

Aerostructures and aircraft electrical wiring systems (EWIS)

Geography

Global

Customer

Airframe OEMs; defence primes

Role

Tier-1 aerospace supplier

Revenue share

54.5%

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

50.1%

Side-by-side metrics

Melrose Industries PLC
Spirax Group plc
Ticker / Exchange
MRO - London Stock Exchange
SPX - London Stock Exchange
Market cap (USD)
$7.5B
$6.8B
Gross margin (TTM)
25.2%
19.5%
Operating margin (TTM)
12.5%
17.1%
Net margin (TTM)
4.6%
10.5%
Sector
Industrials
Industrials
Industry
Industrial - Machinery
Industrial - Machinery
HQ country
GB
GB
Primary segment
Airframes
Steam Thermal Solutions
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
77 / 100
70 / 100
Moat domains
Demand, Supply
Supply, Demand
Last update
2026-06-03
2026-06-03

Moat coverage

Shared moat types

Design In QualificationCapex Knowhow ScaleService Field Network

Melrose Industries PLC strengths

Long Term ContractsCapacity Moat

Spirax Group plc strengths

Installed Base ConsumablesBrand TrustSuite Bundling

Segment mix

Melrose Industries PLC segments

Full profile >

Engines

Oligopoly

45.5%

Airframes

Oligopoly

54.5%

Spirax Group plc segments

Full profile >

Steam Thermal Solutions

Oligopoly

50.1%

Electric Thermal Solutions

Competitive

25.9%

Watson-Marlow Fluid Technology Solutions

Oligopoly

24%

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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.