VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

MSCI Inc. vs Watsco, Inc.

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

MSCI Inc.

MSCI · New York Stock Exchange

Market cap (USD)$44.7B
Gross margin (TTM)82.4%
Operating margin (TTM)54.2%
Net margin (TTM)40%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryUS
Data as of2025-12-28
Moat score
76/ 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 MSCI Inc.'s moat claims, evidence, and risks.

View MSCI analysis

Watsco, Inc.

WSO · New York Stock Exchange

Market cap (USD)$14.4B
Gross margin (TTM)28.3%
Operating margin (TTM)10.2%
Net margin (TTM)7.4%
SectorIndustrials
IndustryIndustrial - Distribution
CountryUS
Data as of2026-01-05
Moat score
72/ 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 Watsco, Inc.'s moat claims, evidence, and risks.

View WSO analysis

Comparison highlights

  • Moat score gap: MSCI Inc. leads (76 / 100 vs 72 / 100 for Watsco, Inc.).
  • Segment focus: MSCI Inc. has 4 segments (55.9% in Index); Watsco, Inc. has 1 segment (100% in HVAC/R Distribution).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Strong vs Moderate.
  • Moat breadth: MSCI Inc. has 4 moat types across 3 domains; Watsco, Inc. has 4 across 3.

Primary market context

MSCI Inc.

Index

Market

Investment indexes and index licensing

Geography

Global

Customer

Institutional investors and asset managers

Role

Index provider / benchmark administrator

Revenue share

55.9%

Watsco, Inc.

HVAC/R Distribution

Market

HVAC/R equipment, parts and supplies distribution

Geography

North America (U.S., Canada, Mexico, Puerto Rico; export to Latin America/Caribbean)

Customer

Licensed HVAC and refrigeration contractors (residential & commercial)

Role

Wholesale distributor

Revenue share

100%

Side-by-side metrics

MSCI Inc.
Watsco, Inc.
Ticker / Exchange
MSCI - New York Stock Exchange
WSO - New York Stock Exchange
Market cap (USD)
$44.7B
$14.4B
Gross margin (TTM)
82.4%
28.3%
Operating margin (TTM)
54.2%
10.2%
Net margin (TTM)
40%
7.4%
Sector
Financials
Industrials
Industry
Financial - Data & Stock Exchanges
Industrial - Distribution
HQ country
US
US
Primary segment
Index
HVAC/R Distribution
Market structure
Oligopoly
Competitive
Market share
23%-27% (implied)
9%-12% (implied)
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
76 / 100
72 / 100
Moat domains
Network, Demand, Legal
Supply, Legal, Demand
Last update
2025-12-28
2026-01-05

Moat coverage

Shared moat types

Data Workflow Lockin

MSCI Inc. strengths

De Facto StandardSwitching Costs GeneralCompliance Advantage

Watsco, Inc. strengths

Physical Network DensityContractual ExclusivityScale Economies Unit Cost

Segment mix

MSCI Inc. segments

Full profile >

Index

Oligopoly

55.9%

Analytics

Oligopoly

23.6%

Sustainability and Climate

Competitive

11.4%

Private Assets

Competitive

9%

Watsco, Inc. segments

Full profile >

HVAC/R Distribution

Competitive

100%

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.