VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Nordson Corporation vs Watsco, Inc.

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

Nordson Corporation

NDSN · NASDAQ

Market cap (USD)$13.7B
Gross margin (TTM)55.2%
Operating margin (TTM)25.5%
Net margin (TTM)17.4%
SectorIndustrials
IndustryIndustrial - Machinery
CountryUS
Data as of2025-12-29
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 Nordson Corporation's moat claims, evidence, and risks.

View NDSN 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: Watsco, Inc. leads (72 / 100 vs 67 / 100 for Nordson Corporation).
  • Segment focus: Nordson Corporation has 3 segments (47.7% in Industrial Precision Solutions); Watsco, Inc. has 1 segment (100% in HVAC/R Distribution).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Nordson Corporation has 6 moat types across 2 domains; Watsco, Inc. has 4 across 3.

Primary market context

Nordson Corporation

Industrial Precision Solutions

Market

Industrial precision dispensing, coating, and material-processing equipment (adhesives, coatings, sealants, polymers)

Geography

Global

Customer

Manufacturers and converters (packaging, nonwovens/hygiene, automotive, industrial, agriculture)

Role

Capital equipment OEM / process-solution provider

Revenue share

47.7%

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

Nordson Corporation
Watsco, Inc.
Ticker / Exchange
NDSN - NASDAQ
WSO - New York Stock Exchange
Market cap (USD)
$13.7B
$14.4B
Gross margin (TTM)
55.2%
28.3%
Operating margin (TTM)
25.5%
10.2%
Net margin (TTM)
17.4%
7.4%
Sector
Industrials
Industrials
Industry
Industrial - Machinery
Industrial - Distribution
HQ country
US
US
Primary segment
Industrial Precision Solutions
HVAC/R Distribution
Market structure
Oligopoly
Competitive
Market share
n/a
9%-12% (implied)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
67 / 100
72 / 100
Moat domains
Supply, Demand
Supply, Legal, Demand
Last update
2025-12-29
2026-01-05

Moat coverage

Shared moat types

Data Workflow Lockin

Nordson Corporation strengths

Capex Knowhow ScaleService Field NetworkSwitching Costs GeneralInstalled Base ConsumablesDesign In Qualification

Watsco, Inc. strengths

Physical Network DensityContractual ExclusivityScale Economies Unit Cost

Segment mix

Nordson Corporation segments

Full profile >

Industrial Precision Solutions

Oligopoly

47.7%

Medical and Fluid Solutions

Competitive

29.9%

Advanced Technology Solutions

Oligopoly

22.4%

Watsco, Inc. segments

Full profile >

HVAC/R Distribution

Competitive

100%

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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.