VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 3, 2026

Wide Moat Stocks Home My Collections

Stock Comparison

Nestle S.A. vs Novartis AG

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

Nestle S.A.

NESN · SIX Swiss Exchange

Market cap (USD)$202.6B

Gross margin (TTM)46.8%

Operating margin (TTM)15.5%

Net margin (TTM)11.8%

SectorConsumer

IndustryPackaged Foods

CountryCH

Data as of2025-12-30

Moat score

57/ 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 Nestle S.A.'s moat claims, evidence, and risks.

View NESN analysis

Novartis AG

NOVN · SIX Swiss Exchange

Market cap (USD)—

Gross margin (TTM)—

Operating margin (TTM)—

Net margin (TTM)—

SectorHealthcare

Industry—

CountryCH

Data as of2026-01-02

Moat score

65/ 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 Novartis AG's moat claims, evidence, and risks.

View NOVN analysis

Comparison highlights

Moat score gap: Novartis AG leads (65 / 100 vs 57 / 100 for Nestle S.A.).
Segment focus: Nestle S.A. has 7 segments (26.9% in Powdered and Liquid Beverages); Novartis AG has 5 segments (29.3% in Oncology).
Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
Moat breadth: Nestle S.A. has 6 moat types across 3 domains; Novartis AG has 4 across 3.

Primary market context

Nestle S.A.

Powdered and Liquid Beverages

Market

Packaged coffee (instant, roast and ground, portioned) and other powdered beverages (cocoa/malt, creamers)

Geography

Global

Customer

Consumers (end-users) via retail and e-commerce; plus out-of-home channels

Role

Branded manufacturer and marketer; system operator for portioned coffee (machines + capsules)

Revenue share

26.9%

Novartis AG

Oncology

Market

Oncology and hematology branded medicines (including targeted therapies and radioligand therapy)

Geography

Global

Customer

Oncologists and hospitals; reimbursed by payers; hospital and specialty pharmacy channels

Role

Originator developer, manufacturer, and marketer of oncology therapies

Revenue share

29.3%

Side-by-side metrics

Nestle S.A.

Novartis AG

Ticker / Exchange

NESN - SIX Swiss Exchange

NOVN - SIX Swiss Exchange

Market cap (USD)

$202.6B

n/a

Gross margin (TTM)

46.8%

n/a

Operating margin (TTM)

15.5%

n/a

Net margin (TTM)

11.8%

n/a

Sector

Consumer

Healthcare

Industry

Packaged Foods

n/a

HQ country

Primary segment

Powdered and Liquid Beverages

Oncology

Market structure

Oligopoly

Market share

25% (reported)

n/a

HHI estimate

n/a

Pricing power

Moderate

Strong

Moat score

57 / 100

65 / 100

Moat domains

Demand, Supply, Legal

Legal, Supply, Demand

Last update

2025-12-30

2026-01-02

Moat coverage

Shared moat types

Brand Trust

Nestle S.A. strengths

Preferential Input AccessInstalled Base ConsumablesLearning Curve YieldDistribution ControlCompliance Advantage

Novartis AG strengths

IP Choke PointRegulated Standards PipeCapex Knowhow Scale

Segment mix

Nestle S.A. segments

Full profile >

Powdered and Liquid Beverages

Oligopoly

26.9%

PetCare

Oligopoly

20.7%

Nutrition and Health Science

Oligopoly

16.6%

Prepared dishes and cooking aids

Competitive

11.7%

Milk products and Ice cream

Competitive

11.4%

Confectionery

Oligopoly

9.2%

Water

Competitive

3.5%

Novartis AG segments

Full profile >

Cardiovascular, Renal and Metabolic

Oligopoly

17%

Immunology

Oligopoly

18.5%

Neuroscience

Oligopoly

9.4%

Oncology

Oligopoly

29.3%

Established Brands

Competitive

25.8%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

View the moat stocks list

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.