VOL. XCIV, NO. 247

* WIDE MOAT STOCKS COMPARISON *

NO ADVICE

Monday, December 29, 2025

Stock Comparison

Northrop Grumman Corporation vs Spirax Group plc

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

Northrop Grumman Corporation

NOC · New York Stock Exchange

Market cap (USD)$83.1B
SectorIndustrials
CountryUS
Data as of2025-12-26
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 Northrop Grumman Corporation's moat claims, evidence, and risks.

View NOC analysis

Spirax Group plc

SPX · London Stock Exchange

Market cap (USD)$6.7B
SectorIndustrials
CountryGB
Data as of2025-12-28
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 Spirax Group plc's moat claims, evidence, and risks.

View SPX analysis

Comparison highlights

  • Moat score gap: Northrop Grumman Corporation leads (72 / 100 vs 71 / 100 for Spirax Group plc).
  • Segment focus: Northrop Grumman Corporation has 4 segments (28.7% in Aeronautics Systems); Spirax Group plc has 3 segments (52.1% in Steam Thermal Solutions).
  • Moat breadth: Northrop Grumman Corporation has 6 moat types across 3 domains; Spirax Group plc has 6 across 2.

Primary market context

Northrop Grumman Corporation

Aeronautics Systems

Market

Military aircraft systems (manned & unmanned) plus sustainment/modernization

Geography

Global (primarily United States and allies)

Customer

U.S. government and allied governments

Role

Prime contractor and major subsystem supplier

Revenue share

28.7%

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

52.1%

Side-by-side metrics

Northrop Grumman Corporation
Spirax Group plc
Ticker / Exchange
NOC - New York Stock Exchange
SPX - London Stock Exchange
Market cap (USD)
$83.1B
$6.7B
Sector
Industrials
Industrials
HQ country
US
GB
Primary segment
Aeronautics Systems
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
72 / 100
71 / 100
Moat domains
Legal, Demand, Supply
Supply, Demand
Last update
2025-12-26
2025-12-28

Moat coverage

Shared moat types

Design In QualificationCapex Knowhow Scale

Northrop Grumman Corporation strengths

Government Contracting RelationshipsCompliance AdvantageCapacity MoatSwitching Costs General

Spirax Group plc strengths

Service Field NetworkInstalled Base ConsumablesBrand TrustSuite Bundling

Segment mix

Northrop Grumman Corporation segments

Full profile >

Aeronautics Systems

Oligopoly

28.7%

Defense Systems

Oligopoly

18.8%

Mission Systems

Oligopoly

24.9%

Space Systems

Oligopoly

27.6%

Spirax Group plc segments

Full profile >

Steam Thermal Solutions

Oligopoly

52.1%

Electric Thermal Solutions

Competitive

24.3%

Watson-Marlow Fluid Technology Solutions

Oligopoly

23.6%

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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.