VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Friday, January 2, 2026

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Stock Comparison

Novartis AG vs S&P Global Inc.

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

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

S&P Global Inc.

SPGI · New York Stock Exchange

Market cap (USD)$156.2B

Gross margin (TTM)70%

Operating margin (TTM)40.7%

Net margin (TTM)27.5%

SectorFinancials

IndustryFinancial - Data & Stock Exchanges

CountryUS

Data as of2025-12-21

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 S&P Global Inc.'s moat claims, evidence, and risks.

View SPGI analysis

Comparison highlights

Moat score gap: S&P Global Inc. leads (77 / 100 vs 65 / 100 for Novartis AG).
Segment focus: Novartis AG has 5 segments (29.3% in Oncology); S&P Global Inc. has 5 segments (32.6% in S&P Global Market Intelligence).
Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
Moat breadth: Novartis AG has 4 moat types across 3 domains; S&P Global Inc. has 9 across 5.

Primary market context

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%

S&P Global Inc.

S&P Global Market Intelligence

Market

Financial market data, analytics, and workflow tools for institutions

Geography

Global

Customer

B2B (institutional investors, banks, insurers, corporates)

Role

Data/analytics and workflow software provider

Revenue share

32.6%

Side-by-side metrics

Novartis AG

S&P Global Inc.

Ticker / Exchange

NOVN - SIX Swiss Exchange

SPGI - New York Stock Exchange

Market cap (USD)

n/a

$156.2B

Gross margin (TTM)

n/a

70%

Operating margin (TTM)

n/a

40.7%

Net margin (TTM)

n/a

27.5%

Sector

Healthcare

Financials

Industry

n/a

Financial - Data & Stock Exchanges

HQ country

Primary segment

Oncology

S&P Global Market Intelligence

Market structure

Oligopoly

Market share

n/a

HHI estimate

n/a

Pricing power

Strong

Moderate

Moat score

65 / 100

77 / 100

Moat domains

Legal, Supply, Demand

Demand, Supply, Legal, Network, Financial

Last update

2026-01-02

2025-12-21

Moat coverage

Shared moat types

Regulated Standards PipeBrand Trust

Novartis AG strengths

IP Choke PointCapex Knowhow Scale

S&P Global Inc. strengths

Data Workflow LockinScope EconomiesDe Facto StandardCompliance AdvantageSwitching Costs GeneralEcosystem ComplementsBenchmark Pricing Power

Segment mix

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%

S&P Global Inc. segments

Full profile >

S&P Global Market Intelligence

Oligopoly

32.6%

S&P Global Ratings

Oligopoly

29.6%

S&P Global Commodity Insights

Oligopoly

15.1%

S&P Global Mobility

Competitive

11.3%

S&P Dow Jones Indices

Oligopoly

11.4%

Want the full wide moat stocks list?

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

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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.