VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Friday, January 2, 2026

Stock Comparison

Novartis AG vs Thomson Reuters Corporation

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

Thomson Reuters Corporation

TRI · Toronto Stock Exchange

Market cap (USD)$79.6B
Gross margin (TTM)88.6%
Operating margin (TTM)33.9%
Net margin (TTM)23.8%
SectorIndustrials
IndustrySpecialty Business Services
CountryCA
Data as of2025-12-30
Moat score
84/ 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 Thomson Reuters Corporation's moat claims, evidence, and risks.

View TRI analysis

Comparison highlights

  • Moat score gap: Thomson Reuters Corporation leads (84 / 100 vs 65 / 100 for Novartis AG).
  • Segment focus: Novartis AG has 5 segments (29.3% in Oncology); Thomson Reuters Corporation has 5 segments (40.1% in Legal Professionals).
  • Primary market structure: Oligopoly vs Duopoly. Pricing power: Strong vs Strong.
  • Moat breadth: Novartis AG has 4 moat types across 3 domains; Thomson Reuters Corporation has 4 across 3.

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%

Thomson Reuters Corporation

Legal Professionals

Market

Legal research and legal workflow software

Geography

Global

Customer

Law firms, corporate legal departments, and governments

Role

Subscription software + proprietary legal content

Revenue share

40.1%

Side-by-side metrics

Novartis AG
Thomson Reuters Corporation
Ticker / Exchange
NOVN - SIX Swiss Exchange
TRI - Toronto Stock Exchange
Market cap (USD)
n/a
$79.6B
Gross margin (TTM)
n/a
88.6%
Operating margin (TTM)
n/a
33.9%
Net margin (TTM)
n/a
23.8%
Sector
Healthcare
Industrials
Industry
n/a
Specialty Business Services
HQ country
CH
CA
Primary segment
Oncology
Legal Professionals
Market structure
Oligopoly
Duopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Strong
Moat score
65 / 100
84 / 100
Moat domains
Legal, Supply, Demand
Demand, Legal, Supply
Last update
2026-01-02
2025-12-30

Moat coverage

Shared moat types

Regulated Standards PipeBrand Trust

Novartis AG strengths

IP Choke PointCapex Knowhow Scale

Thomson Reuters Corporation strengths

Data Workflow LockinScale Economies Unit Cost

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%

Thomson Reuters Corporation segments

Full profile >

Legal Professionals

Duopoly

40.1%

Corporates

Oligopoly

25.3%

Tax & Accounting Professionals

Oligopoly

16%

Reuters News

Oligopoly

11.4%

Global Print

Competitive

7.1%

Want the full wide moat stocks list?

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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.