VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Tuesday, December 30, 2025

Stock Comparison

Novo Nordisk A/S vs SAP SE

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

Novo Nordisk A/S

NOVOB · Nasdaq Copenhagen

Market cap (USD)$232.3B
SectorHealthcare
CountryDK
Data as of2025-12-28
Moat score
85/ 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 Novo Nordisk A/S's moat claims, evidence, and risks.

View NOVOB analysis

SAP SE

SAP · XETRA

Market cap (USD)$285.7B
SectorTechnology
CountryDE
Data as of2025-12-30
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 SAP SE's moat claims, evidence, and risks.

View SAP analysis

Comparison highlights

  • Moat score gap: Novo Nordisk A/S leads (85 / 100 vs 65 / 100 for SAP SE).
  • Segment focus: Novo Nordisk A/S has 3 segments (71.1% in Diabetes care); SAP SE has 2 segments (87.3% in Cloud and Software).
  • Moat breadth: Novo Nordisk A/S has 5 moat types across 3 domains; SAP SE has 6 across 3.

Primary market context

Novo Nordisk A/S

Diabetes care

Market

Diabetes pharmaceuticals (GLP-1 for type 2 diabetes, insulin, and related therapies)

Geography

Global

Customer

Payers/providers and patients (via wholesalers/pharmacies/hospitals)

Role

Originator pharma (R&D, regulatory, manufacturing, commercialization)

Revenue share

71.1%

SAP SE

Cloud and Software

Market

Enterprise application software suites and cloud subscriptions (ERP-centric) plus platform services

Geography

Global

Customer

Large enterprises and upper mid-market

Role

Software vendor (SaaS + on-prem support + platform)

Revenue share

87.3%

Side-by-side metrics

Novo Nordisk A/S
SAP SE
Ticker / Exchange
NOVOB - Nasdaq Copenhagen
SAP - XETRA
Market cap (USD)
$232.3B
$285.7B
Sector
Healthcare
Technology
HQ country
DK
DE
Primary segment
Diabetes care
Cloud and Software
Market structure
Oligopoly
Oligopoly
Market share
33.7% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
85 / 100
65 / 100
Moat domains
Legal, Supply, Demand
Demand, Network, Legal
Last update
2025-12-28
2025-12-30

Moat coverage

Shared moat types

Brand Trust

Novo Nordisk A/S strengths

IP Choke PointRegulated Standards PipeCapacity MoatLearning Curve Yield

SAP SE strengths

Data Workflow LockinSuite BundlingEcosystem ComplementsLong Term ContractsCompliance Advantage

Segment mix

Novo Nordisk A/S segments

Full profile >

Diabetes care

Oligopoly

71.1%

Obesity care

Duopoly

22.4%

Rare disease

Oligopoly

6.4%

SAP SE segments

Full profile >

Cloud and Software

Oligopoly

87.3%

Services

Competitive

12.7%

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.