VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Monday, December 29, 2025

Stock Comparison

Novo Nordisk A/S vs Thermo Fisher Scientific Inc.

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

Thermo Fisher Scientific Inc.

TMO · New York Stock Exchange

Market cap (USD)$213.3B
SectorHealthcare
CountryUS
Data as of2025-12-22
Moat score
64/ 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 Thermo Fisher Scientific Inc.'s moat claims, evidence, and risks.

View TMO analysis

Comparison highlights

  • Moat score gap: Novo Nordisk A/S leads (85 / 100 vs 64 / 100 for Thermo Fisher Scientific Inc.).
  • Segment focus: Novo Nordisk A/S has 3 segments (71.1% in Diabetes care); Thermo Fisher Scientific Inc. has 4 segments (53.6% in Laboratory Products and Biopharma Services).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Novo Nordisk A/S has 5 moat types across 3 domains; Thermo Fisher Scientific Inc. has 8 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%

Thermo Fisher Scientific Inc.

Laboratory Products and Biopharma Services

Market

Laboratory supplies distribution/market channel plus outsourced biopharma services (CDMO/CRO)

Geography

Global

Customer

Pharma & biotech; academic/government labs; industrial and clinical laboratories

Role

Distributor/market channel and outsourced services provider

Revenue share

53.6%

Side-by-side metrics

Novo Nordisk A/S
Thermo Fisher Scientific Inc.
Ticker / Exchange
NOVOB - Nasdaq Copenhagen
TMO - New York Stock Exchange
Market cap (USD)
$232.3B
$213.3B
Sector
Healthcare
Healthcare
HQ country
DK
US
Primary segment
Diabetes care
Laboratory Products and Biopharma Services
Market structure
Oligopoly
Competitive
Market share
33.7% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
85 / 100
64 / 100
Moat domains
Legal, Supply, Demand
Demand, Supply, Legal
Last update
2025-12-28
2025-12-22

Moat coverage

Shared moat types

Regulated Standards PipeCapacity MoatBrand Trust

Novo Nordisk A/S strengths

IP Choke PointLearning Curve Yield

Thermo Fisher Scientific Inc. strengths

Installed Base ConsumablesFormat Lock InService Field NetworkDistribution ControlProcurement Inertia

Segment mix

Novo Nordisk A/S segments

Full profile >

Diabetes care

Oligopoly

71.1%

Obesity care

Duopoly

22.4%

Rare disease

Oligopoly

6.4%

Thermo Fisher Scientific Inc. segments

Full profile >

Life Sciences Solutions

Oligopoly

19%

Analytical Instruments

Oligopoly

17%

Specialty Diagnostics

Oligopoly

10.4%

Laboratory Products and Biopharma Services

Competitive

53.6%

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.