VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Old Dominion Freight Line, Inc. vs Waters Corporation

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

Old Dominion Freight Line, Inc.

ODFL · NASDAQ

Market cap (USD)$36.2B
Gross margin (TTM)33%
Operating margin (TTM)25%
Net margin (TTM)19%
SectorIndustrials
IndustryTrucking
CountryUS
Data as of2026-01-06
Moat score
70/ 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 Old Dominion Freight Line, Inc.'s moat claims, evidence, and risks.

View ODFL analysis

Waters Corporation

WAT · New York Stock Exchange

Market cap (USD)$23.7B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorHealthcare
Industry
CountryUS
Data as of2026-01-09
Moat score
66/ 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 Waters Corporation's moat claims, evidence, and risks.

View WAT analysis

Comparison highlights

  • Moat score gap: Old Dominion Freight Line, Inc. leads (70 / 100 vs 66 / 100 for Waters Corporation).
  • Segment focus: Old Dominion Freight Line, Inc. has 2 segments (99.1% in LTL Services); Waters Corporation has 4 segments (34.9% in Waters instrument systems).
  • Moat breadth: Old Dominion Freight Line, Inc. has 6 moat types across 2 domains; Waters Corporation has 7 across 2.

Primary market context

Old Dominion Freight Line, Inc.

LTL Services

Market

Less-than-truckload (LTL) freight transportation

Geography

United States (primarily); broader North America via alliances

Customer

B2B shippers

Role

Asset-based carrier (pickup, linehaul, delivery)

Revenue share

99.1%

Waters Corporation

Waters instrument systems

Market

Liquid chromatography (LC/UPLC) and mass spectrometry (MS) analytical instrument systems (including LC-MS workflows and instrument control/data system software)

Geography

Global

Customer

Pharma/biotech, industrial, academic and government laboratories

Role

OEM + software/platform provider

Revenue share

34.9%

Side-by-side metrics

Old Dominion Freight Line, Inc.
Waters Corporation
Ticker / Exchange
ODFL - NASDAQ
WAT - New York Stock Exchange
Market cap (USD)
$36.2B
$23.7B
Gross margin (TTM)
33%
n/a
Operating margin (TTM)
25%
n/a
Net margin (TTM)
19%
n/a
Sector
Industrials
Healthcare
Industry
Trucking
n/a
HQ country
US
US
Primary segment
LTL Services
Waters instrument systems
Market structure
Oligopoly
Oligopoly
Market share
11%-13% (implied)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
70 / 100
66 / 100
Moat domains
Supply, Demand
Demand, Supply
Last update
2026-01-06
2026-01-09

Moat coverage

Shared moat types

Brand TrustData Workflow Lockin

Old Dominion Freight Line, Inc. strengths

Physical Network DensityOperational ExcellenceScale Economies Unit CostSuite Bundling

Waters Corporation strengths

Design In QualificationInstalled Base ConsumablesSupply Chain ControlLong Term ContractsService Field Network

Segment mix

Old Dominion Freight Line, Inc. segments

Full profile >

LTL Services

Oligopoly

99.1%

Other Services (Drayage, Brokerage, Supply Chain Consulting)

Competitive

0.9%

Waters Corporation segments

Full profile >

Waters instrument systems

Oligopoly

34.9%

Chemistry consumables

Competitive

19.1%

Waters service & software maintenance

Competitive

34%

TA instrument systems & service

Oligopoly

12%

Want the full wide moat stocks list?

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Proven models entering the expansion stage with unit economics that work.

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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.