VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Parker-Hannifin Corporation vs Waters Corporation

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

Parker-Hannifin Corporation

PH · New York Stock Exchange

Market cap (USD)$117.7B
Gross margin (TTM)37.1%
Operating margin (TTM)20.8%
Net margin (TTM)18.2%
SectorIndustrials
IndustryIndustrial - Machinery
CountryUS
Data as of2025-12-31
Moat score
71/ 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 Parker-Hannifin Corporation's moat claims, evidence, and risks.

View PH 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: Parker-Hannifin Corporation leads (71 / 100 vs 66 / 100 for Waters Corporation).
  • Segment focus: Parker-Hannifin Corporation has 2 segments (68.8% in Diversified Industrial); Waters Corporation has 4 segments (34.9% in Waters instrument systems).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Parker-Hannifin Corporation has 5 moat types across 2 domains; Waters Corporation has 7 across 2.

Primary market context

Parker-Hannifin Corporation

Diversified Industrial

Market

Motion and control components & systems (industrial and mobile applications)

Geography

Global

Customer

OEMs and industrial distributors/aftermarket channels

Role

Component and system designer/manufacturer with aftermarket support

Revenue share

68.8%

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

Parker-Hannifin Corporation
Waters Corporation
Ticker / Exchange
PH - New York Stock Exchange
WAT - New York Stock Exchange
Market cap (USD)
$117.7B
$23.7B
Gross margin (TTM)
37.1%
n/a
Operating margin (TTM)
20.8%
n/a
Net margin (TTM)
18.2%
n/a
Sector
Industrials
Healthcare
Industry
Industrial - Machinery
n/a
HQ country
US
US
Primary segment
Diversified Industrial
Waters instrument systems
Market structure
Competitive
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
71 / 100
66 / 100
Moat domains
Supply, Demand
Demand, Supply
Last update
2025-12-31
2026-01-09

Moat coverage

Shared moat types

Design In QualificationInstalled Base Consumables

Parker-Hannifin Corporation strengths

Distribution ControlScope EconomiesOperational Excellence

Waters Corporation strengths

Data Workflow LockinBrand TrustSupply Chain ControlLong Term ContractsService Field Network

Segment mix

Parker-Hannifin Corporation segments

Full profile >

Diversified Industrial

Competitive

68.8%

Aerospace Systems

Oligopoly

31.2%

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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Looking for expansion-stage stocks?

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.