VOL. XCIV, NO. 247

* WIDE MOAT STOCKS COMPARISON *

NO ADVICE

Monday, December 29, 2025

Stock Comparison

Rheinmetall Aktiengesellschaft vs Spirax Group plc

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

Rheinmetall Aktiengesellschaft

RHM · Xetra

Market cap (USD)$83.3B
SectorIndustrials
CountryDE
Data as of2025-12-28
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 Rheinmetall Aktiengesellschaft's moat claims, evidence, and risks.

View RHM analysis

Spirax Group plc

SPX · London Stock Exchange

Market cap (USD)$6.7B
SectorIndustrials
CountryGB
Data as of2025-12-28
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 Spirax Group plc's moat claims, evidence, and risks.

View SPX analysis

Comparison highlights

  • Moat score: both at 71 / 100.
  • Segment focus: Rheinmetall Aktiengesellschaft has 4 segments (36.7% in Vehicle Systems); Spirax Group plc has 3 segments (52.1% in Steam Thermal Solutions).
  • Moat breadth: Rheinmetall Aktiengesellschaft has 6 moat types across 3 domains; Spirax Group plc has 6 across 2.

Primary market context

Rheinmetall Aktiengesellschaft

Vehicle Systems

Market

Armored and tactical wheeled/tracked military vehicles

Geography

Global (Europe/NATO weighted)

Customer

Government / military

Revenue share

36.7%

Spirax Group plc

Steam Thermal Solutions

Market

Industrial and commercial steam systems (condensate management, controls, thermal energy management products and solutions)

Geography

Global

Customer

Industrial process operators and commercial facility operators

Role

OEM / solutions provider

Revenue share

52.1%

Side-by-side metrics

Rheinmetall Aktiengesellschaft
Spirax Group plc
Ticker / Exchange
RHM - Xetra
SPX - London Stock Exchange
Market cap (USD)
$83.3B
$6.7B
Sector
Industrials
Industrials
HQ country
DE
GB
Primary segment
Vehicle Systems
Steam Thermal Solutions
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
71 / 100
71 / 100
Moat domains
Legal, Demand, Supply
Supply, Demand
Last update
2025-12-28
2025-12-28

Moat coverage

Shared moat types

Design In Qualification

Rheinmetall Aktiengesellschaft strengths

Government Contracting RelationshipsCapacity MoatSupply Chain ControlLong Term ContractsDistribution Control

Spirax Group plc strengths

Service Field NetworkInstalled Base ConsumablesBrand TrustCapex Knowhow ScaleSuite Bundling

Segment mix

Rheinmetall Aktiengesellschaft segments

Full profile >

Vehicle Systems

Oligopoly

36.7%

Weapon and Ammunition

Oligopoly

26.9%

Electronic Solutions

Oligopoly

16.7%

Power Systems (civilian; planned divestiture)

Competitive

19.7%

Spirax Group plc segments

Full profile >

Steam Thermal Solutions

Oligopoly

52.1%

Electric Thermal Solutions

Competitive

24.3%

Watson-Marlow Fluid Technology Solutions

Oligopoly

23.6%

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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.