VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Pernod Ricard SA vs Waters Corporation

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

Pernod Ricard SA

RI · Euronext Paris

Market cap (USD)$18.8B
Gross margin (TTM)59.8%
Operating margin (TTM)11.5%
Net margin (TTM)13.8%
SectorConsumer
IndustryBeverages - Wineries & Distilleries
CountryFR
Data as of2025-12-29
Moat score
75/ 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 Pernod Ricard SA's moat claims, evidence, and risks.

View RI 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: Pernod Ricard SA leads (75 / 100 vs 66 / 100 for Waters Corporation).
  • Segment focus: Pernod Ricard SA has 3 segments (42.3% in Asia/Rest of the World); Waters Corporation has 4 segments (34.9% in Waters instrument systems).
  • Moat breadth: Pernod Ricard SA has 4 moat types across 2 domains; Waters Corporation has 7 across 2.

Primary market context

Pernod Ricard SA

Asia/Rest of the World

Market

Premium spirits brand ownership, marketing, and distribution

Geography

Asia-Pacific, Africa, and other emerging markets

Customer

On-trade, off-trade, distributors, and duty-free operators

Role

Brand owner and local-market route-to-market operator

Revenue share

42.3%

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

Pernod Ricard SA
Waters Corporation
Ticker / Exchange
RI - Euronext Paris
WAT - New York Stock Exchange
Market cap (USD)
$18.8B
$23.7B
Gross margin (TTM)
59.8%
n/a
Operating margin (TTM)
11.5%
n/a
Net margin (TTM)
13.8%
n/a
Sector
Consumer
Healthcare
Industry
Beverages - Wineries & Distilleries
n/a
HQ country
FR
US
Primary segment
Asia/Rest of the World
Waters instrument systems
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
75 / 100
66 / 100
Moat domains
Demand, Supply
Demand, Supply
Last update
2025-12-29
2026-01-09

Moat coverage

Shared moat types

Brand Trust

Pernod Ricard SA strengths

Scope EconomiesCapacity MoatDistribution Control

Waters Corporation strengths

Data Workflow LockinDesign In QualificationInstalled Base ConsumablesSupply Chain ControlLong Term ContractsService Field Network

Segment mix

Pernod Ricard SA segments

Full profile >

Europe

Oligopoly

28.9%

Americas

Oligopoly

28.8%

Asia/Rest of the World

Oligopoly

42.3%

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.