VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Roper Technologies, Inc. vs Waters Corporation

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

Roper Technologies, Inc.

ROP · The Nasdaq Stock Market LLC

Market cap (USD)$46.8B
Gross margin (TTM)69%
Operating margin (TTM)28.1%
Net margin (TTM)20.3%
SectorTechnology
IndustryIndustrial - Machinery
CountryUS
Data as of2025-12-30
Moat score
67/ 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 Roper Technologies, Inc.'s moat claims, evidence, and risks.

View ROP 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: Roper Technologies, Inc. leads (67 / 100 vs 66 / 100 for Waters Corporation).
  • Segment focus: Roper Technologies, Inc. has 3 segments (55% in Application Software); Waters Corporation has 4 segments (34.9% in Waters instrument systems).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Roper Technologies, Inc. has 7 moat types across 4 domains; Waters Corporation has 7 across 2.

Primary market context

Roper Technologies, Inc.

Application Software

Market

Vertical application software for niche end markets

Geography

Global

Customer

Businesses, institutions, and public-sector organizations

Role

Software vendor (SaaS, subscriptions, and related services)

Revenue share

55%

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

Roper Technologies, Inc.
Waters Corporation
Ticker / Exchange
ROP - The Nasdaq Stock Market LLC
WAT - New York Stock Exchange
Market cap (USD)
$46.8B
$23.7B
Gross margin (TTM)
69%
n/a
Operating margin (TTM)
28.1%
n/a
Net margin (TTM)
20.3%
n/a
Sector
Technology
Healthcare
Industry
Industrial - Machinery
n/a
HQ country
US
US
Primary segment
Application Software
Waters instrument systems
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
67 / 100
66 / 100
Moat domains
Demand, Legal, Financial, Network
Demand, Supply
Last update
2025-12-30
2026-01-09

Moat coverage

Shared moat types

Data Workflow LockinDesign In Qualification

Roper Technologies, Inc. strengths

Compliance AdvantageNegative Working CapitalTwo Sided NetworkData Network EffectsSwitching Costs General

Waters Corporation strengths

Brand TrustInstalled Base ConsumablesSupply Chain ControlLong Term ContractsService Field Network

Segment mix

Roper Technologies, Inc. segments

Full profile >

Application Software

Oligopoly

55%

Network Software

Oligopoly

21%

Technology Enabled Products

Competitive

24.1%

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.