VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Republic Services, Inc. vs Watsco, Inc.

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

Republic Services, Inc.

RSG · New York Stock Exchange

Market cap (USD)$66.6B
Gross margin (TTM)30.6%
Operating margin (TTM)20.1%
Net margin (TTM)12.8%
SectorIndustrials
IndustryWaste Management
CountryUS
Data as of2025-12-31
Moat score
80/ 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 Republic Services, Inc.'s moat claims, evidence, and risks.

View RSG analysis

Watsco, Inc.

WSO · New York Stock Exchange

Market cap (USD)$14.4B
Gross margin (TTM)28.3%
Operating margin (TTM)10.2%
Net margin (TTM)7.4%
SectorIndustrials
IndustryIndustrial - Distribution
CountryUS
Data as of2026-01-05
Moat score
72/ 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 Watsco, Inc.'s moat claims, evidence, and risks.

View WSO analysis

Comparison highlights

  • Moat score gap: Republic Services, Inc. leads (80 / 100 vs 72 / 100 for Watsco, Inc.).
  • Segment focus: Republic Services, Inc. has 2 segments (88.5% in Recycling & Waste Services); Watsco, Inc. has 1 segment (100% in HVAC/R Distribution).
  • Moat breadth: Republic Services, Inc. has 7 moat types across 3 domains; Watsco, Inc. has 4 across 3.

Primary market context

Republic Services, Inc.

Recycling & Waste Services

Market

Integrated non-hazardous solid waste collection, transfer, landfill disposal & recycling services

Geography

United States and Canada

Customer

Municipal, commercial, industrial

Role

Integrated hauler and disposal operator

Revenue share

88.5%

Watsco, Inc.

HVAC/R Distribution

Market

HVAC/R equipment, parts and supplies distribution

Geography

North America (U.S., Canada, Mexico, Puerto Rico; export to Latin America/Caribbean)

Customer

Licensed HVAC and refrigeration contractors (residential & commercial)

Role

Wholesale distributor

Revenue share

100%

Side-by-side metrics

Republic Services, Inc.
Watsco, Inc.
Ticker / Exchange
RSG - New York Stock Exchange
WSO - New York Stock Exchange
Market cap (USD)
$66.6B
$14.4B
Gross margin (TTM)
30.6%
28.3%
Operating margin (TTM)
20.1%
10.2%
Net margin (TTM)
12.8%
7.4%
Sector
Industrials
Industrials
Industry
Waste Management
Industrial - Distribution
HQ country
US
US
Primary segment
Recycling & Waste Services
HVAC/R Distribution
Market structure
Competitive
Competitive
Market share
12%-15% (implied)
9%-12% (implied)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
80 / 100
72 / 100
Moat domains
Legal, Supply, Demand
Supply, Legal, Demand
Last update
2025-12-31
2026-01-05

Moat coverage

Shared moat types

Physical Network Density

Republic Services, Inc. strengths

Permits Rights Of WayCapacity MoatScope EconomiesLong Term ContractsCompliance AdvantageService Field Network

Watsco, Inc. strengths

Contractual ExclusivityScale Economies Unit CostData Workflow Lockin

Segment mix

Republic Services, Inc. segments

Full profile >

Recycling & Waste Services

Competitive

88.5%

Environmental Solutions

Competitive

11.5%

Watsco, Inc. segments

Full profile >

HVAC/R Distribution

Competitive

100%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

View the moat stocks list

Looking for expansion-stage stocks?

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

View expansion-stage stocks

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.