VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Safran vs Watsco, Inc.

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

Safran

SAF · Euronext Paris

Market cap (USD)$131.7B
Gross margin (TTM)32.8%
Operating margin (TTM)14.4%
Net margin (TTM)10.8%
SectorIndustrials
IndustryAerospace & Defense
CountryFR
Data as of2025-12-28
Moat score
74/ 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 Safran's moat claims, evidence, and risks.

View SAF 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: Safran leads (74 / 100 vs 72 / 100 for Watsco, Inc.).
  • Segment focus: Safran has 3 segments (50% in Propulsion); Watsco, Inc. has 1 segment (100% in HVAC/R Distribution).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Strong vs Moderate.
  • Moat breadth: Safran has 8 moat types across 3 domains; Watsco, Inc. has 4 across 3.

Primary market context

Safran

Propulsion

Market

Aircraft propulsion (commercial, military and helicopter engines) and engine aftermarket (spares, MRO, RPFH)

Geography

Global

Customer

Aircraft OEMs, airlines/lessors, MRO operators, and militaries

Role

Engine OEM + aftermarket service provider (incl. CFM JV participation)

Revenue share

50%

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

Safran
Watsco, Inc.
Ticker / Exchange
SAF - Euronext Paris
WSO - New York Stock Exchange
Market cap (USD)
$131.7B
$14.4B
Gross margin (TTM)
32.8%
28.3%
Operating margin (TTM)
14.4%
10.2%
Net margin (TTM)
10.8%
7.4%
Sector
Industrials
Industrials
Industry
Aerospace & Defense
Industrial - Distribution
HQ country
FR
US
Primary segment
Propulsion
HVAC/R Distribution
Market structure
Oligopoly
Competitive
Market share
n/a
9%-12% (implied)
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
74 / 100
72 / 100
Moat domains
Demand, Supply, Legal
Supply, Legal, Demand
Last update
2025-12-28
2026-01-05

Moat coverage

Shared moat types

No overlap yet.

Safran strengths

Installed Base ConsumablesLong Term ContractsCapex Knowhow ScaleRegulated Standards PipeDesign In QualificationService Field NetworkGovernment Contracting RelationshipsOperational Excellence

Watsco, Inc. strengths

Physical Network DensityContractual ExclusivityScale Economies Unit CostData Workflow Lockin

Segment mix

Safran segments

Full profile >

Propulsion

Oligopoly

50%

Equipment & Defense

Oligopoly

38.9%

Aircraft Interiors

Competitive

11.1%

Watsco, Inc. segments

Full profile >

HVAC/R Distribution

Competitive

100%

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.