VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Spirax Group plc vs Stevanato Group S.p.A.

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

Spirax Group plc

SPX · London Stock Exchange

Market cap (USD)$5B
Gross margin (TTM)19.6%
Operating margin (TTM)17.2%
Net margin (TTM)10.7%
SectorIndustrials
IndustryIndustrial - Machinery
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

Stevanato Group S.p.A.

STVN · New York Stock Exchange

Market cap (USD)$5.7B
Gross margin (TTM)28.6%
Operating margin (TTM)16.7%
Net margin (TTM)12%
SectorHealthcare
IndustryMedical - Instruments & Supplies
CountryIT
Data as of2026-01-05
Moat score
59/ 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 Stevanato Group S.p.A.'s moat claims, evidence, and risks.

View STVN analysis

Comparison highlights

  • Moat score gap: Spirax Group plc leads (71 / 100 vs 59 / 100 for Stevanato Group S.p.A.).
  • Segment focus: Spirax Group plc has 3 segments (52.1% in Steam Thermal Solutions); Stevanato Group S.p.A. has 3 segments (46.3% in Other Containment and Delivery Solutions).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Weak.
  • Moat breadth: Spirax Group plc has 6 moat types across 2 domains; Stevanato Group S.p.A. has 8 across 3.

Primary market context

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%

Stevanato Group S.p.A.

Other Containment and Delivery Solutions

Market

Standard primary packaging and related services for injectable drugs and diagnostics

Geography

Global

Customer

Pharmaceutical, biotechnology, diagnostics and life sciences companies; fill-finish CMOs

Role

Primary packaging/component manufacturer and contract manufacturing partner

Revenue share

46.3%

Side-by-side metrics

Spirax Group plc
Stevanato Group S.p.A.
Ticker / Exchange
SPX - London Stock Exchange
STVN - New York Stock Exchange
Market cap (USD)
$5B
$5.7B
Gross margin (TTM)
19.6%
28.6%
Operating margin (TTM)
17.2%
16.7%
Net margin (TTM)
10.7%
12%
Sector
Industrials
Healthcare
Industry
Industrial - Machinery
Medical - Instruments & Supplies
HQ country
GB
IT
Primary segment
Steam Thermal Solutions
Other Containment and Delivery Solutions
Market structure
Oligopoly
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Weak
Moat score
71 / 100
59 / 100
Moat domains
Supply, Demand
Demand, Supply, Network
Last update
2025-12-28
2026-01-05

Moat coverage

Shared moat types

Service Field NetworkBrand TrustCapex Knowhow ScaleDesign In Qualification

Spirax Group plc strengths

Installed Base ConsumablesSuite Bundling

Stevanato Group S.p.A. strengths

De Facto StandardLong Term ContractsOperational ExcellenceScope Economies

Segment mix

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%

Stevanato Group S.p.A. segments

Full profile >

High-Value Solutions

Oligopoly

38.3%

Other Containment and Delivery Solutions

Competitive

46.3%

Engineering

Competitive

15.4%

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.