VOL. XCIV, NO. 247

* WIDE MOAT STOCKS COMPARISON *

NO ADVICE

Monday, December 29, 2025

Stock Comparison

Spirax Group plc vs Thermo Fisher Scientific Inc.

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)$6.7B
SectorIndustrials
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

Thermo Fisher Scientific Inc.

TMO · New York Stock Exchange

Market cap (USD)$213.3B
SectorHealthcare
CountryUS
Data as of2025-12-22
Moat score
64/ 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 Thermo Fisher Scientific Inc.'s moat claims, evidence, and risks.

View TMO analysis

Comparison highlights

  • Moat score gap: Spirax Group plc leads (71 / 100 vs 64 / 100 for Thermo Fisher Scientific Inc.).
  • Segment focus: Spirax Group plc has 3 segments (52.1% in Steam Thermal Solutions); Thermo Fisher Scientific Inc. has 4 segments (53.6% in Laboratory Products and Biopharma Services).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Spirax Group plc has 6 moat types across 2 domains; Thermo Fisher Scientific Inc. 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%

Thermo Fisher Scientific Inc.

Laboratory Products and Biopharma Services

Market

Laboratory supplies distribution/market channel plus outsourced biopharma services (CDMO/CRO)

Geography

Global

Customer

Pharma & biotech; academic/government labs; industrial and clinical laboratories

Role

Distributor/market channel and outsourced services provider

Revenue share

53.6%

Side-by-side metrics

Spirax Group plc
Thermo Fisher Scientific Inc.
Ticker / Exchange
SPX - London Stock Exchange
TMO - New York Stock Exchange
Market cap (USD)
$6.7B
$213.3B
Sector
Industrials
Healthcare
HQ country
GB
US
Primary segment
Steam Thermal Solutions
Laboratory Products and Biopharma Services
Market structure
Oligopoly
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
71 / 100
64 / 100
Moat domains
Supply, Demand
Demand, Supply, Legal
Last update
2025-12-28
2025-12-22

Moat coverage

Shared moat types

Service Field NetworkInstalled Base ConsumablesBrand Trust

Spirax Group plc strengths

Capex Knowhow ScaleDesign In QualificationSuite Bundling

Thermo Fisher Scientific Inc. strengths

Format Lock InRegulated Standards PipeDistribution ControlProcurement InertiaCapacity Moat

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%

Thermo Fisher Scientific Inc. segments

Full profile >

Life Sciences Solutions

Oligopoly

19%

Analytical Instruments

Oligopoly

17%

Specialty Diagnostics

Oligopoly

10.4%

Laboratory Products and Biopharma Services

Competitive

53.6%

Want the full wide moat stocks list?

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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.