VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Symrise AG vs Waters Corporation

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

Symrise AG

SY1 · Xetra

Market cap (USD)$9.8B
Gross margin (TTM)40.3%
Operating margin (TTM)0.7%
Net margin (TTM)10.2%
SectorMaterials
IndustryChemicals - Specialty
CountryDE
Data as of2025-12-29
Moat score
69/ 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 Symrise AG's moat claims, evidence, and risks.

View SY1 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: Symrise AG leads (69 / 100 vs 66 / 100 for Waters Corporation).
  • Segment focus: Symrise AG has 2 segments (61.8% in Taste, Nutrition & Health); Waters Corporation has 4 segments (34.9% in Waters instrument systems).
  • Moat breadth: Symrise AG has 5 moat types across 3 domains; Waters Corporation has 7 across 2.

Primary market context

Symrise AG

Taste, Nutrition & Health

Market

Food & beverage flavor ingredients and pet food ingredients

Geography

Global

Customer

B2B (food & beverage, pet food, aquafeed manufacturers)

Role

Ingredient/formulation supplier

Revenue share

61.8%

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

Symrise AG
Waters Corporation
Ticker / Exchange
SY1 - Xetra
WAT - New York Stock Exchange
Market cap (USD)
$9.8B
$23.7B
Gross margin (TTM)
40.3%
n/a
Operating margin (TTM)
0.7%
n/a
Net margin (TTM)
10.2%
n/a
Sector
Materials
Healthcare
Industry
Chemicals - Specialty
n/a
HQ country
DE
US
Primary segment
Taste, Nutrition & Health
Waters instrument systems
Market structure
Oligopoly
Oligopoly
Market share
12%-16% (implied)
n/a
HHI estimate
958
n/a
Pricing power
Moderate
Moderate
Moat score
69 / 100
66 / 100
Moat domains
Demand, Supply, Legal
Demand, Supply
Last update
2025-12-29
2026-01-09

Moat coverage

Shared moat types

Design In Qualification

Symrise AG strengths

Preferential Input AccessScope EconomiesIP Choke PointCapex Knowhow Scale

Waters Corporation strengths

Data Workflow LockinBrand TrustInstalled Base ConsumablesSupply Chain ControlLong Term ContractsService Field Network

Segment mix

Symrise AG segments

Full profile >

Taste, Nutrition & Health

Oligopoly

61.8%

Scent & Care

Oligopoly

38.2%

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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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.