VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Thermo Fisher Scientific Inc. vs Watsco, Inc.

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

Thermo Fisher Scientific Inc.

TMO · New York Stock Exchange

Market cap (USD)$231.6B
Gross margin (TTM)39.8%
Operating margin (TTM)18.2%
Net margin (TTM)15%
SectorHealthcare
IndustryMedical - Diagnostics & Research
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

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: Watsco, Inc. leads (72 / 100 vs 64 / 100 for Thermo Fisher Scientific Inc.).
  • Segment focus: Thermo Fisher Scientific Inc. has 4 segments (53.6% in Laboratory Products and Biopharma Services); Watsco, Inc. has 1 segment (100% in HVAC/R Distribution).
  • Moat breadth: Thermo Fisher Scientific Inc. has 8 moat types across 3 domains; Watsco, Inc. has 4 across 3.

Primary market context

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%

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

Thermo Fisher Scientific Inc.
Watsco, Inc.
Ticker / Exchange
TMO - New York Stock Exchange
WSO - New York Stock Exchange
Market cap (USD)
$231.6B
$14.4B
Gross margin (TTM)
39.8%
28.3%
Operating margin (TTM)
18.2%
10.2%
Net margin (TTM)
15%
7.4%
Sector
Healthcare
Industrials
Industry
Medical - Diagnostics & Research
Industrial - Distribution
HQ country
US
US
Primary segment
Laboratory Products and Biopharma Services
HVAC/R Distribution
Market structure
Competitive
Competitive
Market share
n/a
9%-12% (implied)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
64 / 100
72 / 100
Moat domains
Demand, Supply, Legal
Supply, Legal, Demand
Last update
2025-12-22
2026-01-05

Moat coverage

Shared moat types

No overlap yet.

Thermo Fisher Scientific Inc. strengths

Installed Base ConsumablesFormat Lock InBrand TrustService Field NetworkRegulated Standards PipeDistribution ControlProcurement InertiaCapacity Moat

Watsco, Inc. strengths

Physical Network DensityContractual ExclusivityScale Economies Unit CostData Workflow Lockin

Segment mix

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%

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.