VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Thomson Reuters Corporation vs Watsco, Inc.

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

Thomson Reuters Corporation

TRI · Toronto Stock Exchange

Market cap (USD)$80.2B
Gross margin (TTM)88.6%
Operating margin (TTM)33.9%
Net margin (TTM)23.8%
SectorIndustrials
IndustrySpecialty Business Services
CountryCA
Data as of2025-12-30
Moat score
84/ 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 Thomson Reuters Corporation's moat claims, evidence, and risks.

View TRI 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: Thomson Reuters Corporation leads (84 / 100 vs 72 / 100 for Watsco, Inc.).
  • Segment focus: Thomson Reuters Corporation has 5 segments (40.1% in Legal Professionals); Watsco, Inc. has 1 segment (100% in HVAC/R Distribution).
  • Primary market structure: Duopoly vs Competitive. Pricing power: Strong vs Moderate.
  • Moat breadth: Thomson Reuters Corporation has 4 moat types across 3 domains; Watsco, Inc. has 4 across 3.

Primary market context

Thomson Reuters Corporation

Legal Professionals

Market

Legal research and legal workflow software

Geography

Global

Customer

Law firms, corporate legal departments, and governments

Role

Subscription software + proprietary legal content

Revenue share

40.1%

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

Thomson Reuters Corporation
Watsco, Inc.
Ticker / Exchange
TRI - Toronto Stock Exchange
WSO - New York Stock Exchange
Market cap (USD)
$80.2B
$14.4B
Gross margin (TTM)
88.6%
28.3%
Operating margin (TTM)
33.9%
10.2%
Net margin (TTM)
23.8%
7.4%
Sector
Industrials
Industrials
Industry
Specialty Business Services
Industrial - Distribution
HQ country
CA
US
Primary segment
Legal Professionals
HVAC/R Distribution
Market structure
Duopoly
Competitive
Market share
n/a
9%-12% (implied)
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
84 / 100
72 / 100
Moat domains
Demand, Legal, Supply
Supply, Legal, Demand
Last update
2025-12-30
2026-01-05

Moat coverage

Shared moat types

Data Workflow LockinScale Economies Unit Cost

Thomson Reuters Corporation strengths

Regulated Standards PipeBrand Trust

Watsco, Inc. strengths

Physical Network DensityContractual Exclusivity

Segment mix

Thomson Reuters Corporation segments

Full profile >

Legal Professionals

Duopoly

40.1%

Corporates

Oligopoly

25.3%

Tax & Accounting Professionals

Oligopoly

16%

Reuters News

Oligopoly

11.4%

Global Print

Competitive

7.1%

Watsco, Inc. segments

Full profile >

HVAC/R Distribution

Competitive

100%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

View the moat stocks list

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.