VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

UnitedHealth Group Incorporated vs Watsco, Inc.

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

UnitedHealth Group Incorporated

UNH · New York Stock Exchange

Market cap (USD)$309.8B
Gross margin (TTM)19.7%
Operating margin (TTM)6.1%
Net margin (TTM)4%
SectorHealthcare
IndustryMedical - Healthcare Plans
CountryUS
Data as of2025-12-31
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 UnitedHealth Group Incorporated's moat claims, evidence, and risks.

View UNH 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 UnitedHealth Group Incorporated).
  • Segment focus: UnitedHealth Group Incorporated has 4 segments (74.9% in UnitedHealthcare); Watsco, Inc. has 1 segment (100% in HVAC/R Distribution).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Weak vs Moderate.
  • Moat breadth: UnitedHealth Group Incorporated has 5 moat types across 2 domains; Watsco, Inc. has 4 across 3.

Primary market context

UnitedHealth Group Incorporated

UnitedHealthcare

Market

U.S. health benefits / managed care (commercial, Medicare Advantage, Medicaid managed care)

Geography

United States (primarily)

Customer

Employers, individuals, and government-sponsored programs

Role

Health insurer / managed care organization

Revenue share

74.9%

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

UnitedHealth Group Incorporated
Watsco, Inc.
Ticker / Exchange
UNH - New York Stock Exchange
WSO - New York Stock Exchange
Market cap (USD)
$309.8B
$14.4B
Gross margin (TTM)
19.7%
28.3%
Operating margin (TTM)
6.1%
10.2%
Net margin (TTM)
4%
7.4%
Sector
Healthcare
Industrials
Industry
Medical - Healthcare Plans
Industrial - Distribution
HQ country
US
US
Primary segment
UnitedHealthcare
HVAC/R Distribution
Market structure
Oligopoly
Competitive
Market share
n/a
9%-12% (implied)
HHI estimate
n/a
n/a
Pricing power
Weak
Moderate
Moat score
64 / 100
72 / 100
Moat domains
Supply, Demand
Supply, Legal, Demand
Last update
2025-12-31
2026-01-05

Moat coverage

Shared moat types

Scale Economies Unit CostData Workflow Lockin

UnitedHealth Group Incorporated strengths

Suite BundlingOperational ExcellenceTraining Org Change Costs

Watsco, Inc. strengths

Physical Network DensityContractual Exclusivity

Segment mix

UnitedHealth Group Incorporated segments

Full profile >

UnitedHealthcare

Oligopoly

74.9%

Optum Health

Competitive

9.9%

Optum Insight

Competitive

1.7%

Optum Rx

Oligopoly

13.5%

Watsco, Inc. segments

Full profile >

HVAC/R Distribution

Competitive

100%

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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.