Morningstar’s 2024 Economic Moat Review

A robust review of global stocks under our coverage resulted in more wide economic moat ratings in 2024.

Last year, Morningstar global equity analysts reviewed 634 economic moat ratings for individual stocks, resulting in 106 moat changes. Of the reviewed companies, several sectors held the majority of economic moat upgrades—including technology companies and industries—while moat downgrades were concentrated in sectors such as communication services and financials. Now, nearly 20% of our stock coverage have a wide moat, presenting investors with a higher selection of strategic stock opportunities.

Our 2024 Economic Moat Review highlights the 106 economic moat changes in the Morningstar stock universe, as well as industry trends and undervalued companies whose moat ratings were upgraded.

Access the report to uncover how these ratings can impact your investment decisions.