Morningstar’s Economic Moat Review: Year-End Update
Which companies have recently had their moat ratings upgraded or downgraded?
Our global equity analysts reviewed 600+ economic moat ratings for individual stocks, resulting in 24 moat upgrades and 26 moat downgrades in the second half of 2025. Of the economic moat changes, the industrial and financial services stock sectors experienced the most upgrades, while the communications sector led the moat downgrades.
Morningstar’s latest economic moat review analyzes 50 moat changes in the Morningstar stock universe, undervalued versus overvalued moat stocks, individual stock highlights, and more.
Download the report to find out how these ratings can help shape your long-term investing strategy.
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