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Stocks with High Switching Costs

Companies scoring 7+/10 on the switching costs pillar — businesses customers find genuinely painful to leave.

Switching costs are the quietest moat: customers stay not because they are delighted, but because leaving is expensive, risky, or exhausting. The costs can be financial (migration fees, retraining, integration rebuilds), operational (downtime risk on mission-critical systems), or psychological (the fear of breaking something that works). Enterprise software embedded in daily workflows, core banking relationships, and industrial systems certified into production lines are classic examples — churn stays low even when a competitor offers a better price.

For investors, high switching costs translate into predictable recurring revenue and genuine pricing power: a vendor that is painful to replace can raise prices a little every year without triggering churn. MoatScan’s AI scores the switching costs pillar from 0 to 10, weighing evidence like net revenue retention, contract length, integration depth, and what actually happens when customers try to leave. Every company below scores at least 7 out of 10 on that pillar.

The risk to watch is platform shifts — switching costs protect incumbents only until a technology transition forces customers to rebuild anyway, at which point the lock-in resets to zero for everyone. Each linked analysis includes the moat trend and an AI impact assessment that speaks directly to that risk.

Click any row to read the full analysis.

#CompanySwitching Costs Rating
1ASMLASML Holding N.V.9/10
2MSFTMicrosoft Corporation9/10
3TSMTaiwan Semiconductor Manufacturing Company Ltd.9/10
4AVGOBroadcom Inc.9/10
5IDXXIDEXX Laboratories Inc.9/10
6KLACKLA Corporation9/10
7NVDANVIDIA Corporation9/10
8ADIAnalog Devices, Inc.9/10
9LINLinde plc9/10
10NOWServiceNow Inc.9/10
11TDGTransDigm Group Incorporated9/10
12MAMastercard Incorporated8.5/10
13MSCIMSCI Inc.8.5/10
14TXNTexas Instruments Incorporated8.5/10
15AAPLApple Inc.8.5/10
16GEGE Aerospace8.5/10
17RMDResMed Inc.8.5/10
18SNPSSynopsys, Inc.8.5/10
19TMOThermo Fisher Scientific Inc.8.5/10
20BMIBadger Meter Inc.8.5/10
21DHRDanaher Corporation8.5/10
22ISRGIntuitive Surgical, Inc.8.5/10
23LMTLockheed Martin Corporation8.5/10
24VEEVVeeva Systems Inc.8.5/10
25VRSNVeriSign Inc.8.5/10
26SRESempra8.5/10
27MSIMotorola Solutions, Inc.8.5/10
28AXONAxon Enterprise, Inc.8.5/10
29CDNSCadence Design Systems Inc8.5/10
30TRIThomson Reuters Corporation8.5/10
31TYLTyler Technologies Inc.8.5/10
32VRTXVertex Pharmaceuticals Incorporated8.5/10
33AWKAmerican Water Works Company, Inc.8.5/10
34ADPAutomatic Data Processing, Inc.8.5/10
35CRMSalesforce Inc8.5/10
36ORCLOracle Corporation8.5/10
37ROPRoper Technologies, Inc.8.5/10
38SAPSAP SE8.5/10
39SOSouthern Company8.5/10
40ANETArista Networks, Inc.8.5/10
41ZSZscaler, Inc.8.5/10
42SPCXSpace Exploration Technologies Corp.8/10
43VVisa Inc.8/10
44AMZNAmazon.com Inc.8/10
45MCOMoody's Corporation8/10
46CMECME Group Inc.8/10
47ARMArm Holdings plc8/10
48SPGIS&P Global Inc.8/10
49BNYThe Bank of New York Mellon Corporation8/10
50BRK.BBerkshire Hathaway Inc.8/10
51MRSHMarsh8/10
52FICOFair Isaac Corporation8/10
53RYRoyal Bank of Canada8/10
54CTASCintas Corporation8/10
55DEDeere & Company8/10
56FASTFastenal Company8/10
57TERTeradyne, Inc.8/10
58PANWPalo Alto Networks, Inc.8/10
59ECLEcolab Inc.8/10
60EDConsolidated Edison, Inc.8/10
61INTUIntuit Inc.8/10
62TOSTToast, Inc.8/10
63APHAmphenol Corporation8/10
64CCICrown Castle Inc.8/10
65CRWDCrowdStrike Holdings Inc.8/10
66SYKStryker Corporation8/10
67AMEAmetek, Inc.8/10
68ABTAbbott Laboratories8/10
69JKHYJack Henry & Associates, Inc.8/10
70NOCNorthrop Grumman Corporation8/10
71SYMSymbotic Inc.8/10
72ABBVAbbVie Inc.8/10
73AMTAmerican Tower Corporation8/10
74FDSFactSet Research Systems Inc.8/10
75WABWabtec Corp8/10
76ADSKAutodesk, Inc.8/10
77ATRAptarGroup Inc.8/10
78ADBEAdobe Inc.8/10
79EIXEdison International8/10
80WATWaters Corporation8/10
81AZPNAspen Technology Inc.8/10
82NXPINXP Semiconductors N.V.8/10
83PPLPPL Corporation8/10
84GTLBGitLab Inc.8/10
85CSCOCisco Systems, Inc.8/10
86IBMInternational Business Machines Corporation8/10
87VICIVici Properties Inc.8/10
88PAYCPaycom Software Inc8/10
89UNPUnion Pacific Corporation7.5/10
90COSTCostco Wholesale Corporation7.5/10
91GOOGLAlphabet Inc.7.5/10
92MELIMercadoLibre, Inc.7.5/10
93WMWaste Management, Inc.7.5/10
94ICEIntercontinental Exchange Inc.7.5/10
95VRSKVerisk Analytics Inc7.5/10
96ATEXAnterix Inc.7.5/10
97KOThe Coca-Cola Company7.5/10
98BLKBlackRock, Inc.7.5/10
99CSGPCoStar Group Inc7.5/10
100LYVLive Nation Entertainment, Inc.7.5/10

100 companies · Rankings last computed October 22, 2026 · Scores and fair values are AI-generated from each company's latest MoatScan analysis.

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Disclaimer: This list is generated by AI from archived analyses and is provided for informational purposes only. It does not constitute financial advice, investment recommendations, or an offer to buy or sell any security. Always conduct your own due diligence before making investment decisions. MoatScan AI is an educational research tool. It is not licensed or registered with the Securities Commission Malaysia or any other financial regulator, and it holds no positions in, and receives no compensation from, any company analysed.