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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
4NVDANVIDIA Corporation9/10
5AVGOBroadcom Inc.9/10
6IDXXIDEXX Laboratories Inc.9/10
7KLACKLA Corporation9/10
8LINLinde plc9/10
9TDGTransDigm Group Incorporated9/10
10VRTXVertex Pharmaceuticals Incorporated9/10
11MAMastercard Incorporated8.5/10
12TXNTexas Instruments Incorporated8.5/10
13AAPLApple Inc.8.5/10
14GEGE Aerospace8.5/10
15RMDResMed Inc.8.5/10
16SNPSSynopsys, Inc.8.5/10
17TMOThermo Fisher Scientific Inc.8.5/10
18BMIBadger Meter Inc.8.5/10
19ISRGIntuitive Surgical, Inc.8.5/10
20LMTLockheed Martin Corporation8.5/10
21VEEVVeeva Systems Inc.8.5/10
22VRSNVeriSign Inc.8.5/10
23SRESempra8.5/10
24MSIMotorola Solutions, Inc.8.5/10
25AXONAxon Enterprise, Inc.8.5/10
26CDNSCadence Design Systems Inc8.5/10
27TRIThomson Reuters Corporation8.5/10
28TYLTyler Technologies Inc.8.5/10
29ADIAnalog Devices, Inc.8.5/10
30AWKAmerican Water Works Company, Inc.8.5/10
31ADPAutomatic Data Processing, Inc.8.5/10
32CRMSalesforce Inc8.5/10
33ORCLOracle Corporation8.5/10
34ROPRoper Technologies, Inc.8.5/10
35SAPSAP SE8.5/10
36SOSouthern Company8.5/10
37ANETArista Networks, Inc.8.5/10
38ZSZscaler, Inc.8.5/10
39NOWServiceNow Inc.8.5/10
40PAYCPaycom Software Inc8.5/10
41GOOGLAlphabet Inc.8/10
42SPCXSpace Exploration Technologies Corp.8/10
43VVisa Inc.8/10
44AMZNAmazon.com Inc.8/10
45CMECME Group Inc.8/10
46ARMArm Holdings plc8/10
47SPGIS&P Global Inc.8/10
48BNYThe Bank of New York Mellon Corporation8/10
49BRK.BBerkshire Hathaway Inc.8/10
50MRSHMarsh8/10
51FICOFair Isaac Corporation8/10
52RYRoyal Bank of Canada8/10
53CSGPCoStar Group Inc8/10
54CTASCintas Corporation8/10
55DEDeere & Company8/10
56EFXEquifax Inc.8/10
57DHRDanaher Corporation8/10
58FASTFastenal Company8/10
59TERTeradyne, Inc.8/10
60PANWPalo Alto Networks, Inc.8/10
61ECLEcolab Inc.8/10
62EDConsolidated Edison, Inc.8/10
63INTUIntuit Inc.8/10
64TOSTToast, Inc.8/10
65APHAmphenol Corporation8/10
66CCICrown Castle Inc.8/10
67CRWDCrowdStrike Holdings Inc.8/10
68AMEAmetek, Inc.8/10
69ABTAbbott Laboratories8/10
70JKHYJack Henry & Associates, Inc.8/10
71NOCNorthrop Grumman Corporation8/10
72SYMSymbotic Inc.8/10
73ABBVAbbVie Inc.8/10
74AMTAmerican Tower Corporation8/10
75FDSFactSet Research Systems Inc.8/10
76WABWabtec Corp8/10
77ADSKAutodesk, Inc.8/10
78ATRAptarGroup Inc.8/10
79ADBEAdobe Inc.8/10
80EIXEdison International8/10
81WATWaters Corporation8/10
82AZPNAspen Technology Inc.8/10
83NXPINXP Semiconductors N.V.8/10
84GTLBGitLab Inc.8/10
85CSCOCisco Systems, Inc.8/10
86IBMInternational Business Machines Corporation8/10
87VICIVici Properties Inc.8/10
88METAMeta Platforms, Inc.7.5/10
89UNPUnion Pacific Corporation7.5/10
90COSTCostco Wholesale Corporation7.5/10
91MELIMercadoLibre, Inc.7.5/10
92WMWaste Management, Inc.7.5/10
93ICEIntercontinental Exchange Inc.7.5/10
94VRSKVerisk Analytics Inc7.5/10
95ATEXAnterix Inc.7.5/10
96KOThe Coca-Cola Company7.5/10
97BLKBlackRock, Inc.7.5/10
98LYVLive Nation Entertainment, Inc.7.5/10
99PAYXPaychex Inc.7.5/10
100AZNAstraZeneca PLC7.5/10

100 companies · Rankings last computed October 7, 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.