← 所有护城河类型
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转换成本型护城河
76 家公司 · 按盈利质量排序
转换成本护城河来自离开一款产品所需付出的时间、金钱、数据迁移或再培训代价。企业软件（SAP / Oracle / Salesforce）、深度集成工具链（Adobe / Autodesk / Cadence）、嵌入工作流的服务都靠这个。采用时间越长，护城河越宽。
| 公司 | 评分 | 毛利率 | ROE | CF/NI | FCF | 其他护城河 |
|---|---|---|---|---|---|---|
| ADPADP2025 | B88 | 46.0% | 65.9% | 1.21x | $4.9B | — |
| ISRGIntuitive Surgical2025 | B87 | 66.0% | 16.0% | 1.06x | $2.5B | — |
| CTASCintas2025 | B87 | 50.0% | 38.7% | 1.20x | $1.8B | — |
| ADBEAdobe Inc.2025 | B86 | 89.3% | 61.3% | 1.41x | $9.9B | — |
| ORLYO'Reilly Automotive2025 | B86 | 51.6% | -332.5% | 1.09x | $1.6B | 有效规模 |
| IDXXIDEXX Laboratories2025 | B85 | 61.8% | 66.0% | 1.12x | $1.1B | 品牌定价权 |
| MSFTMicrosoft Corporation2025 | B84 | 68.8% | 29.6% | 1.34x | $71.6B | 网络效应 |
| CDNSCadence Design Systems2025 | B84 | — | 20.3% | 1.56x | $1.6B | — |
| LINLinde2025 | B84 | — | 18.0% | 1.50x | $5.1B | 有效规模 |
| FASTFastenal2025 | B83 | 45.0% | 31.9% | 1.03x | $1.1B | 成本优势 |
| AAPLApple Inc.2025 | B82 | 46.9% | 151.9% | 1.00x | $98.8B | 品牌定价权 · 价值链收费站 |
| MSCIMSCI Inc.2025 | B82 | — | -45.3% | 1.32x | $1.5B | 价值链收费站 |
| VRSKVerisk Analytics2025 | B82 | 69.9% | 293.9% | 1.58x | $1.2B | — |
| KLACKLA Corp2025 | B80 | 60.9% | 86.6% | 1.00x | $3.7B | — |
| FTNTFortinet2025 | B80 | 80.5% | 149.8% | 1.40x | $2.2B | — |
| PAYXPaychex2025 | C78 | 72.4% | 40.1% | 1.15x | $1.7B | — |
| AVGOBroadcom Inc.2025 | C77 | 67.8% | 28.4% | 1.19x | $26.9B | — |
| BLKBlackRock, Inc.2025 | C77 | — | 9.9% | 0.71x | $3.6B | 有效规模 |
| TMOTHERMO FISHER SCIENTIFIC INC.2025 | C76 | — | 12.6% | 1.17x | $6.3B | 成本优势 |
| ABTABBOTT LABORATORIES2025 | C76 | 56.4% | 12.5% | 1.47x | $7.4B | 品牌定价权 |
| DXCMDexCom2025 | C76 | 60.1% | 30.5% | 1.72x | $1.1B | — |
| CRMSalesforce, Inc.2025 | C75 | 77.2% | 10.1% | 2.11x | $12.4B | — |
| INTUINTUIT INC.2025 | C75 | — | 19.6% | 1.60x | $6.1B | 品牌定价权 |
| NXPINXP Semiconductors2025 | C75 | 54.7% | 20.1% | 1.40x | $2.4B | — |
| ACNAccenture plc2025 | C75 | 31.9% | 24.6% | 1.49x | $10.9B | — |
| SYKSTRYKER CORP2025 | C75 | 64.0% | 14.5% | 1.55x | $4.3B | — |
| CATCATERPILLAR INC.2025 | C75 | 33.8% | 41.7% | 1.32x | $8.9B | 品牌定价权 |
| GWWW.W. Grainger, Inc.2025 | C75 | 39.1% | 45.7% | 1.18x | $1.3B | — |
| NVDANVIDIA CORP2025 | C73 | 71.1% | 76.3% | 0.86x | $96.7B | 成本优势 |
| NOWSERVICENOW, INC.2025 | C73 | 77.5% | 13.5% | 3.11x | $4.6B | — |
| ANETARISTA NETWORKS, INC.2025 | C73 | 64.1% | 28.4% | 1.25x | $4.3B | — |
| ADIAnalog Devices2025 | C73 | 61.5% | 6.7% | 2.12x | $4.3B | — |
| LRCXLam Research2025 | C73 | 48.7% | 54.3% | 1.15x | $5.4B | — |
| ROPRoper Technologies2025 | C73 | 69.2% | 7.7% | 1.65x | $2.5B | — |
| QCOMQualcomm2025 | C72 | 55.4% | 26.1% | 2.53x | $12.8B | 价值链收费站 |
| SCHWSCHWAB CHARLES CORP2025 | C72 | — | 17.9% | 1.05x | $8.8B | 成本优势 |
| SPGIS&P Global Inc.2025 | C72 | 70.2% | 14.4% | 1.26x | $5.5B | 价值链收费站 |
| PLTRPalantir2025 | C71 | 82.4% | 22.0% | 1.31x | $2.1B | — |
| AFLAflac Incorporated2025 | C71 | — | 12.4% | 0.70x | $2.6B | 品牌定价权 |
| ITWILLINOIS TOOL WORKS INC2025 | C71 | 52.9% | 95.0% | 1.02x | $2.7B | — |
| AMATApplied Materials2025 | C70 | 48.7% | 34.3% | 1.14x | $5.7B | 成本优势 |
| PANWPalo Alto Networks2025 | C70 | 73.4% | 14.5% | 3.28x | $3.5B | — |
| DDOGDatadog2025 | C70 | 80.0% | 2.9% | 9.75x | $1.0B | — |
| JNJJohnson & Johnson2025 | C70 | 67.9% | 32.9% | 0.92x | $19.7B | 品牌定价权 |
| GEGENERAL ELECTRIC COMPANY2025 | D69 | — | 46.6% | 0.98x | $7.3B | 品牌定价权 |
| DEDEERE & CO2025 | D69 | — | 19.4% | 1.48x | $6.1B | 品牌定价权 |
| SNPSSynopsys2025 | D68 | 77.0% | 4.7% | 1.14x | $1.3B | — |
| ILMNIllumina2025 | D68 | 66.1% | 31.2% | 1.27x | $931M | 成本优势 |
| RTXRTX CORPORATION2025 | D68 | — | 10.3% | 1.57x | $7.9B | 价值链收费站 |
| GDGENERAL DYNAMICS CORPORATION2025 | D68 | — | 16.4% | 1.22x | $4.0B | — |
| CRWDCrowdStrike2025 | D67 | 75.0% | -0.5% | -90.66x | $1.1B | — |
| SHOPShopify Inc.2025 | D67 | 48.1% | 9.1% | 1.65x | $2.0B | 网络效应 |
| BKRBaker Hughes2025 | D67 | — | 13.7% | 1.47x | $2.5B | — |
| LMTLOCKHEED MARTIN CORPORATION2025 | D66 | 10.2% | 74.6% | 1.71x | $6.9B | 价值链收费站 |
| SLBSLB LIMITED/NV2025 | D66 | — | 12.9% | 1.92x | $4.8B | — |
| EQIXEQUINIX, INC.2025 | D66 | 51.1% | 9.5% | 2.90x | $-400M | 网络效应 |
| WDAYWorkday2025 | D65 | — | 5.8% | 4.68x | $2.2B | — |
| TEAMAtlassian2025 | D65 | 82.8% | -19.1% | -5.69x | $1.4B | — |
| DHRDANAHER CORPORATION2025 | D65 | 59.1% | 6.9% | 1.78x | $5.3B | — |
| ICEINTERCONTINENTAL EXCHANGE, INC.2025 | D65 | — | 11.5% | 1.41x | $4.3B | 价值链收费站 |
| ECLECOLAB INC.2025 | D65 | 44.5% | 21.2% | 1.42x | $1.9B | — |
| AXONAxon Enterprise2025 | D64 | 59.7% | 3.8% | 1.70x | $75M | — |
| CTSHCognizant2025 | D63 | — | 14.9% | 1.29x | $2.6B | — |
| ORCLOracle Corporation2025 | D62 | — | 60.8% | 1.67x | $-394M | — |
| IBMINTERNATIONAL BUSINESS MACHINES CORPORATION2025 | D61 | 58.2% | 32.4% | 1.25x | $12.1B | — |
| SNOWSNOWFLAKE INC.2025 | D61 | 66.5% | -42.9% | -0.75x | $913M | — |
| HALHALLIBURTON COMPANY2025 | D60 | — | 12.3% | 2.28x | $1.7B | — |
| HONHoneywell2025 | F59 | 36.9% | 34.0% | 1.36x | $5.4B | — |
| ZSZscaler2025 | F58 | 76.9% | -2.3% | -23.45x | $808M | — |
| CSGPCoStar Group2025 | F56 | 78.9% | 0.1% | 61.43x | $123M | 价值链收费站 |
| MCHPMicrochip Technology2025 | F53 | 56.1% | -0.0% | -1796.20x | $772M | — |
| MMM3M COMPANY2025 | F51 | 39.9% | 69.1% | 0.71x | $1.4B | 品牌定价权 |
| ONON Semiconductor2025 | F48 | 33.1% | 1.6% | 14.54x | $1.4B | — |
| GEHCGE HealthCare2025 | F44 | 40.0% | 20.1% | — | $-482M | — |
| APDAIR PRODUCTS AND CHEMICALS, INC.2025 | F43 | 31.4% | -2.6% | — | $-7.0B | 有效规模 |
| BABOEING CO2025 | F40 | 4.8% | 41.0% | 0.48x | $-1.9B | 有效规模 |
"其他护城河"一列标注了这家公司除当前护城河类型外同时拥有的其他护城河——多条护城河叠加时，效果是乘法不是加法。