CrowdStrike

Components and weights we consider: switching costs 30 percent, data network effects 30 percent, intangible assets 20 percent, cost advantage 10 percent, efficient scale 10 percent.

Switching costs 85/100: endpoint agents, response playbooks, SOC workflows and multi‑module contracts make rip‑and‑replace painful at enterprise scale; the July 2024 incident showed switching is possible but rare given recovery frictions.

Data network effects 80/100: the Falcon Threat Graph, Falcon Complete and OverWatch provide a compounding data and human‑in‑the‑loop advantage that powers Charlotte AI and agentic workflows. Intangibles 78/100: a six‑time Leader in Gartner’s EPP MQ reinforces brand and trust, partly offset by outage optics.

Cost advantage 65/100: scale helps, but Microsoft’s bundle undermines pure price power and can compress deal ASPs in bake‑offs. Efficient scale 60/100: security is large with room for several scaled winners; CrowdStrike benefits from partner ecosystems and consolidation but not a natural monopoly.

On balance, the weighted moat score is 78, reflecting multiple reinforcing moats that are strong yet not impervious.