10 Wide-Moat Stocks to Buy That Look Cheap Today

The Morningstar Wide Moat Focus Index tracks companies that earn

of wide and whose stocks are trading at the lowest market prices relative to our fair value estimates.

Wide-moat companies carry sound balance sheets and significant competitive advantages—two desirable qualities in the face of today’s uncertain market.

The constituents of the Morningstar Wide Moat Focus Index are fertile ground for long-term investors seeking high-quality stocks to invest in that are trading at attractive valuations.

10 Wide-Moat Stocks to Buy That Look Cheap Today

These were 10 of the most undervalued wide-moat stocks in the Morningstar Wide Moat Focus Index as of Sept. 21, 2026.

1. Nike NKE
2. Clorox CLX
3. Broadcom AVGO
4. LPL Financial LPLA
5. Otis Worldwide OTIS
6. Broadridge Financial Solutions BR
7. Tyler Technologies TYL
8. Constellation Brands STZ
9. Zoetis ZTS
10. Zimmer Biomet ZBH

The most undervalued wide-moat stock on the list, Nike, was trading 62% below our

as of Sept. 21. The last company on the list, Zimmer Biomet, was trading 27% below our fair value estimate. We think all 10 of these names are high-quality stock ideas for long-term investors to consider.

To keep the index focused on the least-expensive high-quality stocks, Morningstar reconstitutes it regularly. The index consists of two subportfolios containing 40 stocks each, many of which are overlapping positions. The subportfolios are reconstituted semiannually in alternating quarters on a “staggered” schedule.

Morningstar reevaluates the index’s holdings and adds and removes stocks based on a preset methodology. Because stocks are equally weighted within each subportfolio, the reconstitution process also involves rightsizing positions.

After the most recent reconstitution, half the portfolio added 15 stocks and eliminated 15 stocks.

15 Undervalued Stocks Added to the Morningstar Wide Moat Focus Index

These mispriced stocks were added to the reconstituted subportfolio of the Morningstar Wide Moat Focus Index on Sept. 18, 2026.

Eleven of the 15 undervalued wide-moat stocks added to the index this quarter hail from the technology, consumer cyclical, and industrials sectors. The remaining stocks with attractive valuations come from a smattering of other industries.

15 Stocks Removed From the Morningstar Wide Moat Focus Index

These stocks were removed from the reconstituted subportfolio of the Morningstar Wide Moat Focus Index on Sept. 18, 2026. Stocks can be removed from the index for a few different reasons: if we downgrade their economic moat ratings, if their

fall beneath a certain level, or if their price/fair value ratios rise significantly.

Most of the stocks removed from the subportfolio during the latest reconstitution were pushed out by stocks that were trading at more attractive valuations at the time of reconstitution. However, two stocks—CoStar Group CSGP and TransUnion TRU—were removed from the index because their moat ratings were downgraded to narrow from wide, while another, MarketAxess MKTX, was removed because its market cap fell outside the index’s parameters.

The stocks that were removed shouldn’t always be considered stocks to sell, though—especially when the removed stocks are still trading in what we’d consider a buying range. They’re just not as undervalued as the stocks added to the index at the time of the reconstitution.

What Are Wide-Moat Stocks?

Morningstar thinks that companies with wide economic moats have significant advantages that allow them to successfully fend off competitors for decades. Companies can carve out their economic moats in different ways: by having high switching costs, through strong brand identities, or by possessing economies of scale, to name just a few.

Over time, we’ve found that the strategy of investing in wide-moat stocks trading at a discount to their fair values has been an effective approach to stock investing.

How to Screen for More Undervalued Wide-Moat Stocks

Morningstar Investor members can access our undervalued wide-moat stocks list and then customize the list to their liking using the Morningstar Investor Screener tool. Here are some possible filters you can use to build a customized screen. Simply click the blue Screen with Investor > button, and the full list will be imported into the tool. From there, you can add filters and screen for things like:

Undervalued wide-moat stocks of large companies. Click the blue + Filter button, and in the pop-up box, select Basics, then Stock Style Box. In the left-side navigation, select Large Growth, Large Core, and Large Value from that drop-down box.

Undervalued wide-moat stocks with high dividends. Click the blue + Filter button, and in the pop-up box, select Basics, then Dividend Yield (Forward). In the left-side navigation, slide the button to the dividend rate you’re looking for.

Undervalued wide-moat stocks in the technology sector. Click the blue + Filter button, and in the pop-up box, select Basics, then Sector. In the left-side navigation, choose Technology from the drop-down box.

You can also add multiple filters to your screen of undervalued wide-moat stocks, creating a more precise list that matches your criteria.