VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Luzhou Laojiao Co., Ltd. vs Alimentation Couche-Tard Inc.

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Luzhou Laojiao Co., Ltd.

000568.SZ · Shenzhen Stock Exchange

Market cap (USD)$174.4B
Gross margin (TTM)86.5%
Operating margin (TTM)56.5%
Net margin (TTM)42.1%
SectorConsumer
IndustryBeverages - Wineries & Distilleries
CountryCN
Data as of2025-12-30
Moat score
73/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Luzhou Laojiao Co., Ltd.'s moat claims, evidence, and risks.

View 000568.SZ analysis

Alimentation Couche-Tard Inc.

ATD · Toronto Stock Exchange

Market cap (USD)$70.7B
Gross margin (TTM)18.5%
Operating margin (TTM)5.3%
Net margin (TTM)3.6%
SectorConsumer
IndustrySpecialty Retail
CountryCA
Data as of2026-01-05
Moat score
58/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Alimentation Couche-Tard Inc.'s moat claims, evidence, and risks.

View ATD analysis

Comparison highlights

  • Moat score gap: Luzhou Laojiao Co., Ltd. leads (73 / 100 vs 58 / 100 for Alimentation Couche-Tard Inc.).
  • Segment focus: Luzhou Laojiao Co., Ltd. has 2 segments (91.5% in Mid- and high-end baijiu); Alimentation Couche-Tard Inc. has 3 segments (74% in Road transportation fuel (retail fuel and related mobility services)).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Strong vs Weak.
  • Moat breadth: Luzhou Laojiao Co., Ltd. has 5 moat types across 3 domains; Alimentation Couche-Tard Inc. has 5 across 2.

Primary market context

Luzhou Laojiao Co., Ltd.

Mid- and high-end baijiu

Market

Premium baijiu (strong-aroma) in China

Geography

China (primarily); limited exports

Customer

Consumers (personal consumption) and gifting/banquet channels via distributors/retail

Role

Distiller / brand owner

Revenue share

91.5%

Alimentation Couche-Tard Inc.

Road transportation fuel (retail fuel and related mobility services)

Market

Road transportation fuel retail (gasoline/diesel) at convenience sites; includes unmanned/automated fuel stations

Geography

North America and Europe (plus select other regions via the network)

Customer

Consumers and small fleets

Role

Fuel retailer and site operator

Revenue share

74%

Side-by-side metrics

Luzhou Laojiao Co., Ltd.
Alimentation Couche-Tard Inc.
Ticker / Exchange
000568.SZ - Shenzhen Stock Exchange
ATD - Toronto Stock Exchange
Market cap (USD)
$174.4B
$70.7B
Gross margin (TTM)
86.5%
18.5%
Operating margin (TTM)
56.5%
5.3%
Net margin (TTM)
42.1%
3.6%
Sector
Consumer
Consumer
Industry
Beverages - Wineries & Distilleries
Specialty Retail
HQ country
CN
CA
Primary segment
Mid- and high-end baijiu
Road transportation fuel (retail fuel and related mobility services)
Market structure
Oligopoly
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Weak
Moat score
73 / 100
58 / 100
Moat domains
Demand, Supply, Financial
Supply, Demand
Last update
2025-12-30
2026-01-05

Moat coverage

Shared moat types

Brand Trust

Luzhou Laojiao Co., Ltd. strengths

Learning Curve YieldDistribution ControlFloat PrepaymentCapex Knowhow Scale

Alimentation Couche-Tard Inc. strengths

Physical Network DensityOperational ExcellenceSupply Chain ControlScope Economies

Segment mix

Luzhou Laojiao Co., Ltd. segments

Full profile >

Mid- and high-end baijiu

Oligopoly

91.5%

Other baijiu (mainstream/value)

Competitive

8.2%

Alimentation Couche-Tard Inc. segments

Full profile >

Merchandise and services (in-store convenience retail)

Competitive

25.2%

Road transportation fuel (retail fuel and related mobility services)

Competitive

74%

Other revenues (ancillary energy and other income streams)

Competitive

0.8%

Want the full wide moat stocks list?

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Proven models entering the expansion stage with unit economics that work.

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Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.