VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Monday, January 5, 2026

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Stock Comparison

Luzhou Laojiao Co., Ltd. vs Euronext N.V.

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)$170.8B

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

Euronext N.V.

ENX · Euronext Paris

Market cap (USD)—

Gross margin (TTM)—

Operating margin (TTM)—

Net margin (TTM)—

SectorFinancials

Industry—

CountryNL

Data as of2026-01-03

Moat score

74/ 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 Euronext N.V.'s moat claims, evidence, and risks.

View ENX analysis

Comparison highlights

Moat score gap: Euronext N.V. leads (74 / 100 vs 73 / 100 for Luzhou Laojiao Co., Ltd.).
Segment focus: Luzhou Laojiao Co., Ltd. has 2 segments (91.5% in Mid- and high-end baijiu); Euronext N.V. has 7 segments (34.4% in Trading).
Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
Moat breadth: Luzhou Laojiao Co., Ltd. has 5 moat types across 3 domains; Euronext N.V. has 7 across 4.

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%

Euronext N.V.

Trading

Market

Multi-asset exchange trading venues (cash equities, derivatives, fixed income, FX, power)

Geography

Europe (with global participants)

Customer

Broker-dealers, banks, proprietary trading firms, asset managers, and other market participants

Role

Trading venue operator

Revenue share

34.4%

Side-by-side metrics

Luzhou Laojiao Co., Ltd.

Euronext N.V.

Ticker / Exchange

000568.SZ - Shenzhen Stock Exchange

ENX - Euronext Paris

Market cap (USD)

$170.8B

n/a

Gross margin (TTM)

86.5%

n/a

Operating margin (TTM)

56.5%

n/a

Net margin (TTM)

42.1%

n/a

Sector

Consumer

Financials

Industry

Beverages - Wineries & Distilleries

n/a

HQ country

Primary segment

Mid- and high-end baijiu

Trading

Market structure

Oligopoly

Market share

n/a

64.8% (reported)

HHI estimate

n/a

Pricing power

Strong

Moderate

Moat score

73 / 100

74 / 100

Moat domains

Demand, Supply, Financial

Legal, Network, Supply, Demand

Last update

2025-12-30

2026-01-03

Moat coverage

Shared moat types

No overlap yet.

Luzhou Laojiao Co., Ltd. strengths

Brand TrustLearning Curve YieldDistribution ControlFloat PrepaymentCapex Knowhow Scale

Euronext N.V. strengths

Concession LicenseTwo Sided NetworkOperational ExcellenceIP Choke PointFormat Lock InClearing SettlementData Workflow Lockin

Segment mix

Luzhou Laojiao Co., Ltd. segments

Full profile >

Mid- and high-end baijiu

Oligopoly

91.5%

Other baijiu (mainstream/value)

Competitive

8.2%

Euronext N.V. segments

Full profile >

Listing

Oligopoly

14.3%

Trading

Oligopoly

34.4%

Advanced Data Services

Quasi-Monopoly

14.9%

Clearing

Oligopoly

12.4%

Custody & Settlement

Quasi-Monopoly

16.6%

Technology Solutions & Other

Competitive

6.5%

Investor Services

Competitive

0.9%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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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.