VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Sunday, January 11, 2026

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Stock Comparison

Luzhou Laojiao Co., Ltd. vs Morningstar, 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)$171.8B

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

Morningstar, Inc.

MORN · NASDAQ

Market cap (USD)—

Gross margin (TTM)—

Operating margin (TTM)—

Net margin (TTM)—

SectorFinancials

Industry—

CountryUS

Data as of2026-01-10

Moat score

67/ 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 Morningstar, Inc.'s moat claims, evidence, and risks.

View MORN analysis

Comparison highlights

Moat score gap: Luzhou Laojiao Co., Ltd. leads (73 / 100 vs 67 / 100 for Morningstar, Inc.).
Segment focus: Luzhou Laojiao Co., Ltd. has 2 segments (91.5% in Mid- and high-end baijiu); Morningstar, Inc. has 7 segments (34.6% in Morningstar Data and Analytics).
Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
Moat breadth: Luzhou Laojiao Co., Ltd. has 5 moat types across 3 domains; Morningstar, Inc. has 6 across 3.

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%

Morningstar, Inc.

Morningstar Data and Analytics

Market

Investment data, research, and analytics platforms

Geography

Global

Revenue share

34.6%

Side-by-side metrics

Luzhou Laojiao Co., Ltd.

Morningstar, Inc.

Ticker / Exchange

000568.SZ - Shenzhen Stock Exchange

MORN - NASDAQ

Market cap (USD)

$171.8B

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

Morningstar Data and Analytics

Market structure

Oligopoly

Market share

n/a

HHI estimate

n/a

Pricing power

Strong

Moderate

Moat score

73 / 100

67 / 100

Moat domains

Demand, Supply, Financial

Demand, Network, Legal

Last update

2025-12-30

2026-01-10

Moat coverage

Shared moat types

No overlap yet.

Luzhou Laojiao Co., Ltd. strengths

Brand TrustLearning Curve YieldDistribution ControlFloat PrepaymentCapex Knowhow Scale

Morningstar, Inc. strengths

Data Workflow LockinDe Facto StandardRegulated Standards PipeSuite BundlingTraining Org Change CostsIP Choke Point

Segment mix

Luzhou Laojiao Co., Ltd. segments

Full profile >

Mid- and high-end baijiu

Oligopoly

91.5%

Other baijiu (mainstream/value)

Competitive

8.2%

Morningstar, Inc. segments

Full profile >

Morningstar Data and Analytics

Oligopoly

34.6%

PitchBook

Oligopoly

27.2%

Morningstar Credit

Oligopoly

12.8%

Morningstar Wealth

Competitive

10.9%

Morningstar Retirement

Competitive

5.6%

Morningstar Sustainalytics

Oligopoly

5.2%

Morningstar Indexes

Oligopoly

3.7%

Want the full wide moat stocks list?

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

View the moat stocks list

Looking for expansion-stage stocks?

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

View expansion-stage stocks

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.