VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Friday, January 2, 2026

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Stock Comparison

Luzhou Laojiao Co., Ltd. vs Novartis AG

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

Novartis AG

NOVN · SIX Swiss Exchange

Market cap (USD)—

Gross margin (TTM)—

Operating margin (TTM)—

Net margin (TTM)—

SectorHealthcare

Industry—

CountryCH

Data as of2026-01-02

Moat score

65/ 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 Novartis AG's moat claims, evidence, and risks.

View NOVN analysis

Comparison highlights

Moat score gap: Luzhou Laojiao Co., Ltd. leads (73 / 100 vs 65 / 100 for Novartis AG).
Segment focus: Luzhou Laojiao Co., Ltd. has 2 segments (91.5% in Mid- and high-end baijiu); Novartis AG has 5 segments (29.3% in Oncology).
Moat breadth: Luzhou Laojiao Co., Ltd. has 5 moat types across 3 domains; Novartis AG has 4 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%

Novartis AG

Oncology

Market

Oncology and hematology branded medicines (including targeted therapies and radioligand therapy)

Geography

Global

Customer

Oncologists and hospitals; reimbursed by payers; hospital and specialty pharmacy channels

Role

Originator developer, manufacturer, and marketer of oncology therapies

Revenue share

29.3%

Side-by-side metrics

Luzhou Laojiao Co., Ltd.

Novartis AG

Ticker / Exchange

000568.SZ - Shenzhen Stock Exchange

NOVN - SIX Swiss Exchange

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

Healthcare

Industry

Beverages - Wineries & Distilleries

n/a

HQ country

Primary segment

Mid- and high-end baijiu

Oncology

Market structure

Oligopoly

Market share

n/a

HHI estimate

n/a

Pricing power

Strong

Moat score

73 / 100

65 / 100

Moat domains

Demand, Supply, Financial

Legal, Supply, Demand

Last update

2025-12-30

2026-01-02

Moat coverage

Shared moat types

Brand TrustCapex Knowhow Scale

Luzhou Laojiao Co., Ltd. strengths

Learning Curve YieldDistribution ControlFloat Prepayment

Novartis AG strengths

IP Choke PointRegulated Standards Pipe

Segment mix

Luzhou Laojiao Co., Ltd. segments

Full profile >

Mid- and high-end baijiu

Oligopoly

91.5%

Other baijiu (mainstream/value)

Competitive

8.2%

Novartis AG segments

Full profile >

Cardiovascular, Renal and Metabolic

Oligopoly

17%

Immunology

Oligopoly

18.5%

Neuroscience

Oligopoly

9.4%

Oncology

Oligopoly

29.3%

Established Brands

Competitive

25.8%

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.