VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Wednesday, January 7, 2026

Stock Comparison

Jiangsu Yanghe Distillery Co., Ltd. vs Alimentation Couche-Tard Inc.

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

Jiangsu Yanghe Distillery Co., Ltd.

002304.SZ · Shenzhen Stock Exchange

Market cap (USD)$95.5B
Gross margin (TTM)69.9%
Operating margin (TTM)15.7%
Net margin (TTM)10.6%
SectorConsumer
IndustryBeverages - Wineries & Distilleries
CountryCN
Data as of2025-12-30
Moat score
61/ 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 Jiangsu Yanghe Distillery Co., Ltd.'s moat claims, evidence, and risks.

View 002304.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: Jiangsu Yanghe Distillery Co., Ltd. leads (61 / 100 vs 58 / 100 for Alimentation Couche-Tard Inc.).
  • Segment focus: Jiangsu Yanghe Distillery Co., Ltd. has 2 segments; 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: Moderate vs Weak.
  • Moat breadth: Jiangsu Yanghe Distillery Co., Ltd. has 4 moat types across 2 domains; Alimentation Couche-Tard Inc. has 5 across 2.

Primary market context

Jiangsu Yanghe Distillery Co., Ltd.

Premium baijiu (mid-high to high-end)

Market

China premium baijiu (mid-high to high-end price tiers)

Geography

China

Customer

Consumers via distributor/retail channels (banquet, gifting, personal consumption)

Role

Branded producer

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

Jiangsu Yanghe Distillery Co., Ltd.
Alimentation Couche-Tard Inc.
Ticker / Exchange
002304.SZ - Shenzhen Stock Exchange
ATD - Toronto Stock Exchange
Market cap (USD)
$95.5B
$70.7B
Gross margin (TTM)
69.9%
18.5%
Operating margin (TTM)
15.7%
5.3%
Net margin (TTM)
10.6%
3.6%
Sector
Consumer
Consumer
Industry
Beverages - Wineries & Distilleries
Specialty Retail
HQ country
CN
CA
Primary segment
Premium baijiu (mid-high to high-end)
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
Moderate
Weak
Moat score
61 / 100
58 / 100
Moat domains
Demand, Supply
Supply, Demand
Last update
2025-12-30
2026-01-05

Moat coverage

Shared moat types

Brand Trust

Jiangsu Yanghe Distillery Co., Ltd. strengths

Distribution ControlCapacity MoatScale Economies Unit Cost

Alimentation Couche-Tard Inc. strengths

Physical Network DensityOperational ExcellenceSupply Chain ControlScope Economies

Segment mix

Jiangsu Yanghe Distillery Co., Ltd. segments

Full profile >

Premium baijiu (mid-high to high-end)

Oligopoly

n/a

Mass-market baijiu (mainstream price tiers)

Competitive

n/a

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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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.