VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Tuesday, December 30, 2025

Stock Comparison

Tencent Holdings Limited vs British American Tobacco p.l.c.

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

Tencent Holdings Limited

0700.HK · Hong Kong Stock Exchange

Market cap (USD)$705.6B
SectorCommunication Services
CountryCN
Data as of2025-12-28
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 Tencent Holdings Limited's moat claims, evidence, and risks.

View 0700.HK analysis

British American Tobacco p.l.c.

BATS · London Stock Exchange

Market cap (USD)
SectorConsumer
CountryGB
Data as of2025-12-30
Moat score
71/ 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 British American Tobacco p.l.c.'s moat claims, evidence, and risks.

View BATS analysis

Comparison highlights

  • Moat score gap: Tencent Holdings Limited leads (73 / 100 vs 71 / 100 for British American Tobacco p.l.c.).
  • Segment focus: Tencent Holdings Limited has 4 segments (48.3% in Value-Added Services (VAS)); British American Tobacco p.l.c. has 6 segments (80% in Combustibles).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Tencent Holdings Limited has 6 moat types across 2 domains; British American Tobacco p.l.c. has 6 across 3.

Primary market context

Tencent Holdings Limited

Value-Added Services (VAS)

Market

Consumer social platforms and digital entertainment (online games, subscriptions, virtual items, digital content)

Geography

Mainland China (core) + Global (games)

Customer

Consumers

Role

Platform/operator + content publisher

Revenue share

48.3%

British American Tobacco p.l.c.

Combustibles

Market

Combustible tobacco (cigarettes and other combustible products)

Geography

Global

Customer

Adult nicotine consumers via retail/wholesale channels

Role

Manufacturer / brand owner

Revenue share

80%

Side-by-side metrics

Tencent Holdings Limited
British American Tobacco p.l.c.
Ticker / Exchange
0700.HK - Hong Kong Stock Exchange
BATS - London Stock Exchange
Market cap (USD)
$705.6B
n/a
Sector
Communication Services
Consumer
HQ country
CN
GB
Primary segment
Value-Added Services (VAS)
Combustibles
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
73 / 100
71 / 100
Moat domains
Network, Supply
Demand, Supply, Legal
Last update
2025-12-28
2025-12-30

Moat coverage

Shared moat types

Distribution Control

Tencent Holdings Limited strengths

Direct Network EffectsEcosystem ComplementsTwo Sided NetworkData Network EffectsCapex Knowhow Scale

British American Tobacco p.l.c. strengths

Brand TrustCompliance AdvantageInstalled Base ConsumablesOperational ExcellenceCapability adjacency

Segment mix

Tencent Holdings Limited segments

Full profile >

Value-Added Services (VAS)

Oligopoly

48.3%

Marketing Services

Oligopoly

18.4%

FinTech and Business Services

Oligopoly

32.1%

Others

Competitive

1.2%

British American Tobacco p.l.c. segments

Full profile >

Combustibles

Oligopoly

80%

Vapour

Competitive

6.7%

Heated Products

Oligopoly

3.6%

Modern Oral

Oligopoly

3.1%

Traditional Oral

Oligopoly

4.2%

Other

Competitive

2.5%

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.