VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Monday, December 29, 2025

Stock Comparison

Tencent Holdings Limited vs Heineken N.V.

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

Heineken N.V.

HEIA · Euronext Amsterdam

Market cap (USD)
SectorConsumer
CountryNL
Data as of2025-12-28
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 Heineken N.V.'s moat claims, evidence, and risks.

View HEIA analysis

Comparison highlights

  • Moat score gap: Tencent Holdings Limited leads (73 / 100 vs 65 / 100 for Heineken N.V.).
  • Segment focus: Tencent Holdings Limited has 4 segments (48.3% in Value-Added Services (VAS)); Heineken N.V. has 4 segments (38.7% in Europe).
  • Moat breadth: Tencent Holdings Limited has 6 moat types across 2 domains; Heineken N.V. has 5 across 2.

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%

Heineken N.V.

Europe

Market

Beer, cider and beyond-beer alcoholic beverages

Geography

Europe

Customer

Consumers via on-trade (bars/restaurants) and off-trade (retail/wholesale)

Role

Brewer / brand owner / route-to-market operator

Revenue share

38.7%

Side-by-side metrics

Tencent Holdings Limited
Heineken N.V.
Ticker / Exchange
0700.HK - Hong Kong Stock Exchange
HEIA - Euronext Amsterdam
Market cap (USD)
$705.6B
n/a
Sector
Communication Services
Consumer
HQ country
CN
NL
Primary segment
Value-Added Services (VAS)
Europe
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
73 / 100
65 / 100
Moat domains
Network, Supply
Demand, Supply
Last update
2025-12-28
2025-12-28

Moat coverage

Shared moat types

Distribution Control

Tencent Holdings Limited strengths

Direct Network EffectsEcosystem ComplementsTwo Sided NetworkData Network EffectsCapex Knowhow Scale

Heineken N.V. strengths

Brand TrustScale Economies Unit CostData Workflow LockinOperational Excellence

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%

Heineken N.V. segments

Full profile >

Europe

Oligopoly

38.7%

Americas

Oligopoly

34%

Africa & Middle East

Oligopoly

13.5%

Asia Pacific

Oligopoly

13.8%

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.