VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Stock Comparison

Tencent Holdings Limited vs Universal Music Group 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)$4.7T
Gross margin (TTM)54.5%
Operating margin (TTM)32.3%
Net margin (TTM)29.9%
SectorCommunication Services
IndustryInternet Content & Information
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

Universal Music Group N.V.

UMG · Euronext Amsterdam

Market cap (USD)$36B
Gross margin (TTM)40.4%
Operating margin (TTM)10.4%
Net margin (TTM)17.5%
SectorCommunication Services
IndustryEntertainment
CountryNL
Data as of2025-12-28
Moat score
77/ 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 Universal Music Group N.V.'s moat claims, evidence, and risks.

View UMG analysis

Comparison highlights

  • Moat score gap: Universal Music Group N.V. leads (77 / 100 vs 73 / 100 for Tencent Holdings Limited).
  • Segment focus: Tencent Holdings Limited has 4 segments (48.3% in Value-Added Services (VAS)); Universal Music Group N.V. has 3 segments (75.2% in Recorded Music).
  • Moat breadth: Tencent Holdings Limited has 6 moat types across 2 domains; Universal Music Group N.V. has 5 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%

Universal Music Group N.V.

Recorded Music

Market

Recorded music rights (labels) and monetization (streaming, physical, licensing/sync)

Geography

Global

Customer

Digital service providers (audio/video/social), physical retailers, and licensing counterparties

Role

Label / master rights holder; artist development, marketing and distribution

Revenue share

75.2%

Side-by-side metrics

Tencent Holdings Limited
Universal Music Group N.V.
Ticker / Exchange
0700.HK - Hong Kong Stock Exchange
UMG - Euronext Amsterdam
Market cap (USD)
$4.7T
$36B
Gross margin (TTM)
54.5%
40.4%
Operating margin (TTM)
32.3%
10.4%
Net margin (TTM)
29.9%
17.5%
Sector
Communication Services
Communication Services
Industry
Internet Content & Information
Entertainment
HQ country
CN
NL
Primary segment
Value-Added Services (VAS)
Recorded Music
Market structure
Oligopoly
Oligopoly
Market share
n/a
31%-33% (estimated)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
73 / 100
77 / 100
Moat domains
Network, Supply
Legal, Supply, Demand
Last update
2025-12-28
2025-12-28

Moat coverage

Shared moat types

No overlap yet.

Tencent Holdings Limited strengths

Direct Network EffectsEcosystem ComplementsDistribution ControlTwo Sided NetworkData Network EffectsCapex Knowhow Scale

Universal Music Group N.V. strengths

Content Rights CurrencyScale Economies Unit CostBrand TrustLong Term ContractsService Field Network

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%

Universal Music Group N.V. segments

Full profile >

Recorded Music

Oligopoly

75.2%

Music Publishing

Oligopoly

17.9%

Merchandising and Other

Competitive

7.1%

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.