VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Wednesday, January 7, 2026

Stock Comparison

Shanxi Xinghuacun Fen Wine Factory Co., Ltd. vs Casey's General Stores, Inc.

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

Shanxi Xinghuacun Fen Wine Factory Co., Ltd.

600809 · Shanghai Stock Exchange

Market cap (USD)$218.5B
Gross margin (TTM)76.1%
Operating margin (TTM)44.3%
Net margin (TTM)32.7%
SectorConsumer
IndustryBeverages - Wineries & Distilleries
CountryCN
Data as of2025-12-30
Moat score
57/ 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 Shanxi Xinghuacun Fen Wine Factory Co., Ltd.'s moat claims, evidence, and risks.

View 600809 analysis

Casey's General Stores, Inc.

CASY · NASDAQ

Market cap (USD)$21B
Gross margin (TTM)23.4%
Operating margin (TTM)5.3%
Net margin (TTM)3.6%
SectorConsumer
IndustrySpecialty Retail
CountryUS
Data as of2026-01-06
Moat score
54/ 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 Casey's General Stores, Inc.'s moat claims, evidence, and risks.

View CASY analysis

Comparison highlights

  • Moat score gap: Shanxi Xinghuacun Fen Wine Factory Co., Ltd. leads (57 / 100 vs 54 / 100 for Casey's General Stores, Inc.).
  • Segment focus: Shanxi Xinghuacun Fen Wine Factory Co., Ltd. has 2 segments (73.7% in Mid-to-High Priced Liquor (>= RMB130/L)); Casey's General Stores, Inc. has 4 segments (61.3% in Fuel).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Strong vs Weak.
  • Moat breadth: Shanxi Xinghuacun Fen Wine Factory Co., Ltd. has 5 moat types across 2 domains; Casey's General Stores, Inc. has 7 across 2.

Primary market context

Shanxi Xinghuacun Fen Wine Factory Co., Ltd.

Mid-to-High Priced Liquor (>= RMB130/L)

Market

China premium baijiu (with focus on light-aroma baijiu) and mid-to-high priced spirits

Geography

China

Customer

Consumers and corporate/banquet demand via distributor/retail channels

Role

Brand owner / distiller / wholesaler-distributor orchestrator

Revenue share

73.7%

Casey's General Stores, Inc.

Fuel

Market

Retail motor fuel sold through convenience-store fuel sites (gasoline and diesel)

Geography

United States (Casey's operating footprint; Midwest/South)

Customer

Motorists / consumers (in-store and pay-at-the-pump transactions)

Role

Fuel retailer (with some self-distribution/wholesale capabilities)

Revenue share

61.3%

Side-by-side metrics

Shanxi Xinghuacun Fen Wine Factory Co., Ltd.
Casey's General Stores, Inc.
Ticker / Exchange
600809 - Shanghai Stock Exchange
CASY - NASDAQ
Market cap (USD)
$218.5B
$21B
Gross margin (TTM)
76.1%
23.4%
Operating margin (TTM)
44.3%
5.3%
Net margin (TTM)
32.7%
3.6%
Sector
Consumer
Consumer
Industry
Beverages - Wineries & Distilleries
Specialty Retail
HQ country
CN
US
Primary segment
Mid-to-High Priced Liquor (>= RMB130/L)
Fuel
Market structure
Oligopoly
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Weak
Moat score
57 / 100
54 / 100
Moat domains
Demand, Supply
Demand, Supply
Last update
2025-12-30
2026-01-06

Moat coverage

Shared moat types

Brand TrustDistribution Control

Shanxi Xinghuacun Fen Wine Factory Co., Ltd. strengths

Learning Curve YieldPreferential Input AccessScale Economies Unit Cost

Casey's General Stores, Inc. strengths

Operational ExcellencePhysical Network DensityHabit DefaultSupply Chain ControlScope Economies

Segment mix

Shanxi Xinghuacun Fen Wine Factory Co., Ltd. segments

Full profile >

Mid-to-High Priced Liquor (>= RMB130/L)

Oligopoly

73.7%

Other Liquor (value-tier baijiu and other spirits)

Competitive

25.9%

Casey's General Stores, Inc. segments

Full profile >

Prepared Food and Dispensed Beverage

Competitive

10.1%

Grocery and General Merchandise

Competitive

26%

Fuel

Competitive

61.3%

Other (wholesale fuel, car wash, lottery)

Competitive

2.6%

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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.