VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Ambev S.A. vs Arthur J. Gallagher & Co.

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

Ambev S.A.

ABEV3 · B3 - Brasil Bolsa Balcao

Market cap (USD)$217.4B
Gross margin (TTM)51.8%
Operating margin (TTM)26.5%
Net margin (TTM)17.7%
SectorConsumer
IndustryBeverages - Alcoholic
CountryBR
Data as of2025-12-28
Moat score
82/ 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 Ambev S.A.'s moat claims, evidence, and risks.

View ABEV3 analysis

Arthur J. Gallagher & Co.

AJG · New York Stock Exchange

Market cap (USD)$67.9B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
IndustryInsurance - Brokers
CountryUS
Data as of2026-01-09
Moat score
69/ 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 Arthur J. Gallagher & Co.'s moat claims, evidence, and risks.

View AJG analysis

Comparison highlights

  • Moat score gap: Ambev S.A. leads (82 / 100 vs 69 / 100 for Arthur J. Gallagher & Co.).
  • Segment focus: Ambev S.A. has 5 segments (45% in Brazil - Beer); Arthur J. Gallagher & Co. has 2 segments (86% in Brokerage).
  • Moat breadth: Ambev S.A. has 3 moat types across 3 domains; Arthur J. Gallagher & Co. has 4 across 2.

Primary market context

Ambev S.A.

Brazil - Beer

Market

Beer production and distribution

Geography

Brazil

Customer

On-trade and off-trade retailers; distributors

Role

Producer & distributor

Revenue share

45%

Arthur J. Gallagher & Co.

Brokerage

Market

Insurance and reinsurance brokerage and consulting

Geography

Global

Customer

Commercial, industrial, public sector, nonprofit and other organizations; underwriting enterprises for reinsurance placements

Role

Intermediary / broker / advisor

Revenue share

86%

Side-by-side metrics

Ambev S.A.
Arthur J. Gallagher & Co.
Ticker / Exchange
ABEV3 - B3 - Brasil Bolsa Balcao
AJG - New York Stock Exchange
Market cap (USD)
$217.4B
$67.9B
Gross margin (TTM)
51.8%
n/a
Operating margin (TTM)
26.5%
n/a
Net margin (TTM)
17.7%
n/a
Sector
Consumer
Financials
Industry
Beverages - Alcoholic
Insurance - Brokers
HQ country
BR
US
Primary segment
Brazil - Beer
Brokerage
Market structure
Oligopoly
Oligopoly
Market share
55%-65% (estimated)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
82 / 100
69 / 100
Moat domains
Demand, Supply, Legal
Supply, Demand
Last update
2025-12-28
2026-01-09

Moat coverage

Shared moat types

Brand Trust

Ambev S.A. strengths

Distribution ControlContractual Exclusivity

Arthur J. Gallagher & Co. strengths

Service Field NetworkData Workflow LockinOperational Excellence

Segment mix

Ambev S.A. segments

Full profile >

Brazil - Beer

Oligopoly

45%

Brazil - Non-alcoholic beverages

Oligopoly

9.4%

Central America and the Caribbean

Oligopoly

12.3%

Latin America South

Oligopoly

22.2%

Canada

Oligopoly

11.2%

Arthur J. Gallagher & Co. segments

Full profile >

Brokerage

Oligopoly

86%

Risk Management

Competitive

14%

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.