VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Ambev S.A. vs Casey's General Stores, Inc.

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)$214.4B
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

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: Ambev S.A. leads (82 / 100 vs 54 / 100 for Casey's General Stores, Inc.).
  • Segment focus: Ambev S.A. has 5 segments (45% in Brazil - Beer); Casey's General Stores, Inc. has 4 segments (61.3% in Fuel).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Weak.
  • Moat breadth: Ambev S.A. has 3 moat types across 3 domains; Casey's General Stores, Inc. has 7 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%

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

Ambev S.A.
Casey's General Stores, Inc.
Ticker / Exchange
ABEV3 - B3 - Brasil Bolsa Balcao
CASY - NASDAQ
Market cap (USD)
$214.4B
$21B
Gross margin (TTM)
51.8%
23.4%
Operating margin (TTM)
26.5%
5.3%
Net margin (TTM)
17.7%
3.6%
Sector
Consumer
Consumer
Industry
Beverages - Alcoholic
Specialty Retail
HQ country
BR
US
Primary segment
Brazil - Beer
Fuel
Market structure
Oligopoly
Competitive
Market share
55%-65% (estimated)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Weak
Moat score
82 / 100
54 / 100
Moat domains
Demand, Supply, Legal
Demand, Supply
Last update
2025-12-28
2026-01-06

Moat coverage

Shared moat types

Brand TrustDistribution Control

Ambev S.A. strengths

Contractual Exclusivity

Casey's General Stores, Inc. strengths

Operational ExcellencePhysical Network DensityHabit DefaultSupply Chain ControlScope Economies

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%

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%

Want the full wide moat stocks list?

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Proven models entering the expansion stage with unit economics that work.

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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.