VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Ambev S.A. vs Celsius Holdings, 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

Celsius Holdings, Inc.

CELH · NASDAQ

Market cap (USD)$12.4B
Gross margin (TTM)51.4%
Operating margin (TTM)4.5%
Net margin (TTM)3%
SectorConsumer
IndustryBeverages - Non-Alcoholic
CountryUS
Data as of2026-01-05
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 Celsius Holdings, Inc.'s moat claims, evidence, and risks.

View CELH analysis

Comparison highlights

  • Moat score gap: Ambev S.A. leads (82 / 100 vs 57 / 100 for Celsius Holdings, Inc.).
  • Segment focus: Ambev S.A. has 5 segments (45% in Brazil - Beer); Celsius Holdings, Inc. has 1 segment (100% in Functional Energy Beverages (CELSIUS, Alani Nu, Rockstar)).
  • Moat breadth: Ambev S.A. has 3 moat types across 3 domains; Celsius Holdings, Inc. has 3 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%

Celsius Holdings, Inc.

Functional Energy Beverages (CELSIUS, Alani Nu, Rockstar)

Market

Energy drinks (functional/better-for-you positioning) and adjacent wellness products

Geography

Primarily North America; growing international presence

Customer

Consumers via retail and e-commerce channels; sold through distributor/retail channels

Role

Brand owner / product developer; uses third-party manufacturing and third-party distribution

Revenue share

100%

Side-by-side metrics

Ambev S.A.
Celsius Holdings, Inc.
Ticker / Exchange
ABEV3 - B3 - Brasil Bolsa Balcao
CELH - NASDAQ
Market cap (USD)
$214.4B
$12.4B
Gross margin (TTM)
51.8%
51.4%
Operating margin (TTM)
26.5%
4.5%
Net margin (TTM)
17.7%
3%
Sector
Consumer
Consumer
Industry
Beverages - Alcoholic
Beverages - Non-Alcoholic
HQ country
BR
US
Primary segment
Brazil - Beer
Functional Energy Beverages (CELSIUS, Alani Nu, Rockstar)
Market structure
Oligopoly
Oligopoly
Market share
55%-65% (estimated)
16%-16.4% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
82 / 100
57 / 100
Moat domains
Demand, Supply, Legal
Supply, Demand
Last update
2025-12-28
2026-01-05

Moat coverage

Shared moat types

Brand TrustDistribution Control

Ambev S.A. strengths

Contractual Exclusivity

Celsius Holdings, Inc. strengths

Scope 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%

Celsius Holdings, Inc. segments

Full profile >

Functional Energy Beverages (CELSIUS, Alani Nu, Rockstar)

Oligopoly

100%

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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.