VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Ambev S.A. vs Duolingo, 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

Duolingo, Inc.

DUOL · NASDAQ

Market cap (USD)$8.6B
Gross margin (TTM)72%
Operating margin (TTM)11%
Net margin (TTM)40%
SectorTechnology
IndustrySoftware - Application
CountryUS
Data as of2026-01-06
Moat score
68/ 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 Duolingo, Inc.'s moat claims, evidence, and risks.

View DUOL analysis

Comparison highlights

  • Moat score gap: Ambev S.A. leads (82 / 100 vs 68 / 100 for Duolingo, Inc.).
  • Segment focus: Ambev S.A. has 5 segments (45% in Brazil - Beer); Duolingo, Inc. has 2 segments (93.9% in Duolingo App).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Ambev S.A. has 3 moat types across 3 domains; Duolingo, Inc. has 6 across 3.

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%

Duolingo, Inc.

Duolingo App

Market

Mobile-first, freemium language learning and adjacent subjects (math, music)

Geography

Global

Customer

Consumers (end-users); advertisers

Role

Digital learning platform / content & software publisher

Revenue share

93.9%

Side-by-side metrics

Ambev S.A.
Duolingo, Inc.
Ticker / Exchange
ABEV3 - B3 - Brasil Bolsa Balcao
DUOL - NASDAQ
Market cap (USD)
$214.4B
$8.6B
Gross margin (TTM)
51.8%
72%
Operating margin (TTM)
26.5%
11%
Net margin (TTM)
17.7%
40%
Sector
Consumer
Technology
Industry
Beverages - Alcoholic
Software - Application
HQ country
BR
US
Primary segment
Brazil - Beer
Duolingo App
Market structure
Oligopoly
Competitive
Market share
55%-65% (estimated)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
82 / 100
68 / 100
Moat domains
Demand, Supply, Legal
Network, Demand, Supply
Last update
2025-12-28
2026-01-06

Moat coverage

Shared moat types

Brand Trust

Ambev S.A. strengths

Distribution ControlContractual Exclusivity

Duolingo, Inc. strengths

Data Network EffectsHabit DefaultScope EconomiesDesign In QualificationOperational 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%

Duolingo, Inc. segments

Full profile >

Duolingo App

Competitive

93.9%

Duolingo English Test

Oligopoly

6.1%

Want the full wide moat stocks list?

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Looking for expansion-stage stocks?

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.