VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Ambev S.A. vs PepsiCo, 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)$250.3B
Gross margin (TTM)50.5%
Operating margin (TTM)25.7%
Net margin (TTM)17.6%
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

PepsiCo, Inc.

PEP · Nasdaq Global Select Market

Market cap (USD)$225.5B
Gross margin (TTM)54.2%
Operating margin (TTM)12.2%
Net margin (TTM)8.8%
SectorConsumer
IndustryBeverages - Non-Alcoholic
CountryUS
Data as of2025-12-23
Moat score
72/ 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 PepsiCo, Inc.'s moat claims, evidence, and risks.

View PEP analysis

Comparison highlights

  • Moat score gap: Ambev S.A. leads (82 / 100 vs 72 / 100 for PepsiCo, Inc.).
  • Segment focus: Ambev S.A. has 5 segments (45% in Brazil - Beer); PepsiCo, Inc. has 7 segments (27% in Frito-Lay North America (FLNA)).
  • Moat breadth: Ambev S.A. has 3 moat types across 3 domains; PepsiCo, Inc. 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%

PepsiCo, Inc.

Frito-Lay North America (FLNA)

Market

Branded convenient foods (salty snacks, dips and adjacent categories)

Geography

United States and Canada

Customer

Retailers, convenience stores, foodservice

Role

Branded manufacturer + distributor (DSD/warehouse/distributor networks)

Revenue share

27%

Side-by-side metrics

Ambev S.A.
PepsiCo, Inc.
Ticker / Exchange
ABEV3 - B3 - Brasil Bolsa Balcao
PEP - Nasdaq Global Select Market
Market cap (USD)
$250.3B
$225.5B
Gross margin (TTM)
50.5%
54.2%
Operating margin (TTM)
25.7%
12.2%
Net margin (TTM)
17.6%
8.8%
Sector
Consumer
Consumer
Industry
Beverages - Alcoholic
Beverages - Non-Alcoholic
HQ country
BR
US
Primary segment
Brazil - Beer
Frito-Lay North America (FLNA)
Market structure
Oligopoly
Oligopoly
Market share
55%-65% (estimated)
54%-58% (implied)
HHI estimate
n/a
3,530
Pricing power
Moderate
Moderate
Moat score
82 / 100
72 / 100
Moat domains
Demand, Supply, Legal
Supply, Demand
Last update
2025-12-28
2025-12-23

Moat coverage

Shared moat types

Brand TrustDistribution Control

Ambev S.A. strengths

Contractual Exclusivity

PepsiCo, Inc. strengths

Scale Economies Unit CostScope 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%

PepsiCo, Inc. segments

Full profile >

Frito-Lay North America (FLNA)

Oligopoly

27%

Quaker Foods North America (QFNA)

Competitive

4.2%

PepsiCo Beverages North America (PBNA)

Oligopoly

19.9%

Latin America (LatAm)

Oligopoly

12.3%

Europe

Oligopoly

22.4%

Africa, Middle East and South Asia (AMESA)

Competitive

8.8%

Asia Pacific, Australia & New Zealand and China Region (APAC)

Competitive

5.5%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

View the moat stocks list

Looking for expansion-stage stocks?

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

View expansion-stage stocks

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.