VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Ambev S.A. vs Constellation Brands, 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

Constellation Brands, Inc.

STZ · New York Stock Exchange

Market cap (USD)$27.2B
Gross margin (TTM)52%
Operating margin (TTM)34.5%
Net margin (TTM)11.8%
SectorConsumer
IndustryBeverages - Wineries & Distilleries
CountryUS
Data as of2025-12-23
Moat score
76/ 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 Constellation Brands, Inc.'s moat claims, evidence, and risks.

View STZ analysis

Comparison highlights

  • Moat score gap: Ambev S.A. leads (82 / 100 vs 76 / 100 for Constellation Brands, Inc.).
  • Segment focus: Ambev S.A. has 5 segments (45% in Brazil - Beer); Constellation Brands, Inc. has 2 segments (83.7% in Beer).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Ambev S.A. has 3 moat types across 3 domains; Constellation Brands, Inc. has 4 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%

Constellation Brands, Inc.

Beer

Market

U.S. high-end beer (imported beer + above-premium American beer)

Geography

United States

Customer

Beer wholesalers/distributors; retailers; on-premise

Role

Importer/producer; marketer; supplier to distributors

Revenue share

83.7%

Side-by-side metrics

Ambev S.A.
Constellation Brands, Inc.
Ticker / Exchange
ABEV3 - B3 - Brasil Bolsa Balcao
STZ - New York Stock Exchange
Market cap (USD)
$250.3B
$27.2B
Gross margin (TTM)
50.5%
52%
Operating margin (TTM)
25.7%
34.5%
Net margin (TTM)
17.6%
11.8%
Sector
Consumer
Consumer
Industry
Beverages - Alcoholic
Beverages - Wineries & Distilleries
HQ country
BR
US
Primary segment
Brazil - Beer
Beer
Market structure
Oligopoly
Oligopoly
Market share
55%-65% (estimated)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
82 / 100
76 / 100
Moat domains
Demand, Supply, Legal
Legal, Demand, Supply
Last update
2025-12-28
2025-12-23

Moat coverage

Shared moat types

Brand TrustDistribution ControlContractual Exclusivity

Ambev S.A. strengths

No unique moat types yet.

Constellation Brands, Inc. strengths

Capacity Moat

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%

Constellation Brands, Inc. segments

Full profile >

Beer

Oligopoly

83.7%

Wine and Spirits

Competitive

16.4%

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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.