VOL. XCIV, NO. 247

* WIDE MOAT STOCKS COMPARISON *

NO ADVICE

Monday, December 29, 2025

Stock Comparison

Anheuser-Busch InBev SA/NV vs Brown-Forman Corporation

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Anheuser-Busch InBev SA/NV

ABI · Euronext Brussels

Market cap (USD)$115.5B
SectorConsumer
CountryBE
Data as of2025-12-28
Moat score
75/ 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 Anheuser-Busch InBev SA/NV's moat claims, evidence, and risks.

View ABI analysis

Brown-Forman Corporation

BF.B · New York Stock Exchange

Market cap (USD)
SectorConsumer
CountryUS
Data as of2025-12-25
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 Brown-Forman Corporation's moat claims, evidence, and risks.

View BF.B analysis

Comparison highlights

  • Moat score gap: Anheuser-Busch InBev SA/NV leads (75 / 100 vs 72 / 100 for Brown-Forman Corporation).
  • Segment focus: Anheuser-Busch InBev SA/NV has 6 segments (28.6% in Middle Americas); Brown-Forman Corporation has 5 segments (71.1% in Whiskey).
  • Primary market structure: Duopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Anheuser-Busch InBev SA/NV has 5 moat types across 3 domains; Brown-Forman Corporation has 4 across 2.

Primary market context

Anheuser-Busch InBev SA/NV

Middle Americas

Market

Beer and malt-based beverages (plus growing no-alcohol and Beyond Beer)

Geography

Mexico, Central America, and Caribbean (AB InBev reporting segment)

Customer

Retailers and on-premise outlets

Role

Brewer / brand owner + route-to-market operator

Revenue share

28.6%

Brown-Forman Corporation

Whiskey

Market

Premium-and-above whiskey spirits (American whiskey and import whiskies)

Geography

Global

Customer

Consumer (off-premise and on-premise via distributors/retailers)

Role

Brand owner / distiller / marketer

Revenue share

71.1%

Side-by-side metrics

Anheuser-Busch InBev SA/NV
Brown-Forman Corporation
Ticker / Exchange
ABI - Euronext Brussels
BF.B - New York Stock Exchange
Market cap (USD)
$115.5B
n/a
Sector
Consumer
Consumer
HQ country
BE
US
Primary segment
Middle Americas
Whiskey
Market structure
Duopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
75 / 100
72 / 100
Moat domains
Demand, Supply, Network
Demand, Supply
Last update
2025-12-28
2025-12-25

Moat coverage

Shared moat types

Brand TrustDistribution Control

Anheuser-Busch InBev SA/NV strengths

Scale Economies Unit CostData Workflow LockinTwo Sided Network

Brown-Forman Corporation strengths

Capacity MoatScope Economies

Segment mix

Anheuser-Busch InBev SA/NV segments

Full profile >

North America

Oligopoly

24.5%

Middle Americas

Duopoly

28.6%

South America

Oligopoly

20.8%

EMEA

Oligopoly

15.1%

Asia Pacific

Competitive

10.4%

Global Export & Holding Companies

Competitive

0.7%

Brown-Forman Corporation segments

Full profile >

Whiskey

Oligopoly

71.1%

Ready-to-Drink (RTD/RTP)

Competitive

12.4%

Tequila

Oligopoly

6.6%

Rest of Portfolio (Other Branded Spirits)

Competitive

7.4%

Non-branded and Bulk

Competitive

2.6%

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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.