VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Saturday, January 3, 2026

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Stock Comparison

Anheuser-Busch InBev SA/NV vs Constellation Software Inc.

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)$106.2B

Gross margin (TTM)55.9%

Operating margin (TTM)25.9%

Net margin (TTM)11.5%

SectorConsumer

IndustryBeverages - Alcoholic

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

Constellation Software Inc.

CSU · Toronto Stock Exchange

Market cap (USD)—

Gross margin (TTM)—

Operating margin (TTM)—

Net margin (TTM)—

SectorTechnology

Industry—

CountryCA

Data as of2026-01-02

Moat score

74/ 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 Software Inc.'s moat claims, evidence, and risks.

View CSU analysis

Comparison highlights

Moat score gap: Anheuser-Busch InBev SA/NV leads (75 / 100 vs 74 / 100 for Constellation Software Inc.).
Segment focus: Anheuser-Busch InBev SA/NV has 6 segments (28.6% in Middle Americas); Constellation Software Inc. has 6 segments.
Primary market structure: Duopoly vs Competitive. Pricing power: Moderate vs Moderate.
Moat breadth: Anheuser-Busch InBev SA/NV has 5 moat types across 3 domains; Constellation Software Inc. has 3 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%

Constellation Software Inc.

Volaris Operating Group

Market

Vertical market software (VMS) portfolios across diverse industries (Volaris)

Geography

Global (North America, Continental Europe, UK, Australia, South America, Africa)

Customer

Organizations in specific verticals (mix of public and private sector)

Role

Vertical market software vendor (application provider + long-term maintainer)

Side-by-side metrics

Anheuser-Busch InBev SA/NV

Constellation Software Inc.

Ticker / Exchange

ABI - Euronext Brussels

CSU - Toronto Stock Exchange

Market cap (USD)

$106.2B

n/a

Gross margin (TTM)

55.9%

n/a

Operating margin (TTM)

25.9%

n/a

Net margin (TTM)

11.5%

n/a

Sector

Consumer

Technology

Industry

Beverages - Alcoholic

n/a

HQ country

Primary segment

Middle Americas

Volaris Operating Group

Market structure

Duopoly

Competitive

Market share

n/a

HHI estimate

n/a

Pricing power

Moderate

Moat score

75 / 100

74 / 100

Moat domains

Demand, Supply, Network

Demand, Supply

Last update

2025-12-28

2026-01-02

Moat coverage

Shared moat types

No overlap yet.

Anheuser-Busch InBev SA/NV strengths

Brand TrustScale Economies Unit CostDistribution ControlData Workflow LockinTwo Sided Network

Constellation Software Inc. strengths

Switching Costs GeneralInstalled Base ConsumablesOperational Excellence

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%

Constellation Software Inc. segments

Full profile >

Volaris Operating Group

Competitive

n/a

Harris Operating Group

Competitive

n/a

Topicus.com Operating Group

Competitive

n/a

Jonas Operating Group

Competitive

n/a

Perseus Operating Group

Competitive

n/a

Vela Operating Group

Competitive

n/a

Want the full wide moat stocks list?

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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.