VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Friday, January 2, 2026

Stock Comparison

Anheuser-Busch InBev SA/NV vs Novartis AG

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

Novartis AG

NOVN · SIX Swiss Exchange

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorHealthcare
Industry
CountryCH
Data as of2026-01-02
Moat score
65/ 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 Novartis AG's moat claims, evidence, and risks.

View NOVN analysis

Comparison highlights

  • Moat score gap: Anheuser-Busch InBev SA/NV leads (75 / 100 vs 65 / 100 for Novartis AG).
  • Segment focus: Anheuser-Busch InBev SA/NV has 6 segments (28.6% in Middle Americas); Novartis AG has 5 segments (29.3% in Oncology).
  • 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; Novartis AG has 4 across 3.

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%

Novartis AG

Oncology

Market

Oncology and hematology branded medicines (including targeted therapies and radioligand therapy)

Geography

Global

Customer

Oncologists and hospitals; reimbursed by payers; hospital and specialty pharmacy channels

Role

Originator developer, manufacturer, and marketer of oncology therapies

Revenue share

29.3%

Side-by-side metrics

Anheuser-Busch InBev SA/NV
Novartis AG
Ticker / Exchange
ABI - Euronext Brussels
NOVN - SIX Swiss 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
Healthcare
Industry
Beverages - Alcoholic
n/a
HQ country
BE
CH
Primary segment
Middle Americas
Oncology
Market structure
Duopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
75 / 100
65 / 100
Moat domains
Demand, Supply, Network
Legal, Supply, Demand
Last update
2025-12-28
2026-01-02

Moat coverage

Shared moat types

Brand Trust

Anheuser-Busch InBev SA/NV strengths

Scale Economies Unit CostDistribution ControlData Workflow LockinTwo Sided Network

Novartis AG strengths

IP Choke PointRegulated Standards PipeCapex Knowhow Scale

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%

Novartis AG segments

Full profile >

Cardiovascular, Renal and Metabolic

Oligopoly

17%

Immunology

Oligopoly

18.5%

Neuroscience

Oligopoly

9.4%

Oncology

Oligopoly

29.3%

Established Brands

Competitive

25.8%

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.