VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Alimentation Couche-Tard Inc. vs Costco Wholesale Corporation

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

Alimentation Couche-Tard Inc.

ATD · Toronto Stock Exchange

Market cap (USD)$70.7B
Gross margin (TTM)18.5%
Operating margin (TTM)5.3%
Net margin (TTM)3.6%
SectorConsumer
IndustrySpecialty Retail
CountryCA
Data as of2026-01-05
Moat score
58/ 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 Alimentation Couche-Tard Inc.'s moat claims, evidence, and risks.

View ATD analysis

Costco Wholesale Corporation

COST · Nasdaq Global Select Market

Market cap (USD)$388.7B
Gross margin (TTM)12.9%
Operating margin (TTM)3.8%
Net margin (TTM)3%
SectorConsumer
IndustryDiscount Stores
CountryUS
Data as of2025-12-21
Moat score
80/ 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 Costco Wholesale Corporation's moat claims, evidence, and risks.

View COST analysis

Comparison highlights

  • Moat score gap: Costco Wholesale Corporation leads (80 / 100 vs 58 / 100 for Alimentation Couche-Tard Inc.).
  • Segment focus: Alimentation Couche-Tard Inc. has 3 segments (74% in Road transportation fuel (retail fuel and related mobility services)); Costco Wholesale Corporation has 2 segments (98.1% in Warehouse club retail).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Weak vs Weak.
  • Moat breadth: Alimentation Couche-Tard Inc. has 5 moat types across 2 domains; Costco Wholesale Corporation has 6 across 3.

Primary market context

Alimentation Couche-Tard Inc.

Road transportation fuel (retail fuel and related mobility services)

Market

Road transportation fuel retail (gasoline/diesel) at convenience sites; includes unmanned/automated fuel stations

Geography

North America and Europe (plus select other regions via the network)

Customer

Consumers and small fleets

Role

Fuel retailer and site operator

Revenue share

74%

Costco Wholesale Corporation

Warehouse club retail

Market

Membership warehouse club retail (warehouse clubs, ancillary services, and e-commerce)

Geography

Global

Customer

Households and small businesses

Role

Retailer (membership club)

Revenue share

98.1%

Side-by-side metrics

Alimentation Couche-Tard Inc.
Costco Wholesale Corporation
Ticker / Exchange
ATD - Toronto Stock Exchange
COST - Nasdaq Global Select Market
Market cap (USD)
$70.7B
$388.7B
Gross margin (TTM)
18.5%
12.9%
Operating margin (TTM)
5.3%
3.8%
Net margin (TTM)
3.6%
3%
Sector
Consumer
Consumer
Industry
Specialty Retail
Discount Stores
HQ country
CA
US
Primary segment
Road transportation fuel (retail fuel and related mobility services)
Warehouse club retail
Market structure
Competitive
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Weak
Weak
Moat score
58 / 100
80 / 100
Moat domains
Supply, Demand
Supply, Financial, Demand
Last update
2026-01-05
2025-12-21

Moat coverage

Shared moat types

Operational ExcellenceBrand Trust

Alimentation Couche-Tard Inc. strengths

Physical Network DensitySupply Chain ControlScope Economies

Costco Wholesale Corporation strengths

Scale Economies Unit CostNegative Working CapitalHabit DefaultFloat Prepayment

Segment mix

Alimentation Couche-Tard Inc. segments

Full profile >

Merchandise and services (in-store convenience retail)

Competitive

25.2%

Road transportation fuel (retail fuel and related mobility services)

Competitive

74%

Other revenues (ancillary energy and other income streams)

Competitive

0.8%

Costco Wholesale Corporation segments

Full profile >

Warehouse club retail

Oligopoly

98.1%

Membership fees (subscription)

Oligopoly

1.9%

Want the full wide moat stocks list?

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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.