VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Alimentation Couche-Tard Inc. vs DSM-Firmenich AG

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

DSM-Firmenich AG

DSFIR · Euronext Amsterdam

Market cap (USD)$17.8B
Gross margin (TTM)34.1%
Operating margin (TTM)9.2%
Net margin (TTM)5.5%
SectorMaterials
IndustryHousehold & Personal Products
CountryCH
Data as of2025-12-29
Moat score
63/ 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 DSM-Firmenich AG's moat claims, evidence, and risks.

View DSFIR analysis

Comparison highlights

  • Moat score gap: DSM-Firmenich AG leads (63 / 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)); DSM-Firmenich AG has 4 segments (31% in Perfumery & Beauty).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Weak vs Moderate.
  • Moat breadth: Alimentation Couche-Tard Inc. has 5 moat types across 2 domains; DSM-Firmenich AG has 10 across 4.

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%

DSM-Firmenich AG

Perfumery & Beauty

Market

B2B fragrances, perfumery ingredients, and beauty ingredients

Geography

Global

Customer

Consumer brands (fine fragrance, personal care, home care) and beauty brands

Role

Ingredient supplier / fragrance house (co-creation + ingredient palette)

Revenue share

31%

Side-by-side metrics

Alimentation Couche-Tard Inc.
DSM-Firmenich AG
Ticker / Exchange
ATD - Toronto Stock Exchange
DSFIR - Euronext Amsterdam
Market cap (USD)
$70.7B
$17.8B
Gross margin (TTM)
18.5%
34.1%
Operating margin (TTM)
5.3%
9.2%
Net margin (TTM)
3.6%
5.5%
Sector
Consumer
Materials
Industry
Specialty Retail
Household & Personal Products
HQ country
CA
CH
Primary segment
Road transportation fuel (retail fuel and related mobility services)
Perfumery & Beauty
Market structure
Competitive
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Weak
Moderate
Moat score
58 / 100
63 / 100
Moat domains
Supply, Demand
Supply, Demand, Legal, Network
Last update
2026-01-05
2025-12-29

Moat coverage

Shared moat types

Supply Chain ControlScope Economies

Alimentation Couche-Tard Inc. strengths

Physical Network DensityOperational ExcellenceBrand Trust

DSM-Firmenich AG strengths

Training Org Change CostsIP Choke PointLearning Curve YieldCompliance AdvantageDesign In QualificationService Field NetworkEcosystem ComplementsData Workflow Lockin

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%

DSM-Firmenich AG segments

Full profile >

Perfumery & Beauty

Oligopoly

31%

Taste, Texture & Health

Oligopoly

25.4%

Health, Nutrition & Care

Competitive

17.3%

Animal Nutrition & Health

Competitive

26%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

View the moat stocks list

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.