VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Alimentation Couche-Tard Inc. vs Veeva Systems Inc.

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

Veeva Systems Inc.

VEEV · New York Stock Exchange

Market cap (USD)$36.4B
Gross margin (TTM)75.7%
Operating margin (TTM)27.9%
Net margin (TTM)27.9%
SectorTechnology
IndustryMedical - Healthcare Information Services
CountryUS
Data as of2025-12-29
Moat score
82/ 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 Veeva Systems Inc.'s moat claims, evidence, and risks.

View VEEV analysis

Comparison highlights

  • Moat score gap: Veeva Systems Inc. leads (82 / 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)); Veeva Systems Inc. has 2 segments (53% in R&D Solutions).
  • Primary market structure: Competitive vs Competitive. Pricing power: Weak vs Strong.
  • Moat breadth: Alimentation Couche-Tard Inc. has 5 moat types across 2 domains; Veeva Systems Inc. has 4 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%

Veeva Systems Inc.

R&D Solutions

Market

Life sciences R&D, clinical, regulatory, safety, and quality cloud applications (Vault platform-based suites)

Geography

Global

Customer

Life sciences companies plus CROs and related regulated organizations

Role

Vertical SaaS platform owner

Revenue share

53%

Side-by-side metrics

Alimentation Couche-Tard Inc.
Veeva Systems Inc.
Ticker / Exchange
ATD - Toronto Stock Exchange
VEEV - New York Stock Exchange
Market cap (USD)
$70.7B
$36.4B
Gross margin (TTM)
18.5%
75.7%
Operating margin (TTM)
5.3%
27.9%
Net margin (TTM)
3.6%
27.9%
Sector
Consumer
Technology
Industry
Specialty Retail
Medical - Healthcare Information Services
HQ country
CA
US
Primary segment
Road transportation fuel (retail fuel and related mobility services)
R&D Solutions
Market structure
Competitive
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Weak
Strong
Moat score
58 / 100
82 / 100
Moat domains
Supply, Demand
Demand, Legal, Network
Last update
2026-01-05
2025-12-29

Moat coverage

Shared moat types

No overlap yet.

Alimentation Couche-Tard Inc. strengths

Physical Network DensityOperational ExcellenceBrand TrustSupply Chain ControlScope Economies

Veeva Systems Inc. strengths

Data Workflow LockinCompliance AdvantageEcosystem ComplementsSuite Bundling

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%

Veeva Systems Inc. segments

Full profile >

Commercial Solutions

Oligopoly

47%

R&D Solutions

Competitive

53%

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.