VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

AstraZeneca PLC vs Spotify Technology S.A.

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

AstraZeneca PLC

AZN · London Stock Exchange

Market cap (USD)$211.1B
Gross margin (TTM)75.2%
Operating margin (TTM)22%
Net margin (TTM)16.3%
SectorHealthcare
IndustryDrug Manufacturers - General
CountryGB
Data as of2026-01-02
Moat score
71/ 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 AstraZeneca PLC's moat claims, evidence, and risks.

View AZN analysis

Spotify Technology S.A.

SPOT · New York Stock Exchange

Market cap (USD)$121.5B
Gross margin (TTM)31.8%
Operating margin (TTM)11.7%
Net margin (TTM)8.3%
SectorCommunication Services
IndustryInternet Content & Information
CountryLU
Data as of2026-01-06
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 Spotify Technology S.A.'s moat claims, evidence, and risks.

View SPOT analysis

Comparison highlights

  • Moat score gap: AstraZeneca PLC leads (71 / 100 vs 65 / 100 for Spotify Technology S.A.).
  • Segment focus: AstraZeneca PLC has 6 segments (41% in Oncology); Spotify Technology S.A. has 2 segments (88.2% in Premium (subscription)).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: AstraZeneca PLC has 4 moat types across 3 domains; Spotify Technology S.A. has 6 across 4.

Primary market context

AstraZeneca PLC

Oncology

Market

Innovator oncology therapeutics (branded prescription medicines)

Geography

Global

Customer

Hospitals, oncology clinics, payers

Role

Innovator biopharmaceutical company

Revenue share

41%

Spotify Technology S.A.

Premium (subscription)

Market

Paid music and audio streaming subscriptions

Geography

Global

Customer

Consumers (end-users) and distribution partners (e.g., telcos)

Role

Streaming platform operator

Revenue share

88.2%

Side-by-side metrics

AstraZeneca PLC
Spotify Technology S.A.
Ticker / Exchange
AZN - London Stock Exchange
SPOT - New York Stock Exchange
Market cap (USD)
$211.1B
$121.5B
Gross margin (TTM)
75.2%
31.8%
Operating margin (TTM)
22%
11.7%
Net margin (TTM)
16.3%
8.3%
Sector
Healthcare
Communication Services
Industry
Drug Manufacturers - General
Internet Content & Information
HQ country
GB
LU
Primary segment
Oncology
Premium (subscription)
Market structure
Oligopoly
Oligopoly
Market share
n/a
31%-33% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
71 / 100
65 / 100
Moat domains
Legal, Supply, Demand
Network, Demand, Legal, Supply
Last update
2026-01-02
2026-01-06

Moat coverage

Shared moat types

Brand Trust

AstraZeneca PLC strengths

Regulated Standards PipeIP Choke PointCapex Knowhow Scale

Spotify Technology S.A. strengths

Data Network EffectsInteroperability HubTwo Sided NetworkContent Rights CurrencyScale Economies Unit Cost

Segment mix

AstraZeneca PLC segments

Full profile >

Oncology

Oligopoly

41%

Cardiovascular, Renal and Metabolism (CVRM)

Competitive

23%

Respiratory & Immunology (R&I)

Oligopoly

15%

Vaccines & Immune Therapies (V&I)

Oligopoly

3%

Rare Disease

Oligopoly

16%

Other Medicines

Competitive

2%

Spotify Technology S.A. segments

Full profile >

Premium (subscription)

Oligopoly

88.2%

Ad-Supported (advertising)

Competitive

11.8%

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.