VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Tuesday, December 30, 2025

Stock Comparison

Barry Callebaut AG vs British American Tobacco p.l.c.

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

Barry Callebaut AG

BARN · SIX Swiss Exchange

Market cap (USD)
SectorConsumer
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 Barry Callebaut AG's moat claims, evidence, and risks.

View BARN analysis

British American Tobacco p.l.c.

BATS · London Stock Exchange

Market cap (USD)
SectorConsumer
CountryGB
Data as of2025-12-30
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 British American Tobacco p.l.c.'s moat claims, evidence, and risks.

View BATS analysis

Comparison highlights

  • Moat score gap: British American Tobacco p.l.c. leads (71 / 100 vs 63 / 100 for Barry Callebaut AG).
  • Segment focus: Barry Callebaut AG has 2 segments (68.7% in Global Chocolate); British American Tobacco p.l.c. has 6 segments (80% in Combustibles).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Barry Callebaut AG has 6 moat types across 2 domains; British American Tobacco p.l.c. has 6 across 3.

Primary market context

Barry Callebaut AG

Global Chocolate

Market

Chocolate ingredients and solutions (B2B) for food manufacturers and professional/artisan customers

Geography

Global

Customer

Industrial food manufacturers; professional/artisan users (chocolatiers, bakers, pastry chefs, foodservice)

Role

Ingredient manufacturer / solutions provider

Revenue share

68.7%

British American Tobacco p.l.c.

Combustibles

Market

Combustible tobacco (cigarettes and other combustible products)

Geography

Global

Customer

Adult nicotine consumers via retail/wholesale channels

Role

Manufacturer / brand owner

Revenue share

80%

Side-by-side metrics

Barry Callebaut AG
British American Tobacco p.l.c.
Ticker / Exchange
BARN - SIX Swiss Exchange
BATS - London Stock Exchange
Market cap (USD)
n/a
n/a
Sector
Consumer
Consumer
HQ country
CH
GB
Primary segment
Global Chocolate
Combustibles
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
63 / 100
71 / 100
Moat domains
Supply, Demand
Demand, Supply, Legal
Last update
2025-12-29
2025-12-30

Moat coverage

Shared moat types

Brand Trust

Barry Callebaut AG strengths

Capex Knowhow ScaleSupply Chain ControlCost-plus pass-through modelScale Economies Unit CostPreferential Input Access

British American Tobacco p.l.c. strengths

Distribution ControlCompliance AdvantageInstalled Base ConsumablesOperational ExcellenceCapability adjacency

Segment mix

Barry Callebaut AG segments

Full profile >

Global Chocolate

Oligopoly

68.7%

Global Cocoa

Oligopoly

31.3%

British American Tobacco p.l.c. segments

Full profile >

Combustibles

Oligopoly

80%

Vapour

Competitive

6.7%

Heated Products

Oligopoly

3.6%

Modern Oral

Oligopoly

3.1%

Traditional Oral

Oligopoly

4.2%

Other

Competitive

2.5%

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

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.