VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Barry Callebaut AG vs BlackRock, Inc.

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

BlackRock, Inc.

BLK · New York Stock Exchange

Market cap (USD)$168.1B
SectorFinancials
CountryUS
Data as of2025-12-31
Moat score
59/ 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 BlackRock, Inc.'s moat claims, evidence, and risks.

View BLK analysis

Comparison highlights

  • Moat score gap: Barry Callebaut AG leads (63 / 100 vs 59 / 100 for BlackRock, Inc.).
  • Segment focus: Barry Callebaut AG has 2 segments (68.7% in Global Chocolate); BlackRock, Inc. has 7 segments (33% in iShares ETFs & ETPs).
  • Moat breadth: Barry Callebaut AG has 6 moat types across 2 domains; BlackRock, Inc. has 10 across 2.

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%

BlackRock, Inc.

iShares ETFs & ETPs

Market

Exchange-traded funds (ETFs) and exchange-traded products (ETPs)

Geography

Global

Customer

Institutional and retail (via intermediaries)

Role

ETF sponsor / asset manager

Revenue share

33%

Side-by-side metrics

Barry Callebaut AG
BlackRock, Inc.
Ticker / Exchange
BARN - SIX Swiss Exchange
BLK - New York Stock Exchange
Market cap (USD)
n/a
$168.1B
Sector
Consumer
Financials
HQ country
CH
US
Primary segment
Global Chocolate
iShares ETFs & ETPs
Market structure
Oligopoly
Oligopoly
Market share
n/a
28.3% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
63 / 100
59 / 100
Moat domains
Supply, Demand
Supply, Demand
Last update
2025-12-29
2025-12-31

Moat coverage

Shared moat types

Brand TrustScale Economies Unit Cost

Barry Callebaut AG strengths

Capex Knowhow ScaleSupply Chain ControlCost-plus pass-through modelPreferential Input Access

BlackRock, Inc. strengths

Distribution ControlOperational ExcellenceSwitching Costs GeneralSuite BundlingProcurement InertiaLong Term ContractsScope EconomiesData Workflow Lockin

Segment mix

Barry Callebaut AG segments

Full profile >

Global Chocolate

Oligopoly

68.7%

Global Cocoa

Oligopoly

31.3%

BlackRock, Inc. segments

Full profile >

iShares ETFs & ETPs

Oligopoly

33%

Institutional Index Mandates (Non-ETF)

Oligopoly

5.7%

Active & Multi-Asset (Public Markets)

Competitive

27.5%

Alternatives & Private Markets

Oligopoly

13.5%

Cash Management (MMFs & cash solutions)

Competitive

5.1%

Aladdin & Technology Services

Oligopoly

7.9%

Distribution & Advisory Services

Competitive

7.3%

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.