VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Wednesday, January 7, 2026

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Stock Comparison

Barry Callebaut AG vs Celsius Holdings, 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)$6.9B

Gross margin (TTM)11.1%

Operating margin (TTM)4.6%

Net margin (TTM)1.5%

SectorConsumer

IndustryFood Confectioners

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

Celsius Holdings, Inc.

CELH · NASDAQ

Market cap (USD)$12.4B

Gross margin (TTM)51.4%

Operating margin (TTM)4.5%

Net margin (TTM)3%

SectorConsumer

IndustryBeverages - Non-Alcoholic

CountryUS

Data as of2026-01-05

Moat score

57/ 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 Celsius Holdings, Inc.'s moat claims, evidence, and risks.

View CELH analysis

Comparison highlights

Moat score gap: Barry Callebaut AG leads (63 / 100 vs 57 / 100 for Celsius Holdings, Inc.).
Segment focus: Barry Callebaut AG has 2 segments (68.7% in Global Chocolate); Celsius Holdings, Inc. has 1 segment (100% in Functional Energy Beverages (CELSIUS, Alani Nu, Rockstar)).
Moat breadth: Barry Callebaut AG has 6 moat types across 2 domains; Celsius Holdings, Inc. has 3 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%

Celsius Holdings, Inc.

Functional Energy Beverages (CELSIUS, Alani Nu, Rockstar)

Market

Energy drinks (functional/better-for-you positioning) and adjacent wellness products

Geography

Primarily North America; growing international presence

Customer

Consumers via retail and e-commerce channels; sold through distributor/retail channels

Role

Brand owner / product developer; uses third-party manufacturing and third-party distribution

Revenue share

100%

Side-by-side metrics

Barry Callebaut AG

Celsius Holdings, Inc.

Ticker / Exchange

BARN - SIX Swiss Exchange

CELH - NASDAQ

Market cap (USD)

$6.9B

$12.4B

Gross margin (TTM)

11.1%

51.4%

Operating margin (TTM)

4.6%

4.5%

Net margin (TTM)

1.5%

Sector

Consumer

Industry

Food Confectioners

Beverages - Non-Alcoholic

HQ country

Primary segment

Global Chocolate

Functional Energy Beverages (CELSIUS, Alani Nu, Rockstar)

Market structure

Oligopoly

Market share

n/a

16%-16.4% (reported)

HHI estimate

n/a

Pricing power

Moderate

Moat score

63 / 100

57 / 100

Moat domains

Supply, Demand

Last update

2025-12-29

2026-01-05

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

Celsius Holdings, Inc. strengths

Distribution ControlScope Economies

Segment mix

Barry Callebaut AG segments

Full profile >

Global Chocolate

Oligopoly

68.7%

Global Cocoa

Oligopoly

31.3%

Celsius Holdings, Inc. segments

Full profile >

Functional Energy Beverages (CELSIUS, Alani Nu, Rockstar)

Oligopoly

100%

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.