VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Stock Comparison

Barry Callebaut AG vs The Hershey Company

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)$8B
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

The Hershey Company

HSY · New York Stock Exchange

Market cap (USD)$45B
Gross margin (TTM)33.3%
Operating margin (TTM)12.1%
Net margin (TTM)7.6%
SectorConsumer
IndustryFood Confectioners
CountryUS
Data as of2025-12-26
Moat score
75/ 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 The Hershey Company's moat claims, evidence, and risks.

View HSY analysis

Comparison highlights

  • Moat score gap: The Hershey Company leads (75 / 100 vs 63 / 100 for Barry Callebaut AG).
  • Segment focus: Barry Callebaut AG has 2 segments (68.7% in Global Chocolate); The Hershey Company has 3 segments (81.4% in North America Confectionery).
  • Moat breadth: Barry Callebaut AG has 6 moat types across 2 domains; The Hershey Company has 4 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%

The Hershey Company

North America Confectionery

Market

Branded chocolate and non-chocolate confectionery

Geography

United States and Canada

Customer

Retail consumers via grocery, mass, club and convenience

Role

Branded manufacturer and marketer

Revenue share

81.4%

Side-by-side metrics

Barry Callebaut AG
The Hershey Company
Ticker / Exchange
BARN - SIX Swiss Exchange
HSY - New York Stock Exchange
Market cap (USD)
$8B
$45B
Gross margin (TTM)
11.1%
33.3%
Operating margin (TTM)
4.6%
12.1%
Net margin (TTM)
1.5%
7.6%
Sector
Consumer
Consumer
Industry
Food Confectioners
Food Confectioners
HQ country
CH
US
Primary segment
Global Chocolate
North America Confectionery
Market structure
Oligopoly
Oligopoly
Market share
n/a
34%-38% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
63 / 100
75 / 100
Moat domains
Supply, Demand
Demand, Supply
Last update
2025-12-29
2025-12-26

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

The Hershey Company strengths

Distribution ControlOperational ExcellenceScope Economies

Segment mix

Barry Callebaut AG segments

Full profile >

Global Chocolate

Oligopoly

68.7%

Global Cocoa

Oligopoly

31.3%

The Hershey Company segments

Full profile >

North America Confectionery

Oligopoly

81.4%

North America Salty Snacks

Oligopoly

10.1%

International

Competitive

8.5%

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.