VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

British American Tobacco p.l.c. vs CDW Corporation

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

British American Tobacco p.l.c.

BATS · London Stock Exchange

Market cap (USD)$88.2B
Gross margin (TTM)73.3%
Operating margin (TTM)-24.7%
Net margin (TTM)-20.8%
SectorConsumer
IndustryTobacco
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

CDW Corporation

CDW · NASDAQ

Market cap (USD)$17.4B
Gross margin (TTM)21.6%
Operating margin (TTM)7.4%
Net margin (TTM)4.8%
SectorTechnology
IndustryInformation Technology Services
CountryUS
Data as of2026-01-06
Moat score
52/ 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 CDW Corporation's moat claims, evidence, and risks.

View CDW analysis

Comparison highlights

  • Moat score gap: British American Tobacco p.l.c. leads (71 / 100 vs 52 / 100 for CDW Corporation).
  • Segment focus: British American Tobacco p.l.c. has 6 segments (80% in Combustibles); CDW Corporation has 4 segments (42.1% in Corporate).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Strong vs Weak.
  • Moat breadth: British American Tobacco p.l.c. has 6 moat types across 3 domains; CDW Corporation has 6 across 3.

Primary market context

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%

CDW Corporation

Corporate

Market

IT solutions provider / value-added reseller (VAR) + services for U.S. private-sector businesses (250+ employees)

Geography

United States

Customer

Private-sector enterprises (mid-market and large)

Role

Value-added reseller / systems integrator

Revenue share

42.1%

Side-by-side metrics

British American Tobacco p.l.c.
CDW Corporation
Ticker / Exchange
BATS - London Stock Exchange
CDW - NASDAQ
Market cap (USD)
$88.2B
$17.4B
Gross margin (TTM)
73.3%
21.6%
Operating margin (TTM)
-24.7%
7.4%
Net margin (TTM)
-20.8%
4.8%
Sector
Consumer
Technology
Industry
Tobacco
Information Technology Services
HQ country
GB
US
Primary segment
Combustibles
Corporate
Market structure
Oligopoly
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Weak
Moat score
71 / 100
52 / 100
Moat domains
Demand, Supply, Legal
Supply, Demand, Legal
Last update
2025-12-30
2026-01-06

Moat coverage

Shared moat types

Operational Excellence

British American Tobacco p.l.c. strengths

Brand TrustDistribution ControlCompliance AdvantageInstalled Base ConsumablesCapability adjacency

CDW Corporation strengths

Service Field NetworkScope EconomiesPreferential Input AccessProcurement InertiaGovernment Contracting Relationships

Segment mix

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%

CDW Corporation segments

Full profile >

Corporate

Competitive

42.1%

Small Business

Competitive

7.3%

Public

Competitive

38.8%

Other (UK & Canada)

Competitive

11.8%

Want the full wide moat stocks list?

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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.