VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

British American Tobacco p.l.c. vs Lowe's Companies, Inc.

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

Lowe's Companies, Inc.

LOW · New York Stock Exchange

Market cap (USD)$149.9B
Gross margin (TTM)31.4%
Operating margin (TTM)12.1%
Net margin (TTM)8.1%
SectorConsumer
IndustryHome Improvement
CountryUS
Data as of2026-01-06
Moat score
48/ 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 Lowe's Companies, Inc.'s moat claims, evidence, and risks.

View LOW analysis

Comparison highlights

  • Moat score gap: British American Tobacco p.l.c. leads (71 / 100 vs 48 / 100 for Lowe's Companies, Inc.).
  • Segment focus: British American Tobacco p.l.c. has 6 segments (80% in Combustibles); Lowe's Companies, Inc. has 1 segment (100% in Home Improvement Operations (Omnichannel)).
  • 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; Lowe's Companies, Inc. has 5 across 2.

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%

Lowe's Companies, Inc.

Home Improvement Operations (Omnichannel)

Market

U.S. home improvement retail and related services (DIY and Pro; omnichannel)

Geography

United States

Customer

DIY consumers and small-to-medium professional contractors

Role

Omnichannel retailer and distributor

Revenue share

100%

Side-by-side metrics

British American Tobacco p.l.c.
Lowe's Companies, Inc.
Ticker / Exchange
BATS - London Stock Exchange
LOW - New York Stock Exchange
Market cap (USD)
$88.2B
$149.9B
Gross margin (TTM)
73.3%
31.4%
Operating margin (TTM)
-24.7%
12.1%
Net margin (TTM)
-20.8%
8.1%
Sector
Consumer
Consumer
Industry
Tobacco
Home Improvement
HQ country
GB
US
Primary segment
Combustibles
Home Improvement Operations (Omnichannel)
Market structure
Oligopoly
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Weak
Moat score
71 / 100
48 / 100
Moat domains
Demand, Supply, Legal
Supply, Demand
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

Lowe's Companies, Inc. strengths

Physical Network DensitySupply Chain ControlScope EconomiesHabit Default

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%

Lowe's Companies, Inc. segments

Full profile >

Home Improvement Operations (Omnichannel)

Competitive

100%

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

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.