VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Monday, January 5, 2026

Stock Comparison

British American Tobacco p.l.c. vs Legrand S.A.

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)$91.3B
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

Legrand S.A.

LR · Euronext Paris

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorIndustrials
Industry
CountryFR
Data as of2026-01-02
Moat score
68/ 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 Legrand S.A.'s moat claims, evidence, and risks.

View LR analysis

Comparison highlights

  • Moat score gap: British American Tobacco p.l.c. leads (71 / 100 vs 68 / 100 for Legrand S.A.).
  • Segment focus: British American Tobacco p.l.c. has 6 segments (80% in Combustibles); Legrand S.A. has 2 segments (80% in Building electrical & digital infrastructure (non-datacenter)).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: British American Tobacco p.l.c. has 6 moat types across 3 domains; Legrand S.A. has 4 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%

Legrand S.A.

Building electrical & digital infrastructure (non-datacenter)

Market

Low-voltage electrical and digital building infrastructure (wiring devices, energy distribution, cable management, building controls)

Geography

Global (strong Europe & North America footprint)

Customer

Professional installers/electricians, electrical wholesalers, OEM/contractors; end-users in residential & commercial buildings

Role

Manufacturer + brand owner; channel-driven distribution

Revenue share

80%

Side-by-side metrics

British American Tobacco p.l.c.
Legrand S.A.
Ticker / Exchange
BATS - London Stock Exchange
LR - Euronext Paris
Market cap (USD)
$91.3B
n/a
Gross margin (TTM)
73.3%
n/a
Operating margin (TTM)
-24.7%
n/a
Net margin (TTM)
-20.8%
n/a
Sector
Consumer
Industrials
Industry
Tobacco
n/a
HQ country
GB
FR
Primary segment
Combustibles
Building electrical & digital infrastructure (non-datacenter)
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
71 / 100
68 / 100
Moat domains
Demand, Supply, Legal
Legal, Supply, Demand
Last update
2025-12-30
2026-01-02

Moat coverage

Shared moat types

Brand TrustCompliance Advantage

British American Tobacco p.l.c. strengths

Distribution ControlInstalled Base ConsumablesOperational ExcellenceCapability adjacency

Legrand S.A. strengths

Scope EconomiesDesign In Qualification

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%

Legrand S.A. segments

Full profile >

Building electrical & digital infrastructure (non-datacenter)

Oligopoly

80%

Datacenter infrastructure

Oligopoly

20%

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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.