VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

British American Tobacco p.l.c. vs Vertex Pharmaceuticals Incorporated

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

Vertex Pharmaceuticals Incorporated

VRTX · NASDAQ

Market cap (USD)$119B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorHealthcare
IndustryBiotechnology
CountryUS
Data as of2026-01-08
Moat score
99/ 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 Vertex Pharmaceuticals Incorporated's moat claims, evidence, and risks.

View VRTX analysis

Comparison highlights

  • Moat score gap: Vertex Pharmaceuticals Incorporated leads (99 / 100 vs 71 / 100 for British American Tobacco p.l.c.).
  • Segment focus: British American Tobacco p.l.c. has 6 segments (80% in Combustibles); Vertex Pharmaceuticals Incorporated has 3 segments (99.9% in Cystic Fibrosis CFTR Modulators).
  • Primary market structure: Oligopoly vs Quasi-Monopoly. Pricing power: Strong vs Strong.
  • Moat breadth: British American Tobacco p.l.c. has 6 moat types across 3 domains; Vertex Pharmaceuticals Incorporated has 7 across 4.

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%

Vertex Pharmaceuticals Incorporated

Cystic Fibrosis CFTR Modulators

Market

CFTR modulator therapies for cystic fibrosis

Geography

U.S., Europe, Australia, Canada

Customer

Patients (via specialty pharmacies/payers); CF care centers

Role

Drug developer/manufacturer

Revenue share

99.9%

Side-by-side metrics

British American Tobacco p.l.c.
Vertex Pharmaceuticals Incorporated
Ticker / Exchange
BATS - London Stock Exchange
VRTX - NASDAQ
Market cap (USD)
$88.2B
$119B
Gross margin (TTM)
73.3%
n/a
Operating margin (TTM)
-24.7%
n/a
Net margin (TTM)
-20.8%
n/a
Sector
Consumer
Healthcare
Industry
Tobacco
Biotechnology
HQ country
GB
US
Primary segment
Combustibles
Cystic Fibrosis CFTR Modulators
Market structure
Oligopoly
Quasi-Monopoly
Market share
n/a
70%-78% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Strong
Moat score
71 / 100
99 / 100
Moat domains
Demand, Supply, Legal
Legal, Demand, Financial, Supply
Last update
2025-12-30
2026-01-08

Moat coverage

Shared moat types

No overlap yet.

British American Tobacco p.l.c. strengths

Brand TrustDistribution ControlCompliance AdvantageInstalled Base ConsumablesOperational ExcellenceCapability adjacency

Vertex Pharmaceuticals Incorporated strengths

IP Choke PointGovernment Contracting RelationshipsSwitching Costs GeneralBenchmark Pricing PowerRegulated Standards PipeService Field NetworkCapacity Moat

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%

Vertex Pharmaceuticals Incorporated segments

Full profile >

Cystic Fibrosis CFTR Modulators

Quasi-Monopoly

99.9%

Hemoglobinopathies Gene Therapy (CASGEVY)

Oligopoly

0.1%

Acute Pain (JOURNAVX)

Competitive

n/a

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.