VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

British American Tobacco p.l.c. vs Walmart 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)
SectorConsumer
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

Walmart Inc.

WMT · New York Stock Exchange

Market cap (USD)$894.3B
SectorConsumer
CountryUS
Data as of2025-12-30
Moat score
77/ 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 Walmart Inc.'s moat claims, evidence, and risks.

View WMT analysis

Comparison highlights

  • Moat score gap: Walmart Inc. leads (77 / 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); Walmart Inc. has 3 segments (68.3% in Walmart U.S.).
  • 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; Walmart Inc. has 6 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%

Walmart Inc.

Walmart U.S.

Market

U.S. omnichannel discount retail and grocery (supercenters, neighborhood markets, eCommerce)

Geography

United States

Customer

Consumers and small businesses; marketplace sellers and advertisers (for marketplace and retail media offerings)

Role

Retailer / marketplace operator / last-mile fulfillment network

Revenue share

68.3%

Side-by-side metrics

British American Tobacco p.l.c.
Walmart Inc.
Ticker / Exchange
BATS - London Stock Exchange
WMT - New York Stock Exchange
Market cap (USD)
n/a
$894.3B
Sector
Consumer
Consumer
HQ country
GB
US
Primary segment
Combustibles
Walmart U.S.
Market structure
Oligopoly
Competitive
Market share
n/a
20%-22% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Weak
Moat score
71 / 100
77 / 100
Moat domains
Demand, Supply, Legal
Supply, Demand, Network, Financial
Last update
2025-12-30
2025-12-30

Moat coverage

Shared moat types

No overlap yet.

British American Tobacco p.l.c. strengths

Brand TrustDistribution ControlCompliance AdvantageInstalled Base ConsumablesOperational ExcellenceCapability adjacency

Walmart Inc. strengths

Scale Economies Unit CostPhysical Network DensityHabit DefaultSupply Chain ControlEcosystem ComplementsFloat Prepayment

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%

Walmart Inc. segments

Full profile >

Walmart U.S.

Competitive

68.3%

Walmart International

Competitive

18.1%

Sam's Club U.S.

Oligopoly

13.6%

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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.