VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Brown-Forman Corporation vs Elevance Health, Inc.

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

Brown-Forman Corporation

BF.B · New York Stock Exchange

Market cap (USD)$12.3B
Gross margin (TTM)59.1%
Operating margin (TTM)26.9%
Net margin (TTM)20.8%
SectorConsumer
IndustryBeverages - Wineries & Distilleries
CountryUS
Data as of2025-12-25
Moat score
72/ 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 Brown-Forman Corporation's moat claims, evidence, and risks.

View BF.B analysis

Elevance Health, Inc.

ELV · New York Stock Exchange

Market cap (USD)$82.8B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorHealthcare
IndustryMedical - Healthcare Plans
CountryUS
Data as of2026-01-09
Moat score
74/ 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 Elevance Health, Inc.'s moat claims, evidence, and risks.

View ELV analysis

Comparison highlights

  • Moat score gap: Elevance Health, Inc. leads (74 / 100 vs 72 / 100 for Brown-Forman Corporation).
  • Segment focus: Brown-Forman Corporation has 5 segments (71.1% in Whiskey); Elevance Health, Inc. has 3 segments (85.2% in Health Benefits).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Brown-Forman Corporation has 4 moat types across 2 domains; Elevance Health, Inc. has 8 across 3.

Primary market context

Brown-Forman Corporation

Whiskey

Market

Premium-and-above whiskey spirits (American whiskey and import whiskies)

Geography

Global

Customer

Consumer (off-premise and on-premise via distributors/retailers)

Role

Brand owner / distiller / marketer

Revenue share

71.1%

Elevance Health, Inc.

Health Benefits

Market

U.S. health insurance and managed care

Geography

United States

Customer

Employers, individuals, and government programs

Role

Payer / managed care organization

Revenue share

85.2%

Side-by-side metrics

Brown-Forman Corporation
Elevance Health, Inc.
Ticker / Exchange
BF.B - New York Stock Exchange
ELV - New York Stock Exchange
Market cap (USD)
$12.3B
$82.8B
Gross margin (TTM)
59.1%
n/a
Operating margin (TTM)
26.9%
n/a
Net margin (TTM)
20.8%
n/a
Sector
Consumer
Healthcare
Industry
Beverages - Wineries & Distilleries
Medical - Healthcare Plans
HQ country
US
US
Primary segment
Whiskey
Health Benefits
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
72 / 100
74 / 100
Moat domains
Demand, Supply
Legal, Demand, Supply
Last update
2025-12-25
2026-01-09

Moat coverage

Shared moat types

Brand TrustScope Economies

Brown-Forman Corporation strengths

Distribution ControlCapacity Moat

Elevance Health, Inc. strengths

Concession LicenseScale Economies Unit CostGovernment Contracting RelationshipsData Workflow LockinSuite BundlingSwitching Costs General

Segment mix

Brown-Forman Corporation segments

Full profile >

Whiskey

Oligopoly

71.1%

Ready-to-Drink (RTD/RTP)

Competitive

12.4%

Tequila

Oligopoly

6.6%

Rest of Portfolio (Other Branded Spirits)

Competitive

7.4%

Non-branded and Bulk

Competitive

2.6%

Elevance Health, Inc. segments

Full profile >

Health Benefits

Oligopoly

85.2%

CarelonRx

Oligopoly

12.8%

Carelon Services

Competitive

1.9%

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.