VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Brown-Forman Corporation vs Lotus Bakeries NV

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)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorConsumer
Industry
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

Lotus Bakeries NV

LOTB · Euronext Brussels

Market cap (USD)$6.9B
Gross margin (TTM)28.7%
Operating margin (TTM)16.5%
Net margin (TTM)12.3%
SectorConsumer
IndustryPackaged Foods
CountryBE
Data as of2026-01-06
Moat score
64/ 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 Lotus Bakeries NV's moat claims, evidence, and risks.

View LOTB analysis

Comparison highlights

  • Moat score gap: Brown-Forman Corporation leads (72 / 100 vs 64 / 100 for Lotus Bakeries NV).
  • Segment focus: Brown-Forman Corporation has 5 segments (71.1% in Whiskey); Lotus Bakeries NV has 3 segments (56% in Lotus Biscoff).
  • Moat breadth: Brown-Forman Corporation has 4 moat types across 2 domains; Lotus Bakeries NV has 5 across 2.

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%

Lotus Bakeries NV

Lotus Biscoff

Market

Branded caramelised biscuits (speculoos) and Biscoff spread

Geography

Global

Customer

Consumers via retail and away-from-home channels

Role

Brand owner and manufacturer

Revenue share

56%

Side-by-side metrics

Brown-Forman Corporation
Lotus Bakeries NV
Ticker / Exchange
BF.B - New York Stock Exchange
LOTB - Euronext Brussels
Market cap (USD)
n/a
$6.9B
Gross margin (TTM)
n/a
28.7%
Operating margin (TTM)
n/a
16.5%
Net margin (TTM)
n/a
12.3%
Sector
Consumer
Consumer
Industry
n/a
Packaged Foods
HQ country
US
BE
Primary segment
Whiskey
Lotus Biscoff
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Strong
Moat score
72 / 100
64 / 100
Moat domains
Demand, Supply
Demand, Supply
Last update
2025-12-25
2026-01-06

Moat coverage

Shared moat types

Brand TrustDistribution ControlCapacity Moat

Brown-Forman Corporation strengths

Scope Economies

Lotus Bakeries NV strengths

Habit DefaultCapex Knowhow Scale

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%

Lotus Bakeries NV segments

Full profile >

Lotus Biscoff

Oligopoly

56%

Lotus Natural Foods

Competitive

24%

Lotus Local Heroes

Competitive

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.