VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Brookfield Infrastructure Partners L.P. vs Spotify Technology S.A.

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

Brookfield Infrastructure Partners L.P.

BIP · New York Stock Exchange

Market cap (USD)$15.9B
Gross margin (TTM)26.4%
Operating margin (TTM)24.6%
Net margin (TTM)3.6%
SectorUtilities
IndustryDiversified Utilities
CountryBM
Data as of2025-12-31
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 Brookfield Infrastructure Partners L.P.'s moat claims, evidence, and risks.

View BIP analysis

Spotify Technology S.A.

SPOT · New York Stock Exchange

Market cap (USD)$121.5B
Gross margin (TTM)31.8%
Operating margin (TTM)11.7%
Net margin (TTM)8.3%
SectorCommunication Services
IndustryInternet Content & Information
CountryLU
Data as of2026-01-06
Moat score
65/ 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 Spotify Technology S.A.'s moat claims, evidence, and risks.

View SPOT analysis

Comparison highlights

  • Moat score gap: Brookfield Infrastructure Partners L.P. leads (74 / 100 vs 65 / 100 for Spotify Technology S.A.).
  • Segment focus: Brookfield Infrastructure Partners L.P. has 4 segments; Spotify Technology S.A. has 2 segments (88.2% in Premium (subscription)).
  • Primary market structure: Quasi-Monopoly vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Brookfield Infrastructure Partners L.P. has 4 moat types across 3 domains; Spotify Technology S.A. has 6 across 4.

Primary market context

Brookfield Infrastructure Partners L.P.

Utilities

Market

Regulated and contracted utility infrastructure (electric transmission, gas pipelines/distribution, metering and residential energy services)

Geography

Global

Customer

Regulators and contracted counterparties; residential and commercial end-users via utility networks

Role

Owner-operator of regulated networks and contracted utility assets

Spotify Technology S.A.

Premium (subscription)

Market

Paid music and audio streaming subscriptions

Geography

Global

Customer

Consumers (end-users) and distribution partners (e.g., telcos)

Role

Streaming platform operator

Revenue share

88.2%

Side-by-side metrics

Brookfield Infrastructure Partners L.P.
Spotify Technology S.A.
Ticker / Exchange
BIP - New York Stock Exchange
SPOT - New York Stock Exchange
Market cap (USD)
$15.9B
$121.5B
Gross margin (TTM)
26.4%
31.8%
Operating margin (TTM)
24.6%
11.7%
Net margin (TTM)
3.6%
8.3%
Sector
Utilities
Communication Services
Industry
Diversified Utilities
Internet Content & Information
HQ country
BM
LU
Primary segment
Utilities
Premium (subscription)
Market structure
Quasi-Monopoly
Oligopoly
Market share
n/a
31%-33% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
74 / 100
65 / 100
Moat domains
Legal, Demand, Supply
Network, Demand, Legal, Supply
Last update
2025-12-31
2026-01-06

Moat coverage

Shared moat types

Scale Economies Unit Cost

Brookfield Infrastructure Partners L.P. strengths

Concession LicenseLong Term ContractsPhysical Network Density

Spotify Technology S.A. strengths

Data Network EffectsInteroperability HubTwo Sided NetworkBrand TrustContent Rights Currency

Segment mix

Brookfield Infrastructure Partners L.P. segments

Full profile >

Utilities

Quasi-Monopoly

n/a

Transport

Oligopoly

n/a

Midstream

Oligopoly

n/a

Data

Oligopoly

n/a

Spotify Technology S.A. segments

Full profile >

Premium (subscription)

Oligopoly

88.2%

Ad-Supported (advertising)

Competitive

11.8%

Want the full wide moat stocks list?

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Proven models entering the expansion stage with unit economics that work.

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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.