VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Broadridge Financial Solutions, Inc. vs Spotify Technology S.A.

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

Broadridge Financial Solutions, Inc.

BR · New York Stock Exchange

Market cap (USD)$26.1B
Gross margin (TTM)31.3%
Operating margin (TTM)17.6%
Net margin (TTM)13.1%
SectorTechnology
IndustrySoftware - Services
CountryUS
Data as of2025-12-26
Moat score
91/ 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 Broadridge Financial Solutions, Inc.'s moat claims, evidence, and risks.

View BR 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: Broadridge Financial Solutions, Inc. leads (91 / 100 vs 65 / 100 for Spotify Technology S.A.).
  • Segment focus: Broadridge Financial Solutions, Inc. has 2 segments (74.2% in Investor Communication Solutions); 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: Broadridge Financial Solutions, Inc. has 5 moat types across 4 domains; Spotify Technology S.A. has 6 across 4.

Primary market context

Broadridge Financial Solutions, Inc.

Investor Communication Solutions

Market

Proxy distribution, vote processing, and regulatory investor communications

Geography

Primarily United States (with select international services)

Customer

Public companies, mutual funds, banks and broker-dealers, asset managers

Role

Outsourced intermediary for shareholder communications and proxy voting workflows

Revenue share

74.2%

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

Broadridge Financial Solutions, Inc.
Spotify Technology S.A.
Ticker / Exchange
BR - New York Stock Exchange
SPOT - New York Stock Exchange
Market cap (USD)
$26.1B
$121.5B
Gross margin (TTM)
31.3%
31.8%
Operating margin (TTM)
17.6%
11.7%
Net margin (TTM)
13.1%
8.3%
Sector
Technology
Communication Services
Industry
Software - Services
Internet Content & Information
HQ country
US
LU
Primary segment
Investor Communication Solutions
Premium (subscription)
Market structure
Quasi-Monopoly
Oligopoly
Market share
85%-95% (estimated)
31%-33% (reported)
HHI estimate
8,200
n/a
Pricing power
Moderate
Moderate
Moat score
91 / 100
65 / 100
Moat domains
Legal, Supply, Network, Demand
Network, Demand, Legal, Supply
Last update
2025-12-26
2026-01-06

Moat coverage

Shared moat types

Scale Economies Unit CostTwo Sided NetworkInteroperability Hub

Broadridge Financial Solutions, Inc. strengths

Regulated Standards PipeSwitching Costs General

Spotify Technology S.A. strengths

Data Network EffectsBrand TrustContent Rights Currency

Segment mix

Broadridge Financial Solutions, Inc. segments

Full profile >

Investor Communication Solutions

Quasi-Monopoly

74.2%

Global Technology and Operations

Oligopoly

25.8%

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.